I have a hard time understanding holiday shopping trends. For example, how is it that a product costs less from 7am to 10am than it does later in the day? The product has not changed, so what has impacted the value so suddenly and why do we, as consumers, buy into these games? Do we ever know what anything really costs these days? I’ve read articles extoling the virtues of bargaining and negotiating purchases, not just for cars and real estate but also major department stores and other retail situations. I guess best prices are available to those who haggle the most.
The mortgage business never goes on sale. At the end of the day we do not control interest rates or the costs associated with providing a mortgage. There are too many factors that control those figures; from our service providers, such as appraisers and attorneys, to regulators whose requirements have increased costs to consumers across the board, to the bond and financial markets which influence interest rates and more.
As consumers, we can shop and compare prices. In fact the CFPB’s “Know Before You Owe,” or TRID regulation is designed to educate consumers on how to shop for and how to compare mortgage offerings.
However, no one talks about shopping for service! From the numerous commercials shouting from the TV, to the pile of circulars in the Sunday paper, price is what it’s all about. Yet we are used to hearing the tales of woe and disappointment from friends and associates when a product they purchased does not deliver, or the savings did not make up for the lack of quality.
I love working in a service industry. Service never goes on sale. Service is what makes the difference in the home buying and home financing experience. Service cannot be negotiated; service delivery should be in the heart and culture of every organization that you transact business with.
What good service means can be different for each of us. As an organization or an individual providing service, the experience you provide can vary from your competitors along with how you define your offerings. What is important is to have a clear vision of your service delivery. Everyone in your organization should be able to define it, create it and deliver it to your consumers. They should consistently ask the consumer how their experience was and continue to improve based upon their feedback. On the surface it appears easy, but defining and delivering good service is always a challenge. It is this challenge that keeps so many of us in the mortgage and real estate industries engaged and energized.
“The bitterness of poor quality remains long after the sweetness of low price is forgotten.” Ben Franklin
Service never goes on sale or out of style. The challenge is to continue to define service by insuring that you are always exceeding the expectations of the experience of working with you.
We’re here to help you and your buyers do more, learn more and grow more!