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“Shame on Me”

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Shame on Me”

 

I got a referral from a past client referring me to one of his relatives and as part of the email was the introduction. The email gave a glowing review of our working together.

 

At the end of the email he let me know that the company that we did the mortgage with did a refinance with them a few months back and saved them $90 per month.

 

If you think the public understands how the mortgage business works, most don’t. Even though I did a new mortgage for these folks, for whatever reason they did not understand that we also do refinance mortgages.

 

Would I have allowed them to add two additional years on their mortgage and add to the principal? I’m sure I would not. I thanked him for the referral and the glowing testimonial and let him know that I will call to personally thank him.

 

As part of every interaction that I have with folks that I do a new mortgage for I can also do a refinance for them if the numbers make sense.

 

Image courtesy of Pong/freedigitialphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Joe - sometimes even when you explain the borrower might cling to one thing and forget everything else.

Apr 06, 2015 06:14 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Joe

It would be safe to say most consumer's don't really understand the real estate or the mortgage process.

Good luck and success.

Lou Ludwig

Apr 06, 2015 07:33 AM
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Joe, 

It's what the public "thinks it knows" that is the most dangerous knowlege out there.  Too bad they didn't allow you the opportunity, but they love you and what you've done for them so far.  

Apr 06, 2015 08:19 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I caught that "If it makes sense" part, it doesn't always, and the lender can make sense for you.

Apr 06, 2015 12:19 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Joe Petrowsky , So many people don't take the time to ask questions before doing things.  it's up to use to keep them on track from going elsewhere.

Apr 06, 2015 12:40 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I had a past buyer who got into his home with an FHA call me because he'd made some improvments and want to know if I thought he could do a re-fi to shed the PMI and told me he'd talked to this guy and that girl and I reminded him of the hoops his original loan officer jumped through to help him and that's where he went back for his re-fi.  I guess it's the same as me remembering to tell buyers I list homes too.

Apr 06, 2015 12:54 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Some people focus on the wrong things and do not know how to ask the proper questions.  Having a loan officer that will give out all the options is what they should have had.

Apr 06, 2015 12:59 PM
Roy Kelley
Retired - Gaithersburg, MD

This is a very good reminder that clients need to be reminded of the services we provide.

Have an outstanding day!

Apr 06, 2015 08:37 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

This can pretain to agents as well. We need to stay in touch so when they get these offers they will call us to ask if it is the right thing for them. They may be ready to buy and move on.

Apr 07, 2015 11:08 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Your such an honest guy where the other was not. You really have to look at the numbers & not get stuck on that $95 per month. It kills me when I hear people refi after having a loan for 10 years start all over again for a 1/2 percentage point.

Apr 08, 2015 11:46 PM
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Almost shame on me!  I saw a for sale sign on a property that had been there 6 months.  I had sold the property next door thinking I really need to call my buyers and let them know about it.  We closed last Monday.  That one could have easily been lost!  No shame...just too much work Joe Petrowsky 

Apr 09, 2015 12:12 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning again Joe. You always learn and use that in the future. Smart.

Apr 09, 2015 12:12 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

It seems that we must constantly tell people about our services and what we can do for them now and in the future. 

Apr 09, 2015 12:55 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Great title Joe, but there is no shame, at least in my mind. For a million distracted reasons, clients Do Forget what we can do for them. Sometimes I even wonder if they don't want to bother us!

My guess is a new mix of outreach methods will help you remind your past clients of all you can do for them.

Apr 09, 2015 01:13 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Ouch, 

I saw a past client of mine list and sell the home I sold them with another agent.  And I had been keeping in touch.  It hurt, but I know the other agent goes to their church and so I did not take it personal.  

Apr 09, 2015 01:37 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Lesson learned, right?  Sometimes you just never know what people will remember or forget!

Apr 09, 2015 02:45 AM
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

That hurts, doesn't it? The same thing happens to us on the home buying/selling side of the fence.

Apr 09, 2015 08:38 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Joe Petrowsky 

It a great reminder, or I guess a wake-up call to make sure prospective, current and past clients really do know what we can do. I find people often forget I can help with referrals to agents in orhter parts of the country, and local vendors

Jeff

Apr 09, 2015 11:22 AM
Tammy Adams ~ Realtor / Podcaster
Maricopa Real Estate Co - Maricopa, AZ
A Maricopa Agent who Works, Lives & Loves Maricopa

I'm sure we all forget to remind our folks other services we can do down the line. 

Apr 12, 2015 10:19 AM
Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

Hi, I can't believe I missed this post, great read on todays hot topic. Thanks for sharing.

Apr 14, 2015 02:44 PM