The Lost Art of Conversation
In business, especially in our business, complete and open
communication is crucial to managing the funding process. From the borrower,
to the broker, to the lender, each needs to clearly express the reality of the
The art of conversation, however, seems to be dissipating at an
alarming rate. In today’s business world the sad truth is that the most direct
way to communicate is the least popular. This is apparent simply by walking
into a busy office. I’ve built my career in the world of advertising, I
remember stepping off the elevator on to the creative
floor and being drenched by a wave of activity, loud conversations and
laughter. People were talking to each other, kicking ideas around and having
fun doing it. Today you walk into an office and you can hear a pin drop.
Employees sit right next to each other and send emails instead of simply getting up
and walking a few feet to have a face to face conversation.
Many employees will do anything to avoid making a call,
because we seem to have become a society that has an aversion to verbal
communications. We have fantastic mini computers we carry around everywhere we
go called cell phones, but we rarely speak into them. We prefer to text.
Unfortunately, in business a misinterpreted text or a misperceived attitude can
be detrimental to closing a deal.
In the business of funding commercial real estate loans an
open, continuous dialog helps manage expectations, reduces stress, and speed up
the loan process. Today, there are hundreds of automated systems and apps
that promise to increase your customer inquiries, improve turnaround time, and
lessen your work load. Some of these might work very well, but they still
don’t fully replace the need for an old fashion phone call or face-to-face
As a commercial lender, American Life Financial, the lending
arm of American Savings Life company, requires a phone interview with all
borrowers. This is done to better understand the borrower’s need, intentions,
and goals for their loan. The more we understand the needs and desires of our
borrowers the more we can help them achieve their goals. ALF has been funding
our Not So Hard Money loans for over 65 years, and during that time we’ve
learned a thing or two. The better the communication, the smoother the funding
process. At our company you can count on having a good old fashion
conversation. Give us a call – we love to talk.