I received an interesting call yesterday, so I figured that I would share it for the world to see my response...Or atleast possible California clients and Associates :)
The potential client called me and started rambling about random things, I tried to keep some flow to the conversation. In the end, I question if I ended up on some Los Angeles radio station, where I was broadcasted across the state for everyone's humor, including my wife's.
With that said, here goes:
Caller: What are your rates?
Me: Sir, I need to get some information from you before we go through rates.
Caller: I'm looking for a manafactured home.
Me: Great, have you found a property?
Him: Yes, in Red Bluff, California. I'm looking to move to Red Bluff.
Me: Ok, have you seen the property?
Him: No, my agent is XYX, he tole me about it.
Me: I'm sorry, I didn't catch your agent's last name, could you repeat that please?
Him: I don't want to tell you. He is busy.
Me: Ok (Back of my head...WOW!)
Me: Have you seen the property?
Him: No! I'm moving to Red Bluff
Him: How is it there? Have you been there? (Red flag number 1)
Me: LOL, You're moving to Red Bluff and you've never been there or seen the property?
Him: Yes, to raise sheep, the property is a double-wide on 11.5 acres.
Me: Ok, do you know how old the home is?
Him: 2 1/2 years
Me: Ok, do you know if the home is on a permanent foundation?
Him: No, what are your rates?
Me: Sir, there are a number of things that determine interest rates. For example: How much you plan to put down on the home, what your credit score looks like. Have you seen your credit score?
Him: Yes, it's 666 (Red flag...just happens to be the man downstairs's number)
Him: Hold on!
Me: Ok
Him: My son says that I should receive 5.5%!
(Now I'm trying to keep my composure and be a professional)
Me: Sir, I'm not going to quote you out some bogus rate over the phone. Certainly, there are companies that will do so. But, you will be suprised when your offerings are different when it comes time to sign documents than what you were initially offered. In our industry, they call it "Bait and switch." I am not going to do that. There is a proper way of going about things and I'm not going to simply through an arbitrary number over the phone to you.
Him: You asshole, give me your rates!
Click!
For potentially new clients that are out there, I think you should read my article, Comparing Apples to Apples When Shopping for a Mortgage.
For everyone else, I hope I gave you some humor for the day :) Through it all, I still love what I do. Why? No two days are the same and I get to see how unique each of us REALLY ARE through the loan process...
Scott Gormley
Broker/Owner
Oak Valley Mortgage
2006 Chico Assoc. of Realtors Affiliate Chairman
Direct: 530.592.8362
Fax: 530.267.5555
Website: http://www.carealestateblog.com/
Blog: http://www.caloanblog.com/
"You find the perfect home, we'll find the perfect loan!"
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