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Mortgage Alliances Strengthen Your Value Proposition

By
Real Estate Agent with Realty ONE Group

Core Providers Boost Client Contentment 

Clients who use a core service mortgage company are 10% more satisfied with their real estate agent than clients who went elsewhere for their mortgage loan.  And there's a lot more at stake than customer satisfaction.  Reputable lenders, such as Aspen, who have established relationships with real estate agents have a significant impact on the outcome of the transaction. 

Consider the following: 

  • Agents who successfully direct clients toward proven lenders see a far higher percentage of deals through to close.
  • Real estate agents on the seller's side of the transaction are far more likely to reassure their client that the buyer is solid when the pre-approval is from a known entity versus an Internet-based mortgage company.
  • Invalid pre-approvals result in failure to see transaction through closing.

(Source: KW Magazine, May/June, Volume 4 No3)


Posted by
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To Our Continued Success,
Christin Griffin, Short Sale Queen
REALTOR® & Certified Short Sale Professional, CDPE

~Creating RAVING FANS through excellent Customer Service. Your Real Estate Professional For Life~
Matt Locke
Allstate Insurance - Alpharetta, GA

Hello Christin,

The whole packaged process from inspections, to home warranties, to Insurance can aide in that satisfaction level.

Measuring the value early is not as quantitative until the need to use the products is experienced.  Getting feedback past the sale can aide in measuring the value.  And as you said about the mortgage company the same could be said about the insurance agent.

I work with a property management company that rents homes (www.CrownGeorgia.com).  Back in September 06 I insured the new purchase and new home and walked the owner through "vandelism" and "extra liability coverage".  This past Thursday night the home burned to the ground.  Before knowing the full extent of loss (Life and property), the customer knew in advance that they had coverage for the unexpected. 

"Satisfaction" with the insurance agent was a start... Remembering the Real estate agent and company referred the insurance agent has set the stage for the next investment purchase.  Now both parties are in a GREAT position to refer the builder to rebuild too. 

Work with professionals that KNOW their business and take the time to make sure to advise it right the first time.  Those type of referrals will be remembered if not today but for years to come.

PS: NOTE... No loss of human life this past week.  But the family still suffered tragic losses.

Matt Locke    1-877-MattLocke (628-8562)

www.GeorgiaInvestorInsurance.com

www.GeorgiaHomeInsurance.com

 

May 29, 2007 12:42 PM
Tom Burris
NMLS# 335055 - Baton Rouge, LA
Texas/Louisiana Mortgage Pro - 13 YRS Experience

I agree that strong lending partners are a key to any realtors success.

I disagree that listing agents accept(or reject) offers. Homeowners do that.

9% fail because of preapproval? Interesting! I thought it would be higher.

 

May 29, 2007 01:03 PM
Venice Harris
EXP Realty - Conyers, GA
Real Estate Agent - Conyers, GA
Christin, you are 210% correct.  I couldn't agree more.  I usually try hard to stick to recommending the lenders that I know can get the deals done. 
May 29, 2007 01:54 PM
Steven Shewell
Primary Residential Mortgage, Inc. - Ephrata, PA
The Mortgage Maverick

Your words are true...to a point.  Recommending one company, like you did in your post, is like recommending one real estate company and saying they are the best.

We all know that the company doesn't make or break the deal - it is the individual loan officer or agent who makes it happen.   Knowing what you are doing in your profession will spell the difference between success or failure.  NOT knowing what you are doing will result in failure most of the time - REGARDLESS of the company with which you are affiliated.

Put another way, if the individual loan officer you work with at Fidelity were to leave and go to another company, would you continue to send all of your clients to Fidelity or would you send them to the new company the loan officer affiliated with?

Something to really think about...

May 30, 2007 12:34 AM