Mr/Ms Lender - Today, I’m A Listing Agent But I Represent Buyers Too
If we are listing agent, will we be responsible to get in touch with the lender to 'watch' the progress of buyer's mortgage?
What do you think?
Here's a great post - and a re-blog - from Michael.
Mr/Ms Lender - Today, I’m A Listing Agent But I Represent Buyers Too
This is not a tirade against all lenders.
All lenders are not created equal. I’m well aware of the fact.
I have worked with and continue to work with lenders who go above and beyond any expectation.
I am grateful that in these always changing times, there are mortgage experts who know the business. The questions to ask, the answers that must be given. Honest. Reputable. Under-promise, over-deliver --- those kinds of people.
Now…
For the other side of the story….
Listen to this transaction which happened not too long ago:
Before the buyers’ offer is accepted on my listing -- I call you or you call me(hint: when you call me --- this is a move that impresses me - definite points in your favor).
You promise the world. Your client is top notch. Great credit scores. Excellent work history. Proof of funds to close. Hey - I know the strategy too. When I present an offer I talk up my client and their ability to close.
I keep you updated and I expect the same of you. The delivery system(email, phone call or smoke signal) doesn’t matter.
The appraisal comes in at purchase price. Score!
Now how about full loan approval? Any conditions? When will loan docs be in escrow?
Then, phone calls not returned. Nor text messages. Email inquiries go unanswered. You know how we listing agents get during these times? We don’t like being nervous. On edge. It’s not good.
You know, I’m just the listing agent.
But I also represent buyers…some will call me and many of those buyers will need to obtain a loan. And because I only work with buyers who have a strong mortgage pre-approval in hand -- I like to find mortgage professionals who can do this work too.
So, while I’m a listing agent in this transaction, I’m always having new buyers contact me...wouldn’t you want me to have your name for me to refer?
So, you may think of as the listing agent to you - I also represent buyers...so Mr/Ms Lender you are being observed...my goal with you right now is to get this loan funded and the transaction closed….but I’m also interviewing you….very subtly.
Mr/Ms Lender - Today, I’m A Listing Agent But I Represent Buyers Too
Michael Jacobs
Coldwell Banker Residential Brokerage
BRE # 01165532
2065 Huntington Drive
San Marino, California 91108
Cellular: 818.516.4393
Office: 626.685.5246
Office Fax: 626.568.9507
michaeljacobs@coldwellbanker.com
www.camoves.com/michael.jacobs
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