How many times do we use the phrase, "I am so busy, there is not enough time in a day". As a professional mortgage banker, helping people with FHA loans and Conventional loans, I have been very busy the last few months. And there are times, no matter what month or time of day, I am beyond busy. At times, I will admit, I will ask someone if I can call them back in a few minutes, maybe an hour later, or that night. Sometimes, I will just ask them if I can speak to them tomorrow. I have always believed in setting my clients expectations to a certain level, no matter how good or bad the news is.
But are you the other type of person that is not organized, who always says you are extremely busy, but you aren't doing much? Or you just get to people after you are done lounging at work? A huge pet peeve of mine is when a consumer tells me that they spoke to a loan officer who never gave them a good faith estimate. I tell them to call that person up and ask for it. That loan officers response is that they will send it out soon. 3 days later, nothing. The consumer's answer? "ah, they must be busy". No, no, and triple no. You are never that busy. I can't stress this enough to all consumers out there. There is busy and there is poor execution. If you want a laugh, Randy Prothero wrote this : What Takes More Than Three Weeks and is Quite Annoying?
As always, there are many kinds of busy. But what do you put up with? If you don't know any better, do you just sit back and wait? Do you call back that same day? The next day? Yes, I think so many of us demand service now, same day service, and sometimes will let the other party know this. But does this force others to give you answers quickly, that might be incorrect, because you expect things in "now mode"? Does this result in poor service? Do you respect someone that gives you an answer that you don't want to hear? Which may result in costing you more money in the long run, because you went to a "yes sir" type of person?
Overall, when it comes to mortgages and real estate, if you are speaking to a professional, they will be upfront with you. If you are the type of person that can't except that answer and seek help elsewhere, remember, it might come back to haunt you. Yes, we all want your business, but at what price to you, the consumer. Keep in mind, some of these red flags also. It may save you thousands of dollars. Consumers need to be aware of these Red Flags !!!!
PS.... Randy Prothero's post was funny to me, because I have been in mortgages for almost 16 years. But it was not hilarious funny, it was sad funny. In all honesty, extremely sad and I can't believe people practice business like that. I don't care what kind of producer that you are, that is why people have what's called, "assistants".
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For more information on FHA loans, please go to this link. The FHA Expert
For more information on how you can obtain your dream home, please click here : Mortgage Financing Options
For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!
Copyright © 2008 by Jeff Belonger
Gee I hope I'm never guilty of being too busy to respond properly to a client. Veronica
Rich, Sometimes people need to speak to you NOW and I always stop and take the time if I can, even if it's during dinner. I don't know if that's right or wrong but I will take the time to help someone or call them back as soon as possible.
Jeff - I agree with setting expectations, then FOLLOWING THROUGH. If someone tells me they'll do something by tomorrow, I should be able to count on that, and not have to call them back 4 days later.
Jeff, I can't comment on your blog right now. I will get back with you in 3 weeks, I am extremely busy right now. LOL.
So True.
Buzzy, buzzy, BEE. FHA and the States are trying to make it a little more difficult by changing the rules in true emergency fashion, every other week.
Hi Jeff,
You set the bar high, now all you lenders please step up and measure yourself by Jeff's bar.
Nice....I have always defined my recruits as either Players who come to play to win or Pretenders. Pretenders say all the right things, but never deliver. Pretenders have flocked out of the business when times got tough. This is great fo us all.
It is sad that there are folks out there who practice business that way. I guess that is what will guarantee the rest of us job security. It also hurts the image of our industry.
Jeff - Follow up has always been one of my strong suits, whether the news is good/bad/indifferent. I've been very busy as of late as well and try to keep up with everything and everyone accordingly. Randy's comment above is dead-on.
there is never a good excuse to not get back with a client within a day...even just to update them on when you will be available. That is why I always get email, cell phone and home phone. there are too many ways to communicate these days to not get back with someone.
Hi Jeff: I'm pretty busy and it's starting to yield some good results. Personally i try and keep my head down and away from the water cooler! If I find I'm losing my track, I'll go do domething else for a period until I can get back in the game. Take care.
Paul
Jeff, the "busy as a bee" reminds me or the Fed-Ex commercial where the guy is in his office and has nothing to do but has not gotten use to it yet.
Oh well, if it saw it you would remember it.
The thing that is scary to me in this post is it is off both sides of the industry. I had a loan that went south real quick and my loan officer never got me involved. The customer called corporate and got my name and contacted me. When I tried to reach my loan officer I would not get a response. I sent an email to all parties involved to let them know that I would review the issue and straighten the loan out. At midnight I got a response from the loan officer that he had things under control and would be in touch with the customer the next day.
The following day, I contacted the borrower again to find out that my loan officer now has a "day job" and he is only reachable by night. Unacceptable and will not be tolerated. As the loan moved forward, my loan officer was always 2 days behind in the progress of the loan. It is sad, but true.
Jeff I have a couple loan officiers that I work with regularly. But I'll admit my favorite always calls me back within the hour no matter what is going on and never is too busy to talk with a client of mine. I have another one who is also very good been in the business a long time and she will ususally call me back by the end of the day. Sometimes that really makes a huge difference in the situation in my market.
Jeff, sometimes I wonder. Am I doing the right thing or am I just doing to be doing in hopes that it will be the most efficient at the time. When you're into blogging you can get carried away. You just have to ask yourself if what you are doing at the the moment is the most efficient at the time.
Jeff-I have to agree set the customers expectations. I try and be very truthful when I can return the call.
I would rather have all the info I need or spend the amount of time they deserve than short change them.
Congrats this post has been selected for a Bloggers Choice Selection.
Hi Jeff,
Great post and an excellent reminder on prioritizing things!