customers: Ignorance or confused?
- 11/30/06 03:26 AM
I n the past couple of weeks I have been experiencing some interesting customers. I recently lost a deal to rate whoring. But what was confusing was my competitors lower rate came with $1500 more in closing costs, yet the lower rate was only $25.00 less per month. I pointed this out to the customer, explaining that it would take 60 months to break even, which is a complete waste. I then countered with the same rate and still lower closing costs, but they still went with the other lender because they made the lower rate first. Besides the fact that … (3 comments)
I n the past couple of weeks I have been experiencing some interesting customers. I recently lost a deal to rate whoring. But what was confusing was my competitors lower rate came with $1500 more in closing costs, yet the lower rate was only $25.00 less per month. I pointed this out to the customer, explaining that it would take 60 months to break even, which is a complete waste. I then countered with the same rate and still lower closing costs, but they still went with the other lender because they made the lower rate first. Besides the fact that … (3 comments)
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