Mortgage industry changes.

By
Real Estate Sales Representative with Skyline Realty

Lately, I am having to remind buyer that real estate agents and brokers are not licensed mortgage brokers. I find that many buyers expect us to know everything there is to know about the mortgage industry, despite the fact that rules may change at any time. I think that a real estate agent should have general knowledge of mortgaging and lending, including interest rates and new trends. Buyers should understand that the real estate agent's job is to help them find, negotiate, and secure a house. This includes working with contingency deadlines, 6D certificates, fire certificates, and on time delivery and execution of all documents. Buyers cannot rely on brokers for accurate mortgage information. That is the job of a mortgage specialist.

Comments (2)

Syreeta Saunders
Keller Williams Realty Centre - Randallstown, MD
Keys, MBA - The Keys2Day Team

COuldn't agree more - everyone should play their position.  We once had a mortgage agent give unsolicited advice regarding commissions to one of our clients.  Created a ton of issues.

Oct 01, 2009 09:48 AM
Alex Haidar
Skyline Realty - Cambridge, MA
REALTORĀ®, CEO - Skyline Realty

Thank you!

Oct 01, 2009 10:10 AM