Archive for May, 2011

We all want to be a good role model for our kids. Let’s face it, our children learn from us more than anyone else in their life. Most sons want to grow up to be just like dad and, oftentimes, daughters do as well. So my question for you is, do you want your son or daughter to grow up and step into your shoes by working as a repoman? Many recovery agents and auto repossession company owners I speak with on this subject are 100% against it. I often hear things like, “Nope, I want them to grow up and do something with their life.” Oftentimes, the previous sentence is mixed with a lot of cursing to get the point across that they want their little ones to go to college and have a respectable job someday. My thought is that being a repossession agent is a respectable profession. I want to stress that word – profession. We are professionals doing a job that 99.9% of Americans could not do.¬† Sure, we want our kids to be successful in life, but being a business owner in the community is something great, right? Whether you want your kids to follow in your footsteps or not, be sure¬†that you are someone from which they learn some good things. Let them see a parent that does the right thing and lives a life of decency and honor. Let them see a person that treats others with respect and conducts themselves in a professional manner. Be an individual that decides what is right to do and how to react, regardless of the circumstances with which they are confronted. Do you understand what I mean? An example would be of deciding not to steal when you are not in need, and following through with that decision when you are desperately in need. Do not make an excuse for not doing what is right when it suits you. A great parent will support their child’s career decision, even if it means growing up to be the grim reaper – the repoman! For those of you, like myself, that wanted my auto repossession business to be a family business that I could pass down to my son one day – being a good role model also means supporting our children when they decide not to be like dad and choose another profession. So, here is a shout out to my awesome son who chose a different road than his dad did – I love you, I am proud of you, and I support you in your career choice. Please vote in the poll about this post here

See more articles on a repoman career here and if you are a repoman or an auto repossession company owner and are not a member, please join our forum here

Here are some traits that a person needs to possess in order to be a great repoman.

  • Trustworthiness – A lender needs to know that you are going to do what you said you would do. Do not make promises you can’t possibly keep.
  • Honesty – Your effectiveness as a repoman cannot afford to be caught in a lie, even one time. If you did not do something, that’s okay, but if you did, then own up to the lender.
  • Leadership – You have to be able to make tough decisions, solve problems, and work through difficult decisions. Everything rises and falls on leadership.
  • Confidentiality – Lenders want agents that do not disclose information about their debtors. Your clients do not want to get hauled into court because you have loose lips.
  • Work ethic – Being a repoman is a 24-hour, 7 day-a-week job. The repossession industry is not well suited for a lazy repoman.
  • Generous – Be sure you give back to your community. You should not only give monetarily, but also give of yourself. There is nothing more rewarding than giving your time to a good cause. Click here to read more on charity.

Please feel free to comment on what you feel are essential qualities every repoman should have, or discuss it on our forum here

So how do you develop common sense?

  • Do less and think more. Don’t jump into any situation without first completely analyzing it. It is better not to move at all, than to move without considering the consequences.
  • Shut up and listen. Have you ever known someone that just talks and talks without thinking first? I tire easily when I deal with someone that asks me for advice on the repossession industry, but never shuts up long enough to hear my advice.
  • Learn from the mistakes of others. A wise man learns from the mistakes of others, while the fool sees others make a mistake and then does the exact same thing. Talk to others that have been down the path you are about to travel.
  • Learn from your past mistakes and do not repeat them. I know several people in the repossession industry that make the same mistakes over and over again. If you screw up once, be sure you do not repeat the same process. Nothing hurts more than doing the same thing wrong over and over again.
  • Realize that you are not always right. Please stop being a know-it-all. Think just for a moment that you are perfect and do not make mistakes? Remember, pride cometh before a fall.
  • Consult with others that have more experience than you. See the advice of people that have been successful in the thing you are trying to do.
  • Be able to step back and look at the “big picture”. If you have tunnel vision, you will likely get hurt, so look at every situation completely.
  • Know your limitations. Know what you can and can’t do. If you realize you can’t fly like superman, you probably won’t jump off any bridges!
  • Plan ahead. The only plan that fails is the one that was not planned for.

There are a lot of qualities that make up a repoman. As I meet agents from around the country, I find that there is one trait that makes a certain repoman truly great. The trait that really makes a guy stand out in this profession is common sense. A repo agent could be a good skip tracer, he could be able to hook a car up quickly and get away without the debtor catching him, and he could be good at talking a debtor out of his car – but, without common sense, he can never be a great repoman. Sure, he may be able to plod along getting a few cars picked up here and there, but he will never truly reach his greatness if he does not have common sense. Common sense is not one of the five senses, but rather an inner sense. It is a sound judgment based on a perception of facts or a situation and what responsive action needs to be taken. It is paying attention to the obvious, which most people overlook. It is this observance of the obvious that will keep the repossessor alive to go home and see his family after a long night at work. The question I ask, is – “Can common sense be learned or are you born with it?” I say that you can develop it, and I will discuss some ways you can increase your common sense in my next post.