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I am troubled (an open letter to professionals)

By
Mortgage and Lending with Major Mortgage USA/Branch Manager

 The state of our profession troubles me.  I have stewed on this for many, sleepless nights; but I am troubled by our lack of knowledge,caring and compassion.  If you add on top of these things the so far out of touch most in this business are; well I am deeply troubled.

 Lets start with the out of touch professional.  Sort of like a pirate that doesn't understand that the world has changed in the last 10 to 30 years.  I received (actually was cc'ed) on an email yesterday that was a forward of a NY Times article from 1999 about the loosening of credit and the Clinton administration's desire to advance home ownership.  I asked this person (with 30 years of experience) if they had read what they sent on to the management of the company.  I was told yes.  I asked do you understand that this is OLD news and even if you didn't read it 8 years ago you should have heard about this at least in the last oh say 2 weeks or so......... I was called, well never mind.  The point is how can you claim to be a professional, if you are out of touch and not up to date on what is happening around you.

    How about being knowledgeable about your market and product offerings? There are loans available to purchase homes!!!!  Mortgage Professionals should make it their duty to help Realtors understand the programs more than enough to speak to the client.  After all the Realtor is in many cases the first contact with the home buyer and the home buyer looks to the Realtor to guide them and help them navigate this emotionally charged time.  Remember this, one of the 3 most stressful things in life is PURCHASING A HOME.  If I as a lender do not help my Realtors understand the loan programs, then how can my Realtors help their buyers and sellers?  Also, to the Realtor that may actually read this....  seek out a mortgage pro, you will be surprised that yes I would love to tour homes with you some day when you are previewing homes..... we just might come up with a plan to market it that might help us both!!!!

 Seek out a mentor or a sounding board, not just here in the rain;but someone you can see and have coffee with and share stories.   Listen to this person's words and advice.  Do not just blow them off or they will fire you as an associate.

 Seek other ways to grow your business.  I have received many calls from across this land from my blog.  I have referred a few to other professionals, some I have helped and some I can not;but they found me from this blog and the ones that got referred where from professionals I came to know and respect here.

   Seek out different ways to do business.  Ways that make you happy and fulfill you.  Seek out someone like Jennifer Allan. Learn to enjoy and embrace what we do for a living, besides no one said you can not have fun and make a paycheck.

 Caring and compassion...... Well, look times are crap everywhere and we need to keep our negative thoughts to ourselves.    We need to be understanding that people are scared and unsure of things, but if we are up to date on the news (not the headlines) and can discuss things with clients and we can assure them that; yes there are loans out there to help them reach their dreams and goals,

then we are good professionals.

 

Comments (8)

Anonymous
New Chick on The Block

Well I've been in this field for less than a year. I know abandon ship now. I first started thinking I could wake up take the kids to school and work for 4-6 hours. Now I'm working from 7am to 8pm with little money coming in.

I've come to this conclusion there is money to be made but if you want to be honest and fare you have to work extra hard. Instead of taking that Short Sale Listing explain to the seller they do not have to sell call there banks and they will work with them. I've lost 10 listings but have gotten atleast 25 referrals : )

Educate the buyer before showing property and they will make life easier in the long run.

Start up BPO's because they will pay the bills and in the long run I may just get a listing....

Again I'm new but I do not see what everyone is talking about there is no dooms day America should be rejoicing this market is for everyone I bought 4 houses in 2005 I sold them and made out great I currently have 2 houses and still smile when I go to the bank.

Realtors need to be optimistic

Oct 14, 2008 01:31 PM
#1
Mike Mitchell
Kee Realty - Saint Clair Shores, MI
REALTOR (R)

Joe - enjoyed reading your post, some very good points.

New Chick on The Block - Great attitude, the glass is half full, good luck to you.

Oct 14, 2008 01:38 PM
Eric McGowan
Moody, AL

Joe, well put. When I started originating I primarily encountered investment properties and/or block loans. This was great training but the rates were astronomical. I look at it this way, if I could sell a section 32 loan or a 17.99% home equity line then I have no problem giving a customer what they qualify for at the time they inquire. For most of us I wish sub prime had never existed. I have made good money (primarily "A" lenders).  For the long haul though commitment, attitude, and "strength" are better at guiding us than anything "fear" can put before us.

Oct 14, 2008 01:41 PM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

You are so right on. But we all need a breath of fresh air and just chill out. I think it will get better maybe worse first but it will get better and then this will be a distant memory RIGHT.

Oct 14, 2008 01:42 PM
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert

Look for the good everyone...look for the good and let go of the rest.

Oct 14, 2008 01:44 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

"our lack of knowledge,caring and compassion"... I don't agree that most of us are that way.  We are passionate about what we do, we blog, learn new technology, new ways to promote our properties, our communities, ourselves. Learning about short sales, new financing plans, and redefining what we do is on going. Over 400 Maine realtors came together last week for a convention that taught us much.  Don't be too hard on our profession...we are fighters and the longer you are in it, the tougher you get to be professional.

Oct 14, 2008 01:50 PM
Jason Peebles
Nextage Lone Star Realty - Austin, TX
Associate Broker

Joe;

I am so glad to have come across your post.  I could not agree with you more.  A very similar example occurred yesterday with me.  I received (as well as every other agent in my office) an email from an agent regarding a particular subject.  I saw it on my phone and did not read it right away.  Then a few hours later, the same agent sent another email with the same subject.  This time, it was the agent apologizing for sending out the first email from a client and not checking its content (apparently the client asked the agent to spread the news).  Regardless of what the email was about, I found it a bit disappointing that an agent with that much experience would email something like that without having read it first.  Well actually, I suppose that does not surprise me that much.  I am big on education and have always been.  I understand that not every agent will have a college degree, or an advanced college degree, but I wish I would see more of an interest from many of the agents that I work with to continue to learn and educate themselves.  It does not matter if you have been selling real estate for one year or 30 years, there is always the need to continue to educate yourself and be the professional that you claim to be.

Oct 14, 2008 02:02 PM
Melissa Breeland
Residential Mortgage of SC - Charleston, SC

You write the best blogs! Thank and keep it up. :)

Oct 17, 2008 01:24 AM