Many mortgage lenders find that developing a relationship while working with realtors and their leads, which ultimately can be extremely beneficial to their mortgage business. Yet, it’s not just enough to develop the relationship. You have to give the realtor a reason to want to continue working with you. To help you excel at this endeavor, we‘ve compiled a list of things that will help you when working with realtors:
- Bait and Switch. By and large, realtors really dislike when mortgage lenders bait-and-switch people by suggesting that they can obtain a certain interest rate or financial product that they can’t deliver on. Deceptive practices like these give the entire mortgage industry a bad name and are one of the most frequent complaints that working with realtors have. To stay in realtors’ good graces, avoid overpromising or suggesting that you can obtain a certain financial product for someone when that’s unlikely to be the case.
- Poor Communication. Don’t allow days to go by without returning a realtor’s call. This behavior seems to garner the most complaints from realtors. Instead, strive to always return calls within 24 hours. The sooner you can return a realtor’s call, the more likely it is that they’ll want to regularly refer clients to you.
- Unprofessionalism. Just as with a mortgage lender, a realtor’s reputation is important to their professional success. For this reason, realtors dislike when they refer a client to a mortgage lender who then makes them look bad by: not following up on the referral quickly, failing to take the time to address the client’s questions and concerns, or by misleading the client. Remember that when you receive a referral, it’s not just your reputation on the line but the realtor’s as well. As such, it’s important to hold yourself to a high degree of professionalism.