Who Should I Contact First? A Franklin TN REALTOR® or a Lender?

By
Real Estate Broker/Owner with Franklin Homes Realty LLC

Who Should I Contact First? A Franklin TN REALTOR® or a Lender?Many buyers begin their home search months, possibly years ahead of time. The internet has made it easy for you to search for Franklin TN homes for sale without ever leaving your home. However, there's a lot of confusion about when the actual viewing of homes should begin. 

Who should I contact first? A Franklin TN REALTOR® or a lender?

It depends.

If you already have an established relationship with a trusted real estate agent and you don't know a lender, then contact the agent first. This real estate agent should have a preferred lender who has successfully gotten their buyers to the closing table. The agent will have insight into the best and the worst lenders in the area. After all, they may come in contact with hundreds of lenders each year. They know who can get the job done.

If you have an established relationship with a lender and don't know an agent, contact the lender first. Just like the real estate agent was able to direct you to a lender, a lender will be able to direct you to a real estate professional. They work with agents day in and day out. They also know the agents who have been most successful in getting their clients to the closing table.

There is one caveat. Don't necessarily expect that the agent will take you out before you have spoken with a lender. Instead, meet with an agent for a Buyer's Consultation. During that time, he/she will share the benefits of being pre-approved prior to seeing homes and give you the contact information for their preferred lender.

Who Should I Contact First? A Franklin TN REALTOR® or a Lender?We always want our buyers to be in a position of power when making an offer on a house. The pre-approval letter gives us a clear advantage when writing an offer. Especially, if that house receives multiple offers. That pre-approval is very necessary in our current market. Some sellers may not even consider your offer without an accompanying pre-approval letter.

Who should I contact first? A Franklin TN REALTOR® or a lender? Whoever you already know and trust.

When you are ready to buy, contact Franklin Homes Realty LLC at (615) 495-0752. We have an excellent lender who can help you determine your buying power.

Posted by
Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.
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Rainmaker
1,143,971
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Hey Tammie,

I dont think it really matters which comes first BUT if you have any challenges on credit then my advice is a lender who can do that first.

May 03, 2015 10:51 AM #1
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Agent or Lender first.....just so the agents are Tammie and Tom White.

May 03, 2015 10:55 AM #2
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tammie White - great post for consumers. This will guide them to do the right thing (and contact a real estate agent.)

May 03, 2015 04:25 PM #3
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

David - A good lender can help advise on these issues.

Roger - Thanks.

Praful - If they contact us, we can guide them in the right direction.

May 04, 2015 12:23 AM #4
Rainmaker
1,258,746
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Stellar advice, Tammie White.   It depends on so many things.  Do they have a good relationship forged with either?  What step in the process are they?  Are they first-time buyers?  New to the area?  Have credit issues or low credit scores?  Have they not even established credit?  The answer to these questions will lead them in the right and best direction ...

Gene 

May 05, 2015 06:51 AM #5
Rainmaker
626,650
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

I like your answer.

We're all clear however, the buyer can't proceed without having spoken to both (except in the case where the buyer has all cash, not very typical)

May 05, 2015 12:35 PM #6
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Gene - In the case where they don't know either, it's probably better for them to contact a real estate agent who can direct them to a good lender.

Claude - A cash buyer still needs an agent.

May 05, 2015 01:25 PM #7
Rainmaker
626,650
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Tammie, you are correct.  English failed me.  "A cash buyer can proceed without having spoken to both", but that sure doesn't mean a cash buyer should proceed without speaking to either ! I should have said "A cash buyer can proceed without speaking to the lender."

May 06, 2015 01:59 PM #8
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Franklin TN Homes for Sale
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