The Greed Report: Don’t Get Taken by Someone Like Me! A Telemarketer Tells All

If there ‘s one thing Tom Arnold knows how to do, it ‘s separating people from their money — over the earphone. He figures he made $ 3 million as a telemarketer, selling purportedly rare coins through boiler board operations on Long Island.

now, he ‘s sharing his secrets entirely with CNBC ‘s “ American Greed. ” A pleasant, unassuming 38-year-old, Arnold surely does n’t come off like a convict artist. And that was at the top of his base of tricks. “ The nice you spoke to people, the better results you would get, ” he said. Ciaran Griffin | Stockbyte | Getty Images Arnold says he would make 1,000 in a distinctive day. That ‘s right. A thousand calls. In an eight-hour day, that works out to about one call every 30 seconds. “ You would call 1,000 people because people would hang up on you sometimes and you just had to keep dial, ” he said. “ For every 100 calls you ‘d make, you ‘d probably get one sale. ” That meant the few people who took his calls and actually stayed on the telephone line would receive the extreme caution. “ You had to be very earnest and soft-spoken and, you know, always agree with what they were saying, ” he said .
Larry Washburn | Getty Images Of naturally, getting the person to stay on the occupation, vital as that was, was good the startle. Arnold ‘s real persuasiveness was his ability to close a sale, getting entire strangers to pay big money for coins, sight spiritual world. sometimes he even got them to spend money they did n’t have. “ You would encourage them to take out an fairness loan or any type of way to get the money for the coins, ” he said. Arnold was smooth. But he immediately admits he was just truly adept at following the script given to him by his employer. “ You would fair become an actor and basically were just there to read the handwriting and do the acting part. ” The script included what are known in the occupation as “ exponent closes ” — cautiously crafted lines to get person on the fence to take the plunge and buy .

persona reservoir : Inti St Clair | Blend Images | Getty Images “ american Greed ” obtained some of the sample scripts. “ Look, I wo n’t have the pieces next workweek. I have them NOW. ” “ I have opportunities on coins all the time. But I ca n’t stress how crucial and worthwhile this opportunity is. I ‘m going to get the coins out to you. OK ? ” “ I know I ‘m a disembody voice over the telephone, and I ‘ll constantly be that unless you give me that opportunity that I need to impress you. I promise I wo n’t let you down, OK ? ” Experts on telemarketing imposter have heard them all before. fortunately, the National Telemarketing Victim Call Center — a Los Angeles-based nonprofit organization group — has developed a script of its own, for you to use when a telemarketer calls : Caller: “ I ‘m the expert and I want to make money for you. ” You: “ Are you licensed ? How much commission do you make ? ” Caller: “ This investment is better than the stock marketplace. ” You: “ You need to give me a comprehensive examination plan, in write. ” Caller: “ You need to jump on this now ! ” You: “ NO ! ”
The varnish of the Federal Communications Commission at FCC headquarters in Washington. Getty Images Government authorities have been trying to crack down on telemarketing fraud for years, but it ‘s an uphill battle. The Federal Communications Commission offers advice on its web site. You can besides register your earphone issue on the Federal Trade Commission ‘s national Do-Not-Call list, but that does n’t guarantee that some calls wo n’t get through. Learn more about protecting yourself from all kinds of aggregate marketing scams at Arnold, who finally pleaded guilty to conspiracy and is working on repaying his victims, says even if you start to think you can trust the salesperson, do n’t let your guard down. “ Always consult with your other family members about any relationships that you have with anybody on the earphone, ” he said. And, he added, never make a decision on the touch. “ absolutely get a second and third opinion before you buy anything over the earphone. ” Or you could follow the sure-fire scheme used by the thousands of people Arnold did n’t manage to scam.

They were the ones who just hung up the telephone. Watch “ American Greed, ” Thursdays at 10 promethium ET/PT on CNBC Prime .

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Category : Coin collecting

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