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Screw You Too Lenox Financial! -- I'm No Taxi Driver

History of Earth? You've no doubt heard their commercials.

They are very memorable with their trademarked line "It's the biggest no-brainer in the history of Earth!"

The company, of course, is Lenox Financial whose cowboy hat toting President Jon Shibley promises homebuyers and borrowers no closing costs on their loan.

Usually their ubiquitous advertisements on the radio are humorous. However, today while driving to an appointment, I heard their latest ad.

Have you heard it?

Basically, the advertisement goes something like this (paraphrased):

"Why are you trusting your real estate agent to refer you to a mortgage lender?

Just 'cause this guy's been driving you around for a week?

That's like trusting a taxi driver to recommend you to a mortgage company! Go with

Lenox Financial -- It's the biggest no-brainer in the history of Earth!"

EXCUSE ME!?

Screeching halt As I screeched to a halt in the office parking lot.

Wait just a second...

Taxi?

They just equated a real estate agent with a taxi driver!

Are you offended? I AM!

Professional REALTORS have established relationships with reliable, qualified mortgage professionals. We understand the loan process, have worked with different lenders, and know what it takes to get a deal done on time with no surprises.

Mortgage professionals who rely on referrals from REALTORS know that they have to perform up to a high standard of accountability and in the best interest of the joint REALTOR/lender client if they are ever to receive repeat business.

Lenox Financial may have the funds to place national radio advertisements for their mortgage lending practice, while other regional and local lenders do not. Yet, to whom are they accountable?

REALTOR? Taxi driver?

Shame on you Jon Shibley!

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Posted by Brian Block -- Northern Virginia & D.C. Real Estate on 07/09/2008 08:56 PM

Comments (39)

lenox financial, mortgage lenders, jon shibley, ego advertising, screw you lenox financial

Post is included in group: Realtors®
Post is included in group: Mortgages
Post is included in group: RE/MAX Active Rain Bloggers
Post is included in group: Washington, DC Mortgage and Real Estate Issues
Post is included in group: Almost Anything Goes

39 Comments on Screw You Too Lenox Financial! -- I'm No Taxi Driver

JUL

2008

Yeah at least we got promoted from a used car sales person to a taxi driver WOW. we don't slam their profession, I don't believe some think when they run an ad, guess mark them off the list !

Brian, Oh my gosh...that is just about as tacky as it gets!

makes you wonder....there must not be any realtors who are willing to recommend them???

I'm with you that guy is a jerk. I am a mortgage person too but I'll bet last year that company was touting adjustable rates and option arms. I would refuse any pre-approval from that company. I think we all should do that. Tell the buyers they need to use a different lender.

SHAME SHAME SHAME on you Jon Shibley!

LYNN: These guys have a history of controversial advertisements and condescending accusations against other mortgage companies. I hope Jon Shibley reads this!

In a related story, a CEO's foot gets lodged in his very large mouth while attempting to hail a cab. It's reported that he used his foot to hail the cab because he had severly bitten his hand earlier that day.

ELIZABETH: You said it! Tacky. Tacky. Tacky. Demeaning too! To REALTORS & to hardworking taxi drivers!

KIM: I certainly don't think that Lenox thrives on REALTOR relationships but rather with direct contact with the consumers.

RUSS: I don't personally know anybody who's ever used Lenox, but apparently they've got plenty of money to keep running these ads.

CHARLES: Thanks for helping to shame Mr. Shibley!

MATT: I love your sense of humor. Thanks for lightening things up a bit.

Wow, it is surprising to me that a company like that would run such a campaign. They had to have known that would be "biting the hand that feeds them".

He's from texas.... probably a Dallas Cowboys fan :-)

MATTHEW: Yes, very surprising!

LEWIS: You are probably right! Figures.

Brian,

I heard that radio ad...What got me was the deceptive way they lead borrowers to ignore the fact that the interest rate will reflect all the 'no fee' goodies!!! Thanks, Fran

FRAN: Was wondering if anybody else heard it? Oh yes, very deceptive.

GO SKINS!!!!

That is shameful. I have not had the displeasure of hearing these ads (thankfully), but my reaction would likely be the same as yours. As a native Texan myself, I am disappointed to hear this.

You go, boy! Prior to being a Realtor, I was in lending. All it takes is a couple of closings to realize how important each of the pro's roles are in each transaction. It's surprising any company could let a campaign like this one hit the air.

Makes me wonder if a bunch of newly graduated, never bought a home before, dime a dozen advertising geeks came up with this over giggles and beer one night...On second thought, it could have been inspired by loan officers crying in their beer over real estate agents suggesting clients obtain and compare GFE's prior to selecting a lender...

Brian, I haven't heard these in Ohio...hopefully they aren't licensed here!!!!!!!!!

Brian, he's not only insulting us, he's also insulting cab drivers! And last week in New York, I met some of the best! Shame on you Jon Shibley! Cabbies are pretty cool guys!

Brian, wow - a slap at real estate agents from these clowns. I am offended too. Taxi guys and gals earn their pay too.

I have always said I would make a great Taxi Driver maybe it's time for a change?

hi Brian. I wonder if there are any taxi drivers out there who are equally offended by these ads? I actually knew a taxi driver who I thought would make good real estate agent. I asked if he would be interested and he told me that he couldn't afford the pay cut!

JUL

2008

Brian, I've heard of this company as well. It's a good point you brought up. Agents=Taxi drivers. All we need now is a new coat of yellow paint. I think I'm going to be collecting tips from now on. That should help pay for the gas. :)

Brian - great post! Welcome to our world. He has been on the radio in Georgia for years. I wonder what type of borrower he attracts with that advertising, and if they would even be borrowers you'd enjoy working with.

Two things my parents taught me growing up were:
(1) Nothing is free. I thank my Dad for that lesson every single day. If you, as a home buyer, work somewhere and expect a pay check, why should someone work on your loan for free.

(2) The dog who totes the bone, carries the bone. In other words, those who bad mouth others will bad mouth you as well.

Brian-Great post, I have heard his commercials here in Boston. How dare Jon Shibley insult realtors and Taxi drivers. I do believe that taxi drivers are really having a tough time with the ever rising price of gas.

Joe

Brian,

We actually filed some complaints here locally about false radio advertisements and got some of the more outrageous misleading ones taken off.

I saw him in a PBS TV interview and found him to be very much a turnoff. The other participants were professionally dressed. He represented our industry in a open short sleeve shirt and displayed his talents at talking fast. Not saying anything, but very fast, side stepping some questions about his business practices.

He markets mortgage gimmicks, and evidently has done so quite well.

Richard

Brian,

We got this yahoo in our market as well, and his commercials are insulting to the public's intelligence. He has been insulting the mortgage industry (his competition) for years. Now I guess he wants to attack his strategic business partners as well. My opinion has always been that his company is a borderline predator based on how they advertise to the public. They use very deceiving tactics.

Good for you for writing this post and exposing them for what they are.

Hi Brian: the bait and switch artists will always be out there praying on the public. Most consumers know better and won't take advantage of Lennox's supposed great deal. The few that do will either be sorely disappointed or taken advantage of. We'll see if Lennox makes it. Remember Ditech? Have a great day!

Paul

Every time I hear his radio ad, my bllod boils! I actually change the station right away! Shibley admits on his web site, " I wasn't very good at building relationships with real estate agents". No wonder he slams Realtors.

I hate his commercials and hear them all day on Fox News in my truck. He makes people feel like they are stupid if they don't call him...it's his tone of voice that is so annoying. Good post!

Wow! How do they work with us Taxi Drivers? I could say so much but it has already been said.

i'm telling you guys... it is because he is a dallas cowboys fan! He can't help it... GO SKINS!!!

JUL

2008

He has ran those ads in Atlanta for over 2 years! The ads sound so sleazy and slick. I wonder why anyone would use that company.

Jim -

My company advertises on radio quite a bit in the DC / Baltimore market where we are located and licensed. I go up against him. My pitch is the opposite of his. Less aggressive, more approachable, solid advice vs. slick talking.

I can tell you from conversations with radio sales reps - this guys ad works and is still working...... I agree with most bloggers who are bashing his approach on here, i would never use a slick pitch as he does, but i am telling you, he is laughing back at this blog while his phone lights up.....

unfair as it may be - marketing is king remember Dietech????

JUL

2008

Brian - Thanks for the heads up on that one - I know of one company I will NEVER recommend!!!!

Actually, I have two excellent mortgage peole I like to refer to.............I have worked with them for years and they are just fantastic to work with!

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