Foreclosures up more than 55 percent in first half of 2007 – NMP Skip to main content

Foreclosures up more than 55 percent in first half of 2007

National Mortgage Professional
Nov 18, 2007

Communicate effectively at all timesMortgagePress.comMortgage customer service tips Communication is everything in the world of business. Without clear channels, the company's profits will suffer dramatically. My professional career has spanned more than 25 years, selling intangible products in the services arena. I have seen companies fail miserably or explode with success, all as a result of the communication efforts within the organization. This article will briefly explore the significance of communications in three main areas: top-down management, employee morale and customer service. Many top executives find communicating to the employees difficult and want to clearly distinguish their presence as owners and leaders of an organization. This style of management can severely curtail the growth of a business. There is too huge of a gap between the employee and supervisors. It is imperative that management confers with the employees in the most diplomatic fashion. Let them be part of the team, be appreciated and feel as though they are providing input into their areas of expertise. For instance, during my selling career, my sales knowledge and creativity have helped to create a spirited competition and enabled other employees to seek and reach new levels. By making the employees feel appreciated, they were eager to perform better. Communicating through memos, phone calls and e-mails provided an effective link. When expectations fall short, or the message is distorted, it is often poor communication by management that leads to crippling or less than desired performance by subordinates. It is imperative to clearly define the goals, needs and desires of the employees, and that management makes sure they are understood in a timely fashion. Employee morale will be boosted if communication links between the sender and messenger have clear paths as well. Too often, the employee does not get the respect that he deserves. The salespeople, for example, are working hard to generate and close business. Advise management to respect the needs and sales cycles of the professionals—it will go a long way in building morale for the team. There will be peaks and valleys for other employees such as managers and other subordinates. People are human and cannot always be on. Employees need to be appreciated, complimented and rewarded whenever possible. Communicating effectively will build strong relationships and set the proper goals for employees. In the mortgage world, during tough times, it is necessary to raise cohesiveness and keep the interest of the employees. Customer service always matters. It is important to communicate to your corporate colleagues, as well as the prospects and clients that you are working with outside your organization. Communicating the needs and wants of the customer will ensure that customers are fully satisfied with the products or services that they expect. In completing a successful loan application, the mortgage executive must gather information, listen to the clients, and then recommend the best product and solution for the applicant. Communication is very important in all areas of business. The loan application is the blueprint for success. Obtaining proper information will make the process flow smoothly. It is crucial to educate and disclose the information up front. Please remember, this is the most important purchase that the buyer is making. Sell the customer the way you want to be sold. Listen to the needs and communicate to the appropriate resources to provide the best service possible. Too often, management fails to listen to the employees. Clearly communicate and set reasonable expectations. E-mail, send memos and talk to your employees. Each sale is an arduous task to make and you hate to lose them. Build morale by respecting all colleagues. Employees are the lifeblood and are on the frontline in the sales force in operating a business. Communication, effectively, will allow you to obtain the maximum return on your investment. A clear communication path will enable top management and customers working together to maximize great customer service. An effective communication cycle will enable top management and employees to work closely to build a greater synergy. This can help to foster better customer service. Your company's profits are riding on it. Communicate effectively at all times! Jeff Barr is a competent toastmaster and speaker in Louisville, Ky., an adjunct professor of Communications at the University of Louisville, consultant and a mortgage loan officer. He may be reached at (502) 777-9555 or e-mail [email protected]
Published
Nov 18, 2007
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