Lender · OH · Member since 2022 · 113 posts · 77 votes
Hey, all! I just wanted to ask the advice of mostly realtors on what you desire from a relationship with a lender? I have been able to initiate relationships but I want to continue to grow the relationships without coming across as business only or pushy. I'm sure it is as simple as just getting to know people over time but just wanted some insight from the other side! Thank you all!
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
4y
#1 Prequalified Leads.....don't come to us looking for us to feed you, we want you generating your own leads and connected them with us for the win.
#2 Bring us something unique. If you tell me you specialize in conventional loans...I'm not interested...everyone does that and probably 90% cheaper, faster, better than you....so bring me some loan that you're an expert in that no one else around us does.....DSCR, foreign buyers, down payment assistance, jumbo bridge, reverse purchase, non-warrantable condos or whatever it is you do different.
#3. Close on time every time. Do whatever you have to do to make that happen. Hire a bulldog processor, underwrite up front, don't do iffy people.
#4. Don't ever pull crap on us....like telling us the day of closing that the DTI doesn't work....or that on Day 31 you need a condo questionnaire, that's stuff you should know day 1, not day 31.
#5. Inform us somehow/someway of the milestones.....submitted to underwriting, due back Wednesday, appraisal ordered scheduled for Monday, appraisal made value, docs ordered, docs at title company, CD sent, CD signed.....make us look good and keep us in the loop so we can help you be successful.
That's probably not what you want to hear, but that's the reality of a new lender trying to get new business with experienced agents with a handful of lenders they already know like and trust.
#1 Prequalified Leads.....don't come to us looking for us to feed you, we want you generating your own leads and connected them with us for the win.
#2 Bring us something unique. If you tell me you specialize in conventional loans...I'm not interested...everyone does that and probably 90% cheaper, faster, better than you....so bring me some loan that you're an expert in that no one else around us does.....DSCR, foreign buyers, down payment assistance, jumbo bridge, reverse purchase, non-warrantable condos or whatever it is you do different.
#3. Close on time every time. Do whatever you have to do to make that happen. Hire a bulldog processor, underwrite up front, don't do iffy people.
#4. Don't ever pull crap on us....like telling us the day of closing that the DTI doesn't work....or that on Day 31 you need a condo questionnaire, that's stuff you should know day 1, not day 31.
#5. Inform us somehow/someway of the milestones.....submitted to underwriting, due back Wednesday, appraisal ordered scheduled for Monday, appraisal made value, docs ordered, docs at title company, CD sent, CD signed.....make us look good and keep us in the loop so we can help you be successful.
That's probably not what you want to hear, but that's the reality of a new lender trying to get new business with experienced agents with a handful of lenders they already know like and trust.