Our business is an every evolving business. Within the past 6 months alone there have been changes in how appraisals are managed, changes to the way lenders can conduct a transaction, changes to how properties are transacted due to the complexities of short sales. We as business professionals, and essentially the guardians and navigators of a real estate sale don't always have all of the answers. How can we expect our clients to not be confused and doubtful?
Clients don't want to let us know their degree of confusion or how little they have absorbed. Unless we create the comfort zone for them at the onset of the transaction there will be hesitation on their part. We have an obligation to let them know early in our relationship that it's acceptable to make us stop and clarify a point. We have t let them know that there is no such thing as a dumb question. After all, the money being spent or borrowed is not our money. At the end of the transaction we walk away and there is only one person or couple left with the financial obligation, and as we have seen over the past 18 months, if we do not let them know that it's permissible to stop us and ask a question they could find themselves with serious problems down the road.
When meeting clients for the first time, I lay out the rules, and one of the rules is to ask questions, no matter how foolish they think it might be. Many times, our pride makes us pause when we have doubts, and even though we may think we know the situation, we cannot expect to have all of the answers unless it's something that we deal with non a daily basis. We can not assume that the clients, whether first time buyers or even people that have bought and sold several homes over the years are current with the obligations and conditions that they may encounter as they progress through a transaction. We don't know all the answers, how can we expect them to be aware.
We should also let them know that it's okay to stop anybody that is working for them and ask the questions. We can get so complacent in our jobs because of the routine, that we almost anticipate the next step in the process. To someone making their first purchase there is nothing routine about the deal to them. They need our guidance, but guidance without the understanding of what's going on is like leading a herd of cattle. If that leadership slips just a little then that herd of cattle is destined for trouble.
We need to let them understand that it's expected of them to ask questions. Ask the loan officer to clarify details. Ask the inspector to back up and go over that again. Ask the lawyer to explain the conditions on the mortgage contract, Ask questions and don't leave that point until the question is properly answered. We must let them know that there is no such thing as a DUMB question.
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