Idaho Real Estate >> ID Real Estate Specialist


Building Credibility

Yesterday I wrote a blog titled Loan Approval letter means a done deal right? Wrong!  regarding my frustration over mortgage lenders that are issuing approval letters that don't mean anything.  I have had 3 sales fall in the past 60 days due to this practice.

Today I read that Two out of three adults believe mortgage pitches are either only slightly credible or not credible at all.

The article went on to say that more than one in five adults, 22 percent, are convinced mortgage advertising and marketing is not credible at all and that could be putting the idustry's reputation at stake, according to a recent poll.

The article came out in the Realty Times and can be read by clicking here.  There are several convincing stories and poll results that are mentioned.

My point is not to degrade the mortgage industry.  I know there are good and bad in every profession and this is certainly true in our chosen profession of real estate.

Consumers place their trust in us and believe that we can help them.  This is whey they hire us. When a home inspection, mortgage loan, or something else in the transaction goes sour it reflects on us.  We are the only contact the consumer has with their transaction.

I hope all mortgage professionals, Realtors and other professionals will never forget that the sale or purchase of a home is the biggest investment the typical consumer will ever make. I used to be that a hand shake had value.  I hope we can put value back into written contracts and loan approval letters and start believing we can place trust again in the hands of those we work with.


Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes

Comment balloon 18 commentsGeorge Tallabas • July 26 2007 10:53PM


Great points, George!

If more people in this industry focused more on serving the needs of our clients and less on the outcome (i.e. our check) the integrity factor would grow exponentially.


Posted by John Contabile (Coldwell Banker) over 11 years ago

Thank you John....I hope we can all raise the bar

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 11 years ago
I am in the mortgage industry, and I agree most advertising is not trust worthy.  When you see 1% rate, you have to know you will go neg on that loan.  However the public does not know drives me crazy.
Posted by Beth Bastian, Simi Valley Real Estate (Rosemont Financial Inc) over 11 years ago
Thank you Beth...I don't want to blast anyone, I just hope everyone will realize the heavy responsibility we all have on our shoulders to take care of those that place their trust in us.
Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 11 years ago
I get way too many letter telling me I can get a 1% loan, how many people actually believe this will be there real rate beyond the first month.
Posted by Michael Eisenberg, Bellingham Real Estate Guy (eXp Realty) over 11 years ago


To some extent it is about holding the lender accountable.  I receive letters all the time.  It is that one on one conversation and asking those direct questions that have helped me to date.  They are representing a client and I am doing the same for mine.  If they get frustrated.  I simply explain that I am only doing my job for my client.  We need to raise the bar.

Posted by Ray Nellum, Fort Smith Real Estate (Envision Real Estate Group, LLC.) over 11 years ago

Michael - Thanks for the comment

Ray - Very, very true my friend.  We cannot take the trust the client places in us lightly.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 11 years ago


 Being a title guy, I hate to see a sale fall through. Since all the "subprime" media hype (which I believe is a mere smoke screen) over the past year, "war stories" like yours are too prevalent. Hang in there, better days are coming. Let's hold all real estate pros to a higher scrutiny and accountability.

Fran Gaspari

Posted by Fran Gaspari, "The Title Man" - Title Insurance - PA & NJ (Patriot Land Transfer, Inc.) over 11 years ago
Just another reason why I only use certain lenders.. if they say the loan is good to go then it is or they never get any more business from me..
Posted by Kaye Thomas, e-PRO, Manhattan Beach CA (Real Estate West) over 11 years ago

The problem is that people need to generate leads - these low ball offers generate leads and then reality has to set in.  It's unfortunate but those of us who choose ethical means to generate are leads will win on credibility!

Posted by Kate Bourland, Onlilne Marketing Mobile Marketing (Marketing with Kate) over 11 years ago
I have seen the validity of loan letters in general to be getting worse.  I have received 3 bad ones in a row from lenders and one was even the funding lender.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 11 years ago
I beg and plead with my buyers to use someone I know to get their mortgage.  Someone proven that doesn't pull these shinanigans.
Posted by Chris Griffith, Bonita Springs Listing Agent (Downing-Frye Realty, Bonita Springs, FL) over 11 years ago


The last few deals we have had approvals and commitment letters and then we were lied to at the end. How can they just wait until everyone could be homeless and added expenses to the sellers and the buyers? Can't we work together? I was watching CNN last night and one of the commentators mentioned that getting a loan to buy a home will be getting even harder and that your credit will have to be really good to close.

Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) over 11 years ago

Fran - Thank you and I will hang in there

Kaye - Thank you my friend but I cannot control what lender a co-op Realtor takes their buyer to

Kate - It is very unfortunate my friend

Randy - What are we going to do my friend?

Chris - I do too but I cannot control what lender a co-op Realtor takes their buyer to

Neal - We really have a challenge ahead of us

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 11 years ago
"We are the only contact the consumer has with their transaction." Excellent point. This is why it makes me cringe when my managers tell me stories about agents who don't return their clients' phone calls. One lady had a listing and didn't receive one phone call from the agent for the whole six-month contract. Somebody else even had to come take the sign back when the listing expired. That type of behavior makes us all look bad...
Posted by Joshua Lazaro, serving New Orleans and the Greater New Orleans Area!!! (Prudential Gardner, Realtors) over 11 years ago
Thank you Joshua...have a great weekend.
Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 11 years ago
Hi George,
You are so right, we have a very serious and important responsibility to our clients.  I know that when I cannot convince clients to use proven, creditable lenders that is when we run into trouble.  Thank you.
Posted by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc) over 11 years ago very true.  I hope you have a wonderful week.
Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 11 years ago