Return Your Phone Calls Already!!!

Every once in a while, friends will ask me to do their “mortgage shopping” for them.

A few weeks ago, my friend called me and had made an offer to purchase a home.  The real estate agent gave her the names of six loan officers to call.  She passed the list on to me to interview each one, asking the usual questions.

I left messages for six loan officers.  I explained that I was shopping for a mortgage for a friend who had a signed purchase agreement and was ready to apply for a loan.

Here’s what happened next.

  • Two of them called me back within an hour.
  • One called 5 hours later.
  • One called two days later.
  • Two never called me back.

The two that called back within a short period of time were very helpful, gave suggestions about a couple of mortgage programs that would work, quoted payments and broke down closing costs.

The one who called back 5 hours later told me that she could give me rates but wouldn’t give me closing costs until there was a completed loan application.  When I asked for a rough estimate on both FHA and conventional, she said that it “varies” and her company would not allow her to quote (huh?).

Well, it was too late for the one who called back two days later!

And I’m still waiting to hear from two others.

I help friends shop for a mortgage three or four times a year and every time I do, I always get the same results—only half of the loan officers that I call ever call me back.  The point is that borrowers also are finding this when THEY shop for a loan officer to do business with.

Now, I understand how busy you can get, especially at the end of the month.  I would like to suggest that if you are not able to answer the phone right away, the message on your voicemail should tell the caller when you will return phone calls (like between 10 am to noon and 3 to 5 pm).  You might also provide your email address as part of your voice message.

So, what message have you recorded on your voicemail to make clients feel comfortable and secure that you WILL call them back?