I've lost $20,000,000,000.00 !

By
Services for Real Estate Pros with Certified Mobile Notary Signing Agent NMLS #268590

That's right, 20 BILLION, with a "B".   That's what Walmart is saying right now.   So, what can we do ?   Is it time to hold a fund raiser for Sam Walton's clan ?   Do we need to hold a special collection at church on Sunday ?   Are all Walmarts going out of business ?

You know; sometimes we have to get the back story before making a knee jerk reaction to an announcement.   Yes, Walmart's stock price has dropped a bit lately but folks; the sky IS NOT falling !

Often a client will hear some otherwise harmless statement or comment in the midst of negotiating and getting their deal done and instantly go into panic mode.   "But I thought that meant . . . . . . . ."

We, the professionals, have to reassure them that we are taking care of all the particulars and calm the waters.   We do this on a day to day basis but our clients do not.   They freak out sometimes.

I try to touch base with my clients often enough to nip these things in the bud but not so often as to bother them.   At the same time, I find myself hearing that, "so and so won't return my calls" or "so and so won't respond to my emails and texts".   As a professional, I help them work through these issues. 

Remembering that they are often making the biggest monetary decision of their life, they will frequently be second guessing themselves if they don't get reassurance that it's OK.

Keep the lines of communication open and flowing just in case your client says;   "I've lost $20,000,000,000.00 !"   Be prepared when something of equivalent panic inducing fear confronts them.

Occasionally, we will have to remind them that it's not as bad as it sounds by answering their concerns.   We can put them at ease by explaining how their team of professionals has everything under control.

 

*****

 

Deanna Early is a Nationally Licensed Mortgage Loan Originator at Smith Mountain Lake, Virginia.   She is the residential loan originator for American National Bank and Trust.   She provides home mortgages, construction loans and lot loans.   She does both purchase and refinance loans.

Her website is  www.DeannaEarly.com

Please contact her for your financing needs at (540) 721-2349 or by email at  "earlyd@amnb.com" 

Comments (18)

Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

Considering their market cap is something in the 260 billions last I checked I think they will survive and the Waltons don't need our donations just yet. I think people have issues when it comes to comparing big numbers, like when the government says they are cutting 2 trillion dollars. Most people say wow, I think to myself thats propbably .0003% of the  budget.

Oct 15, 2015 05:13 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

A minor setback to a big company but the headline scared folks.

Oct 18, 2015 01:11 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Deanna: Amongst all the chaos of a real estate deal, and dealing with emotional clients, we need to be the calm and collected voice of reason. Things are rarely as bad as they appear.

Oct 15, 2015 07:30 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

I agree wholeheartedly with your last sentence.

Oct 16, 2015 04:39 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

That's a lot of money, but here is the thing, they didn't actually sell anything. They lost some equity and based on how much they are still worth, they are just fine.

Oct 15, 2015 09:16 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

But it did send some people into a panic.

Oct 18, 2015 01:10 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Deanna we have to be the calming voice even when we are ready to jump over the cliff ourselves :)

Panic only creates bad decisions!

Oct 15, 2015 10:02 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

Always calm and professional, you're right.

Oct 16, 2015 04:40 AM
Sandra Thomas
Re/Max Achievers - London, OH

This too shall pass.  I wish I had $20 billion to worry about!

Oct 16, 2015 03:28 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

As the old saying goes, "Be careful what you ask for"   Big money can come with big problems.

Oct 16, 2015 04:41 AM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Oh yes, you're right, many times people overreact, esp when it involves their house or money.

Oct 17, 2015 08:06 PM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

House, money or family.   Them's fightin' words if you get someone riled up.

Oct 18, 2015 01:05 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Deanna. Your point is well made here. It is about taking the panic out of theequation.

Oct 17, 2015 10:56 PM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

You are so right.   We, the professionals, need to maintain a steady and calm hand on the wheel as we navigate our client through the transaction.

Oct 18, 2015 01:07 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hey, Deanna!

I included this post in today's "Last Week's Favorites".  Enjoy the rest of your weekend.

Oct 17, 2015 11:16 PM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

What an honor !   Thank you Patricia Kennedy 

Oct 18, 2015 01:03 AM
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I am glad I didnt miss your post, thanks to Patricia!  Happy Sunday!~

Oct 18, 2015 12:08 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

I'm glad too.   Thank you for following me through the rain as I share my umbrella with you.

Oct 18, 2015 01:09 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Deanna Early Good news - we found the money they lost!  We're going to buy more Active Rain points with it! 

Oct 18, 2015 02:37 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

Careful, that much "RAIN" could cause a flash flood.

Oct 20, 2015 03:32 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Seriously, Wal Mart lost 20,000,000,000? Poor things...Clients?  Now them I care about!

Oct 18, 2015 11:09 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

We all care about our clients and need to be available to them in THEIR time of crisis.

Oct 20, 2015 03:33 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Deanna Early consumers are always going to find some excuse - if they don't want to move ahead!

So this story does help! As you said, if Europe is going through financial crisis, how will it impact a home in a cul-de-sac location in a beautiful neighborhood of one of the great school district as per GreatSchools.net rating?

Oct 18, 2015 03:07 PM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

It is up to us to communicate and explain these nuances.

Oct 20, 2015 03:35 AM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Clients can panic quickly especially over repair item requests and low-appraisals! "What does that mean?" "Are we going to lose the house?" We just have to tell them to take a deep breath and walk them through the entire process. 

Oct 19, 2015 02:32 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

"Walk them through" is the solution.

Oct 20, 2015 03:36 AM
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

Hi, Deanna Early . Perception does become reality, whether it factual or not. Regular communication and easy accessibility are key to keeping panic under control. Well said and agreed.
Thank you for sharing,
Bruce

 

Oct 19, 2015 03:20 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

"Factual or not", Amen to that !

Oct 20, 2015 03:37 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

A good reminder that it is important that we remain professional and try to calm the parties.  Too many agents seem to fan the flames.

Oct 19, 2015 01:48 PM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

No fan here.   To easy to get burned.   Being professional is the key.

Oct 20, 2015 03:38 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

Yes, sometimes our clients are stunned or shaken by news that is meant to be informative. Our job is to keep them informed and reassured.

Oct 20, 2015 04:21 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

Reassured, that's how I want my clients to feel.

Oct 20, 2015 05:38 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Deanna

We have to control our emotion no matter what the conditions are.

Good luck and success.

Lou Ludwig

Nov 30, 2015 09:33 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

Excellent point; control our emotions in good times and bad.

Dec 01, 2015 05:08 AM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Clients have the right to panic, however, it is up to us to sound the voice of reasoning and confidence that everything is OK.

Dec 08, 2015 04:56 AM
DEANNA C. SMITH CERTIFIED MOBILE NOTARY

Confidence is crucial to a satisfied client

Dec 08, 2015 07:16 PM