Comments on: REALTOR vs. Loan Officer: Put Up Your Dukes

By: Rich Vosler

Rich Vosler — Sat, 23 Feb 2008 04:22:39 +0000

Chris, excellent post. I too enjoyed Chris Johnson’s post-especially the part where he calls all his people by 7:30 a.m. who he knows will be looking for answers. Communication IS key.

By: Rob Lusk

Rob Lusk — Sat, 23 Feb 2008 02:40:02 +0000

Chris,

It’s sad, but you’re right. Most lenders have not put the systems in place to generate great communication with all parties.

I’ve got a system I have in place with ACT that taps on everyone involved. I’ll be the first to admit that we don’t nail it every time, though we try.

I’ve heard of websites that can be generated to post the status. Does anyone know about these?

By: Jeff Brown

Jeff Brown — Fri, 22 Feb 2008 18:46:03 +0000

I had faith you wouldn’t let me down, Chris.

By: KC Investments

KC Investments — Fri, 22 Feb 2008 18:17:31 +0000

Sean – I’m relieved it was just figuratively.

Jeff – There is always later…

By: Jeff Brown

Jeff Brown — Fri, 22 Feb 2008 17:45:44 +0000

Kinda disappointed people. I thought for sure we’d hear at least one great hunting story.

By: Sean Purcell

Sean Purcell — Fri, 22 Feb 2008 17:40:55 +0000

Chris,
The best part about the story I left out of the comment. The agent who believes in renewable tags and I have a great relationship: we send each other clients and we have partnered together on another venture. Yet his admittedly figuritive little joke stil pops into my head EVERY time I am gifted one of his clients to help.

I have always coached real estate agents, when interviewing loan reps, to ask one simple question: “Tell me why I can trust $10,000 ($15,000? $20,000?) of my money with you?” If you do not get an answer that lights you up, don’t let them hold your money and CERTAINLY don’t let them hold your clients’ dreams.

By: KC Investments

KC Investments — Fri, 22 Feb 2008 15:52:18 +0000

Diane – How could I forget about the likes of you? I guess because we have an in house title person by the name of Jana. I’ve used her for years. And if I don’t do something right she is right there to smack me around. You simply cannot replace a great title person.

Robert – Like it or not I believe you are right about the LO being the center of it all.

Gina – Another example of people understanding it’s all about communication.

By: Gina Gardner

Gina Gardner — Fri, 22 Feb 2008 15:39:24 +0000

The best transactions take place when everyone–lender, appraiser, real estate agent, escrow / title officer–works as a team. It was always a pleasure to find myself working with people I respected and had closed successful transactions with before.

And you’re right about communication–my old branch manager’s policy was that all LOs had to return calls within an hour or they could find themselves fired. A little coercive, but it helped us all develop good communication habits and discipline ourselves to keep communication open, even when we occasionally had to give someone bad news.

When there is a real estate boom I think the influx of unprofessionals lowers expectations and makes the career pros look pretty good–people are astounded when you return calls and keep your promises.

By: Robert D. Ashby

Robert D. Ashby — Fri, 22 Feb 2008 15:31:14 +0000

Excellent point on communication being key. As Diane said, everyone involved in the transaction needs to be in the loop and I would say the LOs out there should be the central point of that communication.

By: Diane Cipa

Diane Cipa — Fri, 22 Feb 2008 14:51:02 +0000

Good point, Chris, and for the peace of mind of those out there in escrow and title, may I add, please don’t forget US!

If you plan to change the terms of a sales contract, the person who will actually draw the transaction documents needs to be in the ole loop.