"Also, don't underestimate the power of persistence. I've had clients get turned down once, then call back a month later and suddenly get approved."
This is so true. I remember when I first started looking into mortgages, I called my bank and got a flat-out "no" on lowering my rate. Felt pretty discouraged at first, but after reading some advice online (probably here, lol), I decided to give it another shot a few weeks later. Surprisingly, the second rep was way more helpful and actually offered me a promotional rate that saved me quite a bit.
Makes me wonder how much flexibility these reps actually have... or if it's just luck of the draw depending on who picks up your call that day. Also curious—has anyone had better luck negotiating rates through chat or email instead of phone calls? I'm not great at phone convos, so if there's an easier way, I'm all ears.
I've noticed the same thing—sometimes it's just about getting the right rep on the line. From my experience:
- Chat/email can be easier if you're not into phone calls (less pressure, more time to think).
- BUT... phone reps seem to have more immediate flexibility.
"Makes me wonder how much flexibility these reps actually have..."
Honestly, I think it depends on their mood, coffee intake, or planetary alignment that day, lol.
Interesting take on the coffee and planetary alignment theory, haha. But in my experience, it's actually less random than that. I've found that reps often have a clear set of guidelines they're working from—BUT there's always room for interpretation.
For example, last year I was refinancing an investment property, and the first rep flat-out told me there was no wiggle room on the rate. Called back the next day, different rep, same company... suddenly there was a "special promotion" available. Go figure.
My hunch is that these reps probably have a certain amount of discretion built into their roles—maybe tied to quotas or incentives? I imagine they might be more flexible near the end of a quarter or month when numbers matter most. Just guessing though... anyone else notice timing playing a role?
"I imagine they might be more flexible near the end of a quarter or month when numbers matter most."
Funny you mention timing—I swear by the "Friday afternoon effect." Last time I refinanced, I called around lunchtime Friday, and the rep was practically throwing discounts at me like confetti at a parade. Pretty sure he just wanted to wrap up his week on a high note. Might've been pure luck, but hey... worth a shot if you're hunting for lower rates, right?
I've heard about the Friday afternoon thing before, but honestly, my experience was a bit different. Last time I tried refinancing, I called on a Friday thinking I'd catch someone eager to close out their week. Instead, I got someone who sounded like they'd mentally checked out already—zero flexibility and just wanted me off the phone ASAP. Ended up calling back the following Monday morning, and surprisingly, that rep was way more helpful and willing to negotiate.
Maybe it depends on the person you get or even the company's internal targets? I'm always cautious about relying too heavily on timing tricks because it feels like luck plays a big role. Still, if you're patient enough to try a few different times, it might pay off eventually...just don't bank on it every single time.
