I wanted to post this yesterday but didn’t want it to be categorized an April Fools post.
Why? Because I’m serious.
Has “Transparency” become just another marketing buzzword much like the “Green” movement?
I’m Green as they come.
I recycle everything, fluoresce everything, and run almost paperless.
I ride a bike that averages around 40 MPG. I choose to work close to home.
Oh, and I have a compost pile in the garden.
I’m “Transparent” too.
Each and every client that comes into my office hears the same speech. This is what I do, and this is how I get paid. Yes, we even cover YSP. I’m all for honesty, it’s just how I have to operate. Always have.
But “Transparency” isn’t a two way street.
My “Transparency” has nothing to do with the “Transparency” of the client across the desk.
My “Transparency” doesn’t change the “Transparency” of the loan officer down the street or at the big bank.
In fact, I think my “Transparency” really helps one person in this world, me!
That client isn’t going to return the “Transparent” favor and let me know he shopping the internet for rates is he?
The Loan Officer next door that’s competing for the same loan has never been “Transparent” in his life. Is he going to start now?
True “Transparency” doesn’t exist.
I watched a great discussion on YSP the other day thanks to Todd’s post on YSP. You could argue that Todd was coming from a “Transparent” point of view. Not to pick on anyone who commented but so many of them were less than “Transparent”.
When I started a new company, I put our pricing right out there for everyone to see. I wanted to be “Transparent”. Almost none of our competitors are.
What I didn’t put out there was how we do what we do.
Our little business secrets that makes us stand out from our competition.
In this way I am about as “Transparent” as a mud filled coke bottle.
There’s a little conversation over at agentgenius that grabbed a lively conversation. Was it “Transparent”?
Facebook, MySpace, LinkedIn and even Twitter.
Is the reason you’re on a particular Social Network “Transparent”? Really?
For that matter, is this post “Transparent”? It’s not.
As my friend, Kermit laments that it’s not easy being green, I’ll go on record saying that it’s not easy being “Transparent”.
Maybe I’ll just settle for semi-opaque.
Mortgage Industry Professionals. Like what you see?
SUBSCRIBE for free by RSS or email, and never miss a post!
{ 2 comments… read them below or add one }
Good post. I think transparency in how we price things isn’t necessary, as good communication is.
I talk a LOT about transparency, and I do it for selfish reasons: mostly to be held accountable for my actions by claiming to be a certain way. For me, it’s a control . If i say I’m a certain way, being transaprent helps me to stay that way.
I agree. No one in any business is completely transparent; it takes food off your table and gives it to a probably less-deserving competitor. I don’t know how much the store I buy my tennis balls pays for them; it’s none of my business and if I don’t like the product / service I have the option of shopping elsewhere. That’s the only right I should expect to have as a buyer (assuming that the retailer isn’t allowed to commit fraud and other illegal behavior of course).
And clients lie all the time — how many times do you get one who claims to be “totally committed” to you and the loan, begs you to lock, then keeps shopping and if the rates happen to drop expects you to eat your entire commission or lose the deal (yes I let those jerks walk). Or what about those real estate agents posing as “advocates” who tell their (your) clients to keep shopping for their loan while they’re in escrow, taking your GFE all over town so the competition can bait and switch or lowball your offer? How would they like it if the LO told the buyer to renegotiate the commission or find a better agent?
It’s hard to be a good guy / gal in this business — but being a good guy is the only way to STAY in this business for long…
Leave a Comment