Asset Management & Recovery: Picking the Bankers Brain - What They Want

Since the fall of last year I have been working extremely hard on growing the auction side of the business.  It has fallen off a little bit as we have taken on more and more receiver work.  There were just not enough hours in the day to take it all on.  We were able to hire some great people and this has given me the opportunity to re-focus on the auction division. 

Wednesday was a full day at the Ohio Auctioneers Association summer conference and the afternoon session was a panel of 3 bankers and one insolvency attorney talking about what they wanted out of service providers.

It was interesting to find out that the bankers receive calls from approximately 150 brokers and auctioneers each year, but only work with 5-6.  That means that their vendors, in their opinion, are in the top 4% of the people who contact them. 

From working in this arena most of my career it was also interesting to listen to likes and don't likes about their vendors and prospective vendors.  It was good to sit in and have my guesses reinforced.  Like most people, bankers and lawyers don't like:

• Too much calling
• Fluffy postcards.  They don't care about cat training tips or new chicken recipes.
• Negative talk about others

What they do like:

• You understanding their job and how the process works.
• One stop shops
• Not bothering them with little things
• Data

If anyone is interested, I'll be setting up CE classes for the fall for Bankruptcy and Receiver Transactions as well as Prospecting Bankers and Attorney's.  We are working on a Central Ohio Schedule for live classes and possibly webinars.