Reasons Why the Act of Communicating is So Very Important to Mortgage Service

Communication is essential to successful real estate SALES.

You can put information on the Internet, but until it reaches an interested party and you can communicate with a party, you just can't maintain sales and a cash flow.

Answer the dang phone. 

Agents who love technology appear to require that consumers and other agents communicate as they do.  I actually had one agent say they only communicate by text 

That's surely limiting your sphere.

Whether the communication is with the lender or the agent or the inspector.....or...or...email and texting has often ...too often replaced the sound of the human voice, inflection, etc.....and response....technology is a wonderful thing...over used or abused...not so much.

Another home run Gene.  Communication is key in this business!                                                                                    

Great post, Gene! In the end, it's all about communication from the start of the process to the end for all of us.

Gene, buyers don't realize they are often the reason for missing important deadlines. Communication is key and a quick response is a must.

I am reminded when I attended college just a few short years ago and how at the beginning of every class, the subject matter being introduced can come across like it is in Chinese...Two things came to mind...repetition and questions...The attention span may be different for each one of us

Excellent post - Timeline, Communication, Timeline, Communication, Timeline Communication - it is not all that difficult unless you are a busy buyer and are juggling many different priorities - but when you give them a timeline it is much more manageable!  Great Share - Thanks you!

Communication is always important to the mortgage process.  I suppose we have all had times when we seem to have "a missing in action buyer".  Often, they don't seem to recognize the importance of timely responses. I am sure this makes it really difficult for the lender.

Betty

Communication is always important no matter what service you provide...In real estate if you don't communicate you don't have a business...

Communication is the key to any relationship in order to have a successful one it must be kept open on all on all ends. Thanks for sharing.

Gene....a very timely post for me to read!  Communication is key but sometimes in spite of our best efforts there is a communication gap.  I just had a client tell me that they didn't understand what I meant when I said we needed their highest and best offer.  I thought "highest and best" was pretty clear but apparently not!

It's a balance I'm always trying to feel out with each new client--how much communication keeps their loan moving along at the right pace, and how much feels 'suffocating' to them, causing them to largely ignore my communication attempts. It's different with each person as each person is different. We've all had that dream client that answers every email and provides every piece of information or documentation we request almost immediately. Then there are those who just seem not to want to be bothered in the least with helping to get their loans closed. One tool I've found effective is that sometimes people are more comfortable communicating with me, and sometimes they prefer speaking with my assistant or their loan processor. Maybe it's a gender thing or a personality thing, but we usually learn early on who a client will talk to and go from there, rather than all three of us 'descending' on one client. Great advice for everyone in this article!

I cancelled a LONG and TIRING attempt at a re-fi of our current mortgage in May - took lender 3 weeks to STOP sending me requests for more information....I quickly what to DO and what NOT TO DO....

Hi Gene, 

I started using Google Drive to make a transaction timeline available to all interested parties. You can set it up so that every time an entry or change is made on the timeline, all interested parties can be set up to receive an e-mail. Having important dates made available to all parties involved I think will help make communication better and the transaction move faster.

Gene: Good thoughts. I think there is so much that needs to be communicated these days it's almost exhausting. At least it wears me out at times. All the things I have to check on and all the parties that need to know. I'm glad it's summer. Otherwise, it might be more troubling. Thanks for sharing!

Will definitely check out Google Timeline