The real estate agent/loan officer relationship is one of extreme importance. They rely on each other for business and must work together collegially to ensure their clients have the best experience possible when it comes to buying a home.
“Forming strong business relationships takes time and effort on your part, but these relationships can make a world of difference in your performance and success,” wrote Westborough, Mass., real estate agent Bill Gassett in “4 Ways a Loan Officer Can Work Better with Real Estate Agents.” The MCIG-Connects.com article provided four tips to loan officers on how to improve their relationship with real estate agents.
1. Teamwork is necessary — Gassett acknowledged that there might be some team members you don’t like working with, but there will also be many who make it easier for you to succeed. “Real estate agents ultimately want to make their clients happy, and they will gladly push business your way if they know that you are there to help them do that,” he wrote.
2. Be accountable — You must be accountable if you want to attract the best real estate agents, especially those who can make a huge difference in your loan volume, according to Gassett. “Any chance to reduce uncertainty is beneficial to the agents you work with.”
3. Create a communication system — Real estate agents and their clients want news from you, and the longer you go without communicating, the harder it becomes for the agent. “If you have a system in place for communicating with real estate agents, and you make this system known to the agents you work with (and follow through with what you say), you will stand miles above the majority of loan officers,” Gassett wrote. “When you stand out, referrals come to you, and with those referrals an increase in your loan volume.”
4. Communicate via social media to help each other — Gassett stresses the mutual use of social media to communicate more effectively. “Real estate agents and loan officers who engage with each other on social media create opportunities for both parties to be more successful, for example, by mutually sharing content that is beneficial to one another.”
How do you maintain a healthy relationship with loan officers? Let us know!