The “problem” with most unappreciated professionals is their failure to brag on themselves.
Failure to communicate your process in the beginning to your customer/client is heresy to those who seek excellence.
It doesn’t matter how good and thorough and diligent you are in your work if you fail to enlighten those you serve with all the ways you are out-serving your competition.
When you go above and beyond, quit being so humble and modest . . .
Let’m know that you pulled off a miracle and that most other professionals in your field would likely have let that ball drop.
If you’re one of “The Vital Few” . . . an exceptional performer in your art/work . . . a 20%er and no-one knows this but you . . . you’re selling yourself short.
Not only are you cheating your own potential, but you are also cheating all of those folks out there who would call YOU (instead of your competition) if they only knew . . .
I refer business regularly to a lender who I consider to be in the top 1% of all local lenders.
I was surprised to hear negative feedback from a client who said that they didn’t understand where things were in the process and that when they asked him, his reply was a vague: “Everything is OK!” followed by a comment about “Final Underwriting Review.”
The client freaked out about the vaguery . . . Is everything OK or NOT?
- WHY is there a need for ANOTHER underwriting?
- Didn’t my loan ALREADY go through underwriting?
- 7 days prior to closing, why doesn’t this silly lender (who YOU said was the BEST) know EXACTLY how money I have to bring to closing?
UH-OH!
I wrote my client the below note:
I see . . . Looks like “Ineffective communication” . . . this lender’s team really is better than most . . . but appreciation for this cannot be there if they don’t communicate well.
It is “normal” for a “Final Underwriting review” these days before issuing a “Clear to close” – Lenders have always done this, but the heat is turned up on this to do it (By the actual lender – not the originator) as close to closing date as possible . . . for the purpose of discovering any significant last minute financial changes for the borrower (Things like running up a bunch or credit charges or filing bankruptcy or losing a job etc)
The final figure cannot be determined until the Settlement statement is created by the Title company . . . and the Title company cannot do that until the lender has a clear to close.
All this to say – it is pretty normal not to have a final figure figure until 48 hours prior to the actual closing.
Sad that “My Guy” has not communicated this well because his team does way better than most.
Somewhere in the neighborhood of 25% of closings (with other lenders) are delayed because the lenders don’t get everything done in time. I had one delayed 5 days after the closing date last month because of this idiocy
Amazingly, very few lenders provide “clear to close” early enough for the Title company to create the settlement statement prior to the morning of the closing . . . Most Buyers are learning that number an hour before closing . . . ridiculous, but true.
Crazy times.
I’ll ring the title company to see what they have . . . Often, they can ask the lender for “Closing instructions” prior to final underwriting review (which seldom results in a change of the numbers)
I’ll see you Thursday morning . . . BTW – That was the lowest radon reading I’ve ever seen
Looks like “My Guy” ASSUMED that the client knew his process . . . without calculating that the client had no reason whatsoever to implicitly trust the lender (other than a referral from me) . . . “My Guy” had not provided “Evidence of success” along the way.
Are you communicating your process and bragging on yourself sufficiently that your customers/Clients appreciate your VALUE as a Professional?
Just sayin’
Best,
b