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There is A Reason I Referred You to that Lender

By
Real Estate Agent with Buyers Brokers Only LLC - www.BuyersBrokersOnly.com MA Broker Lic 148149

There is A Reason I Referred You to that Lender

This post was insprired Patricia Kennedy's blog post How Far Can We Go To Discourage Buyers From Using A Lender Who Constantly Fails to Deliver and since the re-blog feature still seems to be "temporarily" disabled, this is the next-best thing.

Most experienced agents have had those transactions from hell, where the lender seems to be doing everything possible to keep the deal from happening.  No matter how much we stay on top of the details and deadlines, something new keeps popping up to cause ore delays and stress.  We have all also had a number of very pleasant transactions, where the lender is even more on top of the details and deadlines than we are, making it a stress-free experience.

You are hring an agent based on their experience and ability to help guide you through the process.  Finding the home is only one part of it.  Pricing, of course, is another important part.  However, it does not end there.  The agent has an endless sourceof knowledge, experience and information to help with the rest of the transaction.   You really should use all of that experience to your advantage.

As an agent, I do not benefit from referring my buyers to a certain lender or a certain home inspector or to any other professional.  My referrals are based on those who will give the best customer service and the best professional advice to my buyer clients. 

So, while some buyers' eyes may glaze over when I refer them to a lender, they should understand that it is done for a good reason - their own best interest. Use your agent's experience to your advantage.  That is part of the reason why you hired them.

Searching for Canton MA Real Estate?  Looking to buy home in Milton MA?  Contact the buyer agent who will put your interests first.

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Comments(7)

Tom Robinson
Keller Williams Realty Kingstowne/Alexandria, VA Office - Fairfax, VA
Experienced Real Estate, Professional Serving No. VA and DC

I don't usually have them "glaze over" but many of them have already started the approval process with another lender and do not want to pull another credit report. Most that do not have a lender already in mind will at least speak to my recommended stable of lenders but not always.

Feb 27, 2011 01:56 PM
Michael Ford
Coldwell Banker Heritage Homes - Marion, AR
Matching Families with Homes

Christine well said.  I wish all my buyers would listen to me when I refer them to a lender.  It's not always about the very best deal if the loan does not close!

Feb 27, 2011 01:56 PM
Clark Cook
1st Choice Realty of Fayetteville, LLC - Fayetteville, NC
Marketing Homes For Sale In Fayetteville NC Area

This is excellent advise Christine, and buyers are wise to listen! As you point out, we are there to guide them through the process. Experience is priceless!

Feb 27, 2011 02:00 PM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

All Lenders are not created equal. I only recommend the ones that deliver what they promise.

Feb 27, 2011 02:07 PM
Brenda Whitman, Live in Laramie Real Estate
Live in Laramie Real Estate, Laramie, Wyoming - Laramie, WY
Broker/Co-Owner, Laramie, Wyoming

Yes!  And especially true what you pointed out about us not benefitting from referrals!  If we refer, it truly is to the person we think can get the job done ... no fringe benefits allowed!

Feb 27, 2011 03:02 PM
Eileen Liles
970-216-0530 http://WeSellDeltaCounty.com - Cedaredge, CO
Macht-Liles Real Estate Group - Cedaredge, CO

Amen, Christine!  I have heard Realtors and speakers at conferences say you should not recommend lenders or inspectors, etc.  Well, I beg to differ and for just the reasons you mentioned.  If I am not profitting from recommending them and am recommending them because I have worked with them in the past and know them to be exceptional at what they do, why would I not share that with those who are paying me for that knowledge? 

 

Feb 27, 2011 03:04 PM
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Tom....well, not sure glaze over was the right term but they sometimes look at me with skepticism.

Michael....most buyers do not understand the intricacies of actually getting that loan closed on time.

Clark....thank you; buyers  need to realize we are more than door openers.

Wayne...me too.

Brenda & Eileen....we get nothing except for the satisfaction of providing great customer service to our clients and that is enough!

Feb 28, 2011 02:14 AM