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How to ensure a smooth transaction

We have all experienced the smooth as butter real estate transaction. We have also experienced the nightmare transaction. While it would appear to be common sense that no one would prefer the latter, quite often the simple steps needed to ensure this smooth transaction are either left to chance or are even ignored.

The purchase of a home or a refinance for investment purposes are hugely important transactions for the borrower. While you may execute dozens if not hundreds of these deals in a year, chances are your borrower has not. It is easy to overlook how scary some of this process can be. Making sure lines of communication are always open is the first step needed. We have all seen loans fall apart because of a simple misunderstanding. That simple misunderstanding, lost loan and unhappy client equates to referrals you will never see. Being incorrect about an interest rate or missing a fee can be devastating and impossible to overcome.

Another key element is understanding that mistakes do happen. The business world is made up of people, not machines. While it is imperative that mistakes be kept to a minimum it is unreasonable to expect that they will never occur. They do and they will. It is how these mistakes are handled that will keep the customer satisfied. Owning up and accepting responsibility, even though the error may not have entirely been your fault, is the easiest and best way to diffuse a volatile situation. OK, so how do we fix the problem? Again…keeping the lines of communication open is imperative.

If everyone involved does their job, pays attention to details, communicates effectively and is honest about what they are trying to accomplish, the customer will be satisfied. That satisfied customer will keep coming back for more and in the lean times will ensure a steady stream of clients.

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