Refinancing Home Mortgage
In: Mortgage Lending
18 Apr 2010I mean, sometimes they seem interested and then you ask them for a down and they say they dont have any. its like you want the house or not? sometimes i just have to tell them straight up as nice as i can, want it or leave it? Sometimes i think i might be a little be too rough….
Yea i agree with you guys. I felt like i was a little bit pushy, but people need to know the facts of what it is going to take if they want to puchase a home!! I think that by being pushy, people get the point and dont waste much of my time as well as theirs!
This is about mortgage information questions.
8 Responses to is it wrong to be a little straight forward with clients when it comes to mortgage lending?
Bonnie M
April 18th, 2010 at 8:37 pm
People need coaching sometimes… This is why you are the professional here. If it irritates you that much to ask for the down, maybe you have made a wrong career choice.
jacknersesian2
April 18th, 2010 at 9:33 pm
No it is not wrong. I did some morgage lending for a while and we would get to the point, and be very straight forward with our clients. This actually worked very well, if you make the believe you know what you are talking about. Remember, act as if.. Act as if you are on top of them in anything. Be confident.
We used to say something like I have been working on your portfolio all morning, do you think I would waste my time if I didnt think I was going to save you money… etc
ADP_14
April 18th, 2010 at 9:52 pm
You have to be straight forward. If you;re not and they catch you out, you will lose a client because they won’t trust you anymore. If they don’t qualify, being straight forward will save you a lot of waster effort working on a file that won’t go anywhere. If they do qualify, there won’t be any surprises later and they will know everything that will be involved with the process.
RockyHigh1
April 18th, 2010 at 9:56 pm
Yes, deceit is always the best business policy. That and outright manipulation.
Michael M
April 18th, 2010 at 10:50 pm
In my opinion the best policy is honesty without obfuscating anything.
Of course, I’m not a salesman.
ananamas
April 18th, 2010 at 11:08 pm
No, I think the whole reason we are in this subprime crisis is that lenders needed to be MORE straightforward with people. Instead we had people who made $25k a year and no cash coming in wanting to buy a $300k house and our answer was “we have this magical special loan program for you”, instead of what they should have said which was “are you freakin’ crazy?!”
So, I think it for the best that you are up front and open with people. Sometimes they need that wake-up call in order to get real.
sunshine
April 18th, 2010 at 11:40 pm
They need your honesty. Presentation is everything! Also in your industry one of the worst things you can do is tell someone what they cannot do. Tell them that, and they’ll find another lender or agent. Simply tell them where they need to be, and what $ they need to have to get what they want.
Sara
April 19th, 2010 at 12:36 am
Think of it this way… when you are straightforward with someone and tell them you can’t afford the house they want, you aren’t just helping *them* — you’re saving your whole *company* a great deal of trouble!
The last thing you want to do is lend money to someone who is doomed to foreclosure and will ultimately screw the company over by leaving them with property they can’t make a profit off of (and ultimately will lose money on).