Realtors – How Do YOU Communicate With Your Referring Agent?

Realtors, do you LIKE receiving referrals from out of area agents? Do you consider this a good source of business, or do these clients play second fiddle to your own repeat and referral business?

Although my mortgage company has been in Southern Oregon since 2004, I've worked in mortgage lending since 1983, with an overlap for several years when I wore my real estate broker's hat (whole different topic, working "both ends of the stick", which I'll save for another article...or 10!), and 6 years "sabbatical" when I became an escrow officer so I could better grasp the closing end of the biz and round out my experience.

Since relocating to Ashland, Oregon, I've been referring out the many Southern California clients I represented when they purchased their homes. I've been referring out their listings, referring out their purchase transactions, although for a few long-standing clients I did continue to fly in to work with them when they wanted to sell their home and buy another, some times co-listing with a local agent (another separate topic, that could warrant several articles of its own).

I've now referred out roughly 20 clients for multiple transactions - selling, buying, and financing. Some of these folks I've known for more than 20 years, and they're like family. I remain personally involved in these transactions, even though I've referred them out. Admittedly, I lean toward the "Type A" personality when it comes to follow up on my transactions - even the transactions I refer out. I expect to be included in the communication circle from beginning to end, and my clients expect the same.

Is asking this of the Realtor and/or Loan Officer who accepts my referral asking too much?

Do you expect your referring agents to disappear in to the background, and just wait for the referral fee to arrive?

Are my expectations too high when the referrals are too a rural area where life flows at a slower pace?

Please help me understand your expectations.

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com