How to close more files by yelling louder or short sale processing is like bad-dating!
Creating a world to chase the hot chick or hot guy is the only analogy I teach when it comes to dealing with the bank. In fact it is the only analogy that works. In fact it’s the only real way to close files when dealing with the bank.
You can imagine my shock to learn that there are still guys out on the road teaching shock and awe escalation tactitcs AND that there are still some using these tactics everyday.
Getting black-balled by a bank based on ONE file is dumb. It hurts your business and your clients. Rattling the cage of a CEO or Senior level VP could easily get you labeled and black-balled.
Instead try BAD-DATING!
Think about it, who are the most successful short sale processors?
Female, cynical, Type A personalities, Anal-retentive OCD, former title/escrow/closing agents who are willing to FLIRT!
I said it and I am not taking it back. I say it every day at my seminars and even the most demure women you can imagine have a wry smile. MOST all processors and asset managers are MALE and even female bank people relate better to females.
"OMG I saw your picture on facebook and you are so good looking, you are the smartest bank person I have ever talked too!”
So you, the processor in this relationship, are the one with all the money and you are the desperate guy/girl who is pathetic for validation of boyfriend/girlfriend; you MUST be willing to pucker up and suck up to get a date with the bank!
"Screw the bank Lee! I am going to bend them to my will!”
OK, you can, that’s a lot of energy, I would prefer you escalate only when REALLY necessary.
"I know cell phone numbers and I will call them or drive down there and get what I want!”
I didn’t make that last one up, that’s a real conversation and my only words are WOW, how's that working for you?
It is all the 'path of least resistance’ in my universe.
"You’re the smartest bank I have ever talked too…”
Then comes the approval letter (or the marriage proposal) and its time for the prenuptial agreement!
"You know what my client has all of this money you bank people want and we are going to need a few concessions if we are going to move forward. Otherwise the seller is talking about lawyers and stuff and then none of us can CONSUMATE this relationship.”
Then comes the bank response that is almost standard for every dunce who is caught dating for money.
"You're nothing without me, you'll be broke and your client will be out on the street!”
Now at this point you have options in the escalation, you can talk to the parents of the person you are dating and have them explain that their son/daughter is delusional and you have all the money and they will sign the terms of your agreement OR just break it off!
"Lee, I won't have money, I won't have love and I will have to start over in life!”
Not true and you lack faith, however, if you think and create that environment, that’s exactly what will happen in your future. Because, just like every relationship, there is always a redemption period where someone tries to make it all work.
"Well I don’t normally approve deals like this, but if you don’t tell anyone we will approve your deal this time.”
NOW here is the hard part, you have just attacked the ego of the bank you are dating and they need reassurance and support from you to continue the relationship in the future, much like dating, send them some nice Gerber daisies, not roses they are over done (or food for bank people AND or Pizza and or a thank you card). Think about how you would feel if you got a thank you card or text from someone you date, awesome right? I personally not only thank my dates, I reward them hazard insurance policies to continue dating me.
GIVE to GET!
It's all bad dating to close the deal!
It's certainly not abuse, and escalation, and contacts, that is the smallest fraction of your files. If you still need a phone number or contact at a bank to close it other than one out of ten files, you are an abuser of your banks relationship. If you conduct the process like bad dating you will escalate less and close more!
MORE INFORMATION: www.honish.com
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