It's a very tough thing to turn down business. But as a mentor of mine once said after listening to me bitch about a client; "You CHOOSE your clients Bubba". What I'm trying to say is that while it's very easy to get caught up with a client who seems to be sending you a ton of business, is that it's equally as easy to get "taken" by that very same client. You have to be EXTREMELY mindful of the "give and take" role that both you AND the client should have in your business relationship. While it always seems that you, as the broker, are held to strict deadlines, the unscrupulous client seems to just "get to things" whenever he or she "gets around to it". He'll end up getting your head spinning so fast with multitudes of tasks and deadlines from tons of new assignments that you'll just not notice how long he's taking to reimburse you for your expenses (if he EVER does). In my opinion, any client who takes longer than 120 days (which by the way is already an unusually long time and not entirely acceptable) is probably one you should avoid. Trust me, there are too many things going on in the span of 90 days for you to have to deal with than having to chase down money from a so-called "good" client. The future value of money just is NOT the same as having it today..open your eyes and take a gander at the Wall Street Journal. Things are dropping EVERY day...including our dollar. And also trust me when I say that your client knows this. If he is not paying you back in a timely manner then he either is not organized enough to do so or he flat out doesn't care-neither is acceptable. Look, there are so many fantastic REO firms out there who you can do business with. You do NOT need to whore yourself out to losers in order to succeed. It is much harder to fire them when you're deep in bed with them. When the signs of one-sidedness start to show in your relationship then cut them loose right then and there, swiftly and cleanly, just like you would a cheating girlfriend! Don't be a sissy crying in your beer-Get over them and MOVE ON! Life is WAY too short to deal with LOSERS!
SLOW Reimbursements on REO Expenses...Some Firms Just Don't Get It!
