by Chas Bonner
FOLLOW-UP, FOLLOW-UP, FOLLOW-UP
The importance of follow-up cannot be overdone.
This thought was recently highlighted by an excellent example in the mortgage business. One day, when researching a company on the web, there was a flashing advertisement entitled “Check your credit rating.” Always wondering what my credit rating was, I clicked the box. A second flashing ad appeared to “Refinance your home for play money.” Again, the box was clicked.
Within a matter of minutes, there were at least 10 mortgage companies loving me. The first thought was “Oh no, what has just been started?” But one of the brokers in Draper, Utah was the least pushy, and seemed to have the most substance. We signed up for the ordeal.
After producing enough documents to sink the Titanic, we were on the road to a successful refinancing of our home at a 2.5% lower rate than paid today.
What was most instructive however was the follow-up of that mortgage broker. Twice per week we received a “Status Gram” which not only outlined the details of the loan, the amounts, rates, due dates, appraisals, etc., but also key to the borrower, a list of actions yet to be done, by whom, when, and how recorded. And each Status Gram would illustrate a check off of “done” tasks. In short, the mortgage broker’s focus on follow-up made an otherwise painful and time-consuming process more palatable and obviously more successful.
Within Scythe & Spade, we have discussed those Status Grams, and wondered where we stand with respect to FOLLOW-UP. We believe that with all the technology we possess which forces follow-up, and with the internal emphasis on follow-up, we have a good record. However, nothing beats comments from our clients, so anything we hear from you will be appreciated and cause re-dedication to these efforts. Please let us know, good, bad, or ugly.
Comments