Am I Being Unreasonable?
Is the entire industry plagued by people who think they're entitled to a chunk of every deal without working for it or being responsive to customer needs?
I called a mortgage company that is capable of doing 203k loans. I explained every detail of my mortgage circumstances, which are admittedly complicated. I told them that I had made an offer that was being held up until I had a lender letter in hand and that it was very urgent. He tried to sell me on using his contractors for the rehab phase. He tried to sell me on using his wife as my accountant. I filled out their application and literally sent a dozen emails with over 70 pages attached.
I called the broker about half a dozen times and went to voicemail every time. I went over 24 hours without a single response from them. Yet I'm sure when I get the GFE there will be an origination point, discount points, and I'm certain a yield spread premium in there for them too.
Similarly, my agent told me that there was a competing offer on the property I'm bidding on and that I needed to hurry and get the lender letter over to him. I sent it first thing this morning asking for him to reply to the message to confirm receipt. Two hours have gone by with nothing -- during normal east coast business hours. I called him and went directly to voicemail. I texted him and didn't get a response. And he made me sign an exclusive right to represent in ALL transactions through mid December -- even if he does absolutely no work in bringing the deal, researching the deal, coordinating the deal, or apparently even answering his phone. -- Update. I guess it worked, he finally replied to my email.
I applied for a HELOC with TD Bank. It literally took over 120 days to get through underwriting and go to closing and they literally lost the entire loan package and didn't even notice for 30 of those days.
And then of course, there's the contractors who feel that they can show up whenever they feel like it.
I own a small business providing IT repair and consulting services. I wouldn't dream of treating my customers like this. I answer the phone 80% of the time and send it to voicemail 20% of the time. I give them honest estimates of completion times. I tell them when I have no idea how long it's going to take. And, I do it for a fair price. Why does the real estate industry in general think each segment is entitled to thousands of dollars for really crappy customer service?
I would think if anyone really is so busy that they can't answer their phone at least 50% of the time or reply to an email within an hour that they should hire a knowledgeable, empowered assistant to do their work for them.
So -- am I being unreasonable? What is a reasonable percentage of time to answer your phone vs sending a call to voicemail? How long should I wait for an email reply on something both sides know is urgent?