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To do loans not not do loans, that is the question....

A few of my agents have been asking for the opportunity to originate loans, too. I have been hesitant, very hesitant as I do not have a loan background. Also, there is the question about conflict of interest. In California, with a real estate broker's license, I can sell real estate and do loans, too. I think the best way is to look for a mortgage broker partner so that my agents can originate loans for them and get the support from them. What's your opinion out there?

Posted by Kathy Low on 07/23/2009 07:42 PM

Comments (5)

Loan Origination for Realtors in the ActiveRain Channel

loan officers, mortgage, loan origination, mortgage partner, san diego real estate agents, california real estate

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5 Comments on To do loans not not do loans, that is the question....

JUL

I would not spread an agent that thin. Let them concentrate on what they do best, be it working with sellers or buyers. I see absolutelty no value in having them originate loans too. Just takes their eye off of lead generation, lead capture and writing contracts. Leave the lending to the lenders and the sales to the Realtors

I considered that this past 2 weeks when it seems that I cannot find a lender that could satisfy my very high expectations of communication skill. The last thing I want to do right this moment is to learn about trade, then I have to be the best in that too. I only enjoy selling houses.

In the end, it's a no go. It's just not worth my time and like you mentioned, I didn't want the conflict of interest.

Wearing two hats denies the client the benefit of two independent professionals.

Doubling up is always very bad for the client, but some times very bad is better than even worse!

Bill

I vote NO its hard enough to build buyer confidence in todays market after all the bad loans of the past were the builder / lender / agent was the same person..

JUL

Seem like "NO" all around! But what to do when I want to make my agents happy?

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