Is GREAT service still enough to grow your business???

By
Real Estate Mortgage Broker with Fairway Independent Mortgage

I have been in the mortgage business for over 8 years.  When I started it seemed that if you answered your phone and closed deals smoothly... the sky was the limit!  These days things have changed and I am not sure if it is for the better.

It seems to me that great service just isn't enough anymore.  Now, that is not to say that great service isn't important because it is.  If you don't have good service you aren't even in the game.  Great service can still give you a solid foundation, but it doesn't seem to actually grow your business as much as it used to.

As the market evolves it is becoming more important to market yourself well.  Five years ago if you had some innovative system/program and added value to a Realtor (books, training, etc.) you were the man!  Now the bar seems to have been raised a little higher.  Now it seems to be moving to a market that rewards people who can produce and share leads.  I am not saying that is all bad but it is definitely different.

With more and more Realtors asking for referrals back to them and/or money for co-marketing agreements, it has changed the basic dynamic of what makes a loan officer successful.  My question is what has actually become of service?  What is typical in our market? 

Do most lenders get closing packages out early?  Do most lenders attend their closings?  What has become the norm?

Olan Carder

Charlotte NC Mortgages

www.mycharlottelender.com

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Rainmaker
88,543
Frank Harris
Keller Williams Realty Centre
I am located in Maryland and the Lenders I use, attend at least 90% of their closings.
May 16, 2007 06:16 PM
Rainmaker
110,339
Lewis Poretz
- Mortgage Branch Opportunities - Nationwide
Meadowbrook Financial Mortgage Bankers

Olan - Fantastic blog!  Welcome to AR

 

Lewis Poretz 

May 16, 2007 10:38 PM
Rainer
30,491
Olan Carder
Fairway Independent Mortgage

Frank,

Thanks for your comments.  Most lenders in our market do not attend their closings.  I find it remarkable that most in your neck of the woods do.  That is impressive.

Lewis,

Thanks and I am glad to be here.  I am inviting new people all the time!

May 17, 2007 01:37 PM
Ambassador
1,664,200
Dale Baker
New Hampshire Relocation and Views Info Blog
Baker Energy Audits and Commercial Properties Inspections

Howdy Olan

Thank you, for this very good blog post you have done here.

June 22, 2007 05:37 PM
Rainmaker
26,442
Scott Dovala
Santa Rosa Mortgage and Home Loans
Ascent Home Loans

Olan,

After readinfg all the posts above and your comments my input is this. You seem to have a system that every Realtor would love.  You provide continual updates, inform the client's, go to closings,etc...

The most important thing you or any of us who provide great service to our realtors and borrowers is that there will be lenders who will pay for co-advertising, and spend more time getting the realtors leads then getting their own, but in the end will these lenders provide the service you do? When all is said and done,  these realtors will realize that co-advertising with a lender whose service is mediocore will end up costing them further referrels. Even though sometimes it feels as if our services are being bid on as if we are on Ebay, there are those realtors who realize a good thing when they have it. Those are the ones to concentrate on, because they will be the ones to refer you back to the " You bring me leads and you'll get my business."

June 23, 2007 12:35 PM
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Rainer
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Olan Carder

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