No Whining Mr. Lender....

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

As is "usual and customary" in our practice...we give Buyers a selection of Lenders that we trust and offer the programs that we know the Buyer can use...the choice of the Lender is of course up to the Buyer(s).

    Our Buyers interviewed a couple of lenders on our list and chose one bankerand proceeded to get the required paperwork shuffled when their offer was accepted. The Lender "not chosen" called about another Buyer and asked..."Sooo...what is happening with the Jones family ..." I told him they had selected another lender and had an accepted offer.

   Minutes later I received a forwarded email from Mr. Jones...sent by "not chosen" Lender...It whined...I gave you great service, I was available on weekends...I , I , I.....Ooops...Sorry Mr. "Not Chosen " Lender...it is not about you. For whatever reason(s) you were not the lender selected...no one wins all the time.

   Let's put the Shoe on the other foot...the phone on the other ear...the shoe other footemail on the other eye....do YOU want to be quizzed about why a decision was made not to use a particular service provider ? Does that communication make you uncomfortable ? Guessing it does...

   In real estate...agents are not permitted to contact a Seller if the property is listed with another agent...it's not ethical..it isn't "good  professional manners".  We would like to continue to recommend you as a service provider...you provide good service. No whiningBeing available on weekends is not an "exceptional quality"...it is what consumers expect from valued service providers.   For whatever reason, you were not chosen as the provider for this transaction....and whining never works professionally in our opinion.

      Punch your pillow, run around the block...shake off your disappointment...don't call, email, text the person(s)  who chose not to use your service..it happens. Moooove on.

     This has been a professional suggestion post brought to you by Sally K. & David L. Hanson, Broker Associates with EXP Realty LLC, honored to be of assistance for all things real estate in southeastern Wisconsin.

  

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Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Rainmaker
4,870,348
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Sally K. & David L. Hanson (Sally).... all we can do is provide names of trustworthy professionals and the client will make the selection.... no one wins them all!!

Jun 11, 2019 04:05 AM #1
Rainer
501,308
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

You said it all. Ethics!!!

In real estate...agents are not permitted to contact a Seller if the property is listed with another agent...it's not ethical..it isn't "good  professional manners". 

Jun 11, 2019 04:07 AM #2
Rainmaker
2,975,713
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Sally and David... if those clients selected another lender, that not-chosen lender should have called them and asked them what he could have done better to have earned their business.

Jun 11, 2019 04:21 AM #3
Rainmaker
3,188,377
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

That is my point Nina Hollander the Buyers did not welcome that call...and we don't blame them.

Jun 11, 2019 04:34 AM #4
Rainmaker
1,404,170
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Just because our name is given to someone (or in this case, his name was given to someone) doesn't mean that person will use us. There's no guarantee. He should be thankful you gave his name out in the first place.

Jun 11, 2019 04:35 AM #5
Rainmaker
2,975,713
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Sally... this is not all that different if we go to al isting appointment and don't get the business... asking the seller why we weren't chosen. You can always learn something. I've had lenders call me to ask why they weren't selected and with my clients' permission I've provided feedback as usually my clients will tell me why they selected one over another.

Jun 11, 2019 04:45 AM #6
Rainmaker
3,188,377
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

It's not different...It is not appreciated...and we would never do that...and our Buyers don't want it done to them Nina Hollander ...it makes people uncomfortable.

Jun 11, 2019 05:18 AM #7
Rainmaker
2,448,709
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have found that my buyers would prefer that I refer one lender, rather than a few.  I prefer to refer a few, as they all have slightly different programs, but I guess they don't feel up to calling 3 or 4 different lenders.  I do let them know if they call one and don't like what they are hearing, I have a stable of lenders that I trust and can refer them to a different one.

Jun 11, 2019 06:40 AM #8
Rainmaker
3,523,803
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sally and David. That not chosen lender would be right off my list. No nice or smart.

Jun 11, 2019 07:57 AM #9
Rainmaker
1,154,488
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Sally K. & David L. Hanson - I would be so embarrassed and apologetic to my client.  No one should have to go through this. You do everything right and a service provider back doors you. Not good!

Jun 11, 2019 08:26 AM #10
Rainmaker
5,264,663
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing this experience. The loan officers have to be prepared to present themselves as the best option.

Jun 11, 2019 08:28 AM #11
Rainmaker
4,021,888
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sally, sounds like that lender needs to understand there are lots of choices out there.

Jun 11, 2019 12:45 PM #12
Ambassador
3,743,217
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David the whining lender should be grateful that he/she was recommended.  Winning the deal was all on him, and apparently someone else did a better job of connecting with the borrower.

Jun 11, 2019 02:10 PM #13
Ambassador
2,801,840
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Now that's unprofessional behavior. Geez. Stuff happens and it's not about you.

Jun 11, 2019 03:25 PM #14
Ambassador
3,775,913
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Well done, Sally and David- looks like you have space for another lender on your list now!!!!

Jun 11, 2019 05:40 PM #15
Rainer
22,550
Corey Vandenberg
Platinum Home Mortgage - Lafayette, IN

Unfortunately we (lenders and realtors) both work on commissions and loyalty while valued by everyone is rarely given to anyone. That being said, I agree with your taking out the disappointment in some more constructive way... You should know we hear of horrible behavior by realtors and see it played out on social media: friendships ruined, families divided, a lot of bad feelings, even threats! All of this because they were slighted by someone using another realtor, even while asking their assistance and counsel during the transaction.

Jun 12, 2019 05:56 PM #16
Rainmaker
1,217,833
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

As a Lender, I've got to ask how long this LO was in business and how much business do they do?  Why?  Anyone that is busy or has years of experience has had this happen to them multiple times.  It's just part of life and "biz" in our industry.  You don't like not cementing every referral, but ...

If this was so out of the norm, it makes me wonder if something else isn't going on ... or again, just how busy this LO really is?  Still, no matter the reason, it was a poor judgment call on their part.

Gene

 

 

Jun 17, 2019 02:34 PM #17
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
For All Things Wisconsin Real Estate...Call the Hansons
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