Hello all: I thought I'd turn the tables a bit and relate what my expectations are for a realtor. Invariably the talk is always about what a loan officer needs to do to satisfy a realtor. So I thought I'd change it up as turnabout is fair play! Please understand part of this is just having some fun. It in no way is intended to make fun of what I think is a great profession. In fact, I'm not sure I'd want to do your job and admire you greatly for doing it.
So here goes. My expectations for a realtor are as follows:
1) Allow me to do my job just as I allow you to do yours. Most of the time this happens and there are no hitches. Occasionally I get called incessantly or questioned about something that I know how to already do.
2) Learn our side of the business. I'm not asking you to know every intimate detail but it's impressive to me the more you know. Last summer I had a transaction with a realtor that was great. It was at a time when loans were getting really tough to do and this realtor was not only understanding but she was right up to date with what was going on.
3) Be available and return my calls. If I'm calling you it may be important so I suggest you get back to me. We keep score as well.
4) Be a professional. I like to work with realtors who are completely dialed in. They plan on being in the business for a long time and treat it as a career. The realtors I know and work with I admire. They're the best and I feel lucky being a part of their circle.
5) Value relationships. I've heard the stories about loan officers "hounding realtors" for business. I've never done that because I would prefer to work with people who want to work with me and vice-versa. If you can't sense a long-term working relationship, then find someone else.
I hope this helps. Again, I sense that for the most part the only people still in the real estate business are the truly dedicated. I wish you luck! Have a great weekend and a fabulous 4th!
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Paul, Valid points that should be common sense for most agents. I think #1 is really just a reflection of the industry over the past few years. I do make it a point to follow up closely with my client's lenders, even more so if it's the first time I've worked with them. I'm sure you will agree that there are many in your chosen profession that lock the skills and knowledge to bring a home to closing in this market.
#2 Any Realtor worth their salt (commission) should have a good working understanding of lending practices and at least a basic understanding of most programs available.
#3 a pet peeve of mine as well, it's just unprofessional not to return calls timely.
#4 Completely agree
#5 I view the loan officer as a member of the team. Our mutual goal is to serve the client and provide them with the expertise and service required to make them a happy homeowner!
Yes, the bad apples are falling off the cart and none too soon IMHO.