Can you believe that is what I tell every single one of my clients, be it a first time home buyer or someone down sizing? Guess what? They are listening!!! Instead of shopping me they are educating themselves by doing extra homework (that I give them) and making sure they are prepared at closing.
I explain to them that I'm a commission only employee, their closing of their home is what feed my children. How do they know that I will look in the best interest of them and not myself....really? After all, I'm not stuck with their debt for 30 years? I have their full attention now, and as the self doubt lingers in their head I give them information to arm themselves to trust their decision in using me.
I have received calls from agents (that don't know me) appalled that I would say this to their buyer...my first response is why shouldn't we say that? Quit sugar coating what we do and take the time to really educate our buyers. I work with a lot of first time home buyers and I would say that 5 out of the 5 buyers that I can get in front of I close. Most come in worried and fearful, instead of trying to dismiss their fear I tell them it's a good thing thing when used appropriately...fear creates a heightened sense of alertness's to the transaction. It's okay to have a little bit of fear....isn't that your gut instinct?
I personally go against the grain in my loan presentations....but it works and finally I have the buyers full attention.
Have any of you changed the way you present mortgages and even yourself in this market? As an agent, how would you take a lender telling your clients this? Just wondering.
Catherine Eusea-National City Mortgage
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Honesty is the best policy. By telling potential consumers how you are paid, and how it affects the effort you put into their loan, you are doing something to set yourself apart from your competition. I would appreciate the honesty, and I think the buyers/sellers I work with will appreciate it.
The look of confusion/amazement from FSBO when I pull out an agency brochure and discuss it with them is amazing. I know I am not the 1st agent to talk to them at that point. Especially when I state it is required by my state's law before we have any meaningful discussions about RE, you can see the wheels turning. Being honest and ethical is a great way to endear yourself to potential customers.
Earn their respect by deserving their respect!