Sales Make it Happen
by Doug Houlahan
Recently a broker asked "How do I more effectively close Allegiant transactions?" We in turn deferred to one of our more successful brokers, Barbara Griffith from Southern California Leasing, for some insight into a transaction we closed last month.
This is the second transaction we've closed with this broker for a successful restaurateur opening his fourth location. After receiving his documents the lessee decided he was not going to pay these rates and so we worked together to lower his payment and close the transaction.
Below are the points Barbara shared with Allegiant that allow her to effectively close deals with Allegiant:
1. Allegiant's rates are inline with those of competitors in the structured transaction market. In other words, the broker feels that this is a fair proposition and is not afraid to make the point to the customer.
2. Allegiant will work with a broker to get a transaction done when pricing is an issue. Allegiant cut the rate and the broker cut the commission to sell this deal.
3. It is important to close, if at all possible. The broker ends up with a customer, a satisfied vendor and a funding source relationship. All these parties can be sources in developing more business.
4. Don't let your commission get in the way of developing a customer. This broker earned only 1.5% on the first transaction with another lessee. That customer has come back and done well in excess of $1M in business over an 8 year period. The client stopped being concerned about how much she was making after the first deal.
Look to your source not only for approving a transaction, getting the best rate or commission, but helping you keep the deal, making your customer happy, and obtaining repeat business.
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