Last week I put out a challenge to all of the readers. There were so many responses. But one gentleman had developed and articulated a plan that won the $100 award.
His name is Shawn Van Gordon and this is his system:
I have the simplest system that anyone could do and surprisingly, many do not-but I do, and Realtors / builders/borrowers', etc., love it and know that they are being kept in the loop at all times (which is all that they want)! Simple stuff.
EXAMPLE FOR A PURCHASE TRANSACTION:
1. Upon receipt of the P&S agreement, I call the agents and introduce myself and ask for their e-mail address so that I can 'keep them in the loop' in regards to the loan process. They always say yes. Added bonus, I can get that agent's information in my database for future marketing.
2. I send a letter of introduction to the real estate agents / builder, etc. with my business card.
3. As soon as I submit the loan file, I e-mail the agents (or the parties involved) letting them know what I've done, what the approximate turn times are for things and most importantly, explain the earliest date that I can order the appraisal (per MDIA). This eliminates the future questions of "Why are you waiting so long to order the appraisal" because now, everyone knows what the MDIA is and how it impacts the timelines.
4. Every time something relevant occurs, I e-mail the parties involved (not all the time, just the important stuff). For example, "Title received today," or "Appraisal ordered today," or "Appraisal received today," or "FINAL APPROVAL received today, I anticipate being able to order docs in five business days."
The e-mails become extremely valuable when we are close to closing and/or signing and/or funding. What I have found is that I'll have a Realtor call me after the loan closes and tell me how great it was that they always knew what was going on, never had to wonder / worry and want to talk about doing business with me in the future (and I never once asked for their business).
Lastly, when a problem or snafu comes up (which they always do), communicate that to everyone. You don't have to give away someone's personal information (privacy laws) or make anyone look bad-but if there is a problem or glitch, you have to address it immediately and tell people what your solution will be. Everyone involved will respect you a lot more if you are open, honest and accessible than if you only call with good news.
COMMUNICATION, COMMUNICATION, COMMUNICATION.
It's that easy. If someone doesn't have e-mail, you'll have to call them but e-mail is the time saver of all (plus, it gives you a written copy of what was said, to whom and when it was said).
Good luck,
Shawn Van Gordon
Have a great weekend.
Joel Pate is an entrepreneur and founder of multiple successful companies in the mortgage, real estate, and marketing space. For more information on Joel, contact him at
