Real estate agents may have the opportunity of obtaining a cash buyer from time to time, but in most cases homebuyers will require a mortgage. As a loan officer, it is important to build a trusted, long-term relationships with agents to keep the volume up. This means it is necessary for loan officers to build relationships with realtors to the best of their abilities. Forming these relationships in business takes time and effort, but the outcome can make a significant difference in the success rate. Here are some useful tips to not only build a foundation but to improve interactions among real estate agents by helping loan officers and real estate agents stand out from the competition.
Communication plays a significant role in forming a strong relationship among the loan officer and the real estate agent. It is important to be able to provide reliable facts to both the clients and Realtor. If a real estate agent is not accurate about a loan, the potential amount of time lost during the pre-approval process could be drastic. This not only keeps the deal from closing but can potentially have a damaging effect on the relationship between the loan officer, Realtor and client. One of the most useful opportunities for a loan officer to work closer with a real estate agent is to remember that you are both on the same team. The goal of a real estate agent is to please their clients. In doing so, they’ll promote business to you if they see you are eager to help them achieve this goal.
Today, there are advanced forms of technology available that enhance the communication experience among loan officers and real estate agent. These features include the sharing of realtor pages that interact with loan officer pages. This enables leveraging to the realtor sites that fully interact and have the capability to share data together. Social media platforms are also becoming the ‘norm’ and almost required to build business relationships. Today, one of the best things both real estate agents and loan officers can do to communicate more effectively and expand their brands is to have a presence on social media. By using these platforms, businesses can not only stay connected but also use each other for support. One key feature of social media is the ability to be able to share content. This tool is useful in not only branding your business but in building relationships among clients. Today, thousands of people are using social media to stay in contact in their industry. Social media is a great place to enhance and nurture relationships among others in your field.
There is no question that forming a strong relationship among both the loan officer and the Realtor ensures a higher success and performance rate among existing and future clients. Building a relationship amongst a loan officer and a real estate agent is fundamental in the mortgage industry. What we can agree on, is that everyone has the same goal to close the loan and the best way to do this is to improve communication between loan officers and real estate agents. Loan officers and Realtors need to come together as a team to guarantee success.