Can you believe that some borrowers don’t know that lenders and real estate agents talk about their transactions? In fact, one borrower who spoke out online was very concerned about the prospect of the two parties speaking. Of course, a slew of real estate professionals answered insisting on the importance of communication in the mortgage process.
When you think about it, communication is the heart of every mortgage transaction and the entire Omaha real estate community. There are so many parties involved in the sale of a home: multiple buyers, sellers, and real estate agents, plus the lender and title company. The ball can easily get dropped and the closing date pushed back without proper communication.
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Here at Mortgage Specialists, we’re strong believers in including all appropriate parties in our email correspondence. Through years of experience working in the Omaha real estate community, we’ve even discovered ways to streamline the process and how to avoid common communication pitfalls.
We’ve found that an automated email system is helpful in keeping our borrowers and real estate agents informed. Each time the loan progresses in the process, the system emails both the borrower and the agent. We can even have it generate different emails for each party, ensuring there are no privacy concerns.
However, we still find it helpful to follow up with a personal email after each email is automatically sent out. Buyers tend to have additional questions because they only obtain so many mortgages in their lifetime.
Common Communication Pitfall
One communication pitfall we have noticed over the years is forgetting to ‘reply all’ in an email. Forgetting to hit ‘reply all’ instead of just ‘reply’ leaves key participants out of the loop. In fact, we just closed a mortgage in February in which we didn’t know the closing date or time until a couple days ahead of time because of this issue.
Luckily, there is a way to ensure you never forget to ‘reply all’ again. In your email settings, there is a section indicating whether your default reply option is ‘reply all’ or ‘reply’. By checking ‘reply all,’ you’ll never leave anyone out again.
There is a fine line, however, when it comes to communication in the Omaha real estate community. Make note of everyone in a particular email chain before replying to ensure no private information is shared with the wrong individuals. Really, it comes down to a balance between effective communication and protecting the privacy of your clients.
These are just a couple of methods we use to ensure our communication is as effective as possible. We encourage all Omaha real estate professionals to find out which communication methods work best for you! While it may take you some time to figure out, it will save you time in the long run, especially as the busy season picks up here in the next couple of months.