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My Process of Working with a Buyer

By
Mortgage and Lending with Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 NMLS ID# 158606

In order for me to really impact homebuyers, I need to have a meticulous system for working through processes.  For me, it's incredibly succint, not over the top, but ridiculously over the top, otherwise it won't work.

I incubate buyers AND help them educate themselves.  I put them in Home Scouting Report.  It blows away MLS connect, realtor.com or any other online search engine for three reasons:

  • It's personal and secure,
  • Secondly, there is zero marketing to the buyer by realtors, or any other third party,
  • The technology BLOWS AWAY ANYTHING THAT I'VE EVER SCENE....EVER!!!  FOR A HOME BUYER

Then I go through My Three Step Process to get them where they need to be:

  1. Prequalification....  let's call it like it is....a bad pre-qualification is a major waste of evThe View From Success is Awesomeeryone else's time.  With a great pre-qualification....everyone's goals can be met;
  2. Trouble Shooting - Truth is that no one trouble shoots anymore.  If a client has issues, lenders say "get it fixed and we'll work with you once you do have it fixed.  No way....my largest referral source are through referrals.  I want partner with them.  It's sincere, it net results, clients appreciate it and it creaets more referrals.  What's to lose?
  3. Referring the Client to a Grade A Realtor -Just as there are a lot of schmucky lenders, I will say that there are a lot of schmucky realtors.  My pride is giving referrals to AWESOME realtors.  So far, year to date, I've given 17 contracts to realtors.   I have another buyer that I'm hoping to refer later this weekend.  It's critical.  Bad referral = bad things happening;
  4. From Contract To Close - We give pertinent updates to the borrower.  We give TUESDAY UPDATES to both the buying and the listing agent.  Simply amazing communication is what the realtors say.  They say that they have to chase down most mortgage companies.  We're proactive for two reasons.  First, it's good customer service....secondly...it eliminates inbound calls. 

Short, sweet, to the point, but it works!!!!  A lot of fun!!!!

 

 

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Comments(11)

Peggy Wester
Realty Executives Integrity - Grafton, WI
Real Estate Agent Ozaukee & Washington County

Sounds like a win-win for everyone, Larry. I can think of several lenders who could learn a thing or two from you!

Aug 04, 2012 06:31 AM
Tatyana Makarov
Century 21 All Points Realty - South Windsor, CT
Your Greater Hartford Area Realtor

I agree with you, Larry, it is important to know who you can trust and who can do an excellent job.

Aug 04, 2012 08:44 AM
Joe Kenny
Realty Executive Midwest - Darien, IL
Better Than Your Average Joe

Communication is key Larry and without it deals easily become unglued.  Great post, it's a good life.

Aug 04, 2012 08:59 AM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Larry, bad referral will mess up your reputation, the best REALTOR® will help you build your business. 

Aug 04, 2012 10:23 AM
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

You do it right, Bettag.  And the proof is in the proverbial pudding.

Aug 04, 2012 12:38 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Larry great approach to working with buyers.  Communication is key, I find myself chasing down the lenders for updates and my emails go unanswered. I am not a pain in the neck Realtor but I hate working with people who makes me feel a request for periodic update is a  intrusion. Could I clone you?...:)

Aug 04, 2012 03:05 PM
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

This sounds like a winning procedure Larry, one that you are very enthusiastic about!

Aug 04, 2012 05:50 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

There is no shortcut to doing things the right way. The list you put together in your post is excellant.

Aug 04, 2012 09:34 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You provide good service to your clients. Anyone looking for a mortgage should call you.

Aug 04, 2012 09:35 PM
Kim Boekholder Utah Real Estate/ PECO
Results Real Estate 801.580.5624 - Draper, UT
Broker Results Real Estate/Leasing Specialist PECO
Great information. You really perform at a high level. I hope the other lenders take your post and learn from it. King of communication and business relationships makes you who you are. Keep up the great work and happy Sunday
Aug 05, 2012 12:00 AM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

Larry does appear that you have a great system and the skills to use them. Good luck

Aug 10, 2012 02:17 PM