Any agents out there frustrated because their clients got caught up in the "Lending Tree, When Banks Compete You Win?" Well, as many of you know, that is a crock. Great marketing slogan though!
"When Banks Compete, You LOSE!" Too many times these internet lenders screw my clients. They get suckered into these fake rates and promises, and they repeatedly drop the ball. Why?
- FAKE RATES! The rates they quote are below cost, so they WIN, just to change the terms when it is too late to turn back.
- NO ACCOUNTABILITY. If they screw you, what the hell do they care? What, YOU won't use them again? Big whoop. You are a number. If 60% close, they are fine with that.
The problem with many consumers is what alternative do they have? They can't trust the Realtor right? All of those damn ABAs Affiliated Business Arrangements (semi-illegal kickbacks).
Well all I can do is vow that I don't have a ABA, and I don't take kickbacks. And now, they have to watch this video...
By the way, I mentioned Lending Tree in this video BEFORE I found out that the client found his lender through... Lending Tree! Coincidence? I think not.
This video will be followed shortly with the ACTUAL pissed off customers anti-testimonial.
I know we can't REQUIRE our lender, but what can we do to make sure they don't walk into a nightmare? Charge them more if a problem comes up. Consider it "overtime?"
Have a client that wants to use some random bank, send them this link.
I just found this too. Kinda dead on!