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In my many years of banking and lending I've found the number one critical
components/ingredients of a
successful relationship between a RE agent and loan officer.
Be related in some way. 1)Sister, brother, cousin, brothern-law,
mothern-law, mother, father, ect.
Or do what many lender's do in lieu of a family relationship. Pay 1/2 of
your fee to the realtor (this is illegal but it is how the industry
operates).
Don't chase rainbows, you can walk on water as a loan officer/broker but if
you are not paying the realtor or if you are not related, find another way
to generate leads.
This isn't what you want to hear but it is reality nevertheless. It is all
about keeping max commission. You can take training, get coaching, do self
improvement until you are broke, but is will not change how the business
operates.
I paid 10k in advertising for a local realtor 2 years ago and the realtor
only sent me unemployed, in bankruptcy, in foreclosure clients: all were
applying for 100% financing. I later found out that all this agent's deals
went through his wife (who operates under her maiden name)
Cheers!
"UNOME" <unome@unome%.com> wrote in message
news:QgTVf.26$l6.12@bignews1.bellsouth.net...
> The purpose of this post is to test my assertions and illicit feedback
> on; 1) What do you think are the critical components/ingredients of a
> successful relationship between a RE agent and loan officer, 2) In what
> order of priority/importance do you place them in.
>
> This is what my experience has taught me (in order of importance):
>
> 1. I want to increase the number houses you sell.
> 2. I want to increase the transaction value of each house sold
> 3. I want to get paid (minimize attrition; lost deals) and get paid
> faster (quick closing times).
> 4. I want to increase the number of customers I service (lead
> sharing/lead generation/marketing assistance; reciprocal lead exchange)
> 5. I want consistent and accurate communication of the loan status.
>
> There is of course a lot of other attributes of an agent/LO
> relationship that are important, but I believe that I've touched upon
> the top 5.
>
> Do you agree with the components included above? Do agree with the
> order of importance? Is there anything that has been left out that
> would qualify as being more important then the above 5?
>
> The more feedback the better guys; thank you for your postings in
> advance.
>
> Regards
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Re: ATT Real Estate Agents... What do you want in a mortgage broker?
