Terry Anderson, CSP, CNHS
Century 21 Marino Real Estate Inc.
Cultivating relationships with mortgage professionals is important for a number of reasons. Most important, if you are truly dedicated to providing the highest quality service to your clients, then being able to recommend top flight mortgage professionals is a definite priority. They must be as highly knowledgeable and skilled in their field as you are in yours. Remember, if your clients are happy with the “whole” transaction, you will reap the benefits of greater potential referral business.
Relationships between realtors and mortgage professional are critical to the real estate profession. First, having a loan officer you have established a long-term relationship with enables you and the buyer to truly know whether the buyer is qualified, long before you begin the showing process. Second, as for listing agents, if the loan officer is one you are very familiar with, with a strong local presence, an offer is often more readily accepted based on the pre-approval or prequalification letter that accompanies the offer. This is especially true in a multiple-offer situation.
Of course, but with extra emphasis on “professionals.” The last thing my client needs is a loan that falls apart days before a closing. I rely on the mortgage broker to ensure that every aspect of a loan — from application to closing — is met with superior attention to detail, and with the same degree of service, respect and follow-through that I provide to my clients. That’s why it’s essential to work with a mortgage professional with an established reputation and track record.
Yes, absolutely. Any relationship that could lead to more referrals and increase your bottom line should be valued. We are in a service industry and having established relationships with a variety of lenders allows your clients more options when finding the right financing for their needs whether they are first-time homebuyers, investors or people who are just looking to refinance.