Written By: Tammy Butler, Editor, MortgageCurrentcy.com
Some borrowers like to negotiate with you! If you don’t negotiate back, they do business with someone else. That is just the bottom line. So why does your company make it so hard to get a pricing exception and why can’t they just go back to the “good ole’ days” when the loan originator could make that decision?
Now I will admit that there is generally a difference in the negotiation skills of a 20+-year veteran originator and a novice. Chances are good that if you have a solid referral business, you don’t negotiate too much. Yet the newbies have to learn these skills, and until that happens they likely have to negotiate more.
Okay, but why is this such a big deal to your company? Doesn’t it feel like they are always asking you for “proof” that your competition has a better deal in order to meet the price/rate requested of the borrower?
Read the 5 Best Practices when dealing with pricing exceptions.
Written By: Tammy Butler