Arrogance Is Always Ugly — But Combined With Ignorance? Felony Stupid
Posted @ 7:43 pm - Filed under Financing
Note: The following is just as easily applied to real estate agents/brokers. They’re just as guilty of what I speak of below. Today though, we’re talking about lenders, and their misbehaving kids.
In sports, there’s an old saying with which I’ve always held strong disagreement. It says, “If you can do it, it ain’t braggin’”.
Uh, pardon me, but if someone in a conversation begins to boast about all the money they’re making, it’s bragging, and whether he’s lying or not is wholly immaterial to that fact.
Ever been around one of those arrogant types who always has to let you know they’re living in a better home, or driving a better car? What’s the purpose? Is there anything of value accomplished? (A trick question.)
Then there are those who are what I call circumstantially arrogant. 
They might be experiencing some great results at work — they’re a real estate agent. During the recent boom years they enjoyed an incredible rise in income. Of course, it was, if you listen to them, mostly due to their hard work, marketing, and general superiority. Now, when somebody gently suggests they were never Super-Agent before those years, and they’re certainly showing no current signs of superiority now, they tend to get a little touchy. 
Some lenders the last week or so are acting as if they’re God’s gift to the real estate world. Today, Brian Brady made this point in what I’ve learned to call Brady Fashion in, It’s A Lender’s Market. He’s a lot nicer than I might have been, as some of the young folks working for lenders these days couldn’t find their backsides with two helpers, a map, and a GPS. Yet they act like you need a new heart by tomorrow and they’re the only Cardiac Specialist for thousands of miles.
Surveys have shown that breakfast can be the most important meal of the day — especially when thinking is crucial to your continued employment.
A word to lenders: There are some pretty good guys out there, who’re both phenomenally knowledgeable, and have been in the business since before some of these arrogant little pups were out of grade school. If some of these kids studied lending seriously for the next year, they probably still wouldn’t know what guys like Brian have forgotten. And know this — there are many lenders with Brian’s experience and know-how who treat borrowers as persons due their respect. Have you ever wondered what some of your younger employees are eating for breakfast — given the way they’re talking to your borrowers customers?
(By the way, besides Brian, there’s also Morgan Brown. Both guys are based in California, but Brian can lend in all 50 states, and I’ll bet Morgan isn’t limited to just CA either.)
As Brian astutely points out, the management of lending institutions would be well advised to begin paying attention to how some of their clueless youngsters are behaving — while under the company’s banner.
Ignorance combined with arrogance = Felony Stupid more times than not.
The current squeeze will have a far shorter life than these pipsqueaks realize. Let them show their ugly clueless arrogance to a long-time broker who has been a faithful and loyal source of business for years, and watch what a smart lender does in response. Can you say, “Clean out your desk”?
It’s this part of the business cycle that can make or break future business. How you treat every day folks, with respect and dignity, or with arrogant disdain, will make an easily measurable difference when the wheel turns. And trust me, the wheel? She’s big, and she turns.
The last time I ran into one of these types was back in about 2002 or so.
Her blown promises, hysterically bad advice, and most of all clueless arrogance has cost her boss countless millions in loans. I know one broker who worked with him for almost 20 years. He hasn’t given him a loan in almost two years now. How can he? Some of his clients (plural) have called him because of statements she’s made, openly contradicting his investment advise! 
Like I said — Felony Stupid.
Lenders, please watch and listen to what your young quasi loan officers (and processors for that matter) are saying to your clients. This current swing of the pendulum is temporary. When it swings back to more or less normal, there could be a nasty surprise waiting for you, especially if you haven’t kept on top of the attitudes and behaviors of your youngsters.
Brian Brady is right, I think, when he says - The days of the hot little boys and girls playing banker are done.
Enough said.
This entry was posted on Sunday, August 12th, 2007 at 7:43 pm and is filed under Financing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.