1,664,136
I provide information of several great lenders but make sure they know it's up to them who they use.
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Michael Jacobs
Pasadena, CA
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Sandy Padula & Norm Pa...
, CA
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John McCormack, CRS
Albuquerque, NM
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Richard Woodward NMLS#...
Plano, TX
269,785
My 'script' is I believe in buiding a relationship of this magnatude that trust and honesty is paramount, I've worked with my lender and I can guarantee you that is what he will provide.
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L. Scott Ferguson
West Palm Beach, FL
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Sandy Padula & Norm Pa...
, CA
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David Youngs
Woodbury, MN
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Richard Woodward NMLS#...
Plano, TX
115,432
Yes, I do recommend trusted mortgage contacts - absolutely - and yes, recommendations help a lot - in building my own business and theirs.
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SERENA RUSSELL
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Sandy Padula & Norm Pa...
, CA
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David Youngs
Woodbury, MN
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Richard Woodward NMLS#...
Plano, TX
1,466,257
Richard Woodward NMLS#217454 It's important to use a lender who is responsive and can close on time. A while back I a buyer went through two Internet lenders who were non responsive before they decided to go with their agent's recommended lender. After two 30 day delays, it closed 30 days later. It set my seller back 90 days.
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Sandy Padula & Norm Pa...
, CA
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David Youngs
Woodbury, MN
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Richard Woodward NMLS#...
Plano, TX
7,863,184
My experience is that most of the buyer clients will welcome loan office recommendations. Make it easy by having the loan officer call the prospect.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
26,764
If they do not have a lender I usually give them info on a couple of lenders that I know are experienced and reputable.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
67,369
In my buyer consult I include paper work the buyer can take home. I included 2 to 3 lenders info, 3 home inspector & our vendor list. I do not sway them to a lender I just include the lenders that can close a home.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
913,468
Yes, but they still make the final choice. I had one buyer that saw a sign nailed to a telephone pole for some so called lender advertising rates as low as 1.5%. People actualy fall for that bs and call them.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
2,245,675
Write blog posts that include them all, the contact numbers, address, people. But depending on the mortgage, certain "loan arrangers" have specialities and each sale has a special need to keep it alive on the table for the clear to close.... Go easy online picking and choosing and promoting one as whiz bang, great as sliced bread. It makes the rest of the lenders pull away, remove you from their Christmas card list and more.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
921,504
Do you encourage a buyer to use a lender I know and trust?
You bet!
How do I recommend?
By sharing the existing lenders track record AND what sellers value most.
What tools would help?
A plan B.
Here's the deal. REALTORs know, you know and everyone else knows there are parts of the lending process for which you have no control. The Wells Fargo guy provides INCREDIBLE service, exceptional communication, on top of all the stuff, just can't get the underwriters to do the right thing on time if at all. Can't close a deal. The result is smoldering ruins. In essence the LENDER burned my client.
What tools?
A plan B and/or a replacement client.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
3,416,038
I sure do, it is important they use a local and trusted bank or mortgage company that will provide good service through out the buying process.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
4,434,177
When buyers call me to look at homes and they have not talked to a lender I give them names of few lenders in my area and they can talk to one of them to be prequalified.
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Sandy Padula & Norm Pa...
, CA
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Richard Woodward NMLS#...
Plano, TX
536,943
Working with lenders can be a great experience if they can call clients on evenings and weekends. Pre Qualification is key and most buyers call after hours and weekends. Getting everything done in a timely manner. Explaining any hiccups to me and to the clients so they can be worked out.
Of course I give them a choice from a vendors list with the ones I know are good to work with. They do have a choice of choosing someone they know and trust.
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Richard Woodward NMLS#...
Plano, TX
1,712,776
If there is one place a REALTOR® needs to take control it is this more than any.
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Richard Woodward NMLS#...
Plano, TX
157,043
Always recommend a lender, I tell the Client that they are free to choose who they wish but I do have leverage with my recommended lender if there is a problem.
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Richard Woodward NMLS#...
Plano, TX
2,569
Great question. It's a bit of a dilema isn't it? I know realtors who insist that their clients use only lenders they recommend.................once bitten policy. I provide the client with a list of reputable lenders. Most welcome loan recommendations. Some buyers already have a strong preference for a loan person at the institution where they bank,. Other buyers prefer to get a list from me. Some big banks get negative media coverage but the good ones rarely get enough praise. I feel it important to make contact with the lender and exchange contact details. I am pleasantly surprised to find that most lenders are well set up to communicate with the buyer, offering a secure portal where client can send and receive most documents for signing electronically. Paperless transactions is what most buyers prefer..................but ocassionally there is a non tech savvy client........and for them I work the old fashioned way tailored to the clients needs. Making it work for the client is the most important.
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Richard Woodward NMLS#...
Plano, TX
4,800,132
I let my clients know about lenders that I have worked with in the past that offer great service. Though, I can't force them to use them
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Richard Woodward NMLS#...
Plano, TX
4,900,966
I would not work with a buyer who would not use a lender I recommended. I have been burned too many times.
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Richard Woodward NMLS#...
Plano, TX
630,251
3,071,489
We provide Buyers with a list of three lenders who have previously demonstrated their competence. It's the Buyer's choice - and the lender "reports" to the Buyer - not to us - except for the "reports" stipulated in the purchase contract that the Buyer "deliver" to the Seller...
3,627,072
1,728,156
We refer them to three lenders we have used successfully in recent transactions. The rest is up to them