All companies keep track of your contact ratio. The contact ratio is simply the number of times you contact persons compared to the number of times you do not contact anyone. Of course, this ratio is determined only for the types of inspections where contact is requested.
I know many reps that put little or no effort into contacting anyone. The most common remarks are “time is money” or “they don’t pay enough for me to do that”. Both of these remarks fall into the category of very poor business strategy. What these reps fail to realize is there is a computer somewhere that can report that rep’s contact ratio in a matter of seconds.
Suppose for a moment that a company we work for is notified by their client, say a mortgage company, that they are having far too many foreclosures and they would like to avoid this as much as possible. Then the client asks “are you pretty sure your field reps are contacting the customer”? What’s going to happen next? The computer is going to be programmed to send the majority of work to the reps with the better contact ratio.
If you are bashful or maybe even fearful of contacting other people, just remember one thing, you really are doing them a favor. The lender is sending you out to contact this person in hopes that communications can be established and, if possible, steps made to prevent foreclosure. The lenders do not want to own real estate. They do not want to foreclose and you are a vital link in the process. Lenders that make loans for consumer products don’t want the boat, car, jet ski, TV set, etc. They are seeking completion of a contract entered into in good faith.
What is the ideal contact ratio for a bankruptcy inspection – 0%; no contact inspection – 0%; personal interview – 100%; face to face interview – 100%; delinquency interview – 100%.
Keep your contact ratio up. You will actually meet some very nice people and you will be helping your business while you help them. If you run across a sour person, just avoid them later – leave a call back card instead.
No phone calls today. I hope that means everyone is busy working. I only called four companies today to get updates for the manual. Mario is still at American Risk Control and it was a pleasure talking with him again. If you are looking for insurance inspection work, visit American Risk Control’s site.
I have added several new sections to the manual this week and I really think it will benefit all who read it. The phone calls and e-mail I get really helps a lot so keep it up.
Today (67•7.50). Tomorrow, out at sunup, back at sundown. Later