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. 
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.
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