Answer to Keiya
Keiya said...
Hi Ameen,
I have been in the industry only 9 months. I don't like working with realtors much because they are overly interested in my fees. The majority of my market is sub-prime so I don't have the opportunity to work with A credit which makes it difficult to secure loans with low interest rates as well. I have had several realtors "take" customers to other mortgage companies. Case in point, how do I work with realtors and not have to be concerned with them taking a referral I have given them to some one else?
Keiya,
Why don't you do A paper as well? It's easy to do. And if you don't, you are tying one hand behind your back. You don't have to spend money marketing for it, but you should be able to do it.
And if you can't, then the realtors will take the loans to places that can.
If you give a realtor a lead, you should make it clear to bring that loan to you, or you will not be giving them any more leads. Whoever has the lead makes the rules. But you have to deliver.
If you have the leads, you just need to find a realtor willing to send you all his leads in exchange for yours. It should be a two way street. If anyone took a lead of mine to another mortgage company, there would be hell to pay.
There are 1.2 million realtors out there. Find the ones that will work with you, not against you.
posted by Ameen Kamadia @ 1:00 PM
1 comments
1 Comments:
Another answer to Keiya ..... (From Anonymous 15yr + Processor/Closer)
When working with realtors .... When Ameen states you have to deliver...you really should be "ready deliver" ....with follow thru with both the realtor and your borrower.... you can not!! I repeat can not!! let anything fall through the cracks .....you are starting a new realationship with both parties and will have to have GREAT CUSTOMER SERVICE ....GREAT FOLLOW UP AND FOLLOW THRU ..... The borrower is purchasing a home and the realtor is trying to get thier money and that borrowers future referrals the same as you should be .....make sure that who ever is processing your loan has all thier i's dotted also along with all other parties that are dealing with the transaction (s) ... so that this will not cause problem for the borrower or the realtor.....I would suggest also you find out where the they (the Realtors) go for any monthly meetings, mixers, chamber of commerence meetings and get to know them away from the office etc. I recently went with a Loan Officer that I do loans with to a lumch that He hosted for realtors to gain their business and trust .....By bring me along they also got to learn who and how I was going to help in getting the loan clsed and bring my part of good cust service to the table.
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