Posted by Lawrence Goodwin on 1/31/06 8:20am
Msg #92536

BEWARE... SS's wanting references!

What I thought was a reputable SS asked for references for my previous experiences in RE and ML. No problem, so I thought. I got a call yesterday from a local lender that I have done business with on and off for over 10 years alerting me that this SS was soliciting them for business. They would undercut my fee by $25 if this lender would use them instead. I told Leon that I would knock off the $25 if thats what he wanted, he said "No, I just wanted to alert you to whats going on". Watch those references guy's and gals'. Now I need to write a no solicit contract to go with all reference requests. This bull had some ****

Reply by TCMN on 1/31/06 8:36am
Msg #92539


Lawrence - did you find out the persons name who called Leon? Do you plan on confronting the SS? Reputable SS & perhaps good relationship you had with them or not, I would ask for an explaination and then "fire" them.
I'm sorry if someone thinks that's giving business away, but I don't play that way. Morals and Ethics are not something I put a pricetag on. They are not judged based on a level system (i.e. just an inch over the line is X dollars extra, a foot over is XX dollars extra, etc) and "dirty" money isn't what I want to use to take my kids to the movies with.

jmho

Reply by Beth/MD on 1/31/06 8:43am
Msg #92546

This is why I don't give "references" to companies. It has taken a long time to get the client list I have and I'm not willing to let some no-ethics/morals having company put that into jeopardy.

Reply by LawrenceOK on 1/31/06 8:47am
Msg #92553

Yes, I know who it was and I will confront them this morning. I have no intention of ever signing for this company again but I doubt it will hurt them much. It's the princapal and now I guess I know how Sherry of SLB felt.

Reply by SLB SIGNING SERVICES, INC. - Sherry on 1/31/06 9:07am
Msg #92563

Sorry you had to experience that Lawrence.....

The lack of integrity in this industry just amazes me. Just think, I am basically giving the closers that I contract with direct access to my clients every day and hoping and trusting that they dont pull a fast one...Its very aggravating when you have to start thinking about all the what ifs to protect yourself and your livelyhood. I can totally sympathize with you Lawrence....

Carolyn...you have an absolutely terrific idea in giving us only SS references. This would totally eliminate the problem!

Reply by LawrenceOK on 1/31/06 10:20am
Msg #92581

Re: Sorry you had to experience that Lawrence.....

Your right, it sucks! and I have changed my point of view now that I know how it feels. No longer will I supply references without a non solicit agreement.

Reply by Paul_IL on 1/31/06 2:46pm
Msg #92694

Re: Sorry you had to experience that Lawrence.....

Lawrence,
Devil's Advocate says your non-solicitation agreement would hold not weight as there is no way to prove that your supplying references were the way that the SS learned of the clients existance.

Better policy is SS's get other SS names as references and TC's get TC's as references.

Use those cheap SS's that no longer meet your fees.

Reply by CarolynCO on 1/31/06 8:42am
Msg #92545

This is one of the reasons when a SS asks for references, I only give them names of other SSs and not my TC contacts.

Reply by Beth/MD on 1/31/06 8:45am
Msg #92550

Re: BEWARE... SS's wanting references! Carolyn

Good idea. I've been asked for references so little, I guess I hadn't thought of giving them their own competition.

Reply by Mike_IA on 1/31/06 8:56am
Msg #92556

I provide references IF the company requesting my references will provide me with their references including the name of a bank officer where they do their business checking. After all I am the one extending credit so I have more reason to need references than they do. Then they say, "How do we know you'll do the closing?" That's why we need references. And I reply, "How do I know you'll pay me?"

Reply by LawrenceOK on 1/31/06 8:54am
Msg #92554

They wanted the references so they could confirm my former experiences in real estate and mortgage lending, so they said.

Reply by DellaCa on 1/31/06 8:59am
Msg #92558

Re: Thanks for the heads up on this N/M

Reply by Paul_IL on 1/31/06 9:06am
Msg #92562

Give SOX, Elite Signing in Cary, IL and Signature One as

your references...Maybe this company will try to take their business. Now that would be a Real tragedy!

I never give out references unless it is the name of a low pay SS that I no longer do business with cause they are "inable" to meet my fees.

Reply by Giselle_CA on 1/31/06 12:13pm
Msg #92633

Re: Give SOX, Elite Signing in Cary, IL and Signature One as

Excellent idea Paul! lol

Reply by Becca_FL on 1/31/06 10:12am
Msg #92579

Sylvia gave me some very good advice years ago. When companies ask for references, give SS other SS and TC other TC references. Sylvia said NEVER give a SS your TC reference.

Good advice that I still follow today.

Reply by patricia on 1/31/06 10:16am
Msg #92580

I have long been suspicious of SS asking for rederences and would never give them the name of a title company or lender, of course they will solicit them.

Reply by Dorothy_MI on 1/31/06 1:22pm
Msg #92648

Something else to be concerned about

Last Friday late afternoon, I closed a loan for one of the few SS's that I will work for. On Saturday I was going to another county for a closing and I wanted TC to get docs before Tues, so I went on line and looked up the UPS store in that area. They had a late Sat. afternoon pickup. I took the docs into the store and the clerk (think it was the owner, but not sure), went back to the UPS computer and inputted the info. As I was walking out, I realized that they do notary work there and I had just given him the name of a TC. Don't know whether he will use it or not, but with business being so slow, I won't be surprised if he does. The only good thing is that this TC has an excellent relationship with the SS so even if he does contact them, they will probably file 13 it. From now on, unless it is investment property, UPS docs won't be dropped until Monday and then into a drop box! I had to research, research, research to get my contacts and I'm not going to them to anyone on a silver platter.

Reply by CaliNotary on 1/31/06 1:42pm
Msg #92658

Re: Something else to be concerned about

That sounds a little on the paranoid side to me Dorothy.

Just because there are notaries there doesn't mean that they're signign agents, and it's not like any notary out there can't get a huge list of title companies just by opening the phone book or doing a quick google search. I doubt the guy at the UPS store even pays much attention to who the packages are addressed to.

I'm all for protecting our business interests, but I think we need to be reasonable about it too.

Reply by CarolynCO on 1/31/06 2:41pm
Msg #92691

Re: Something else to be concerned about -- Dorothy

The franchise owner of the UPS store closest to me is a notary and also a SA -- he knows by my packages that I'm a SA, also, and has even commented on the fact. Although I do go the the FedEx shipping facility because it is close, it's not feasible for me to drive to the UPS shipping facility, unless my signing is already in that general vicinity.

I've built a reputation with my clients because of the quality of my work and professionalism, therefore, I'm not afraid of him stealing them out from under my nose by collecting the shipping information -- which is available for anyone by searching the internet. May be I'm wrong, but that's like the mailman reading my mail before delivering it to me. I'm not saying that he wouldn't and/or doesn't collect the info, but personally I'm more afraid of the inexperienced lowballers trying to take a cut out of my signings.

Additionally, I would rather personally hand the package to him than have the uncertainties of leaving it in a drop box.