Recently, I learned a very important lesson…

A few months ago a client asked me a series of questions.  Each question he asked I answered with a “No” response.  After answering all his questions he turned to me and irritatedly asked, “How difficult would it be for you to answer me by not saying ‘No’ and instead indicate that your experience has been ‘NO’ but I will touch base with __________ (whomever) and get back with you as soon as possible.”  I thought about this and decided that the “NO” responses I had been giving were a “turn-off.”  I then realized that my negative responses were not limited to him, but to other clients as well.  How many other people was I turning off by simply saying this short two letter word?  It began to bother me; so I decided that I would take action and approach my next “NO” response as an opportunity in lieu of creating an unnecessary road block.

It only took a few days until my phone rang with my new “anti-no” opportunity.  The person on the other end of the line was referred to me by a client and started the conversation by saying she has good news and bad news.  I said, “Ok, give me the good news first.”  At that point, she informed me she was pregnant.  While I was excited to hear about her good news, I remained cautiously optimistic about the bad news. Thinking the worst, I then asked her the bad news.  This is when she told me that she lives in a 3 bedroom house with her husband, mother-in-law and 2 kids.  While the living arrangements were manageable with the 4 occupants in the 1100 square foot home, adding a baby to the mix just didn’t seem like it would work out all that well.  She did indicate that she was not making as much money as she had in the past, but, she could afford her mortgage payment.  She asked whether she could apply for a short sale because she owed more money on her home than its current value and because she was “outgrowing” her home.  I asked whether her  mortgage was current and she informed me that it was.

Wow!  This was a new request.  My initial reaction was to say, “Are you kidding; why would a bank agree to a short sale on this type of scenario?” The opportunity, however, was to tell her that my past experiences were that a lender would require a “true” financial hardship and that I would touch base with the bank to see whether they’d consider this situation a hardship.  We agreed that I would call the lender to inquire.

When I picked up the phone to call the lender (one of the largest in the United States), I was surprised to hear that they would absolutely consider the hardship as valid and would consider the short sale.  Excited, I called the client, gave her the good news, gathered her financial documents and facilitated the short sale request with the lender in just under 5 weeks.

The bottom line impact of not saying “NO” earned me a healthy title insurance premium and a well earned closing fee (we put approximately 15 hours into the facilitation).  If I had declined the transaction initially, I would have merely been throwing money off to one of my competitors.  Instead, I have created an opportunity for not only Home Guardian Title, Inc. but have saved another deal from imminent foreclosure.

Needless to say, the Profit of YES certainly trumps the Power of NO any day of the week.

If you’d like a Short Sale expert to package and handle all the paperwork and communications with the lender in an attempt to facilitate a short sale on your behalf, at no out of pocket expense to you, contact Rick Schuster at   561-893-0077   or rick@homeguardiantitle.com

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