Happy Sunday Everyone-
I funded a purchase last week for a new client. It was the worst lending experiences I’ve had in a couple of years. Structuring the purchase was a bit complicated and required 2 loans, one of which I had to broker. I had a great client, a great Realtor, I had a listing agent who suggested the offer was being accepted in part because of our reputation, the trifecta was the seller was our client too. It was one of those opportunities to shine. You could make a marketing piece out of it when this was done, instead it was horrible. Why? The brokering bank executed far below our standards. Lack of communication, urgency, attention to detail, care, ownership…you name it. At the end of the day, it’s all my fault and I take responsibility for relying on a group I “thought” I could trust. The purchase closed, the agents were understanding, the client understood our team was doing our best, but it sucked. Erica and I discussed it at length. I wish it wasn’t this way, but we are reminded of why we have the systems, structure, process, training, etc…when things go wrong, more so then when everything is right.
Same day, one of our leaders, Matt Y, sent me a YouTube video I hadn’t seen in a few years. It was Nick Sabin talking about team chemistry. He acknowledged working for Bill Belichick when they were at the Cleveland Browns together. Bill Belichick had one sign, everywhere you went, one sign, it said, “DO YOUR JOB”. When I’m involved in an experience like the one I just had, I’m reminded of what it means to “DO YOUR JOB”. Part of me is glad I had the experience I had. I told Erica when it was over, “I don’t ever want to be this to someone else”. We need to reflect back on bad experiences and ask what caused it, make sure we never do the same to someone else.
I’ll not bore you with every detail as to what when wrong but will give you some big picture reflections:
- Have clarity, be clear. If you’re not being clear in your answers its likely because you don’t understand the problem. Questions are good when a client is learning, but questions that keep coming back around process, is a great indicator that you’re not explaining your process well, OR, you don’t understand your process.
- Proactive vs. Reactive. Proactive communication creates trust. Reactive communication creates concern. If I’m asking you where docs are (reactive for me to need to even ask), and your question back to me is “when are we closing”…Houston, we have a problem.
- Don’t placate- reminds me of Jack Nicholson/Tom Cruise in A Few Good Men, Jack Nicholson saying “You want answers, you want answers”…Tom cruise firing back “I want the truth”. Don’t tell me what I want to hear, tell me what I need to hear. Salespeople have the reputation they do because they don’t tell the truth. Trust is created when you tell the truth, even when it’s not what is wanted to be heard.
- Deal with A Players-I taught a leadership class with by buddy, Jim Reed, he made a comment I’ll never forget “a C player will make an A player quit if you don’t deal with them”. Other ways to spin “a C leader will never have A players work with them for long”, “an A realtor will never work with a C lender for long”. Bottom line is I was working with a C player, and it put my A reputation at risk with other A players. Understand what makes A players, understand what makes C players. Do more of one and none of the other.
- Apologize once and then fix the problem. One apology is necessary, it’s an acknowledgment that you understand there is a problem. Apologize once and fix. Apologizing multiple times without resolution is weak and creates a lack of confidence in someone.
I can’t say I’m glad this experience happened in the way that it did, but me making sure our team is on the right side of the five thoughts above and listing them out is a win for the future.
The YouTube video, which is worth watching: https://youtu.be/_6cCawMndL8?si=qPs0g8ziJ7gqaVwU
Enjoy the rest of your Sunday, and GO NINERS!