“I Can Speak Realtor, Can You Speak Mortgage Broker?”

I received an irate phone call from a Realtor, saying that she saw no reason to have to get an extension for a closing for one week. I let her rant about how much she knew and that she had told the buyer, my client of 20 years, that they should go to a local bank instead of using a mortgage broker in Connecticut for someone buying a home in Florida.

I put the phone down a couple of times, as she still had a bunch of steam going. When I thought she was done, I thanked her for caring enough to share her thoughts with me. Her next move surprised me a little, she hung up.

About 15 minutes later her broker called me, asking me why I hung up on his agent? I told him I didn’t.

I figured it was time to take control of the conversation, as I needed to protect the best interest of my client. I asked him how long he had been a Realtor, he told me 15 years. Then I asked him how long his agent had been in the business, he told me less than a year.

I expected him to ask me the same question, he didn’t disappoint me. I told him I had been in the mortgage business since the 70’s. I also told him I was Realtor for 16 years. There was a long pause and he asked if I minded if he got his agent on the phone with us. Of course not. He must have decided that this might be a teaching moment.

Once on the phone, he asked his agent why she was so upset with Mr. Petrowsky? He proceed to explain a little bit of my background. She knew she screwed up. She then shared that she was counting on getting paid on this transaction. Wow, I honored her honesty.

I decided that this was indeed a teaching moment. So, I told her that I understand and proceeded to tell her about my first real estate deal that never closed after two month of work. I told her, “I had that money spent.” I told her that was a very important lesson, that I never forgot.

I then explained why the extension was needed. It was actually an appraisal issue, which unfortunately was pretty common in Florida. When the lender did a quality control check on the appraisal, they required an additional comp. The appraisal firm said they would have it in a couple of days, but I suggested one week to be safe. She said she would handle the extension with the Realtor on the other side.

I don’t know any Realtor that couldn’t tell my story or have a similar one. How about you?

image: salvatore vuono/freedigitalphotos.net