The best Realtors know a thing or two about the importance of building relationships with mortgage brokers who can help close a real estate transaction on time.
After all, closing deals are hard work— and doing it with mortgage consultants who are proven and experienced make life a lot easier for a Realtor to ABC…“Always Be Closing”. You know it’s not just about getting deals closed with just any mortgage consultant, it’s about getting more done in the least amount of time with the right mortgage professional. The ultimate goal is for your buyer to walk away happy and satisfied with their buying experience.
So why is it so important for you to build relationships with the right fit mortgage lender. The #1 reason is TIME…
TIME IS OF ESSENCE
It is vital to a Realtor’s business to partner with a reputable mortgage company that understands the importance of time. Let’s go through the benefits of selecting the right lender to work on your team:
- Thorough Pre-Approval Process Saves Time – It’s critical to collect all buyer requirements for an application upfront. It creates a smoother, quicker contract to close loan process. The right lender will take the upfront time to go through the whole process of pre-approving a buyer so that once approved, all they need to do is shop for a house.
- Meeting Deadlines – There are deadlines on a real estate contract that need to be met such as the mortgage loan application (usually within 5 days), loan approval period (approx. 30 days or less), and closing date.
- Availability – Your mortgage lender also needs to be accessible when you need them. They should have the ability to work weekends, through holidays, and the buyers’ daily schedule.
- Communication is key – It has to be consistent and frequent between the borrower, underwriter, title company, insurance company, and Realtor. Everyone needs to be on the same page because one mishap can change the whole dynamic of the real estate transaction.
- More Productivity – Teaming up with a proven mortgage firm also helps a buyers’ agent save time to be more productive and take on more customers. More time = more money!! Who doesn’t like more money????
To sum it all up, deals can go south easily with the wrong mortgage lender who doesn’t value the importance of time in a real estate deal. You want your buyer to have the best experience possible during this emotional journey of making a major purchase.
As a Realtor, you have to ask yourself how productive and successful you want to be. In order to accomplish your goals, you need to surround yourself with the right team, especially your mortgage lender who is central part of your team.