Lender marketing efforts directed at real estate professionals mean nothing if the lenders cannot back up their advertised claims. Real estate professionals only want to work with lending partners with a proven track record whom they can trust to help clients get what they need to close on time.
Hereof, can a seller tell you what lender to use?
The seller has no right to dictate these terms
It is their home, they can dictate pretty much whatever they feel like (within legal limits of course). A seller can dicate that they will accept only cash offers. Heck, they could dictate they will only accept a sack of nickels if they really wanted to.
In respect to this, can Realtors recommend contractors?
A: The simple answer is “no,” the Realtor is not responsible for the work of a properly licensed contractor, or pest inspector for that matter. When a Realtor calls a licensed professional they are doing so only in their capacity as a representative of their client.
Do realtors and lenders work together?
Real estate agents and mortgage lenders work together to ensure the best possible outcome for their clients during the transaction. … Although in different professions, the agent and lender can assure the buyer a transaction with the same objective in mind; a transaction that will close and close on time.
Do Realtors get kickbacks from lenders?
Do Agents Receive Kickbacks? It’s against RESPA rules for agents to receive kickbacks for referrals to mortgage lenders. A lender can’t reward a real estate agent for sending business its way.
How do mortgage loan officers get business?
Connecting with your clients on social media platforms like Facebook, Twitter and LinkedIn affords you additional opportunities to promote your services as a trusted loan officer to these expansive networks of potential new clients. These are also great places to provide testimonials from satisfied clients, too.
How do you get realtors to use you as a lender?
How to Market to Realtors as a Loan Officer
- Marketing to Realtors is About Building Relationships. …
- Email Marketing is a Good Way to Stay in Touch. …
- Social Media Marketing Expands Everyone’s Reach. …
- Open Houses are an Opportunity to Meet Realtors Face to Face. …
- Co-Branded Marketing Makes THEM Look Good.
Is a loan officer the same as a mortgage broker?
When you’re shopping for a home loan, you may wonder about using a mortgage broker versus a loan officer. … A loan officer offers mortgage options only from the financial institution they work for, while a mortgage broker acts as a matchmaker between you and a number of different mortgage lenders.
What is a loan officer in real estate?
A loan officer—or mortgage broker—can help you make sound financial decisions and obtain a mortgage loan. A loan officer can guide you while comparing loan products from different lenders to ensure you’re getting the best rates and fair fees.
What questions should a Realtor ask a loan officer?
Here are the questions I would ask a loan originator, if I were a brand new Realtor.
- Do YOU have any personal or business relationship with any other part of the mortgage/real estate machine? …
- Are you co-marketing with another lender? …
- Who are some of the other Realtors you work with?
What questions should realtors ask lenders?
Ask these 10 questions below to get a sense of who’s right for you.
- What types of home loans do you offer? …
- What type of mortgage is best for me? …
- What are your closing costs? …
- How much time do you need to complete a mortgage? …
- Do you do underwriting in-house? …
- What documents do I need?
Why do realtors want you to use their lender?
Some agents choose their preferred lenders because they get deals closed quickly and reliably. That’s also good for buyers, but the missing element in this equation is the loan cost. The in-house lender may feel that they have you “buttoned up” as a customer. They may feel they no competition for your business.