Posted by CAV/CA on 5/11/04 1:14am
Msg #1953
Question for old-timers
I got an email from a newbie in my area who wanted to know if she could go with me to an appointment to see how it works. I'm thinking, with the business slowing down so much, do I want more competition, and should I train it? Please don't bash me too much; I'm just curious what you would do. TIA
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Reply by Ninna Mantooth-Lopez on 5/11/04 7:56am
Msg #1954
With you being in California, you probably encounter more competition than you are comfortable with. Start out by asking yourself this... "if I don't help her... will she go forward, on her own, and end up being my competition anyway?" "If I do help her, can I somehow gain from it?" Possibly, depending on the newbie's moral character. If you decide to help her... lay your cards on the table. Let her know of your hesitancy... observe her reaction. Ask her... "knowing the competition in our area, what do you think will I gain from helping you?"... "will you remember me when there are assignments you cannot fulfill?"... "if so, what fees do you plan on charging?"... (knowing that some companies are looking for the low-priced SA).
In a sense, she is asking you to be her in-the-field teacher. One signing is not going to show her "how it works". She needs to go with you on several to really get a feel of different scenerios... different loans... questions asked during signings, etc. As such, I would charge her a mentoring (or consultation) fee. If she's serious about getting into the business... and serious about wanting to work with someone who does know the ropes... than you should charge her for your services. In the end, she/he may end up being one of your best resources... or, on the flip-side... your best competition. Either way, the decision to mentor or not to mentor is always a tough question with no clear-cut answer. Good luck... and let us know what you decide.
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