TRUST - Find a trusted realtor or loan officer - Who defines trust ???

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Mortgage and Lending with Social Media - Infinity Home Mortgage Company, Inc

 

TRUST – Trusted – Find a very trusted realtor/loan officer – I can give you someone to trust

 

 

dishonesty - trust - trust in mortgages

 

Let's first define trust. - Wikipedia defines trust as : "A trusted party is presumed to seek to fulfill policies, ethical codes, law and their previous promises."

It then goes on to say...."Trust does not need to involve belief in the good character, vices, or morals of the other party. Trust is a statement about what is otherwise unknown -- for example, because it is far away, cannot be verified, or is in the future. 

 

 

 

 

 

I am an expert. I am the best.  I can get you the lowest rate. I can get you the best price for your house. I guarantee.  I promise. Don’t worry. No problem. (insert ‘they’ if the referring person is giving you a name to trust)

 

 

someone that lies and or stretches the truth?

It's a fact and a reality that some people will tell you what you want to hear.  Does this always make them trustworthy?  I will agree, it is very scary out there to find someone that you trust. Who can you trust?  How can you trust?

Many know how to advertise themselves well, allowing you to think that they are the best of the best.  Some people such as a realtor will boast highly about a particular loan officer, telling you how great that person is. My question is, do they know 110%?  I would bet in many cases that they don't know. Does a great rate qualify that loan officer as a good loan officer?  Or just because they can close your deal? No, not always. I have gone up against several loan officers that were labeled as such great loan officers by their realtor because of what I mentioned above, yet when I spoke to that particular borrower, they weren't educated on many of the particulars. 

Here is my thought process. Even if someone gives you a referral name, do your own research. Interview that person just as they would interview you. Please read : Interview you realtor and or loan officer.

 

 

 

someone with heart, with passion

use car sales personSomeone not so honest, who will sell you and tell you what you want?   OR  Someone that is upfront, honest, is very passionate, cares about their client, and who has integrity.

 

 

 

Integrity for mortgages and real estate - trust & honesty

Overall, I have been reading all of the internet, especially on Trulia, answers by realtors and loan officers telling the borrower to find someone that they can trust.  Some make it sound so easy, but is it?  In my opinion, no.

In my opinion, trust is an over-used and misused word, and people need to be aware of such usage. It's human nature to fall into this trap as the professional using such words or even the consumer who listens to someone using these words and or phrases.  I don't think there is a true remedy or solution to this problem. All I can say is do your research and use your git feelings from time to time. If the individual seems to just give you answers that sound great or appealing all of the time, maybe you should ask a few other people. But caution, just because you get 3 of the same answers from 4 people doesn't mean that it could be correct. Please read : Two Wrongs Don't Make A Right. In my opinion, it comes down to integrity, something that many have lost. It becomes that pay check to so many and from where I stand, I can sense this more than ever before. Some loan officers feel that if they can just give you a better than average rate, take an application, and that your loan closes, that they are better than average.  Read up on that person. Read what they write, because passion does shine through what many write. In my opinion, those with excellent knowledge and passion, would be a good fit in many cases.

 

 

Disclaimer : I don't preach that I am the best or that I know it all. I don't claim to know it all. And if I don't know an answer, I will find out first before giving that answer.

 

 

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Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc

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For more information on FHA loans, please go to this link. The FHA Expert

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

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Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 03/06/2010 11:53 PM
  2. Adam R. Cohn 08/26/2010 12:51 PM
Topic:
Lending / Financial
Location:
New Jersey Gloucester County Swedesboro
Groups:
Realtors®
All About Mortgages/Mortgage Networking
Realtors Needing the services of the Lending Powers
1st Time Buyers
POSITIVE ATTITUDE for the Weary Soul
Tags:
trust
fha loans
fha home loans
finding someone that you can trust
trusted loan officers
trusted realtors

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Rainmaker
287,572
Barb Van Stensel
Chicago, IL

Jeff, Great Post!  Trust is something that is earned.  When I hear "I can get you the lowest price." or "Don't worry, we will take care of it", a siding contractor told me "We will make it look nice".  Those phrases scare the weebie geebies out of me.  It is about integrity.  Laying the facts and if one doesn't know the answer, then one reaches out for the answer by someone who fully is experienced in that area instead of an "opinion".  Glad you posted this!

Mar 06, 2010 06:43 AM #1
Rainer
295,458
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Jeff I wrote a post about honesty in advertising a while back that was on the same lines. It is vitally important that people deal with those that are trustworthy. However, getting to those professionals that are both and and know what they are doing, that really can be a difficult task for consumers.

Mar 06, 2010 09:41 AM #2
Rainmaker
4,691,473
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Excellent post Jeff.  It's not easy to find some one to trust.  Also, I might add, not just trust, but some one with the skills and knowledge to get the job done.

Mar 06, 2010 11:52 PM #3
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Jeff - Some people just dont have the Integrity Bug. They are looking out for #1 (themselves). Its important that homebuyers/owners really take the time to know who they are working with. Home financing is a large transaction. Work with someone you trust, which starts from doing your research.

Mar 07, 2010 04:01 PM #4
Ambassador
644,828
Paul McFadden
Paratex - Seattle, WA
Pest Control, Seattle, WA.

Jeff: Good post. Thanks! I was talking to a realtor today who referred her client to me. Actually she referred three and the client interviewed each one. Thankfully she chose me. If the client would listen to what we say and take the time to talk to more than one of us, I believe most transactions would go a lot smoother. The problem is when a customer chooses the first loan officer or realtor they meet; often in the interests of saving time. It's not only a huge burden on the loan officer or realtor but could as we know be a bad decision for the client. I think I might write a blog post on this; something about how imperative it is that a customer take the necessary time to choose the right loan officer or realtor. Thanks again!

Mar 08, 2010 01:39 PM #5
Rainmaker
98,585
Gerry Suarez Jr.
Jet Home Loans NMLS 1660135 - Maitland, FL
FL Mortgage Guru

The consumers two most difficult decisions in ANY real estate transactions are which Realtor and which lender to work with. If you disagree, know that by picking the right Realtor you will be shown the right homes and choosing among them will be a simple matter. Likewise, by picking the right lender your interests will be protected by a knowledgeable expert that is passionate about partnering with you to make your transaction the best it can be. Obviously once a consumer finds those people, trust should come easy, but finding those people is a daunting task.

Great post again Jeff. If I can say one positive thing about the direction our industry is heading it's that trust will play a bigger role with each passing day. Are we all willing to do what we need to in order to earn (and deserve) the trust of others?

Gerry Suarez, Jr.

Your FHA Loan Pro!

Mar 09, 2010 12:14 AM #6
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Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

 

BARB.... .  this has gotten to me more than ever before. I am seeing people write about this all over the internet.  Posting stuff in their profiles such as... "I can be trusted"... "I am a trusted agent"...  and agents on Trulia telling buyers to find a trusted person. Hey, sounds great.... but who gets to define who as "trust"??? lol    Yes, people want to hear what they want to hear.  But those that preach that they are the best, the cheapest, can be trusted... those are the ones that usually scare me the most.  thanks for the kind words...

STEVE.... . Amen... about finding that person that is a true professional, knowledgeable, and trustworthy... that it's hard to find those people.  More people advertise about it though, which to me is like a false sense of security.  Can you send me the link to the post that you wrote?  thanks

GABE.... . yes, there should be a combination of trust and the knowledge with skills.  But so many love to hear "best rate", "cheapest cost", "best price", "highest sale"... etc, etc...   the sad part is that people will still bite on those terms and not seek excellent service. They want the excellent service to go along with these statements... but in most cases, it's very hard to have it all. I hate to say it, but my time is money and my time is not free. It's not expensive, but it won't be the cheapest. And I tell people this.  thanks

 

JOHN.... .  you stated this... " Its important that homebuyers/owners really take the time to know who they are working with."

Yes, that is so important... yet many don't.  Hence why I love blogging. It gives some people the chance to get to know me, my knowledge, and who I am.... I have been told many of times that my passion shines through many of my posts. I picked up a client about 2 weeks ago from reading my blogs for like 2 weeks and felt that not only was I knowledgeable, but that I could be trusted. And they were still fearful, because they found me on the internet and because her sister had a bad experience with a loan officer last summer.  thanks

 

PAUL... .  that's great Paul.  I will be honest though, that I don't like to be shopped much. The main reason is if someone will be wooed by a low rate, I will usually lose. I was referred to a client last summer in Florida from a realtor here on AR.  But she had already referred this person to 2 of her "trusted" loan officers. She told me that she loved them because they have great rates and get loans closed. Hey, that is awesome.  BUT... when I interviewed the buyer, after the other 2 loan officers.... rut row... he was not told how the 5/1 arm worked.. how it changed... He had plans to refinance in 3 to 4 years.. I educated him about the market and loan programs..  and then asked him if he had planned to use FHA when he refinanced again. Because who knows about the conventional loans and how much harder it would be then. Well, he said..."jeff, I am getting a good deal for this house and my goal is to have 20% equity in this property when I refinance."...  I said, great... but if you did a FHA refinance, you will still have monthly mortgage insurance for 5 yers no matter what, even with 20% equity.  He said that he didn't know that.  I asked the right questions, had a good understanding of his thought process, and knew his goals.  The long and short of it, he went with the lender that had beaten me out by 3/8% at the time.  But what was funny was that this was on the 5/1 arm. When it came to comparing the 30 yr fixed, I was about 1/4% better than this guy. This guy worked for Wells... all he did was lower his rate for no profit and played the market. You know what, the market got better for the whole week. My rate came down 1/4% for that 5 yr arm. I called the guy up and of course the lender's rate never came down.  Hhmmmm...   In any case, I know I can't win them all... and that this will happen.  But how can someone put a true cost when getting a mortgage?  Loan officers know this...  and rate in some cases will be out the educating of the borrower.  thanks... PS>.. let me know if you wrote that post.  thanks & thanks for the kind words.

 

GERRY.... .  getting to know you in the last 2 years, we think a lot alike when it comes to servicing our clients.  And it's been great in getting to know other like-minded professionals as yourself that are passionate, knowledgeable, and understand this. You made this statement... "If I can say one positive thing about the direction our industry is heading it's that trust will play a bigger role with each passing day."

I can semi agree with that statement... but the problem in my opinion would be, who does one still trust?  The person that repeatedly states such statements as.."trust me".. "I am honest"... etc,etc.   Hence what I wrote to John above, that is why I love blogging. It gives the consumer a chance to get to know me, instead of just talking to me for the first time and not knowing.  I know we can't win them all... and I understand that.  But losing business to the incompetent loan officer that has no clue?  Yet they sound so nice and can make that borrower feel all warm and fuzzy?  Just irks the crap out of me.. lol  I had a borrower once, that I was trying to get them to use my services... who had been with a loan officer for like 3 months, but he couldn't get the deal closed as of yet. And there was always an excuse. The borrower says... well, he is very nice and is trying really hard. Well, sorry, nice doesn't always cut it in my opinion... and 3 months of excuses?  She finally came to me and we closed it in like 25 days.  thanks for the compliment.

 

Mar 10, 2010 10:34 PM #7
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