Archive for August, 2006
Why race or compete?
Some people run a race to see who is the fastest. I run a race to see who has the most guts.
Look Me In The Eye. You Are Not Really A Loan Officer
I know, you made a lot of money over the last few years. You drive a BMW now. But if you haven’t got a real estate agent to vouch for you, you are not a loan officer. You are a refi salesman.
There is such an important difference that it is very difficult for a loan officer to get the business of a real estate agent? Why should be obvious. Serius fallout can be the result if a loan officer fails.
I remember listening to a John L Scott manager complaining about loan officers. His story went something like: “my typical experience with loan officers that are not really experienced in handling purchase transaction is - I need a prequalfication letter, do they qualify? (L0) sure they qualify. The offer is signed, are you sure they qualify? (LO) Sure they qualify. I speak with the LO a few times before closing and just before closing… oops they dont qualify.”
I have seen terrible fallout from shoddy work. So therefore I say it again: if you haven’t got a real estate agent to vouch for you. Then you are not a loan officer. You are a salesman.
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Special guest on Saturday
He wears a yellow jacket. He will be at the realestateUndressed.com site.
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