Meet your most imporant sales person-the loan underwriter

Your consumers don’t like having their credit examined by someone they don’t know. Producing the past two years worth of financial statements to buy that $150,000 golf course home site is unpleasant for any consumer.

The auto industry doesn’t let a client leave the car lot without credit approval. In real estate, those days are over. And it’s hurting sales.

For many communities, customers must get approval through a bank’s loan committee. Once approved, the bank then will underwrite the real estate product. It can take a few days after purchase to get this approval.

How well do you know your bank’s loan underwriter? Does he congratulate your customer on the purchase or inform them that there’s still a lot of work to do¬† in order to get them approved?

How this person, who is now critical in the sales process, treats your clients, could be costing you millons in vacation real estate sales or making you millions of dollars per year.

Take them to lunch. Train them on your product and how he or she should be talking with your client. It’s critical in today’s economy.

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