Home Buying in Chicago>Question Details

Josh Marks, Real Estate Pro in Chicago, IL

Referral partners (Compliments/ Concerns)

Asked by Josh Marks, Chicago, IL Tue Apr 30, 2013

As real estate agents, what are some qualities that you seek when referring business to a mortgage professional? What are some qualities that you aren’t currently receiving?

Your input is greatly appreciated.

Warm Regards,
Josh Marks
Direct: 773.303.0033
Cell: 847.867.5998
Jmarks@wintrustmortgage.com
JoshMarksMortgage.com

We lend in all 50 states!

Referral partners

Help the community by answering this question:

Answers

10
At least acknowledge you got my message, simple as that!
1 vote Thank Flag Link Thu May 2, 2013
responding quickly to inquiries
1 vote Thank Flag Link Wed May 1, 2013
knowledge of the industry, in house underwriting , ability of comunicate in the 2 main lenguajes and their ability to refer back business ;)
1 vote Thank Flag Link Tue Apr 30, 2013
Personal relationship and trust that the job will be done quickly and professionally. In other words, prove it to me, and then I'll refer you.
1 vote Thank Flag Link Tue Apr 30, 2013
Cindy- I full agree with this statement. Delivering a referral has a direct impact on your business/personal livelihood. As such you would expect that a partner would treat your clients with integrality, respect, and quality service.
Flag Tue Apr 30, 2013
Quickness, knowledge of the industry, low rates, and works the weekends.
1 vote Thank Flag Link Tue Apr 30, 2013
Couldn’t agree more. Having a banker that keeps 9-5 hours in this industry isn’t practical.
Flag Tue Apr 30, 2013
Hi Josh,

This is what I look for when referring a lender:

• Well verse in products
• Familiar with local programs offered by city and state for buyers
• Good response time to clients and brokers
• Creative strategies in lending
• Prefer in house underwriting
• Sharing in brokers open houses


What I mean by creative lending strategies. Here is an example. I have a lender I like working with and at first we were going to use the IDHA program for my client because she is a first time buyer, excellent credit, not a lot saved and we thought this could help with the down payment, etc. Well under the IDHA program the rate must be 4.25%. Well rates are much much lower. It turns out giving a nice lender credit, and doing some other creative work and going conventionally lowered my buyer’s monthly payment significantly which is a huge plus for my buyer.

I like working with lenders that can see the bigger picture.

I hope this helps.
1 vote Thank Flag Link Tue Apr 30, 2013
Manuel- Thinking outside the box is always crucial. IDHA is a great program for a great number of borrowers, but there is always the exception. Providing the best program, for each individual program is crucial. Have you taken a look at IDHA Building Blocks ? Great program for; (Bellevile,Champaign,Crest Hill, Lynwood, Park Forest, Berwyn, Chicago Heights, Joliet, Melrose Park, Peoria, Blue Island, Cicero, Lockport, Maywood, South Holland) -- Have your lender show you--
Flag Tue Apr 30, 2013
Inhouse underwriting/funding is always preferred. Never a probelm at the closing table.
Flag Tue Apr 30, 2013
their ability to refer back business ;)
1 vote Thank Flag Link Tue Apr 30, 2013
Referrals are always a bonus. Mutually beneficial relationship
Flag Tue Apr 30, 2013
Quickness of response.
Quality of product.
Reputation of the company.
Rates.

Thank you for asking. Hilary
1 vote Thank Flag Link Tue Apr 30, 2013
Great response.So having the peace of mind in knowing your clients are being serviced responsibly.
Flag Tue Apr 30, 2013
I have to agree with everything that my colleagues have outlined. However I would like to add that communication of programs that are available to whatever census track is conveyed on a regular basis. I have a mortgage broker that actually keeps a desk in my office, they stay connected with all of our 120+ agents, that is so important to many of us.
0 votes Thank Flag Link Tue Apr 30, 2013
Thanks for all the responses. Your feedback is greatly appreciated.

1. Do they work nights/weekends?
2. Do they simply deny a borrower who cannot obtain financing, or do they work with that client to implement a plan?
3. Can they lend in all 50 states?
4. Do they offer sales tools that make your life as an agent easier?
5. Do they cater open houses/ offer marketing material?
0 votes Thank Flag Link Tue Apr 30, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer