Losing clients is never fun…we have all been there!

Mortgage and Lending with ClearPath Mortgage Solutions, Inc. NMLS #1394615 NMLS # 423279

Losing clients is never fun…we have all been there!

This week I had four different experiences of losing a client to a competitor.


One specific example:  I helped Sarah back in November of 2013 get pre-approved for a construction loan.  I began her and husband’s mortgage application for a 5% down, no PMI loan to purchase a new construction home.  The home was going to be completed and ready to close on November 1, 2014.  I had their loan approved by the underwriter, title completed, and the appraisal done.  Last week, she called me after hearing about a local Credit Union offering a 10/1 Adjustable Rate Mortgage at a rate 1.25% less than the fixed conventional loan.  They decided that this was the best option for their family. I shared a few thoughts, but ultimately couldn’t say anything bad about this product or this Credit Union knowing that the average life of a loan is 5-7 years.


This similar example happened a few times over the past week. I have surprisingly been optimistic midst the bad news.  I realize that many times when a client leaves, they were never your client to start with. I am interested in helping the client that sees value in exceptional service and being educated. There is always a better offer out there, but seldom a better Loan Officer to oversee the transaction. Loans Rates Price


I’m learning to recognize who my ideal client is and pursue them and not set myself up for disappointment by pursuing the client that is not truly a client and will leave if a better deal comes.

Posted by

    -Mortgage Consultant for Life


Mike Rankin, NMLS #423279
ClearPath Mortgage Solutions, Inc. NMLS #1394615
950 New Loudon Rd. Suite 231

Latham, NY 12110
Cell:  518-380-4726
Email: mike@clearpathmortgages.com


Mike Rankin does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Randy Mitchelson,APR
Marketing Advisor & Squeeze Mortgage - Bonita Springs, FL
First Impressions are made at First Click

Losing certain clients could be a blessing.  There are some unreasonable people out there who will only cause you unwanted stress and no amount of revenue is worth that.

Sep 20, 2014 10:46 AM #1
Brian & Val Mayer
RE/Max One | Sellers Agent - Huntingtown, MD
Listing Specialist | Realtor in Calvert County MD

That doesnt sound like YOU lost them. It sounds like they found a better deal and decided it was best for their family. It sounds like you did everything right so I wouldnt sweat it. Its when you screw up and they make you pay by leaving that stings the worst...

Sep 20, 2014 11:40 AM #2
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Nowadays, there doesn't seem to be much loyalty. If a buyer finds a better deal, they are going to probably go with it. The problem I see is why are people continuing to look for better deals if they already are working with a loan officer, or for that case, a real estate agent. Like you said, you could research loans forever and continue to find a better deal, but eventually you have to go with something. How good of a loan officer you are really doesn't even come into play.

Sep 20, 2014 03:03 PM #3
Dawn Brenengen
Dawn Brenengen - Trailwood Realty - Raleigh, NC
Sales and Management

It's a bummer, but you can't blame them for taking this deal. If it makes better financial sense for their family, and you can't offer something similar, they have to do what's best for them. I'm sure the next client will be a great one, though!

Sep 20, 2014 03:35 PM #4
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Mike. Lose business is never fun, especially when you offer them the kind of service that you do.It will happen and what is fortunate, it doesn't happen very often.

Nice job sharing your post.

Sep 20, 2014 08:13 PM #5
ba`B Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Certainly losing clients is never fun, but it happen from time to time and one can only do their best. It's like driving around a buyer for weeks and not having something in writing and they go buy from another agent. Great post.

Sep 20, 2014 10:41 PM #6
Laura Sellers
Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com - Auburn, AL

Sounds like you did everything right, but they just found a product that worked better for their family.  It never is fun to lose a customer especially when you have spent a considerable of time with them.

Sep 21, 2014 12:29 AM #7
ReadySetLoan Condo Approval Team
ReadySetLoan Condo Team LLC - South Windsor, CT
The FHA/VA Condo Project Approval Specialists

Hi Mike - you held yourself as a true professional by not badmouthing the Credit Union.  These folks will always remember that you put their interests first and didn't try to "sell" them.  Nice job

Sep 24, 2014 02:28 AM #8
Mike Rankin
ClearPath Mortgage Solutions, Inc. NMLS #1394615 - Albany, NY
Mortgage Consultant

Randy Mitchelson - You are absolutely right. Can't fret everything - might be a blessing in disguise!

Brian & Val Mayer - You're right. At the end of the day, I always want what is best for my clients. 

Troy Erickson - You're 100% correct!

Dawn Brenengen - You got it! If they found something better, I can't blame them, however they'll miss out on the specialize service (most likely )


Sep 24, 2014 07:14 AM #9
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Mike Rankin

Mortgage Consultant
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