Sitting at the airport waiting on a once cancelled and now extremely delayed flight; the frustration among the travelers is palpable. They are pacing, and huffing and speaking angrily into their phones trying to find an alternative. This has been going on for over an hour and will continue until we are comfortably in our seats and racing down the runway for takeoff.
It would be easy to alleviate some of the shared frustration and anxiety, if they would just communicate! I crave an announcement that would say, “We are terribly sorry for this situation, we promise to provide you with active updates every 15 minutes until you are on the plane.” That would be great, much better than the electronic sign which says that we are boarding now.
This is a situation that will last for a matter of hours. Imagine living through this unknown for days or weeks. That can be today’s mortgage and real estate buying process. A complicated process full of unexpected events and requirements, many that come up during the process adding stress and anxiety.
All we can do to make the experience more welcoming is to communicate from the beginning and throughout until the loan has closed and the buyer is soaring. Communicate consistently and at pre-determined intervals; reach out immediately if there are any concerns or new requirements. Deliver the news immediately and communicate even when there is nothing to say but “we are on track and there is no news.” It’s not much, but it is exactly what consumers crave, honest and frank communication about their specific transaction.
We cannot remove the pitfalls and hurdles in the mortgage process. All we can do is keep our borrowers, agents and sellers informed throughout with accurate details as to the timeline for the transaction. In the end, we all want to know what is going on in real time. Whether it is with our delayed flight or our mortgage application, keeping us informed will keep the relationship and the transaction on track and get us to take off with less stress.