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The Good, the Bad, and the Ugly about CLP “lite” First, of all the questionnaire: this one had the fewest responses : 77. We have had as low as 423 and as high as over 600, so this is really a poor response. We also had this up for three days. The good and the bad: Many of those who responded that they “would be interested in becoming a CLP” were already a CLP. One CLP answered “no.” We should have spelled it out if you were already one, not to vote in this category. We assumed they wouldn't vote here, but I guess you know what “assume” means. The good, many of them signed their name with the t itle, so we could take them out of the count, and then guess how many really would like to become CLP—which the question asked. Several asked us to forward their name to the appropriate person, Cindy Spurdle, the executive director (we will do that in a few days.) Taking out those who signed their name and were a CLP, the percentage was 80% who wanted to become a Certified Leasing Professional. Perhaps that is why they responded. Perhaps the “ugly” were the very few who did respond, who evidently didn't care to be either of the category or have an opinion on it. Those who were CLP's, responded as true believers, with long e-mails. Some of them are re-produced in whole in this report. In favor of a new designation, the total vote was 60%. Taking out those who signed as CLP, and those we could also find on the CLP Foundation web site, it went to 78%. The good, in taking out those who we could identify as CLP, the number went 18% higher. The bad, it appears the overwhelming majority of CLP's are against a new designation. The ugly, not many readers cared about either designation. “I AM ALREADY A CLP. THERE IS ABSOLUTELY NO NEED TO LESSEN THE STANDARDS REQUIRED TO BE A CLP. IF THAT DESIGNATION MEANS SOMETHING TO AN APPLICANT, THEN STUDY, TAKE THE TEST, AND BECOME A CLP. IT IS AN EARNED DESIGNATION AND SHOULD NOT BE TREATED AS A CORRESPONDENCE SCHOOL ON LINE. RAPHAEL LAVIN, CLP “I am a CLP. I would prefer not to have any designation that might be confused with CLP, and possibly degrade the value of a CLP. There is no junior grade insurance license, or junior grade securities license (the 6 and the 7 are almost the same), why should there be a junior grade leasing designation? Email: douglas.dawkins@tycohealthcare.com “ “I'm already a CLP and it was TOUGH to GET. The CLP designation commands high respect in the industry and it shows the individual has gone to great lengths to learn all aspects of the leasing industry and moral values. It is a special achievement that should not be down graded by a lesser format. Ask any CLP and I'm sure they would feel the same. Let's not lower the standards. Email: Rosanne@1stindependentleasing.com “ “ I am a CLP and do not agree with a lite designation. Possibly an internship after 3 years and passing the test. "A registered CLP intern." I also disagree with making the test easier. We need to know all of the information in the test to be a CLP. Anything less would undermine the profession. In any profession to be certified takes years of training and education. Renee T. Fox, CLP Email: info@alfund.com “The CLP designation is something that only the elite and the professionals in this industry strive for. It shouldn't be taken lightly and it shouldn't be diluted with an easier or cheaper course so that more people can slide in. It's like be pregnant, "Either you are or you are not a CLP" Email: llachance@bankers-capital.com “I would have no objection to reducing or eliminating the five year requirement if it was decided to do so, but I would strongly oppose moves to “cheapen” the value of the CLP designation by either making the test easier or by creating a lessor category. You can't be “a little bit pregnant” nor should you be able to be “a semi CLP. “You either qualify or you don't -- and it should stay that way.” Sincerely, There were CLP's in favor of a “junior designation:” “I am a CLP. I am one of the people that want to get more people involved in CLP. CLP Board is looking to allow those who make at least 50% be able to retake two of the CLP modules so that they are not subjected to taking the full test over. Great idea. I sat in on some of Terry Winders CLP review course very good. I took the CLP review course that Bob Baker gave also very good. I think the CLP Board should look at giving a CLP Certified teachers seminar and go over the test the questions and what we would like the aspiring CLP's to be proficient in. Then you would know that the person you are taking the CLP from is qualified to teach it. The teachers would sign some kind of non-disclosure to as not to use the direct questions on the test. The more qualified, ethical individuals we can get interested the better the industry as a whole will be. John Winchester, CLP, Nashville, TN am a CLP and my son, Tripp, is currently studying for his CLP exam. We employ 9 salesmen. Most will never make a CLP. A lesser designation, one with a 2 year requirement, would be very helpful to us. If the cost and requirements were reasonable, we would make it a training goal for all of our salesmen. Ted Prichard, CLP Email: ted@smokeymountainfunding.com “ And those who didn't want to change it, who were not CLP's: “The test is fair. It is a review of he knowledge you have learned through the years. It validates said knowledge and ultimately will allow a person to express his opinion between his learned clients and himself on a one basis. The insurance institutes have their designations, CLU, These are not masters degrees but learning designations. I believe the CLP Foundation could learn from the Insurance Foundation. That continued education and designation may bring the leasing industry into the forefront instead of being the one eyed step child. I would call the one eyed step child the Norvergence stuff, the Cyberco Stuff. The CMC stuff. Maybe people would feel more empowered to say no to these type of transactions and deals. Email: tomnars@netlease.com “ “Just waiting for the 5 year req. Jim Merrilees made a great point about taking the test and waiting until 5 years to get the title....not a bad thought. I would support lowering the cost if possible. If the test needs to be updated it should be updated not diluted. Why study the 12c when you have t-value? (if that is an issue) Melvin Caldwell United Financial Service “ Some of the suggestions for a name: "Lite Lease Professional" c'mon. That's ridiculous. Either you put the time and effort in to get the designation or you don't. The primary reason for getting the designation should not be for the designation, rather for furthering of your knowledge of the industry in which you make your living. CLP will be cheapened if the test is made too easy. Thor Christianson Commercial Lease Solutions” “I am of the opinion that lessening the requirements for becoming a CLP devalues the very reason for creating the CLP program. I have enjoyed more than a 25-year career in leasing and have never once been involved in a lawsuit over what I did or did not represent to a Lessee. Personal integrity begins with the individual and should be supported by the company for which he is employed. Employers in our industry should do more than encourage their employees to obtain the proper training and education during their tenure of employment. Such training and education can only prove beneficial to a company and its bottom line. Most major professions have not just one degree of certification but have lesser levels of accomplishments established as well. There should be a minimum standard for the industry which could be developed by the CLP Foundation. For example, there could be a Level I, Level II and so forth designation (“Leasing Profession I, LPI,etc.), which could further be enhanced for specific areas of leasing such as "sales", "credit", "operations", etc. A CLP designation should indicate expertise in all of the above just as a CPA designation indicates competency in all areas of accounting. A data bank that records successful completion of approved courses could be established, which could be accessed by employers to determine the specific level of educational competency of potential employees. If we truly want to improve the image of our industry then we must be willing to change how we govern ourselves and what we require of each and every member of our profession. Waiting for government to legislate the moral fabric of individuals in our profession is not reasonable and I am not naive enough to believe we can correct every problem. However, establishing minimum industry standard requirements for education and recognizing individual achievement of those accomplishments along the way to earning a Certified Lease Professional designation would speak volumes to government entities hell bent on further regulating our industry and to the business community at large of our sincerity to self govern. And finally, we as an industry must be willing to ostracize those individuals or companies who bring shame to our industry or operate unethically. It is amazing how a few continue to create discord, unrest and bad press for our industry time and time again. Voluntarily raising our own standards of conduct and discharge of responsibilities as an industry is long past due and ever more important as we move forward towards the future. Ken Winkle, Ex. Vice President, Yale Capital Group, Inc. “ And other comments, such as: “I paid my fees and got my books and study work done. I was tutored by Bob Rodi, but never took the test...shame on me I just never took the time or put forth the effort. Any suggestions? Thank you Leo Timmerman” “I have taken the course and find the material that is going to be covered in the test outdated or inconsequential. I also understand that the test is a 7 hour test and is hand written. I believe the test needs to be updated, modernized and in electronic form. The cost to take the test as well as travel cost to the location the test is being given makes it too expensive for many small companies. Email: donna.wesemann@susquehanna.net “ And then we had those who don't like CLP or CLP “lite” “While in "life" money is not the most important thing, it IS the lifeblood of business. The bottom line here is: How will becoming (any form of ) a CLP help my earning ability?? Email: spfix@leasesourceiunc.com “ “Who cares? The CLP program is a joke. Too many scumbags in the program for it to be legit. When's the last time you saw a GE, Wells, Key, CIT, etc. player with CLP on there business card? These guys do well over 90% of the business. CLPs are small timers. $0.02 Rich “ “Some of the most incognizant and supercilious people that I have ever met. Email: bstanley@westoverfinancial.com “ “We, as a broker, lessor have created a marketing campaign that has made central our position on interim rent, evergreen clauses, forced insurance and other items that many of the large leasing companies engage in. I also know certain brokers that are members of the different associations are also guilty of these practices. “We are a medical broker/lessor and have found physicians are real tired of getting screwed with Evergreen clauses and interim rent. As a result, this campaign has been very successful and all the above topics are now on our website. My question is this, how many brokers/lessors that are CLP engage in these practices? It would seem that these would be paramount to basic leasing ethics. “I would put these 'items' as primary ethics for CLP. as you know Marlin and Manifest engages in Evergreen puts!! To me that is unconscious able to renew a lease that has a stated final payment. we have to monitor all our lessees at the end of their lease. again, you should be able to trust who you do business with! Gary Saulter “I am in small ticket leasing: $5-$50K deals. Nearly every deal I am losing goes to another broker who is lying about their "rates." I do not provide customers with "interest rates" on leases and most prospects summarily move on to another leasing company who will quote them rates, fictitious or not, just so it's seen as convincing. “Our market charges about 17-18% on these leases (all-in), but my competitors and most of our employees go thru the gyrations of telling the customer about simple interest. "Take the total payback, then divide that by the original cost, then divide by the number of years (and, Voila) . . . the interest rate is about 9%." Our employees who do this convince 7 of 10 customers that the rate is under 10% and the customers agree to lease the deal. I won't do this as it's unethical, and by not quoting a rate I end up with about 3 out of 10 quotes turning into real deals. This industry has always had this problem which will continue without some type of CLP designation that the customer can recognize and feel comfortable knowing they are not dealing with "tin-men." And even then there will still be a significant amount of salespeople willing to lie to win. The bucks are there. I work with people who make over $250K annually off much less than $5 million in fundings. The conversations are all the same, all day long . . . "What's the interest rate you say?, well since a lease is not an interest bearing instrument, but you'd still like something *simple* to compare it to your other financing, right? OK, let's work it through together. . . " ". . . and that's your simple interest rate. Now what is your legal business name, address, etc? Leasing is one of the last bastions where cheat-the-customer-to-win still strives to be lower than stereotyped used car salesmen. “It's interesting to read the Leasing News, Leasing Monitor, etc. to hear about big deals, major accounts secured and big promotions earned. Sounds clean, impressive and competitive. But the bulk of leasing "people" are doing deals from $5K-$100K see what I am talking about daily (if they are doing any business to speak of). We are not in the lofty towers; we are at our phones and on the street telling our stories to win deals. To a CLP It's not a pretty picture, but it's real, and continuing to be common practice in this so-called profession. Even though it's my job and I do it professionally, I'll call this industry "a profession" when more people practice the truth in lending that customers really want.” |
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