Home Buying in 78704>Question Details

salvador.vil…, Home Buyer in West Hills, CA

Keeping my lender if I change buying agents?

Asked by salvador.villagrana, West Hills, CA Mon Apr 8, 2013

I am in the process of buying a home and the buying agent has not been as involved or able to walk us through the process and has not been able to find us a listing with our preferences. I have personally found all the homes we have looked at via the consumer real estate search engines and I have lost several "multiple offers" scenarios. I have a pre-qualification letter but still working on an actual loan approval. After some internet research I see that I should have had my loan approval prior to even starting the home search. I don’t want to go through the hassle of changing lenders since I am so close but I want to change realtors. Can I stay with the lender the realtor recommended or used and change realtors? I am in CA, WSFV

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Shawn Amerson’s answer
Salvador, the prequalification stage is the first step of the process and doesn't take very long. I can prequalify you in a matter of minutes. I would recommend that you find a mortgage broker or loan officer that has your best interests in mind and communicates with you constantly throughout the home buying process.
0 votes Thank Flag Link Wed Apr 10, 2013
That's a good and difficult question ... If the agent did not deliver for you, my concern is they recommended a lender that won't do the same. It's very important to have a strong three way relationship (buyer/agent/lender) during the buying process, especially in this busy market.

Have a talk with the lender, let them know you are switching and have them promise to be fully committed, stress your concerns. Have a talk with your new agent, what is their relationship with your current lender?

A pre-qualification letter is what you need to be making offers in this market and with a great lender they update this letter for the homes you make offers on, so you want a strong relationship with them.

Let me know if you have anymore questions, I would love to help!
0 votes Thank Flag Link Tue Apr 9, 2013
I know an Excellent Realtor in West Hills, CA I can recommend. I was born and raised in North Hollywood, California and have many professionals there who can help you. I have a particular star Broker who will take care of you and she know West Hills very well.

Mark Garner
PFS Realty
0 votes Thank Flag Link Mon Apr 8, 2013
Thanks everyone for the very quick response and answers. Looks like a hunt for a new agent is in he works this week. I am glad I did not sign any agreements with our current agent. For some reason my question posted in TX? I am in West Hills, CA
0 votes Thank Flag Link Mon Apr 8, 2013
You are free to use any lender you wish. That being said, if there is a financial relationship between that lender and the agent/agent's brokerage you might wish to rethink that. Lending is very competitive and shopping around for the best terms and conditions is essential. As for a Real Estate agent, same scenario. It's very competitive. Interview several and make sure you understand what they are going to do FOR YOU! It should never be about the agent's wishes, only about that agent's efforts to help you achieve your goals.

Best luck to you.

Ron Cullinan
Avalar Austin
0 votes Thank Flag Link Mon Apr 8, 2013
Unless you have signed a "buyer’s agency agreement" you can change agents anytime. If your agent is slow, unresponsive or just not up for the job, find one who is. A great agent can make the difference in the competitive market we are currently experiencing.
You are correct however that looking at homes without a pre-approved loan is not a good strategy. It's like going hunting, bringing your gun but no bullets. You are not in position to make an offer that will be taken seriously, so your agent may not have cost you any purchases, yet. The fact that you didn't understand this may be reason enough to find an agent who would have explained it to you.
Interview a few agents and find the best one you can. You need someone experienced, knowledgeable and successful in this environment. Ask them hard questions, read their websites, blog posts and any other questions they've answered here or on other sites.
Buying a home is a huge investment, your first decision in selecting and agent must be a good one if you want to do well. Best of luck.
0 votes Thank Flag Link Mon Apr 8, 2013
Hi Salvador,

Yes, you can certainly stay with your lender. I'm sorry you haven't had a good experience with your current Realtor. We are in a seller's market right now and homes are selling VERY fast with multiple offers. A Buyer's Agent has to be very quick and also has to have very good communication with their client! Should you decide to change Buyer's Agents, I would be glad to help you! I have been living and working in the Austin area for 33 years. You can reach me at the information provided below...

LeeAnn Renfrow
Private Label Realty
0 votes Thank Flag Link Mon Apr 8, 2013
You can definitely keep your lender if you switch agents. I'm sorry to hear you have not had a good experience and can understand your desire to switch.

Your choice of lender and agent are really unrelated. Best of luck moving forward!

Kyle Pfaffe, REALTOR
0 votes Thank Flag Link Mon Apr 8, 2013
Yes. The Lender and the Realtor are indivudual of themselves.
I would be happy to work diligent for you to get your offer in as soon as the property you are interested in comes to market.
Loan approval will not come from a lender until a house is under contract an appraisal has been complete and all necessary loan documentation has been prepared.
Please call me at your earliest convenience.
I am here to serve you.


Mark J. Garner
PFS Realty
0 votes Thank Flag Link Mon Apr 8, 2013
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