Corinne Guest, Managing Broker, The Choice of Professionals (Barrington Realty Company)

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Rainmaker
689,657
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

No, doesn't bother me at all - which is why I don't promote/"preach" companies, but promote people instead

Jan 09, 2017 06:37 AM
Rainmaker
2,191,393
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Climbing the business ladder to better ones self is to be expected...

Jan 09, 2017 06:31 AM
Rainmaker
2,105,126
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Depends on the reason they are moving. One of the best lenders I've ever worked with has moved numerous times in the past 15 years without missing a beat. But there were reasons...

Jan 09, 2017 06:24 AM
Rainer
42,498
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

As an LO with over 46 years in the business. I have made several moves. In fact one of my newspaper   ads states"Where in the world is Joe DAgostino." The reasons are many. In many cases (when the business was booming) I was offered as much as $45,000. to move. I know of some LO's offered as much as $100,000. to move. Other reasons were mergers, processing issues,better programs,etc. Many years ago,I learned that people deal we me, not my company,that is why i always considered myself a "free agent" and I was willing to go to the highest bidder. I learned one very important business factor first hand, loyalty is nice but it does not pay my food bills. Companies like Loyalty until you no longer produce.

Jan 09, 2017 08:10 AM
Rainmaker
600,520
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Yes.

With each rapid and sequential move, proficiency is lost. Me, nor my clients are to be players in this OJT scenario.

I will reconsider when they find a new home and have established tenure.

I don't need to invite that circus into the situation.

Jan 09, 2017 06:37 AM
Rainmaker
1,295,048
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

I don't really play up the company as much as the LO's ability to get the job done. I say that without a good processor & system at the company, his chances of success (aggravation) plummets.  I think that is why most LO's move, they can't stand the behind the scenes B.S.  

Hope a loan officer chimes in here.

Jan 09, 2017 06:24 AM
Ambassador
1,851,159
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      If they are climbing the career ladder, fine.  If they are leaving because they can't produce, get bad reviews, etc. that would bother me.

Jan 09, 2017 05:17 PM
Rainmaker
3,424,587
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Corinne,

I see your point, but bottom line for me would be, are they performing their job well for you?

Jan 09, 2017 08:04 AM
Rainmaker
719,780
Thomas J. Nelson, Realtor,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

Reasons?

My loan officer Jason E. Gordon changed companies 3 times in our early days, but all three were to get better results and more lattitude with what he could do. One of my deals was literally the cause of him leaving his last broker for Amerifirst, since his broker left us hanging on deal in escrow and that never should have been the case. I don't do it myself, I've moved twice in 18 years and one was because I literally moved 500 miles away, but the reasons behind the move is my main question why?

Jan 09, 2017 07:53 AM
Rainmaker
1,155,974
FN LN
Toronto, ON

People change jobs all the time.

Jan 09, 2017 07:28 AM
Rainmaker
503,406
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

My favorite guy has literally been with ONE company for his entire career of 25+ years. Started as a young pup, knows all, doesn't screw up. There's a comfort level there. Having said that, should he decide to move, I would follow him. Even if he moved 10 times. He wouldn't, but he has established his reputation and it's indelible.

But I also know those who want our business and flit from flower to flower. There had better be a good reason, or they had better be really, really good.

Jan 09, 2017 07:02 AM
Ambassador
3,367,056
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Yes it bothers me. I had a loan officer I was using and he left after only being there a year and a half. I followed him to the next company but he stayed less than 6 months. He only stayed at the next company about 4 months and now has switched two more times. I told him don't ask me for any new business until he has stablilized and stayed 2 years. 5 companies in 3 years tells me there is a problem and I can't keep up. My clients need to be able to find him after the closing.

Jan 09, 2017 06:55 AM
Rainmaker
446,657
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Some people need to change themselves, not the company they work for

Sep 02, 2017 09:49 PM
Rainer
100,216
David A. Weaver
Peoples Bank & Trust - Scottsdale, AZ
23 years helping folks finance their homes.

Thanks to the Dodd-Frank rules and how loan officers are compensated, and now the TRID rules and how they are being intrepreted, and big box compliance enforcement vs maybe a little more lenency with a smaller bank.  Loan officers and their teams and managers look for better operations, best execution practices and the best comp plan available.

For example I've worked the the big box banks where I MUST answer the phone with my NMLS ID or get written up.  I must quote the APR every time I quote an interest rate or get written up.  Neither are mandated by NMLS, SAFE or TRID, just the banks policy.  Didn't get discussed in the training but was the practice on the sales floor.  Sometimes a move makes mental health sense.  

Also, believe it or not Recruiters spin the job opportunity and they do it to managers when trying to get a team to make a move.  Happens more than you would believe.  You don't know the truth until you have been there a while.

So cut the guy some slack, ask him to explain what happened and if you are satisfied with the answers and he gets your buyers loan done on time in this over regulated lending environment, keep him.

We all go to the same well for the money.  Every lender and broker has potential access to FannieMae, FreddieMac, FHA,VA and Gnma loans, depending upon their banks marketing and business plans.

Just like some real estate offices work more with teams of realtors, some with individual agents, some with investors, some with builders, some with RELO's, some with buyers, some with sellers and I've heard rumers that managing brokers sometimes change direction so real estate agents leave as well.

AZ DRE and AZ DFI manage both real estate agents and loan officers with the same set of rules.  I'm sure your state has agencies that audit your companies as well.  

Bottom line, I work with the real estate agent that takes care of my referrals and don't really care to much what broker he has his license hung with. 

 

Feb 06, 2017 09:28 AM
Rainmaker
3,931,815
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No, if they still provided great service.

Jan 12, 2017 06:30 AM
Rainmaker
3,227,912
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Yes, I would wonder why that is.

Jan 11, 2017 08:53 AM
Rainmaker
129,260
Diana White-Pettis
Exit Bennett Realty - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

Not if the moves are promotions to strengthen his career.

Jan 10, 2017 04:11 PM
Ambassador
764,845
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

It should raise a red flag that a loan officer isn't doing good enough due diligence on propsective employers, but it could also just be a bait and switch where the lender is promising the moon & stars and then isn't delivering.

 

So it could be a red flag, but should more just be a question of 'what happened?'.  

 

I had a scenario back in 2008 where I had purchase loans in process and my lender at the time was getting hit hard by the market collapse --- I wasn't sure if I would be able to fund purchases in process, so I had to leave and join another place (even knowing the new place was not a good fit) just to make sure people buying homes weren't going to lose their homes ----- once I made the switch I immediately began looking for a more permanent home --- so within about a year and a half I was with 3 different firms, but the moves were all for good reason and necessary to ensure clients loans were funded.

Jan 10, 2017 11:32 AM
Ambassador
3,615,219
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

It depends. During the mortgage crisis, that happened a whole lot - not so much now.

Jan 10, 2017 07:43 AM
Ambassador
1,839,653
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

There are always reasons for any move but if there are too many moves in a short time that would concern me.  I knew one LO who was with a different company every time I turned around, it was hard to keep track.  Imagine this happens in the middle of processing your buyers loan! 

Jan 10, 2017 04:26 AM
Rainmaker
347,902
Peter Mohylsky
BETTER HOMES AND GARDENS REAL ESTATE - Destin, FL
Your Bucket List Broker in Destin, Fl..

Yes, it is a concern of mine.

Jan 10, 2017 03:37 AM
Rainmaker
452,016
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

I work with a good lender that is now with his 4th company.  I believe in him but it's hard promote him and a company together.  He changed companies at the close of escrow and docs needed to be redrawn, that sucked.

Jan 09, 2017 09:53 PM
Ambassador
2,845,377
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Northern VA

One of my favorite lenders jumped a bit there for a while and finally landed in one spot.  I followed him through all of it.

Jan 09, 2017 06:44 PM
Rainmaker
437,566
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

Not a bit.  In fact, my preferred lender has had three or four different logos at the bottom on his email over the past 15 years.    I know my clients feel the same way about my company because they will ask me who I'm with.  After seven years!

Jan 09, 2017 06:04 PM
Rainmaker
3,332,494
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not as long as the move is an improvement

Jan 09, 2017 05:54 PM
Ambassador
2,601,959
Anna Banana Kruchten CRS,CRB
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Yes it's shaky biz to me.  We had a title agent keep moving and I never knew where she was.....I quit using her for that reason as I never knew who would follow up with our clients.

Jan 09, 2017 04:17 PM
Ambassador
2,159,942
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

One of my favorite lenders have moved several times just looking for that right fit. 

Jan 09, 2017 03:32 PM
Ambassador
3,577,260
Praful Thakkar
eXp Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Corinne Guest, Managing Broker - definitely! How can  you rely on a person like this?

Jan 09, 2017 03:19 PM
Rainmaker
675,439
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

I wonder why he moves around so much? And would like to hear both sides of it. But question is, does he do a good job for your clients?

Jan 09, 2017 03:05 PM
Rainmaker
970,010
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

So long as they hop from company to company in my area and to good companies, I'm happy.  I usually promote the company rather than the person, since the company has the plans.  I just make sure to find a good person.

Jan 09, 2017 01:39 PM
Ambassador
1,458,540
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

If I have a good relationship with a lender, I will follow them from place to place (and have) unless and until they prove that my loyalty is unwarranted.

Jan 09, 2017 01:24 PM
Rainmaker
3,949,441
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

if he does a good job for you, I wouldn't be too bothered.... but if he starts slipping, cut him loose....

Jan 09, 2017 12:24 PM
Rainmaker
2,434,544
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

It does not bother me so much that they move ... it bothers me that they talk up how great and wonder it is for them but the move may not be the best for the clients they serve.  I have a great lending partner who is rock solid in his position and has been with the same company for many many years! 

Jan 09, 2017 12:08 PM
Rainmaker
2,369,076
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Yes it would bother me.  Seems to be a problem.

Jan 09, 2017 10:04 AM
Rainmaker
1,395,939
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One Group - Carlsbad, CA
Presence, Persistence & Perseverance

Only if there is a transaction in process

Jan 09, 2017 10:03 AM
Rainmaker
455,551
Gloria Valvasori, ASA
Better Homes and Gardens Real Estate Signature Service - Streetsville, ON
Quality Service, Exceptional Results, Since 1987

It wouldn't bother me if that person was a good mortgage broker and knew his/her stuff... It doesn't matter to me what company he/she works for... its the agent who I have my confidence with, especially one who I have worked with for many years.

Jan 09, 2017 09:54 AM
Rainmaker
2,267,907
Richard Weeks
Dallas, TX
REALTOR®, Broker

It would not bother me.  

Jan 09, 2017 09:41 AM
Rainmaker
2,518,225
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes.  It makes you wonder what's really going on and lower credibility to for your client.

That being said, it depends on why.  If it's consistent, that's not a good thing.

Jan 09, 2017 08:36 AM
Rainmaker
611,590
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

It depends. I know some that jumped from BOA to George Mason. Others jumped from Wells Fargo to ? Sometimes moving to another company is best for everyone.

Jan 09, 2017 08:35 AM
Rainmaker
297,337
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

If it's one of my preferred LO's I don't care where they are as I know they will get the job done.  I don't look at the company, but the person and how well they do their job.  

Jan 09, 2017 07:55 AM
Ambassador
3,368,086
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

It would depend on the situation and the reasons for the move, and how often.

Jan 09, 2017 07:25 AM
Rainmaker
4,272,283
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

During recent years, many of those moves have been justified.

Jan 09, 2017 07:00 AM
Rainmaker
230,551
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Yes it does - and it happens a lot. 

Jan 09, 2017 06:56 AM
Rainmaker
2,449,903
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Yes, it shows an issue and can disrupt any sale in process Corinne Guest, Managing Broker 

Jan 09, 2017 06:55 AM
Ambassador
1,235,560
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Yes it would but I have used some folks at the same company for easily over 15 years.

Jan 09, 2017 06:37 AM
Rainmaker
1,280,942
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Corinne Guest, Managing Broker No, not really. I deal with the loan officer because of their professionalism and loans they provide not because of the company they may represent.

Jan 09, 2017 06:34 AM
Rainmaker
2,376,549
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

At some point yes! The number of loans he/she closes compared with applications may have a bearing!

Jan 09, 2017 06:23 AM