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Rainmaker
281,614
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

Actually, that role should be very limited. It is the Loan Officers job to explain the loan program(s) and the plus & minus to each program. In my opinion the only time the agent should be concerned is if the property or type of property may not accept the chosen loan program.

As an example, there is no point in writing an offer on a condo that will not pass FHA guidelines if the buyer is intent on using FHA.  The buyer needs to make the LO aware of the property they are interested in so the LO can help find the right program.

Sep 06, 2017 09:45 AM
Rainer
27,819
Danielle O'Brien
Parkway Real Estate - West Roxbury, MA
Real estate Broker / Owner in Boston

I think it is important that they are using the right loan... but maybe more importantly the right loan officer and company. So, I do provide a few names of trusted lenders I have worked with in the past that I know can get the job done and has efficient underwriters.

Sep 06, 2017 09:42 AM
Ambassador
3,723,525
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Introducing them to the right lender!

Sep 06, 2017 11:18 AM
Rainmaker
3,504,086
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

That is a conversation they need to have with their lender. A question that has been asked and answered dozens of time in this section.

Sep 06, 2017 10:24 AM
Rainmaker
781,268
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

NOT THE REAL ESTATE AGENT'S ROLE! 

The agents role should be helping in selecting the right loan professional (if needed) rather than the right loan.

Sep 06, 2017 09:51 AM
Rainmaker
5,396,564
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we have NO role in that.... that's a discussion and guidance from your lender....

Sep 06, 2017 11:17 AM
Rainmaker
3,493,361
Richard Weeks
Dallas, TX
REALTOR®, Broker

None.  Introduce them to good lenders and let the lender make the recommendation.

Sep 06, 2017 10:42 AM
Rainmaker
287,388
Allie Angeloni
Long Realty - Oro Valley, AZ

Only suggesting names of Loan Companies to the borrower, that you know are honest and qualified, and that is my role as a realtor.

Sep 06, 2017 12:19 PM
Rainmaker
5,894,889
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Understand the needs of your prospect and refer him to a trusted local mortgage officer for pre-approval. 

Sep 06, 2017 11:37 AM
Rainmaker
1,448,762
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

none

Sep 03, 2018 08:09 PM
Rainmaker
1,904,214
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

I usually don't get involved in this.

Sep 02, 2018 06:52 PM
Rainmaker
485,461
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

Dear Anonymous,

 

zero, assist them in choosing a trusted lender yes, the right loan? no

Sep 06, 2017 12:30 PM
Rainmaker
3,066,356
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Allie Angeloni nailed this one!

Sep 07, 2017 03:51 AM
Rainmaker
1,362,046
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

None

Sep 06, 2017 04:24 PM
Ambassador
4,256,444
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Recommending qualified lenders to choose from so they can get the advice they need to make that decisi

Sep 06, 2017 12:20 PM
Rainer
335,818
Ron Tissier
Chapman Hall Premier Realtors (404) 580-9069 - Atlanta, GA
Defining Homes. Defining Lifestyles.

Like most have said here, I will provide 2-3 lender referrals to include my "in-house" lender.  Buyer's choice after that.

Cheers! 

  

Oct 06, 2017 09:52 AM
Rainmaker
4,392,522
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I give my buyers three names, and they talk to the lender, not my job in determining the loan product.

Sep 09, 2017 08:07 AM
Rainmaker
4,432,941
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

The loan officer does it.

Sep 09, 2017 04:03 AM
Rainmaker
1,042,137
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I think the real estate agent should be the Starting Point for helping the borrower select the right loan officer that has the loan programs most suited to that particular borrower.

Sep 08, 2017 05:33 AM
Rainmaker
1,307,792
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

If they're also the loan officer, quite a lot I'd imagine.  ;)  Otherwise, just point them to a lender if they don't have one.

Sep 07, 2017 01:55 PM
Rainmaker
3,484,009
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

none, let that up to the lender

 

Sep 07, 2017 01:51 PM
Rainmaker
4,798,831
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

They can advise. 

Sep 07, 2017 08:35 AM
Rainmaker
2,887,811
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Directing the buyer to an awesome lender who can guide them and/or possibly a great CPA. 

Sep 07, 2017 06:40 AM
Rainmaker
601,246
Mitchell J Hall
Compass - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

I help them find the right loan officer/lender. I put them in good hands. That's my role.

 

Sep 07, 2017 05:59 AM
Rainmaker
584,075
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I hand them a list of lenders and tell them to talk with 2-3 of them. Beyond that, I don't delve into the details.

Sep 07, 2017 04:55 AM
Ambassador
4,306,997
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Let them choose the right loan....

Sep 06, 2017 10:28 PM
Ambassador
4,763,896
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sending them to a trusted lender

 

Sep 06, 2017 09:30 PM
Ambassador
2,470,082
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 I leave that to the Lender.

Sep 06, 2017 08:30 PM
Rainer
307,947
Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

I am happy referring clients to a couple of preferred lenders.  My role is limited. 

Sep 06, 2017 08:25 PM
Rainmaker
1,052,577
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Sep 06, 2017 07:45 PM
Ambassador
3,985,357
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

If you have a trusted lender that is well versed in all the loan products, there is no reason for the agent to help with the decision.

Sep 06, 2017 07:41 PM
Rainmaker
4,931,628
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

None, other than introducing the borrower to several conpetent lender. A

Sep 06, 2017 07:08 PM
Rainmaker
3,064,099
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

I would recommend a few lender. But it is not my position to help a borrower to choose the right loan.

Sep 06, 2017 06:29 PM
Ambassador
1,706,708
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Always give options.

Sep 06, 2017 06:26 PM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

I provide them with the names of a few Mortgage Agents that I trust and have worked with and let them make up their mind which ones they wnt to work with.  

Sep 06, 2017 05:51 PM
Rainmaker
3,985,581
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

NONE!  NEED MORE STUDY OF REALTOR'S JOB.

Sep 06, 2017 05:46 PM
Rainmaker
3,185,813
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The role is explaing what each loan is working with a local and trusted loan officer who can break down numbers on said loans

Sep 06, 2017 05:03 PM
Rainmaker
467,024
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Very limited outside of advise to use a local lender and sellers often make their selections in multiple offers based on the financing. Buyers need to talk with the lender to choose the correct loan program that works for them.

Sep 06, 2017 04:19 PM
Rainmaker
1,917,676
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Directing the consumer to a knowledgeble Loan Originator !

Sep 06, 2017 03:29 PM
Rainmaker
1,412,127
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Point them to a lender.

Sep 06, 2017 02:19 PM
Rainmaker
822,800
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

To convey that the assurance of closing will prove to be of great value to the seller AND failure to meet the dates of the contract should impose a penalty on the lender ot offset the costs both buyer and seller will experience.

Moral to the story: The lender you choose could result in your offer being rejected by the seller. Choose wisely. Sellers ARE represented by knowledgeable professionals who will protect the home owner.

So, go with a lender who will provide 'FULL DOCUMENTATION UNDERWRITING' before you go house shopping.

That would be a great role for a real estate agent in this scenario.

After the introductions, the agent is effectively 'shut out' of all communication related to the lender and borrower.

 

 

Sep 06, 2017 01:10 PM
Rainer
116,985
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

typically the lender will show the buyers options withint their scope.  

Loans change all the times as do rates etc.   A lender is the price person to discuss this with.  

Sep 06, 2017 12:42 PM
Rainmaker
3,645,410
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Point them towards a good loan officer

Sep 06, 2017 12:39 PM