Who better to turn to for collections advice than experienced collectors?

Along with agents from Williams & Fudge, Preferred Group of Tampa and Receivables Management Group, Arbeit's CEO Alex shares some of his experiences as a debt collector and his tips for success. Here are his tips:

  • It took Alex about two or three months to become the top collector.
    • "I was only working about 4 hours a day because I was going to school. That was a huge advantage for me because I did not dread going to work. I also wasn't getting tired or burnt out from looking at my computer screen all day.
  • It's not about working "smarter" vs. "harder"
    • I would say I worked harder and smarter, I think if you don't do both, you cant achieve anything. First, I would work smart by constantly evaluating every call that came in. So when I answered a call I got an idea of how the person was on the call. I would use that to judge who the best person was to handle that call in case I could not close it. I was aware of what I was and wasn't good at. For example, if they were a male who was old enough to be my dad or grandfather, I probably wasn't the best person to handle that. I would start it, and then try to get that switched over to someone else and quickly as possible.
  • Environment plays a huge role in success
    • "Creating some sort of team environment in an agency is extremely important I think because not everyone is amazing at everything. Tell your collectors to do this when they answer the call, evaluate the call and decide if they are the right person for that call."
  • Take full advantage of inbound calls
    • "My favorite thing was incoming calls, we used a dialer and this is where the work hard came in. If no one was calling in, I would pick up the phone and make a call, but I was always ready to answer that call. That's how working smarter and harder play together. If someone called in, that's just like a silver platter in front of you. You know what they say, "no one walks on a lot unless they want to buy a car". If someone is calling in you have a way better chance of closing than cold calling."
  • Practice, Practice, Practice!
    • "I would constantly practice on my own. In the car on the way to work or the way home, I would always be practicing. I would practice my talk off and be talking to myself but I think it would work. I felt more comfortable with my talk off and I think that's important. Setting up some role-playing time for your collectors. Even just letting them do it on their own because it's intimidating for someone, especially if they are new to do the role-playing in front of others. Let them get comfortable with their talk off and ease into it."

Want to learn more about how to improve as a collector? Check out tips from an expert on building your collection agency's online presence and improving your personal productivity at work.

 

 

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