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10/13/10

Quality

It's about process...

Somewhere along the way, especially since the telecom/tech bubble and the rapid advancement of electronic communications, doing things in an orderly, well-thought out and thorough process got lost. Speed won out over doing things correctly, the right way, the first time, and now we are paying the price for it. The implications of not following a quality process can no longer be scoffed at, as they have been for the past few decades.

The real estate foreclosure scandal that is now finally coming to the forefront for what it is, a breakdown of proper legal procedure that is factually fraud, is the epitome of disruption of process. There was a reason why for decades prior to the nineties, real estate paralegals and lawyers, mortgage loan officers and title companies demanded precise research and documentation on paperwork for property transactions.

On a large scale those values were lost in the desire to make big and fast bucks by facilitating transactions with speed and little regard for accuracy, expediting them by fax machines and the internet, without thought to the implications down the road. We've barreled down that road uncontrollably, dead ended, and now will be paying a heavy steep price for a long time to come. The repercussions are not limited to real estate, mortgages and financial institutions but ricochet to other segments of the economy also.

It all comes down to quality work. It may be near impossible to unwind who really owns what and who owes what to who in this real estate tangle, due to the sacrifice of accuracy and quality to satisfy speed and quantity. One thing is certain, we will have to figure that out with quality methods in mind. An orderly, well thought out process, that is repeated accurately over and over again over time, is just as speedy as well as correct, results in no or few repercussions in the future. Accuracy and speed are not mutually exclusive of each other and both are integral to a quality process. It is imperative we put quality back at the core of any business transactions we do, as we rebuild our economy and this country.