Archive for the ‘Blogroll’ Category

Predictive Dialers vs. Hosted Dialers!

Tuesday, August 23rd, 2011


Hardware Predictive Dialers

Definition: The predictive dialer uses a variety of algorithms to predict both the availability of agents and called party answers, adjusting the calling process to the number of agents it predicts will be available when the calls it places are expected to be answered.
English: A predictive dialer is a computerized hardware system that automatically dials batches of telephone numbers on multiple lines for connection to agents assigned to call stations. Predictive dialers are widely used in call centers and are very effective when ran correctly.

My favorite type of Predictive dialing is the hardware based systems that have NO VOICE RECOGNITION. This is a program that causes a slight delay due to the software trying to figure out which calls are reaching live people. It is designed to eliminate disconnects and answering machines. However from my experience you loose about 35% of you’re “pitch able connects” due to the customer saying hello twice. In my office we use a 6 man dialer that calls out on 8 phone lines. My reps pitch 100% of every person that answers the phone because they hear the call ring into the home owner. Each six man dialer should be able to generate about 30-40 mortgage leads per day.

Hosted predictive dialers

Hosted predictive dialers (aka: Web-based predictive dialer, or VoIP Predictive Dialers) use the hosted servers in their model to provide organizations and individuals with a predictive dialer capability without having to buy expensive hardware or phone systems.

-No required investments in computer or telephone hardware
-No required investments in software or licenses
-Administration and support are handled by the service provider
-Links into the system are remote, enabling agents and supervisors to connect from any location
-Software updates and upgrades included.

-Service is dependent on an internet connection; when the internet goes down, so does the service
-Providers using VOIP as their primary delivery method experience limited reliability and performance. There are services with analog phone capabilities but they usually limit you to a certain computer. The services that offer a full VOIP are usually a fix cost and unlimited dialing capabilities.

Auto Dialers

Definition: An auto dialer is an electronic device that can automatically dial telephone numbers to communicate between any two points in the telephone, mobile phone and pager networks. Once the call has been established (through the telephone exchange) the auto dialer will announce verbal messages or transmit digital data (like SMS messages) to the called party.

English: the key technology for auto dialers is the ability to detect the difference between a live human pickup and answering machine or disconnect. These are a little outdated with the newer predictive dialers and hosted services being so much better. I don’t know of any auto dialers that can come close to the basic predictive solutions out there.


With over 8 years of dialer experience in different sized call centers I have come to one major conclusion in dialing as we know it. Predictive dialing is the absolute best way to go. I use the 6 agents x 8 lines per dialer method because my reps get to pitch every single person. This model is great for the small to midsized operations. The nice thing with my hardware systems is that you can stack multiple dialers on one computer so growth is pretty inexpensive in comparison with some autodialing systems that require a computer at each station.

The Auto dialers are almost a thing of the past. The only settings they are good for is big call centers that have 100s of agents and really need to use the Voice Recognition. Due to big payroll costs. These centers have to be only talking to live people even if they loose 35% of the pitches due to the delay. These are not good fro small to mid size operations.

The one down side to the predictive dialers is that they are an investment. They can be costly and for most small business it’s hard to come up with the capitol for a system like this. What I suggest for shops like this is to start out using a cheaper hosted service until you make enough to invest in the in house system. Hosted dialing can be very good but it’s still just a stepping stone to the hardware systems.



Monday, August 22nd, 2011

Off the topic of Direct Marketing I have been thinking of alternate ways for LOs to make money while you grind this thing out. You don’t even have to change much about what you do EXCEPT WORK A LITTLE HARDER for your potential borrowers and TURN DOWNS!!!

Think about this for a second……We are all taking more applications now than we have in the last couple years but for most it’s the qualifying the prospects that is the issue. I talk to so many Loan Officers and Brokers a like that just throw that stuff away…….WHY WOULD YOU DO THAT? Your trash is another man’s treasure and actually its a treasure to you but most just don’t know it yet.

Here is what I would be doing if I was a full time LO….

Do which ever marketing I like best and then really really WORK THE LEADS! Work the potential Refi to the bone until there is absolutely no deal there. On all the turn down leads we have all got to start helping these people. There are other ways that may require any Loan Officer to get out and network to help the homeowners in other financial ways….

I would try building relationships with other professionals in other lines of finacial services….

First- credit repair companies–I know most of them pay you a commission for the repair job and then they send you the borrower back for the loan after things are fixed. You not only go the extra mile for your client but you also make a little money on the side form the CR company.  This helps you help a client that needs it and that gives you the chance to put them in your client base for later as well as earn referrals through them.

Another example would be to learn loan modification. 9 out of 10 applications taken DO NOT qualify for a loan, so in my mind you should try and modify their loan with their current lender and make a small commission for HELPING your client. Again this was a turn down before and it could be turned into revenue and maybe even a future deal and more than likely a referral or two for another modification. (you would not believe how much home owners talk about not being able to refinance with each other) If you go the extra mile on either of these two ways or even debt settlement or something like that you will be helping home owners the same way, FINANCIALLY, and still be making money as well as building your client base for future.  Some of these companies are set up differently so finding the right one for you can be difficult.  I have done extensive research on this and if you would like information you can email me off the board for the names of the companies I would suggest using.

Sorry to go off on a rant but i see so many people complain about turn downs and lenders not lending to hardly anyone, but really they should be trying to figure out how to try and help these clients out. There is a lot of money to be made rehabbing or modifying loans as well as credit repair and settlement. START DIVERSIFYING IF YOU WANT TO LIVE AS WELL AS YOU MIGHT HAVE IN YEARS PAST IN THE INDUSTRY!  Especially considering some of the people you all run into can’t even modify because they are too far upside down.  Another GREAT way to build Realtor referrals for short sales.  You simply can’t loose if you build yourself a network of industry professionals to send your turn down and bail out deals to.  Net working has never been easier with over 95% of all home owners in need of some sort of financial service.  You area already taking the time to talk to them to find out about the refi…if you turn over just half your turn downs you not only cover part of your over head but you also build your clients for later.  We know lenders will lend again at some point.  he who has the biggest over all client base will be the one who makes the most money when this happens.

I’m in hopes this message gets at least one person motivated again, all the negativity does get overwhelming after a while and there truly is a ton of money to still me made in financial services. Lets get on it!