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Ambassador
2,093,912
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 

   Great way to alienate the entire mortgage lending industry.  And, savvy consumers don't like having documents like that shoved in their face.

    Frank and Brian are a hoot...  I haven't listened to them in a long time.  Thanks for the link.

 

Apr 10, 2018 02:24 PM
Rainmaker
96,359
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

I pledged to remain positive with my posts for the rest of the week. So I will say that I am POSITIVE that I would not be happy if my broker required me to present something like this to my clients. I am also POSITIVE I would do what is best for the client. I am an independent contractor and prefer to remain an independent contractor.

Apr 10, 2018 06:32 PM
Rainmaker
118,253
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

If I were mortgage broker or title company, I would run from their agents and certainly not send them referrals. 

Apr 10, 2018 05:49 PM
Rainmaker
2,597,832
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Among the many reasons I am not a fan of KW.  

I am not a fan of cool aid either. 

Apr 10, 2018 04:24 PM
Rainmaker
1,080,903
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I remember them unveiling this at the reunion last month (no I wasn't there, I just read reports).  Wouldn't surprise me and they wouldn't be the first company to do that.  We have a few out here that push their lenders, escrow and title on their clients.

Apr 10, 2018 03:00 PM
Rainmaker
1,356,776
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I'm not kw agent anymore, but I was with them a bit, you encouraged to use in-house vendors. 

Apr 10, 2018 02:49 PM
Rainer
156,705
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

We have a company here that has all of their products bundled in house. I can't say they are a requirement, but they are encouraged to use the in house vendor I believe.

Apr 10, 2018 05:48 PM
Rainmaker
540,078
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

No: is the answer to your question.

If you watch the video, be sure to watch all the way through to the part where they strongly suggest that you join the broker of their choice.

Brian and Frank seem to be more than a little bit afraid of some competition in their mortgage business.

Apr 10, 2018 02:38 PM
Rainmaker
4,320,377
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

most buyers have their own contacts for financing.... and if they don't, they like more than one name and institution....I hate in-house financing sources.... it's a turn off....

Apr 10, 2018 02:29 PM
Rainmaker
670,494
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

John, you must understand, it's all just a part of their cult-ure! Just having fun, many genuinely great KW agents out there!

Apr 10, 2018 02:26 PM
Rainmaker
2,898,840
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

I'm not a KW agent but the concept doesn't surprise me.

Apr 10, 2018 02:06 PM
Rainmaker
816,880
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Seems like ever since KW founder Gary Keller, "predicted" the demise of the brick & mortar, they've decided to bolster up in other ways. 

Apr 10, 2018 02:02 PM
Rainmaker
3,624,650
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I for one would not work for a company that restricts my business!!!!!!

Apr 10, 2018 09:08 PM
Ambassador
2,589,894
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

If I was made to complete that on my clients, I would be moving my license to another brokerage faster than your mother can unbutton her overalls!

Apr 10, 2018 08:07 PM
Ambassador
3,723,844
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

If my brokerage tried to tell me where to send my buyers for financing, I would be looking for a new company and probably hang my own shingle.

Apr 10, 2018 06:51 PM
Rainmaker
636,886
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I am not a KW agent. 

Apr 10, 2018 03:00 PM
Rainmaker
2,689,455
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

The cost of money is the cost of money. How they collect it is their business. I am not a big fan of in house mortgage companies. Everybody thinks their model is the best! The question is not drinking the Kool Aid, its which flavor you drink!

Apr 10, 2018 02:11 PM
Rainmaker
41,313
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

No.  I have heard about this, but would never use it. I refuse to use any affiliated businesses. How is that working in the best interest of my client 

Apr 11, 2018 05:40 AM
Rainmaker
2,964,553
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Bob Crane nailed this one!

Apr 11, 2018 05:12 AM
Rainmaker
2,444,681
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

And one more reason I refuse to associate myself with companies that try to "force" me to use their "preferred" vendors be they lenders, inspectors, etc.

My brokerage has an in-house lender, a title company, an insurance company... they never require us to use any in-house resources. They appreciate if we present them to our clients, but there's no pressure. We have other brokerage in town (big names) who call their agents on the carpet if in-house resources did not provide the service. I'm always amazed that agents let them do that.

Apr 11, 2018 04:59 AM
Rainmaker
320,640
Lynda White
Bluegrass Homes & Farms Realty, Agent Know How - Louisville, KY
Admin. Mgr., Keller Williams Realty

Thank you for providing this link. I find the comments very interesting too. 

Apr 11, 2018 04:43 AM
Rainmaker
1,191,517
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I don't know, but wouldn't be surprised. They aren't the only large real estate firm with it's own mortgage broker that agents are encouraged to recommend.

Apr 11, 2018 03:19 AM
Ambassador
3,444,491
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

It is not available in all states

Apr 10, 2018 08:39 PM
Rainmaker
196,855
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Not a Kool Aid Drinker

Apr 10, 2018 07:39 PM
Rainmaker
3,779,726
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John, 

What? 

Apr 10, 2018 02:04 PM
Rainer
82,234
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

"Thou doth protest too much"! Instead of denigrating the competition how about putting your NOSE to the grindstone and make more loans.  In another post you go after a company for being "disruptive". Get over it buddy! As a Realtor licensed since 1978 I can't tell you how many companies have tried to place THEIR lender between me and a buyer. I was with Merrill Lynch over 30 years ago--what do you think THEY wanted us to do? Every major company has or had an in-house lender. I'm NOT required to fill out any form before I meet with a buyer. Just give me a "pre-approval" letter and I'm good to go. KW has many new agents and is a recruiting machine. It's looking at the bottom line. I'm a 11 year KW Realtor, an investor in my market center and have a profit share tree which some months gives me a nice check. I don't slam your company so lay off KW! 

Apr 11, 2018 06:22 PM
Rainer
18,258
Andrea Moore
The Mortgage Market of Delaware - Lewes, DE

Do they really think brokers charge that much?

Apr 11, 2018 08:36 AM
Rainmaker
660,573
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Every large brokerage pushes you to use in house lenders, title and insurance, that is where they make their money, it definitely is not from real estate brokerage. But as independant agents you can offer your clients options and let them make the decision. 

Apr 11, 2018 08:24 AM
Rainmaker
659,551
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

KW has the integrity of a MLM company and they have not backed off the 'multi-streams of income' philosophy. You can see the KW mindset at work by observing the ownership of Active Rain.

And if one has drank the Kool Aid, then its all good.

CB has been PUSHING preferred lenders for two decades now.

Apr 11, 2018 05:19 AM
Rainmaker
4,051,791
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for sharing 

Apr 11, 2018 04:39 AM
Rainmaker
861,921
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

wow

 

Apr 10, 2018 07:20 PM
Rainmaker
430,353
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality

hmm lets see we aren't supposed to badly of other brokers or realtors so... guess I have nothing to say 

Apr 16, 2018 04:43 PM
Rainmaker
618,684
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

Absolutely NOT!  

Apr 16, 2018 01:17 PM
Rainmaker
3,574,229
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

The link did not work, so not sure.

Apr 14, 2018 03:04 PM
Ambassador
4,069,439
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Meussner - if this is true, glad I am on another ship.

Apr 11, 2018 10:51 PM
Rainmaker
295,601
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I have always believed the agent should refer buyers to several mortgage lenders who have performed well for the agent in the past and let the buyers make up their own mind. 

Apr 11, 2018 02:17 PM
Rainmaker
411,746
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

Any lender can structure a loan with no additional origination fees, processing fees, underwriting fees and work in a lender credit of $1000.

   

Apr 11, 2018 08:54 AM
Rainmaker
4,654,686
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I am not a KW agent.

Apr 11, 2018 08:25 AM
Rainer
353,265
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

First time seeing this.  hmmm

Apr 11, 2018 06:55 AM
Rainmaker
4,313,592
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Oh oh!

Apr 11, 2018 06:34 AM
Rainmaker
931,304
Corinne Guest
Barrington Realty Company - Barrington, IL
The Choice of Professionals for Luxury Home Buying

Sad, another reason I can blow off the recruiting calls which are getting to be as annoying. I just do not like what KW stands for.

Apr 11, 2018 06:18 AM
Rainmaker
2,668,371
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

At a recent listing appointment, the seller told me of local agents offering this and how much they hated it. Consumers are becoming savy again looking for service over other things

Apr 11, 2018 06:00 AM
Rainmaker
2,485,902
Richard Weeks
Dallas, TX
REALTOR®, Broker

Unless I beleaved in that lender I would not think of recommending.

Apr 11, 2018 05:27 AM