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Too many job offers and i don't understand them fully

chromium

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I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers
 
Don't know much about that industry chrom so I couldn't say if that sounds good or legit. Just on a personal preference level, I don't really care for tone of the ad. It's not very professional like he wants to act like your dad or something.
 
I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers

I'll offer you this -- These people are not invested In your success. They hope you will close refi or mortgage origination deals with your friends and family. And, frankly. you're too young, IMO, to inspire confidence in the marketplace.

Anyone, believe me, could join this company. Have a pulse? Come on up! Now I'll also say that, if you have a natural talent for sales, this is a good way to hone those skills. Just don't expect to make any money 'cause it's highly doubtful that you will.
 
That offer pretty much sounds like bull**** to me.

When you get an offer the first thing you want to do is Google the outfit and see what people have to say about them.

Personally, I'm leery of phrases such as "We usually close about 3 deals a month, I've closed over 100 total". Maybe it's just the way it's written but it sounds like he's saying that it's normal to close 3 deals a month but he's closed 100. If that's what he means it's a total come on and an amateurish one at that. If, on the other hand, he's saying that he's closed 100 deals in the 10 years he's been there then it's the 3 deals a month that's out of whack.

I'm also extremely leery of "Commission plus work from home" jobs. 99.9% of those are telephone sales and you NEVER make anything like what they say you will.

Finally, if they're offering $100k to an inexperienced, brand new employee there's a good chance it's fake as hell. That's one of those "if it sounds too good to be true" kind of things.

My recommendation is that you do some research, talk to some people in the field you're interested in then get to work making contacts who can help you through the whole job search process.
 
I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers

Can U hustle like Trump?

If you don't respond "Of Course!" this "opportunity" is not for you.
 
You just can't help yourself, can you? :lol:

I tried that life and suck at it, but pops and brother were/are very good. It talks a type.

EDIT: Wait....can't resist what? Promoting my guy?

You do know I am from Chicago(Rockford)

Right?

:cool:
 
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Go to a large employment agency. Employer pays. I take it you have a BA in accounting or Business? Most reputable businesses use headhunters now a days.

There is a catch. Possibly they are trying to sell you a franchise.

Nothing personal, but unless you are a top 90% 'er STEM graduate with top grades someone is serving you a plate of BS.
 
I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers

no matter what, GET YOUR DEGREE
once that ticket is punched your job prospects become MUCH better

as to this one, little seems known. if the offeror did 100 deals in 10 years then he is estimating that you will realize about $10,000 per business mortgage closed. does that mean the typical 'deal' is $1 million (allowing a 1% loan brokerage fee)? then where does the employer make any money if you walk away with the entire fee? what do you realize if you do all of the work to get the loan to a approval stage and the prospective borrower decides to go with another offer? does the applicant have to pony up a deposit (non-refundable if the loan request is approved) ... and what portion of it do you retain for your time and effort? do you have to seek out your own leads or are the applications going to be provided to you to process? finding the leads will require a hell of a lot more time than processing the documents
who is actually funding the loans? your employer or is this a brokerage house looking to place loans with monied sources? what are they looking for as good credit criteria?
when do you receive your commission? at the time of closing? figure about three months on average from start to closing assuming the client is motivated to provide you all of the documentation you will need
when is the appraisal performed to evaluate whether the real property holds sufficient value to carry the requested loan? should be early to eliminate you having to process a loan application that will not float. but many applicants will want to balk at paying the appraisal fee for a business property if they don't have a reasonable prospect for the loan approval - subject to the appraisal coming in with an adequate fair market value. if the employer's practice is to delay the appraisal until after the application has been processed, you could do a lot of work without any prospect of income
are you going to be an independent contractor? if not, then you are a wage earner without a wage

by working without an income as a inexperienced loan officer, without industry leads and experience, you could wind up doing a lot of work for little to no money
if the employer wants you, let it show they believe in your potential by paying you a base for some period of time or until you are achieving/exceeding base with your commissions
then you would be able to eat while you become experienced in the industry

once you become established, it could become a very lucrative career
if you can do basic financial analysis, have common sense, and a good demeanor with clients, then this could be a good fitting industry for you

don't hesitate to PM with any questions i might be able to answer
 
no matter what, GET YOUR DEGREE
once that ticket is punched your job prospects become MUCH better

as to this one, little seems known. if the offeror did 100 deals in 10 years then he is estimating that you will realize about $10,000 per business mortgage closed. does that mean the typical 'deal' is $1 million (allowing a 1% loan brokerage fee)? then where does the employer make any money if you walk away with the entire fee? what do you realize if you do all of the work to get the loan to a approval stage and the prospective borrower decides to go with another offer? does the applicant have to pony up a deposit (non-refundable if the loan request is approved) ... and what portion of it do you retain for your time and effort? do you have to seek out your own leads or are the applications going to be provided to you to process? finding the leads will require a hell of a lot more time than processing the documents
who is actually funding the loans? your employer or is this a brokerage house looking to place loans with monied sources? what are they looking for as good credit criteria?
when do you receive your commission? at the time of closing? figure about three months on average from start to closing assuming the client is motivated to provide you all of the documentation you will need
when is the appraisal performed to evaluate whether the real property holds sufficient value to carry the requested loan? should be early to eliminate you having to process a loan application that will not float. but many applicants will want to balk at paying the appraisal fee for a business property if they don't have a reasonable prospect for the loan approval - subject to the appraisal coming in with an adequate fair market value. if the employer's practice is to delay the appraisal until after the application has been processed, you could do a lot of work without any prospect of income
are you going to be an independent contractor? if not, then you are a wage earner without a wage

by working without an income as a inexperienced loan officer, without industry leads and experience, you could wind up doing a lot of work for little to no money
if the employer wants you, let it show they believe in your potential by paying you a base for some period of time or until you are achieving/exceeding base with your commissions
then you would be able to eat while you become experienced in the industry

once you become established, it could become a very lucrative career
if you can do basic financial analysis, have common sense, and a good demeanor with clients, then this could be a good fitting industry for you

don't hesitate to PM with any questions i might be able to answer


Ah ha! A sweat shop. Work a few weeks until you can't stand it anymore. Quit. They keep the leads!
 
I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers
1] Obtain a copy of the excellent movie, "Glengarry Glen Ross"
2] Watch said movie
3] Tell me what you think
 
Can U hustle like Trump?

If you don't respond "Of Course!" this "opportunity" is not for you.

so you're saying that line of work is for con artists only...
 
1] Obtain a copy of the excellent movie, "Glengarry Glen Ross"
2] Watch said movie
3] Tell me what you think

i don't have time for this, tell me what YOU think
 
so you're saying that line of work is for con artists only...

no, my pops was a straight up liar to get a deal done, he justified it with his iron clad surety that what he had to sell was good for them in the long run, so what ever it took to get the signature. My brother will stretch the truth with artistic use of language, but refuses to lie.

Both can work.

But you need to have the force of will of a Trump, you need to think you can beat all comers, and you need to win more brawls than you lose.
 
no matter what, GET YOUR DEGREE
once that ticket is punched your job prospects become MUCH better

as to this one, little seems known. if the offeror did 100 deals in 10 years then he is estimating that you will realize about $10,000 per business mortgage closed. does that mean the typical 'deal' is $1 million (allowing a 1% loan brokerage fee)? then where does the employer make any money if you walk away with the entire fee? what do you realize if you do all of the work to get the loan to a approval stage and the prospective borrower decides to go with another offer? does the applicant have to pony up a deposit (non-refundable if the loan request is approved) ... and what portion of it do you retain for your time and effort? do you have to seek out your own leads or are the applications going to be provided to you to process? finding the leads will require a hell of a lot more time than processing the documents
who is actually funding the loans? your employer or is this a brokerage house looking to place loans with monied sources? what are they looking for as good credit criteria?
when do you receive your commission? at the time of closing? figure about three months on average from start to closing assuming the client is motivated to provide you all of the documentation you will need
when is the appraisal performed to evaluate whether the real property holds sufficient value to carry the requested loan? should be early to eliminate you having to process a loan application that will not float. but many applicants will want to balk at paying the appraisal fee for a business property if they don't have a reasonable prospect for the loan approval - subject to the appraisal coming in with an adequate fair market value. if the employer's practice is to delay the appraisal until after the application has been processed, you could do a lot of work without any prospect of income
are you going to be an independent contractor? if not, then you are a wage earner without a wage

by working without an income as a inexperienced loan officer, without industry leads and experience, you could wind up doing a lot of work for little to no money
if the employer wants you, let it show they believe in your potential by paying you a base for some period of time or until you are achieving/exceeding base with your commissions
then you would be able to eat while you become experienced in the industry

once you become established, it could become a very lucrative career
if you can do basic financial analysis, have common sense, and a good demeanor with clients, then this could be a good fitting industry for you

don't hesitate to PM with any questions i might be able to answer

well i appreciate all the concerns and pointers, and the thought of establishing my own client base only to see the bastards run off with them when i quit in frustration at having no salary did occur to me

but he told me the reason they're hiring is they have more clients than they can handle and so they would pass those off to me....

it's my lack of knowledge at how lucrative this is, can it make up for no salary while i work on my license, for instance, that has me head scratching

those are some solid questions you came up with i will toss his way, so appreciate that
 
well i appreciate all the concerns and pointers, and the thought of establishing my own client base only to see the bastards run off with them when i quit in frustration at having no salary did occur to me

but he told me the reason they're hiring is they have more clients than they can handle and so they would pass those off to me....

it's my lack of knowledge at how lucrative this is, can it make up for no salary while i work on my license, for instance, that has me head scratching

those are some solid questions you came up with i will toss his way, so appreciate that

The chances that this is the truth are what exactly?
 
I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers

How does this employment ad compare to other job offerings of the same category?
School should remain your #1 priority!
I don't know much about the mortgage business but this does not sound like a professional company.
I would use extreme caution before getting involved with them.
 
i don't have time for this, tell me what YOU think

You don't NOT have time for this.
If you're unaware GlennGary Glennross is a late 80s Al Pacino flick about real estate salesman selling like timeshares for this outfit of questionable reputation. They basically are locked in an office cold calling strangers to try to sell them property. There's other subplots of course but they would spoil the movie
 
1] Obtain a copy of the excellent movie, "Glengarry Glen Ross"
2] Watch said movie
3] Tell me what you think


ABC : Always Be Closing, it brass balls to sell real estate

 
ABC : Always Be Closing, it brass balls to sell real estate

That was a great scene! David Mamet at his best!

It takes some maturity and understanding of human nature to really get this movie, but if you do - it's gold. One of the fastest 100 minutes of film I've ever experienced, despite it consisting exclusively of dialogue - just like the play it's based upon.
 
well i appreciate all the concerns and pointers, and the thought of establishing my own client base only to see the bastards run off with them when i quit in frustration at having no salary did occur to me

but he told me the reason they're hiring is they have more clients than they can handle and so they would pass those off to me....

it's my lack of knowledge at how lucrative this is, can it make up for no salary while i work on my license, for instance, that has me head scratching

those are some solid questions you came up with i will toss his way, so appreciate that

the mortgage industry is brutal

there are two types...refi's and new loans

refi's are usually leads provided by shop, with you the sales guy, calling on prospective clients at their house....long hours, and way too many leads are trash. no equity, bad credit, and you cant make the numbers work for the customer....unless you think you can change a customer from a fixed 30 year to a 5/1 arm....and not too many want those risks nowadays

on occasion you can find someone where the numbers work....you can lower their payments, and save them money, and put a few bucks in your pocket....my average commission when i did it was about $ 1200 a deal....so 5-6 deals a month is a good living, but getting that many is really hard

so then, your leads there will dwindle or be really bad after awhile, so you will try and garner new business loans. call around to your local real estate offices, and see if they will even let you in the door. a lot of them wont....when you do get in, getting an established agent to trust a deal to you, someone he/she doesnt know....that is the next hardest thing to get over....it is a LONG process to build a customer base, and a clientle

it is a hard sale....and for some, very lucrative....

for others, it is 3-6 months of little to no income, and then on to bigger and better things, and your leads to go others
 
I haven't finished my degree, might even do grad school, but all these local outfits keep shoving "preemptive offers" such as:

1) Mortgage loan officer for small business - "I've been here 10 years and made way more than i ever would've thought possible. We usually close about 3 deals a month, i've closed over 100 total. It's commission based, i may throw you a little salary down the road. I'll pay for your license (this i know is about $300) but for that 45 days or so that you work toward it you can't close any deals but i won't let you starve either."

Now this sounds vague as hell and the ad they put up for the gig said "$100,000 plus commission and work at home 50%" which doesn't mesh with what he told me. But i have 0 experience negotiating, i'm used to being lied to, and i frankly don't know what to think of all this. It's a quickly growing company

There's others but that one in particular i could use pointers

This is a scam.
You need to do some due diligence.
Look up the company see what reviews it has.
It could be click bait or some other weird scam.

Your best bet is to finish your degree and try to get on as a temp
At a real mortgage office. While you won't be able to write loans till you
Are licensed you will learn a lot.

Also the pay is commission. You need to find out if this is draw on commission.

What that means is that every pay period say you get 1500 is your pay.
If you have 1500 in commission you are good. What is bad is if you have to draw.

So say loans are down that week and you still get 1500 but it is a draw.
Which means you have to pay it back. If you go long enough you can rack up a lot of draw.
 
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