Clients First: The Two Word Miracle

We Failed

You want proof? Has all this so far been a nice story and a feel-good premise? Then I will come clean and confess. During the REO boom, we screwed up royally. For all our competence, we messed up big-time. It is our job to protect our bank clients and take care of their property while it is assigned to us. This includes making sure the bank has accurate information upon which to make its decisions. We are to know all, see all, and be all for our clients. Remember, this is a one-strike business. Well, we failed.

We missed a homeowners’ association assessment, and two days prior to closing, an unexpected $3,800 expense was to appear on the proposed closing statement. This was a major strike one. Worse yet, this was our biggest client. Safe to say, losing this bank could mean a major restructuring of our business. To top it all off, the asset manager assigned to the property (and therefore the person to whom we answered) was by reputation the oldest of old-timers with the bank and the toughest on agents. We knew this from other agents who spoke of being cut off for the smallest infraction of the rules.

When JoAnn learned of the error it was 10:00 AM, and instead of just picking up the phone, she froze. What should we do? How could we explain? It was a team member who screwed up, but it was still our fault. She could offer to pay the expense, but even so, the damage was there. Banks have procedures and rules. The crime had been committed, and paying the fine didn’t change ...