I was at an event the other day and I heard one realtor talking to another realtor about a particular local lender. The one realtor said that lender's suck. I went on minding my own business. The other realtors knew that I am lender and serve people within their office, but they didn't know that I was standing within earshot of a not to private conversation. Later when one of the two realtors ran into me they were as nice as pie. She shared her wo's about the particular lender and asked me my thoughts. I gave my two cents and she seemed impressed and then went on to say that I'm one of the best of the best. I thought to myself that either she's the world's biggest hypocrite, or perhaps she was just venting over the way that the particular lender had treated her and her client. I was careful not to judge. Maybe she was being nice to my face. Maybe she was embarrassed thinking that she may have been overheard. I really think that she thought that she was having a private conversation, but that's unlikely in the middle of a title company during a closing. The bottom line in their communication was that lenders suck.
Do we really need lenders? There are sites now telling realtors that they can be the lender on their own deal. I can tell you that the most successful realtors, the ones that are tearing it up, have a realtor partner that they trust implicitly. A competent lender does a myriad of things, but the qualities that will help a good realtor to become great are:
1) Do they want to build me up. I'm not talking about coop advertising....I'm talking about do they care enough about me that they'll invest in me as a person. The great lenders buy their partners life changing or motivational books to help keep each other accountable for greatness.
2) Does your lender fully disclose to your borrowers, educate them and fully realize that all of the business of the future is built upon the investment of their clients today? It's not about low rates, it's about the best program for each client with a fair rate attached. The lender needs to be vested into creating leads from the current clientele.
3) Can they walk towards the cannon fire? Don't you hate a lender that hides. They're happy to receive your referral, but can't communicate if something goes awry. Lenders who can walk towards the cannon fire are lenders you can trust. They're up front honest and truthful.
4) They educate. That's it. That's the bottom line. I just received a comment from my blog this morning and Matt Grohe CRS, GRI, ABR: said "Larry: This helped to get one buyer off the fence and to a lender for me today. Next step, buying something." Don't think that I'm not aware that knowlege is power.
5) The bottom line is "do they care." We can cross refer all we want, but if my realtor partner doesn't care about me, I'm transactional and not relational. Relational is a system built on trust and mutual investment in the welfare of the other.
I have title companies, appraisers and wholesalers offering to buy me this, lunch that, take me here, but I'm not interested. People who are invested in me I will shine for all day long. If you want to schmooze me, challenge me and show me that you believe that I'm capable of great things. Then, you have me for life.
For realtors to become great, they need great partners and great accountability. Most realtors have been disappointed and let down by lenders who promise the world and deliver a grapefruit. But, if you're going to be a great realtor with a great career in this business, then you need to partner with someone who is growth oriented and like minded. 
There's a lot of business to be had out there. Life is too short not to enjoy it. Work with someone who is likeminded. Flush them out. They're out there. They may be rare to find, but if you want to be the best of the best, then partner with someone who is just that. So which is it? Do lenders suck or are people just partnering with the wrong lender. A great lender will help a good realtor become a great one.
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