What can a mortgage broker/lender do to earn business and loyalty from Real Estate Agents? What is the single most important thing we can do for you?

Asked by Lori Beardslee, Canton, GA Wed Sep 15, 2010

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
Darrell Hess, Agent, Asheville, NC
Wed Sep 15, 2010
BEST ANSWER
Communication. There is nothing worse then dealing with a mortgage broker/officer then not being kept in the loop. Even though you may have built a relationship with the client, I probably have a better one. I'm not saying tell me everything about their private financial information, but I want to know what the status is/are on a regular basis. The PROBLEMS that are here now I want to hear and not 4 days from then. The other problem is even getting a hold of the lender. Emails with wrong contact number in their signature or fax number is annoying. It is especially unethical to have these incorrect fax lines if I've faxed private and confidential information regarding my client. Basically if I can not get a hold of you then I will not be referring my clients to you. I work and recommend four different brokers to my clients because they are good at what they do, they communicate with me, and they get the loan package on time.
0 votes
Desari Jabbar, Agent, Stone Mountain, GA
Thu Sep 16, 2010
Answer the phone or at least return telephone calls or emails. Don't disappear when things get tough and you find out the applicant won't qualify for the property and you can't close the loan.
Web Reference:  http://www.DesariJabbar.com
1 vote
Solomon Gree…, Agent, Duluth, GA
Wed Sep 15, 2010
Lori,

Wow. Glad you even care! I'm afraid there are multiple single most thing with me.

1. Please make contact with the prospect and call or return calls in a timely manner. Not doing so puts the referring agent in a very bad light with that client. One popular loan officer would get my message about not returning the client's calls, call the client and get voice mail, then call me and say she been calling and the client hadn't called her back. She's someone else's loan officer now. Come on, where there's smoke, there must be fire.

2. Please note the finance contingency expiration date on your calendar. If this date is fast approaching and you do not have a firm commitment from underwriting, the agent should be asking you about next steps. If you can't do the loan, we need to know that to protect the client's interest (and earnest money) before the finance contingency expires.

3. Please keep the excitement going if you can. Prospects often call because of a program they've seen on my blog that has made them believe that a home purchase might very well be in reach after all. I screen out buyers in an effort to get the good ones to my L/Os. Just recently, a client was sent to a major well-known regional lender absolutely pumped and ready to go. The client called after their initial conversation and told me that the L/O that I had recommended kept saying, "well, I don't know, we'll have to see" over and over again. She too is someone else's loan officer now.

Thanks for letting me vent. I feel better now.

Solomon Greene
REALTOR® Keller Williams Realty Atlanta Partners
(678) 775-2677
0 votes
Beth Turek, , Rockford, IL
Wed Sep 15, 2010
This is a great question! Of course, the leads continue to flow both ways, so agents who send lenders busines expect reciprocity of leads. If a lender receives 10 deals in one summer from 'AGENT A' and, the loan officer reciprocates with nothing..... do you think that LO would remain on the list of preferred lenders that agents share with clients?

This is a relationship industry. For every lead you expect to get, you must be giving one in return whenever possible. ~ It's the Golden Rule! Do onto others ~

And to all the agents out there:
Get your business cards into the hands of your favorite loan officers, they do run out!!!
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more