Why Does Your Realtor Have A Preferred Lender And Other Vendors?

Up and coming provide it better little red hens... make sure not to make it the good old boys (or gals) triangle that is no longer the best tool in the shed to reach for during real estate sales. You also alienate by only using the same bank, the saw closing agent, etc. Have more than one that do good work and be ready to add more to the stable. Like mentors, have more than one. And so if one dies. 

I also provide some contact suggestions that I think will be a good match, but also tell them that they can choose whoever they want. Some buyers are just stuck on choosing and using lender of their choice.

Robin, you are spot on with this post! I know my real estate partners very well and they know me and how I prefer to know what is going on at every turn. You can't beat a great relationship!

Good Morning:  I think its always good to work people that you know and trust!!  Keep up the good work and good luck with your sales,  E

Good Morning:  I think its always good to work people that you know and trust!!  Keep up the good work and good luck with your sales,  E

It's a win win situation when you work with those you trust and know will get the job done and done right.  

The refinance market has dried up, due to increased interest rates, so lots of Loan Officers are looking for Realtors.

It's easier for agents and to have preferred lenders and vendors and have those relationships in place.  It's an added value we can offer clients for one stop shopping.  However, we also ought to encourage clients to shop around for offers if they so choose.

I agree. Using a trusted lender can certainly make a transaction go easier. Have had lots of issue with internet lenders.

I have had buyers on my listing use inexperienced lenders because they were a friend and invariably it ends up bad for all parties involved.  I really feel those on my preferred list will go the extra mile to make sure things go smoothly, and if there is a problem, we know it up front.

Robin,

You are right. We refer people we know we can trust to get the job done. I have preferred attorneys and lenders and if one fails to live up to the standards they are off the list.

Robin, our preferred vendors are very important and have been vetted before they make it to our 'Preferred Vendor' list...it is important to know who is doing the service required...thank you for the blog...

     I have my own "List" of Lenders, Vendors, Repairmen, etc.  

    But my Attorney, and my Board's Attorney, advise that I not "direct" a Client, Customer, Buyer or Seller to a particular Lender or Vendor... to avoid Legal Liability.

Absolutely, when I don't know the lendor or whomever, I feel I don't have control.

I am starting my Lender list now. New and just working with my first clients. Hopefully my transaction will go smoothly.

Hi Robin -  that was easy... people sometimes think we have a different reason for using 'good' people... just not the case!