Rainmaker, Team Leader - The buck stops here or does it?

By
Real Estate Agent with KB Home Bre # 01424127

Rainmaker, Team Leader - The buck stops here or does it?rain, leaf

The rainmaker, team leader and the buck stops here are euphemisms used to describe the role of the Realtor in a transaction; the person who makes business happen, who brings deals to the table, who generates leads. Ultimately the person held most accountable by the client.

In the world of real estate a team consists of many moving parts. The lender, title rep, escrow officer, inspectors, etc. are all required to move a real estate transaction through the process to closing. Often Realtors promise a smooth transaction (in my opinion a BIG mistake!) Real estate transactions today are often rife with stumbling blocks from repair requests to loan conditions.

Traditionally the team leader, ie Realtor, is responsible for the transaction particularly in the eyes of the clients. And as such we accept the responsibility. However after every transaction I reflect on the success and challenges. Today's challenge was a doozy.

Transaction is a nutshell: I meet the buyer who has been working with a lender. The lender is from a reputable bank (no red flags there.) We locate a property. I contact the lender, introduce myself and assure him I am pleased to work with him to make OUR client happy. I go over all of the pertinent questions; how long to close, cap for the interest rate and date for contingency removal.

(No this is not a bash the lender post!)money

Trouble results as deadlines past and the closing is two weeks late due to missteps by the lender. Throughout the transaction I do not hang the lender out to dry. As a team we (I) attempt to correct the course of the transaction as I reassure the buyer. Finally all is resolved and the lender contributes to the buyers closing costs.

I received a grateful email from the buyer after they signed loan documents, but guess what? The loan officer is included on the same email and we both are congratulated on our hard work, diligent efforts and invited to the house warming party.

Here is my question - I accepted responsibity yet if a team member is not performing should this be brought to the clients attention?

The Rainmaker, Team Leader - The buck stops here or does it?

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Comments (3)

Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

WOW! That's a tough question. I believe in giving credit where credit is due, but was that credit worthy? It doesn't sound like it to me. But you can't disparage either! 

First of all, I would like to say, welcome to ActiveRain! Second, if Roy Kelley or Lise Howe have any comments, I'd love to hear what they have to say. 

Jul 18, 2016 03:23 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

There is no need to comment on the loan officer after settlement. Team members do sometimes make errors.

Jul 18, 2016 09:25 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Good morning - I think you should move on - the deal is closed and you got paid. If another agent in the future brings you an offer with that lender, you might ask the agent to have the buyer talk to more than one lender to avoid having the same issues on the next property. 

Jul 18, 2016 09:52 PM