In the last month or so, I have seen usually reliable lenders getting stacked up and unable to handle the recent surge of business with the same level of customer service as in the past.
Last year things were slow and the banks were cutting back on staff. Many brokers closed their doors and now things are picking up again. There are fewer players to compete today for that business. A couple of lenders in our area who have been steady as the rock of Gibraltar are now stumbling. They have also tightened up with more than normal conditions on loans before funding. That was expected with the environment that they are working under.
I am not sure they really want my advice, but here it is anyway.
- Remember who brought you to the dance. Real estate agents like me bring you steady business, without compensation. My only vested interest is to get my clients good service.
- Make me look good.
- Communicate with me and my clients.
- Give us realistic timelines that you can meet.
- Take Care of my Clients!
I depend on repeat and referrals. Clients that are dissatisfied or merely satisfied will not refer their friends to me. They need to be wowed by the experience of buying their home that includes your part of the process. When I recommend a vender to my client they grade me on your performance also.
I keep a list of venders that I and my clients have had good experiences with. It takes a lot to get on that list. I know many loan officers and lenders and only a small select group makes my list. That is the same with the other types of venders. You can however be knocked off my list in an instant. That is true of the rest of the real estate agents in our area.
Banks may be busy today with refinancing, but that will not always be the case. When the surge of refis flush through the system, will you still be getting the home buyers through us? If you drop the ball today, you will be back on the street trying to replace that lost future business.
That is Hawaii Randy's tip for the day.