February 13th, 2014 5:56 PM by Eric Fang
Everyone knows that I like running. And I completedreading the book hansons marathon method a few times.And one line I remembered clearly: Easy day means easy.
But I made the mistake Wednesday. I have the regularspeed workout on Tuesday evening and Thursday morning,so I will easy ride a bike or have an easy runs Wednesdayso that I can run better Thursday. But I did not do easyruns Wednesday, so my legs did not have a good rest. Andmy training this morning was terrible. See my running blogat http://ericfang.blogspot.com/. So if I want to run betterin the future, I have to follow my plan.
Normally I don't refer my clients to realtors, unless therealtor is indeed a very very good one. Otherwise it willruin my reputaion and negatively affect my business.But recently encountered a realtor who tried to help his friends, but he might have negativ impacts.
The agent is a dual agent. And he tried to refer this businessto his friend, who is also a mortgage broker and at the meantimehe runs an escrow company in southern California. So this agenttried to "help" his friend to get the buiness, and his frienddid not provide the escrow fees for me for 3 days. And theyhad to give up until the borrower said that they would not purchase if they forced him to use the broker the agent referred.
But how his friend thanked him for the business? His origination fee is 2% for any loans(much higher than almost anyone in the industry), so the rate the borrowersget will be at least 0.25% higher than any other brokers,even with the same lender. And the escrow officers not efficient, it took them 3 days to prepare the estimated hud1, and a few days to clear the funding conditions.Because I knew that they are incompetent, I locked the rate for 45 days even though the escrow required for 30days.
Not sure how the realtor execute his business plan?Will he get more business this way? My client said thathe was scared to refer anyone to the agent(He felt likekidnapped during the process for the loan).