Trust Triumphs

Trust Triumphs

You Either Have It or You Don’t

My role as a real estate professional and agent will be evolving over the coming years. The one thing I treasure, nurture and build more than anything else - more than my social media following, personal network, and group of friends or my team is -- trust. Trust will become the most valuable asset we all will possess, if it isn’t already

Trust is nothing new. Trust is earned over time. Often it takes a long time to earn that trust. Unfortunately, it can take a split second to lose that trust, and getting it back is often impossible, no matter how hard you may try. No matter how hard you may deserve it. Here are my TOP 10 trust-builders:

 

 

1. Honesty. You either are honest or you are not. Honesty is not grey. Tell the truth, always.

 

2. Reliability. Trust is earned by doing as you say you will do. By keeping promises. Sticking to agenda’s and plans. Doing as you say you will do.

 

3. Over-deliver: Under-promising and over-delivering is certain to build more trust than the opposite. Too many agents promise too much, often more than is reality. These fantasies sound wonderful and can seduce even the most skeptical. When those promises fail to come to fruition, irreparable damage may occur.

 

4. Communicate thoroughly. Communicate the good, the bad and the ugly, honestly, based on fact, not assumption. Do so with kindness and empathy. Do so thoroughly and in detail.

 

5. Acknowledge lack of knowledge: Guessing answers is dangerous. If your answer is wrong, you are certain to lose trust. It is OK to not to know everything. It is not OK to not have the resources to be able to figure it out and return with the correct answer.

 

6. Consistency. Consistency breeds trust. It demonstrates reliability. Actions always speak louder than words or promises.

 

7. Respect. Be respectful of other’s and their time. Show courtesy and empathy. Have good manners. Communicate your appreciation boldly and regularly.

 

8. Share credit. Chances are what you have accomplished was not done alone, and its wisest (and honest) to acknowledge and credit those that have helped as a priority. Doing so demonstrates maturity, humility and strength, not weakness.

 

9. Rapid-response-time. In our 365-24-7 instant-gratification world, fast (accurate) responses matter. Even if you don’t have the answer, a rapid acknowledgment of the request is essential to building trust.

 

10. Be genuine: Most humans quickly pick up rather quickly on fake sincerity, enthusiasm or love.

 

As we enter a new era of brokerage, TRUST will matter more than anything. It will define you as a reliable resource – not just for brokerage services – or not. Start working on this today – and every day – it is certain you will be handsomely rewarded.

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15 + 15 =

Written By: Robert Rodriguez

Personally Speaking: I’m a proud dad and hockey player who leads with empathy and gratitude.

Goal: Providing my clients, friends, and colleagues with timely, intelligent and actionable advice.  I am always available to answer your questions regardless of whether you need to buy or sell.  Text, call or email 424-353-9004 | Robert@WestLALiving.com

Professionally Speaking:   Over 100 million in total sales volume, successfully completed over 200 transaction sides throughout the LA area and in a variety of neighborhoods with a wide range of property types.  In my 9 years as a licensed sales agent, I have climbed the ranks of the LA residential sales industry, distinguishing myself both locally and nationally.  I have sold complex Estates, land, income property, single family, luxury leases and condos. Both colleagues and clients widely recognize me as a respected professional whose reliability, dedication, and expertise is second to none.

How To Get the Best Interest Rate and Mortgage When Buying a Home in Los Angeles

How To Get the Best Interest Rate and Mortgage When Buying a Home in Los Angeles

5 Step Guide: How & When to Shop for the best Rate and Terms for a Home Purchase Loan

If you're buying a home in the Los Angeles area and you're not paying cash, you are likely looking to find the best bank, mortgage lender, or broker that will provide excellent service and the lowest interest rate with little to no fees.

Below is a quick 5 step guide on how and when, during the home buying process, to shop for the best home mortgage loan.

 

1) Once you’ve decided to buy, one of the very first steps in the process is talking to a loan officer.  The initial person you speak to can be a mortgage broker, a direct lender, or a loan officer at your local bank.  There are three goals you should aim for when it comes to your initial conversation or consultation with a loan officer.  See A-B below.

 

     A) Find out much money you qualify for and how much money you will need for your down payment and closing costs.  It’s important to discuss example mortgage payments and if there will be any potential hurdles in having the loan approved during the underwriting process.

 

     B) Make sure they run your credit, review all of your financial documents, and provide you with a DU (desktop underwriting approval) or a conditional/pre-approval approval, which usually means all you need to do is find a property that will pass the appraisal inspection and appraise for your purchase price.  **PRO TIP** Do not settle for a pre-qualification, which usually entails only verbal communication and no verification of income documents and credit reports.

 

    C) Verify that the lender you meet or speak to is responsive and will be able to provide you an updated approval letter or adjust your approval letter in it needs a revision when you find a home you want to offer on.  This portion is crucial, especially if there are competing buyers on the house.

 

2) Make sure you do not leave any of your income documents with the loan officer.  If they need copies, be sure you email them over, or they scan a copy at your meeting.  Create a dropbox, desktop, or google drive folder of all of your income documentation, so it’s ready to be provided to other lenders when you do begin to shop around for a mortgage after you’ve found the property you want to buy.

 

3) Be sure to have the lender provide you a written copy of your FICO score.  You will need this later when you shop.

 

4) Find a house.  While you are searching for homes, I suggest you casually call around and see what kind of rates and fees other lenders are offering, but they aren’t relevant until you find your property.  Interest rates and program incentives change daily.  What you are quoted today could be lower or higher in the 30, 60 or 90 days it’s taken you to find your home.

 

 

**PRO TIP** Make sure no other lending institutions run your credit, until after you’ve found your ideal property, and your offer is accepted.  Having your credit ran too many times could lower your score. There is no point in having your credit ran unless you know you’re in contract and have the real ability to purchase a property.  If lenders want to run your credit before your offer is accepted, I suggest providing a copy of the FICO scores the initial loan officer provided you in step 3 above.

 

5) The day your offer is accepted or the day after acceptance is the best time to shop for a loan.  Some lenders may not provide a written quote until they run your credit.  This is ok if they’ve verbally given you great terms and a low-interest rate and maybe someone you are likely going to commit with.  My suggestion is to call 3 or 4 different lenders, for example, a large bank, mortgage broker, a direct lender, and credit union if you have a relationship.

 

**PRO TIP** Time is of the essence.  All California purchase contracts have a loan and appraisal contingency expiration date, which means you need to pick a bank immediately, which is why it’s not a bad idea to start calling around to test the water while you’re looking for homes.  If you are genuinely in the market to shop, then I suggest taking a half day or full day from work to get this accomplished as it will save you thousands in both the short run and long run.

 

**PRO TIP** Do you have more than 100k in retirement funds that you may be willing to transfer from financial institution to another?  For example, if you have $500,000 in a Morgan Stanley managed retirement account but are willing to move the funds to JP Morgan Chase, then the bank may be willing to offer you an interest rate discount on your mortgage anywhere from 1% point or more to earn your business.  I’ve seen this several times and it may make sense, but always consult with your accountant and financial advisor before making any big moves.

 

Also, leverage your real estate agent.  If they are active in the market, they will be a tremendous resource.

 

Why go through all of this trouble?  Simple.  Once your offer is accepted, in the eyes of a lending institution, you are business that is extremely likely to happen for them if they can earn it, which means they are more likely to sweeten the pot or lower their interest rate and fees.

 

 

**PRO TIP** Ask if they can offer a credit for closing costs, provide a no-fee loan, and at what rate?

 

Need more helpful and useful advice like this?  Just reach out, we are here to serve.  Robert@westlaliving.com or 424-353-9004

Get In Touch

5 + 4 =

Written By: Robert Rodriguez

Personally Speaking: I’m a proud dad and hockey player who leads with empathy and gratitude.

Goal: Providing my clients, friends, and colleagues with timely, intelligent and actionable advice.  I am always available to answer your questions regardless of whether you need to buy or sell.  Text, call or email 424-353-9004 | Robert@WestLALiving.com

Professionally Speaking:   Over 100 million in total sales volume, successfully completed over 200 transaction sides throughout the LA area and in a variety of neighborhoods with a wide range of property types.  In my 9 years as a licensed sales agent, I have climbed the ranks of the LA residential sales industry, distinguishing myself both locally and nationally.  I have sold complex Estates, land, income property, single family, luxury leases and condos. Both colleagues and clients widely recognize me as a respected professional whose reliability, dedication, and expertise is second to none.