How do Realtors choose Loan Officers?

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Realtors and Loan Officers are welcome to give their experiences.I am a Loan Officer and would really like to know what I can do for Realtors to gain their business.
Realtors: If I don’t have a client for you, what else can I do for you that would initiate our relationship?
L/Os how did you initiate your relationships with current referral partners?

  1. Reply
    kathy s
    February 2, 2014 at 4:09 pm

    As a former Realtor I can tell you that I referred my clients to Loan Officers that had the best rates and also people who I knew were adept at getting things done. I worked with a few loan officers that dropped the ball, or that I had to constantly call to get information instead of them keeping the client or me informed. I chose not to work with them again if I could help it. Realtors have a fiduciary relationship with their clients to do what is in their best interests. Best rates are important, but also who will accomplish the task within the time frame and be easy for the clients to work with. Each situation is different. Also, fees vary a great deal from lender to lender and the client needs to be aware that the cost of doing business with one may be more than another, not just the interest rate on the mortgage or points.

    My offices got daily quotes from several lenders (easy to fax now) and we knew those lenders really wanted our business. I always tried to give my clients as much information about different lenders as I felt they needed to know – several of the best, but I never recommended a certain lender over the other.

    Visit Real Estate Offices and get to know the agents. We all tend to do business more with people we know, if we can. Make sure they know that you will really take care of their clients, tell them about any special programs your lending institution may have and assure them that you will always stay on top of things.
    That is all anyone can ask. I also had lenders that volunteered to give a class to clients that I was working with in order to inform them of current prices, trends, lending requirements. Some of the agents did this. It helped with first time buyers. Be creative, there’s a lot of competition out there.

  2. Reply
    what tha
    February 2, 2014 at 4:12 pm

    Realtors choose l.o.’s base on there preformance and keeping in touch with the clients. Actually caring about them is a good start, and returning phone calls. Dont over promise and just deliver the results. Dont lie we hate that.

  3. Reply
    February 2, 2014 at 4:48 pm

    It depends on the agent. A selling agent may choose a lender that is willing to provide open house assitance while a buyers agent may simply do business with a lender who refers leads to them as well.

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