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How to Keep a Difficult Deal Together

By
Mortgage and Lending with Arnold Fitger Williams
I've met a number of commercial realtors, and one of the things I tend to work into the conversation is to ask them about their difficult deals.
People who haven't had a difficult deal have no experience.
The common thread I have found in people's descriptions in how to handle their difficult deal successfully is surprisingly simple.
Call the other side frequently.  May not be every day, but it's at least every other.  And call them even if you have nothing to report.  Just report the status is unchanged, it's still on the decsion maker's desk, we're waiting. 
Call your client on the same schedule: a no-news call still makes the deal more real than nothing happening. 
People believe in things that have effects: and if a deal is communicated frequently, they believe in the deal.
Try it with your own deals.

Comments (3)

Joe Adams
Major Mortgage USA/Branch Manager - Montrose, CO
Communication  Honest Communication always works
Jun 22, 2007 09:51 AM
Arnold Williams
Arnold Fitger Williams - Los Angeles, CA
Joe -- you're right.  Honesty is important.  But frequency, EVEN IF YOU HAVE NOTHING TO SAY, helps keep the deal going.
Jun 22, 2007 03:33 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
I agree communication is important. You can not assume no news is good news.
Jun 22, 2007 10:18 PM