Education is a Good Thing

In my opinion, too many loan officers are threatened when their clients start asking questions, particularly if they are asking the questions of other loan officers.  I love it when they ask me questions.  It not only shows their desire to learn and make educated decisions, it allows me to coach them and use my 25 years of experience to advise them well.  And when they are asking questions of multiple lenders, it simply validates what I’m advising them (they either get wise counsel and realize I’ve advised them well or they get crazy answers and realize how important it is to be working with someone who is on top of his game).

But here is the catch – it isn’t easy!  Staying on top of all the changes (pricing, products, compliance, underwriting changes, etc…) is hard work.  Being the best means giving more effort than the person beside you.   It means reading up on things like sales techniques, communication, market data, and all sorts of personal growth ideas.  How about you?  Are you willing to go the extra mile to make sure that you encourage questions?  Whether you are a doctor, financial planner, lawyer or a Realtor, clients who are asking questions should be an inspiration, not a threat.  When you are prepared, questions give you the opportunity to shine!

I sat in on a buyer consultation last week with a Realtor buddy of mine and I loved what he told his client.  He said, “My job is not to sell you a home.  My job is to educate you and empower you to make a great decision.”  I left that meeting not only impressed by his words, but challenged to continue treating my job as that of an educator and master of my trade.  It was kind of ironic because right after that meeting, I got the monthly update from the GNAR.  In it contained the link below from our friends at the CFPB.  They have finally done something that I really like.  This little brochure is something that is phenomenal to provide your clients.  It is a great tool that can help your client understand the lending process better and make educated decisions.  And that is what we should be about, educating our clients so that they can make great decisions!

http://files.consumerfinance.gov/f/201503_cfpb_your-home-loan-toolkit-web.pdf