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I always refer 3 of each.
We give multiple choices with all business referrals.
I make referrals of people I trust and have vetted! I offer it as a help and suggestion to make the process easier. If I know of more than one I will refer them to all!
I would refer them to the specific person that could best meet their needs.
Newport Beach, CA
Depends upon situation and client and even the house. We have some "hinky" leaseholds in our market and frankly just ONE lender does them. I don't even like that lender, but they are the only game in town for these certain properties. There is usually a BEST person for the loan.
When it comes to handy men type stuff I try to recommend a couple or so.
I refer 3 names for services and let my client make the choice after talking with each.
If I have a Realtor referral, I only give one name. Handyman referrals or contractor referrals are complicated here by requirements in Maryland that we vet them to make sure all licenses are current. I've started to suggest Angie's List.
I always refer multiples and say these are from past clients who werer pleased with their service!
I keep a folder full of business cards. Lenders, Title, Roofers, etc. I give 3 different b-cards to my client or customer. I will not recommend any unlicensed "handyman" no matter how good they are.
- Realtors, one
- Inspectors, a short list
- Lenders, one or two depending on client needs
Julie A. Black
When referring to a lender I usually give a couple of choices that I think will be a good fit and let the buyer decide. I give the buyer my entire home inspector list with several checked that may be able to schedule it in quicker. Again the buyer decides.
I try to give them as many options as possible, but that doesn't necessarily mean I refer more than one, since I want to be certain that referrals that I give are going to right by my client.
Service providers: Three.
Something many of you won't know (yet).
Have a look at page 5 of the new Closing Disclosure. See how your name and license #, as well as the lender's information is listed? This is all going into a giant database for the CFPB and they will be looking for unusually high correlations between the Realtor and a lender. IF that lender's name/ID # and yours comes up on the same closing many more times than what would be considered statistically normal, you may find yourself being investigated for a possible RESPA section 8 violation, even though you're not doing anything wrong by accepting anything from the loan originator for the referral. Be very careful how you operate going forward. Brokers, this is a piece of information you need to share with your agents at your next meeting.
Either refer several individuals when it comes to financing, or refer none. The regulators are on a witch hunt to justify their existence. Don't give them any help...
Multiple lenders, I longer recommend warranties but tell my customers about them and seldom recommend a handyman until they call with a problem
parked and reading - waiting for Michael Jacobs
I do not know a good handyman.
Sometimes, it's only one name; sometimes it's two names; sometimes it's three names. It all depends on the situation and what the client is asking for. Often clients just say to me "whom do you personally use?"
Caroline Gerardo - usually just one lender.
Great question - we are encouraged by management to give 3 names
It depends on the situation, but generally I provide multiple names based on experiences and recommendations from others
I have a list that I hand out to buyers at closing of vendors that I personally use or would use.
I suggest they work with in house preferred lenders so I can facilitate.
If asked for a referral, it depends on what they are asking for. electrician - only one - the guy who I use on my own house. Same goes for general contracting and flooring. I have a couple of lenders I refer to but always someone that I have personal experience with.
I try to give 3 referrals but sometimes I dont have that many choices in our small town. I have 1 plumber I refer because he is the best as far as customer service. So it depends on if I have 3 choices (such as home inspectors) or if I know that my first choice is the best choice I will let my client know.
A,ways have multiples.
Three options are my norn. I also ask for feedback to make sure they are getting the value I represent.
When I refer to a Realtor ... it is one at a time. I usually call first and from our discussion know if this agent is a good fit. If not, I keep looking. For Lenders, it really depends. If I receive a call from a perspective buyer who does not have a pre-approval Letter I call one Lender and have them follow up. If they are not able to do that right away, I advise them I'll be calling another lender (that usually causes them to make it a priority). When it comes to insurance, home inspectors, or handymen I have 3 or more names and numbers and let the clients see who they feel the most comfortable with.