"What do you get when I use one of your lenders?"

By
Real Estate Agent with Thompson Company, REALTORS® MD594797
https://activerain.com/droplet/t2g

"What do you get when I use one of your lenders?" is not a question I hear everyday but I do get asked occasionally.

There is a short answer and a long answer to this question. The short one is nothing but it doesn't completely tell the truth. Nothing only refers to monetary incentives - kickbacks happen to be illegal in the State of Maryland and it is not part of my business plan to break the law.

It would be too simple to leave it at that, however, because there is a lot of value in my lender's list. It's not a long list, I keep it pretty exclusive. However, if there is someone I'm no longer comfortable referring my clients to, I'll take him off the list. On the other hand, I also am happy to add new (new to me, not new to the business) loan officers who have impressed me.


What do I get when you decide to work with one of my lenders?

Simply put, peace of mind. Knowing that you are in good hands is invaluable when it comes to your home buying plans. I know these loan officers will go above and beyond for you. They'll work hard to educate you if you are not ready and find the best program for you when you are. They keep the lines of communication open and follow through. They'll do what they say they will. They'll do it when they say they will. They answer my questions before I even ask and I know everything will get done when it's supposed to. They have the same work ethic and offer exceptional customer service.

I have known a couple of the loan officers on my list for years. There is Jeanne Topper, a senior loan officer with PCR Mortgage Services, for example. Although I'm no longer affiliated with the company where Jeanne and I met in 2004, she's still the same great loan officer and I'm always happy to be working with her.

Bridget McGeeMore recently I added Bridget McGee with CrossCountry Mortgage Inc. Bridget, a.k.a. Maryland Mortgage Mama, and I found each other through our blogging family on Active Rain. I could tell from her blogs that she's not only very knowledgeable but also a very nice person with a big heart. Whether or not a loan officer has a personal approach may not matter to everybody but it matters to me. Bridget wont keep you waiting, she'll check on you and keep you and me informed. Bridget has my kind of work ethic and puts her clients first. That is the peace of mind that I'm looking for in a lender.

It is entirely your choice which lender you would like to work with. I wont force my list on you but if you do need any suggestions, I'd be happy to provide you with some names and numbers.

Peace of mind, that is truly what referring lenders, Title Companies, home inspectors ... is all about. Knowing that you are in very good hands is important to me. Not only does it make for a smoother transaction for all involved, it also makes for an enjoyable experience. A satisfied client is a happy client - that's what I strive for and that's what I get out of it.

P.S. In the interest of full disclosure, Bridget has paid for a cup of coffee and a bagel for me when we met for a little get together and I'll happily pick up the tab next time. You are more than welcome to come along!

Posted by

ANDREA BEDARD, M.A. ~ THOMPSON COMPANY, REALTORS ~

 

 

   

                                                                                                              

 

Thompson Company, REALTORS
16910 Oak Hill Rd, Silver Spring, MD 20905
o: (301) 384-9177 c: (240)593-2860

andreabedard.re@gmail.com

Andrea is a REALTOR® based in Silver Spring, MD. She has enjoyed assisting buyers and sellers since 2004 and focuses on residential Real Estate in  Montgomery and Howard County, MD. Andrea is a proud mom and hobby decorator with a vintage soul. She always answers the phone with a smile, enjoys running and treasure hunting and is addicted to coffee.

 

 All photographs are my own and I'd like to keep it that way. All information is deemed reliable but not guaranteed.

 

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Martha Brown 02/15/2012 02:08 PM
  2. Bridget "Mortgage Mama" McGee 02/16/2012 12:33 PM
Topic:
Home Buying
Groups:
1st Time Buyers
REALTOR LIFE
Best Business Practices
EXPRESS WITH WORDS AT ACTIVERAIN
Advice for Buyers
Tags:
maryland lender referrals
bridget mcgee maryland mortgage mama
jeanne topper
andrea bedard silver spring realtor

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Ambassador
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Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change
I get someone who will review the file exceptinally well upfront. Minimizing surprises later. They'll make sure you are happy, and I am happy. They want my business and your business again, and referrals. They don't sit behind a website getting hundreds of leads, but work hard for repeat business. They will communicate and keep to timelines. THAT'S what they will do.
Feb 16, 2012 01:42 PM #31
Ambassador
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1 ~Judi & Don Barrett & Chassy Eastep - Integrity
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Recommendations are earned and there is a reason that recommendations are given.

Feb 16, 2012 09:36 PM #32
Rainmaker
491,592
Rob Spinosa
Guaranteed Rate, Marin County, CA - San Anselmo, CA
Vice President of Mortgage Lending, Marin County

Great post.  One of the good things about the internet is it provides homebuyers with a ton of information on obtaining a loan.  One of the bad things about the internet is that it doesn't help them interpret any of it.  When a real estate professional makes a referral to a loan officer, he/she does so because there is a working knowledge and history of results.  I'd be willing to bet that the majority of homebuyers who follow such a recommendation obtain positive results.

I know that when I get a Realtor referral, those buyers are not only going to meet with a successful close, they are going to do so at a great rate and with service that exceeds their expectations.  They could search a long, long time for that on the internet, or they can get it directly from their agent. 

Feb 16, 2012 09:59 PM #33
Rainmaker
1,347,607
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Andrea, "peace of mind" - priceless. Recommending people who you know can and will get the job done will save the buyer a lot of problems in the long run. Good post!

Feb 16, 2012 10:08 PM #34
Rainmaker
221,036
Richard and Jean Murphy
Harborview Properties - Portland, ME
(207) 712-4796

Having a lender in whom we have confidence allows us to concentrate on Realtor matters and not have to keep "checking-up" on deadlines and paperwork. Still do, but it is more a personal call than a business call.

We are finding that buyers have already spoken with a lender so we get to meet and assess their work and, perhaps, they may become worthy of recommending.

Feb 16, 2012 10:13 PM #35
Rainmaker
1,344,853
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

Satisfied clients are a key to future referrals so a good lender is priceless.

Feb 16, 2012 10:49 PM #36
Rainmaker
732,328
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

I agree that peace of mind is one of the largest benefits of recommending somebody you know who can perform what they say they will. 

Feb 16, 2012 10:54 PM #37
Rainmaker
680,642
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Bruce: I have about 4-5 on my list. It's important to give a choice. I find that if they haven't talked to someone yet they are more open to call the lenders we recommend.

Tammy: Thank you!!

Erica: I trust that you are enjoying my book.

Chris: LOL! It took me awhile to have a handful of lenders on my list that I trust and am comfortable with referring. Maybe Bridget has another cousin in your area (as it turned out the Jeanne I also mentioned is Bridget's cousin and I had no idea :-) !

Kamal: I try to give it my all and I expect the same from the people in my network.

VB: Yes, somebody did. Thank you!

Karen: That's one of the best things we can do, trying to minimize surprises as much as possible. I've worked with a couple lenders who were very eager to earn my business in the beginning and after awhile it was just not the same level of service.

Judi: That's right and it goes both ways.

Rob: Thank you for your comment and the subscribe! Very true - there's is so much information out there but it still takes to put all of it into perspective and apply it to everybody individually.

Michael: It just makes for a smoother transaction for everybody involved. Just like Karen said.. it's minimizing surprises which is invaluable.

Richard & Jean: I follow up as well. I love it when I'm about to email a question and there is their answer hitting my inbox already, before I even ask! I so appreciate the timely updates and keeping me in the loop - it makes it a lot easier and I can concentrate on all the other aspects vs. chasing after the updates.

Cheryl: A satisfied client is a happy client and only those will remember us!

Eileen: I always try to follow through on my promises. If I say I'll call you in the AM, then I'll call in the AM. I expect the same from the people in my network. Jeanne & Bridget don't only meet but exceed my expectations!

Feb 16, 2012 11:03 PM #38
Rainer
61,416
Ron Cooks
The Real Estate Marketplace - Killeen, TX
Texas Real Estate, Ft Hood/Killeen Homes for Sale

Andrea, very good points about using lenders you recommend.  For me, it's all about working in unison with my lenders.  I know them well enough to dispense with the pleasantries and get right to business.

Feb 16, 2012 11:39 PM #39
Rainmaker
948,100
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

We love the feedback we get after our clients meet our Loan Officers... They make our job easier and we are confident that everyone we refer to them we get exactly what they need... It's a wonderful feeling... thanks for your time.

Feb 16, 2012 11:58 PM #40
Rainer
109,489
Farooq Khan
Pacific Realty Partners - Newark, CA
Real Estate Broker - CDPE

Great post Andrea, The most important is to be working with the best in the industry to close the transaction with best results for the client.

Feb 17, 2012 12:34 AM #41
Rainmaker
592,615
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

I don't wait for the question. I tell them we do not make a dime in any shape form or fashion from anyone on our list. It is simply a compliation of names for their reference.

Yes, I remove people who do not perform as advertised.

Feb 17, 2012 12:38 AM #42
Rainer
159,508
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

How does one throw their hat into the Title Insurance ring?

Feb 17, 2012 04:11 AM #43
Rainer
72,454
Lang Premier Properties
Lang Premier Properties - Clawson, MI
Metro Detroit Real Estate Group

Great post andrea...you really do a good job promoting your lenders. peace of mind in that situation is very important!

Feb 17, 2012 04:15 AM #44
Rainmaker
2,688,992
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Andrea,  Congratulations on a well-deserved Feature.  We cannot put a price tag on trust and peace of mind.  I would venture to guess that kick-backs are illegal in all states.  Adding to what I get from referring a trusted lender - I'd say "We get to close"! 

Feb 17, 2012 09:10 AM #45
Ambassador
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Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Andrea - Peace of mind, happy clients, and closed houses.  These are important things.

Feb 17, 2012 10:59 AM #46
Rainmaker
680,642
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Ron: Thank you for adding another good point!

Richard: Absolutely, it is a wonderful feeling. Thank you!

Fooraq: Experience and expertise are at the top of the list but so are being trustworthy and a people person.

Than: I don't get the question often and try to answer it before it even comes up but occasionally people wonder ..

Family Abstract: The same goes for Title Co., home inspectors etc. I have a Title Co. who has been at the top of my list for 7 years, they've always followed through, solved every problem and are just the best at what they do. That's how you get on one's list.

Benjamin: Thank you! They are both fantastic loan officers with a great personality - they deserve some spotlight.

Kathleen: Thank you very much! "We get to close" - the most important reason of all!

Christine: In that sequence! Thank you!

Feb 17, 2012 11:43 AM #47
Ambassador
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Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Wow, how did I miss this one?!  Terrific post Andrea and so true.  The client may not get any monetary incentive by using your lender, but they most certainly do get something.  They get expert and personal serivice and get their lending needs taken care of.  

With buyers having a harder time ever trying to get qualified for a loan and then getting that loan all the way to the closing table, a great lender is paramount to their home buying experience!  Congrats on the feature!

Feb 24, 2012 08:43 AM #48
Rainmaker
680,642
Andrea Bedard
Thompson Company, REALTORS® - Silver Spring, MD
M.A.; REALTOR® Silver Spring, MD and beyond

Thanks Brenda! I still appreciate your visit & comment :-) I am much more comfortable if I know the buyer's lender will take great care of them - peace of mind really is invaluable, for the buyer and myself! I fully trust their opinion - if they say the client would be better off saving a bit more money, than I know that this is for their best. Too many times during the crazy years did I talk to some internet lenders who assured me the client is good to go but they were unable to answer specific questions or address concerns .. and sure enough when it was time, they couldn't qualify!

Feb 24, 2012 10:10 AM #49
Rainmaker
1,594,986
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

I get referrals and the satisfaction of knowing that YES means Yes and NO means No.

Feb 24, 2012 10:29 PM #50
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