Why assume the worst?

By
Services for Real Estate Pros with Marte Cliff Copywriting

Have you noticed?

Advice for first time buyers often includes a warning to start early and credit stuart m"repair your credit."

I see it in articles, and yesterday I saw it in a series of letters offered with a CRM system.

Isn't asuming that they have poor credit a good way to alienate potential clients? It sure feels that way to me.

Yes, everyone should read his or her credit report well in advance of making a loan application.

But it's not because they probably have poor credit. It's because credit reports have errors. I once read that even Fair Issac admits that about 70% of all credit reports have some kind of error.

They can range from a wrong middle initial all the way up to inclusion of an account that isn't yours. Humans make data entry errors, so an account belonging to someone whose social security number is one digit away from yours could land on your credit report. 

Some of those errors can affect your credit while others are just annoyances. They all should be corrected, and the credit bureaus will give you instructions on how to do that.

Instead of assuming that your first time buyers (or any buyers) have poor credit, take the friendly, gentle approach.

Let them know that they need to check their credit report for accuracy - because mistakes are more than possible.

From there, you can remind them that the higher their scores, the better interest rates they'll get, so they'd be wise to check to see if there are things they can do to make their scores the best that they can be. There are several small ways to increase scores.

You will of course be happy to recommend a lender who will give them sound advice.

My opinion: It's better to assume the positive about people instead of the negative. Especially when you're talking/writing to them.

 

Graphic courtesy of staurt miles @ freedifitalphotos.net

 

Comments (36)

Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Chris Ann Cleland She sure knew how to drive away her business! Poor woman.

Michael J. Perry Yes, but without any pre-conceived notions!

Shannon Jones Exactly.

 

 

Nov 03, 2020 08:47 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Good information John Juarez - thanks for sharing.

Nov 03, 2020 08:48 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Congratulations on your feature recognition.

This is good advice to share.

Take care and be safe.

Nov 04, 2020 04:15 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Great post! Thanks for making this content!

Nov 04, 2020 05:23 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

We should assume the good with everyone we are speaking with/marketing to.. Otherwise we WILL alienate them!

Nov 04, 2020 05:32 AM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

Very true...I also assume the worst on transactions details prepping clients and giving them the lowest expectation usually only to blow it out of the water.

Nov 04, 2020 06:27 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Thanks Roy Kelley - the same to you. I wish you a beautiful day.

Joe Jackson - and thank YOU for reading it.

Kat Palmiotti I agree with you.

Nov 04, 2020 07:22 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Erik Hiss So - you like to deliver more than you promise.

Nov 04, 2020 07:23 AM
Deb McGuire CNE, ABR, SRS
Keller Williams Capital Partners - Columbus, OH

Good advice!! Always best to assume the best.

Nov 04, 2020 08:33 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Interesting that they assume the worst, maybe their whole approach is that way. Things go far easier when you assume the best, but check and verify as you move along.

Nov 04, 2020 10:30 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Thanks Deb McGuire CNE, ABR, SRS - I think so!

Nick Vandekar, 610-203-4543 Yes, some people are just that way. What startled me was seeing that advice in articles and letters sold with CRM systems. I agree that after you've assumed the best, it's a good idea to check and verify!

 

Nov 04, 2020 10:50 AM
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

You are absolutely correct, Marte Cliff ... I can't tell you how many times plans had to be delayed as errors are corrected ... or how many times stress levels went through the roof because of this issue.  Thank you thank you for sharing this reminder with your readers ...

Gene

Nov 05, 2020 11:18 AM
Gwen Fowler-864-638-3599 SC * Mountain* Lake*Home
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

I tell everyone I know to use credit karma to stay on top of their credit, it can be hard to build up so its good to keep an eye on it especially if you plan on making a big purchase anytime soon

Nov 05, 2020 11:21 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Thanks Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi - People need to remember that computer data is only as good as the data entry person who typed it in. Mistakes can happen on either end, and they do! I can see why - if I had to sit and enter data all day, I'm sure I'd make plenty of errors.

Nov 05, 2020 11:48 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Gwen Fowler-864-916-2019 SC Mountains Lakes Homes You're offering sound advice. Catch those mistakes before they interfere with your life!

Nov 05, 2020 11:49 AM
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Good advice but I'd hate to actually find out the ratio on good to bad. I've learned the ones that boast the most have the lowest scores.

Nov 05, 2020 12:32 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Lyn Sims You just reminded me of a time way back when I was an agent. All of us in town got together and rented the CE tapes. We watched them together at different agent's homes.

One of the brokers came to watch the first video, then declared that he wasn't going to bother with the rest because he already knew all of that stuff.

Guess who was the only one to flunk the test?

Nov 05, 2020 02:34 PM
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Great advice for any buyer, on an always touchy subject! It is especially important now with homes flying of the market

Nov 07, 2020 07:28 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Tom Bailey It should be less touchy to warn them to check for errors than to say you doubt their credit rating.

 

Nov 07, 2020 12:05 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I learned the hard way many years ago about being diplomatic regarding discussions of credit/lending.  You don't want  to appear judgemental !

There is a way to talk about these issues--or other examples, like house price is too high or you are being too picky in this market, etc.

Nov 09, 2020 07:19 AM