Tpillshe Doctor walks in and greets his patient.

Doctor: Hello! How are you today?

Patient: How many pills can you give me?

Doctor (taken aback): Um...pills...well, tell me more about your condition.

Pt: Well, I'm in the market for some pills and I'm just checking out different doctors to see who has the best deal.

Dr: I see...well, what seems to be the problem?

Pt: I'm sick and I need some medicine. Can you give me some free samples?

Dr: Before I do that, let's find out exactly what's bothering you. You say that you're sick...let's take a look at your throat. Say Ahhh....

Pt: Hm. I'm not really interested in a full examination right now. I just want to know how many pills I can take.

Dr: Well we have all sorts of different medicines. In order to know which is the right one I'll have to ask you more questions and find out more about your condition.

Pt: I just got off the phone with another Doctor and he said he could give me one month's worth of pills.

clown doctorDr: Really?

Pt: Yes. And I spoke with another Doctor that I found online and he's already given me one week's worth of sample pills asking me about half the questions that you've already asked me.

Dr: . Well...let's see...do you have these pills with you right now?

Pt: I don't see how that's important. What kind of pills do you have for me today?

Dr: I think it's important for me to see that prescription before you start taking those. How about you bring me those pills so I can see if...

Pt: I can tell this isn't working. Thanks for your time.

(Patient Leaves)

............................................................................................................................

Getting a mortgage loan is a lot like going to the doctor.

A doctor that hands out pills without asking a lot of questions and examining the patient isn't really a doctor, right? That's called a drug dealer.

The days of 'one size fits all' home loans is gone. Still, it's tempting to ask someone "What's your interest rate today?" and go rate shopping.

The problem is, there are as many interest rate and loan fee combinations as there are different types of medicines...and the person who just gives out interest rates without asking you important questions isn't a mortgage loan professional.

Norman Rockwell Painting - DoctorJust like a doctor needs to find out what ails you, a professional home loan consultant needs you to open up and say "Ahhhhh".

Especially today, when the slightest changes in credit scores, down payments, home equity and the like can result in enormous differences in your loan.

And just like you don't want to mix certain medications, a good mortgage lender will take a look at the big picture. What are your plans? What are your goals for this property? How is your overall financial picture?

Rate-shopping gives the illusion of consumer confidence, but what it really does is connect you with the 'mortgage pushers' instead of a decent family doctor.

Meet with your home loan consultant in person. Get a recommendation from a local Realtor or other real estate professional that you trust. Reputation and reliability are the key. You need a mortgage person that keeps their word and gives a fair deal.

But that involves a certain amount of trust.

Now cough! :)

...................................................................................................................................................

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Joey Aszterbaum is the Hemet Home Loan Guy and a member of the Active Rain social network of real estate professionals. To buy or refinance your home in Hemet, Riverside County, or California visit www.HemetHomeLoans.com or call 951.571.5751

 
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37 Comments on Doctors and Drug Dealers - A Real Estate Parable

MAY
02
2008
485,208 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router
I think that comparing some of the loan officers to drug dealers is a pretty good comparison.  It is unfortunate considering how many great loan officers are out there.
3:30am • #1
400,373 Points 72 Featured Posts Outside Blog

LOL Joey...

Love. Love. Love this parable ... Very funny. You really should post this sucker into the AR Comedy Club.

On another note...I just saw a comment by you on another post.

The next time I decide to make prank calls you're so going to be on my list :)

TLW...ROAR!

4:45am • #2
359,495 Points 7 Featured Posts Localism Sponsor Outside Blog Hit Router

Joey,

Once again, you keep us laughing......hope you are well and busy........

5:16am • #3
Joey - great wonderful fantastic superlative post. Is it featured? Why not? Who do I need to call? :-)
5:48am • #4
357,095 Points 59 Featured Posts Localism Sponsor Outside Blog Hit Router
Joey, excellent analogy.  Rate shopping gives consumers a false sense of control.  They don't know, as we do, that there are so many other ways for lenders to manipulate the costs and their fees and that 5.875% rate at one lender may be totally different than the 5.875% across town.  People need to work with a lender who will give them the entire financial picture and counsel them on how the mortgage will fit in with the borrower's overall financial strategy.  Great post!
7:11am • #5
I love this post!  I wish everyone else would understand that there is more to it than spitting out rates.  :)
8:18am • #6
558,354 Points 95 Featured Posts Localism Sponsor Outside Blog Hit Router
Joey, this is a great analogy for Realtors and potential sellers too.
8:20am • #7
299,316 Points 15 Featured Posts Localism Sponsor Outside Blog
Hi Joey,
Love it!  What a great way to get the point across, there is more to a loan than the rate!
8:32am • #8
114,512 Points 9 Featured Posts Outside Blog

Randy: One bad apple, eh? It's the same for Realtors isn't it? People call the office shopping for the person with the lowest commission, then their house stays on the market for 281 days. Thanks for visiting.

TLW: That means a lot coming from you. Alas, I placed the article in five groups already so the Comedy Club will have to go without! I'm always trying to provoke you in your husband's posts...I assume that's what you're referring to? Looking forward to that prank call!

Juilie: Glad to be of service. Well and busy...that's a good description. Hoping to get a full-time admin hired soon so I can reach out to more folks soon. Hope you're doing well, too!

9:25am • #9
114,512 Points 9 Featured Posts Outside Blog

Jackie: Thanks. Not to campaign, but when you read a post that you think ought to be featured, you can click the 'flag' and express your feelings. I do it all the time for the posts that I think are great. Thanks for your kindness.I trust I can rely on your vote! :)

Brian: I understand that desire for control, but I've seen it backfire. I even have a letter from a client that worked with another lender because of those empty promises and ended up really regrettting it. It's ALL about working with someone you trust. Maybe I'm a sucker, but I don't care about price differences as long as I'm working with a good person and am getting a good deal.

Naoma: I wish they would, too. That's why I give you permission to email links to this article to everyone you know! ;)

9:29am • #10
114,512 Points 9 Featured Posts Outside Blog

Missy: So true! People have resistance to salespeople, and part of that is that a lot of salespeople don't care. But the good ones know to ask a lot of questions, add a lot of value, and back off if they don't have the right solution. I think a lot of people can tell in their gut when they're speaking with a real pro who has their best interests in mind, but the competitive over-shopper turns off that instinct by being to guarded and focusing only on price. because of that, they end up with the pushers. Bummer.

Cynthia: Thanks. I like to think of myself as "The Family Doctor" of mortgage loans...but I see a bunch of pushers out there. Come back soon.

9:33am • #11
158,508 Points 9 Featured Posts Localism Sponsor Outside Blog
Joey, Great analogy i think. Very very good. Got a good laugh, and a much needed one!
10:46am • #12
114,512 Points 9 Featured Posts Outside Blog
Elizabeth: Thanks for visiting. And laughing.
11:06am • #13
261,938 Points 59 Featured Posts Outside Blog
Joey - This is one of the BEST Mortgage Posts to date I've seen!  Phenomenal job my friend, SUPERB!!!!
11:09am • #14
114,512 Points 9 Featured Posts Outside Blog
Jason: Coming from the Jim Morrisson of home loans (Jim Mortgageson?), that is a very high compliment indeed. Thanks for being a friend.
11:19am • #15
254,701 Points Outside Blog
Great analogy!  You made it very clear.  Thanks for posting!  :)
11:40am • #16
114,512 Points 9 Featured Posts Outside Blog
Debi: You're most welcome. Thank you for visiting...come back soon.
12:39pm • #17
Fabulous Post, thanks for writing!  I would love to include it in our newsletter if that is OK! You really hit the nail on the head!
Bridget McGee
12:47pm • #18
114,512 Points 9 Featured Posts Outside Blog

Bridget: I would be honored. Just send me some copies. Thanks!

12:48pm • #19
113,338 Points 7 Featured Posts Localism Sponsor

Joey - Yet another great analogy!  You are so good at that.  I want to write like you when I grow up!

~Renae

2:19pm • #20
114,512 Points 9 Featured Posts Outside Blog
Renae: Don't grow up. It's so overrated. Thanks for visiting!
4:00pm • #21
400,373 Points 72 Featured Posts Outside Blog

Joey...

I called you today and unfortunately for you...I don't do answering machines :)

By the way you sound...Well...Young :) 

TLW...ROAR! 

5:45pm • #22
1 Featured Post

Joey,

Would've sent this "Kudos to you" comment much earlier, but wasn't logged-in. Considering the caliber of this post - and the fact that it put one H&*L of a smile on my face - I felt you at least deserved knowing who it was that appreciates your writing! So, with that said...

Thank you! I will - I'm sure - make reference to your analogy if/when the need presents itself in future dealings.

Scott

5:46pm • #23
114,512 Points 9 Featured Posts Outside Blog

TLW - I was dreading the idea of you prankin' me...but now that I missed it I actually kinda feel bad. I'm pretty young, darlin'...turning 33 in a week.

Scott: Thank you for your kind words. Yes...borrow the anaology - it will present itself, even in less adversarial situations. I often will share "You know how a doctor asks a lot of wuestions before he gives you the medicine? What I do is kind of like that..." Thanks for coming by.

5:51pm • #24
400,373 Points 72 Featured Posts Outside Blog

Now see...

That wasn't so bad ... Now was it? :)

I didn't bite ya or anything :)

TLW...ROAR!

6:17pm • #25
114,512 Points 9 Featured Posts Outside Blog

Mom? Nope...that wasn't so bad. I ruined the suprise, but you handled it with panache, by golly. No more ballyhoo from you, Mrs. Shenanigans...Criminy!

(so good to meet you..really)

6:21pm • #26
1 Featured Post

Joey,

OK, it's a bit "off topic" but...

Thanks to my ineptitude and some "fat-finger syndrome" recently, I managed to lose my entire mailer program's address book. Thankfully, it is working otherwise, and beeped at me recently w/a kind note from you (much thanks!). Anyway...

You know what, I'll send you a private message, as I've read several other blogs w/comments I have felt are inappropriate to the subject at hand, and don't want to do that here. I will tell you that I'm "flying solo" as relates to cyber-space here in my neck-of-the-woods, and just tried creating a new BlogLog(?) account w/in Yahoo, so...

Will (I hope?) talk soon. Once again, thanks for the post and its insigh and forgive any type-o's (spell-checker's not working either?).

Scott

6:47pm • #27
114,512 Points 9 Featured Posts Outside Blog
Scott: Looking forward to it.
6:51pm • #28
108,424 Points 8 Featured Posts

Hey My Joey! This is easily one of the most deserved features I've seen in quite awhile. You are EXACTLY RIGHT and you found the perfect analogy. I'm going to steal that last line ;-) Imagine how seductive I'll be as I sweetly utter those words at just the right moment!

p.s. He IS Jim Mortgageson!! LMAO!!!

9:27pm • #29

Two thumbs up.

9:53pm • #30
407,499 Points 21 Featured Posts Localism Sponsor Outside Blog
JOEY, I loved the analogy.  I sometimes get frustrated in my end of the business but I can't even imagine what you guys must deal with.
10:58pm • #31
114,512 Points 9 Featured Posts Outside Blog

Jen: Thanks. I don't think the AR gods like me much...whenever they do feature my posts (rarely) they quickly feature 10 more so that I don't hover on the front page for more than a few minutes... (see me squeezing a phony tear?). The line is yours. And we gotta keep calling Sardi 'Jim Mortgageson'.

Shaun: Thanks. Come again soon.

Marchel: It's not frustration, per se. It's just that some people are so intent on 'taking charge' with this important business transaction that they sabotage a good working relationship. We've GOT to ask a bunch of questions in order to serve well. Thank you for coming by!

11:50pm • #32
MAY
03
2008
199,902 Points 1 Featured Post Outside Blog
Joey -I love parable's - it helps some people understand a whole lot better than the technical verbiage we sometimes use - another excellent analogy
10:49am • #33
400,373 Points 72 Featured Posts Outside Blog

LOL Joey...

Put the old wise man book of words away and you wouldn't be the first one to call me Mom in the Rain :)

It was nice meeting you as well. Really :)

TLW...ROAR!

3:17pm • #34
114,512 Points 9 Featured Posts Outside Blog

Kathy: Thank you for your visit today. The power of stories is that they connect the known to the unknown. My favorite teacher told a lot of stories...

TLW: You are the bees knees.

7:17pm • #35
MAY
08
2008
1 Featured Post

Terrific analogy Joey!  I wonder how many "drug dealers" are still in the marketplace?  I'm quite certain that many of them have gone back to the alleys from which they came.

6:41pm • #36
MAY
09
2008
114,512 Points 9 Featured Posts Outside Blog

James: That's certainly happening in my neighborhood. It seems that just staying in the game will be profitable for those that weather the storms in real estate right now.

1:38pm • #37

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Hemet Home Loan Guy, Joey Aszterbaum

Hemet, CA

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Address: Hemet, CA, 92544

Cell Phone: (951) 285-1012

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Hemet Mortgage and Real Estate Blog: buy or refinance, credit, things to do in Hemet, Realtor sales training and misc stuff from the Hemet Home Loan Guy a member of the Active Rain social network since 11/06.

BEWARE OF BLOG: Joey Aszterbaum disclaims liability for any damages or losses, direct or indirect that may result from use of or reliance on, information contained in the blog or for accuracy of comments or opinions of visitors to my blogs. Warm wash with like colors. Do not iron. If rash occurs, discontinue use.



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