In the residential real estate business, agents are on the front lines – serving as formal representatives, providing advice, recommending other service providers, and much more.
Whether you are a real estate agent or a builder’s site agent or other service provider, your clients are likely to ask for guidance about mortgage financing. This is especially true if you work with first-time buyers who often have questions and concerns about getting a home loan.
What should you tell your clients when they ask about choosing a mortgage lender? In today’s mortgage marketplace, two criteria should be at the top of your list: Timely Loan Closings and Superior Customer Service.
Track Record of Timely Loan Closings
The lender you recommend to your clients should demonstrate a track record of timely loan closings.
Information about on-time loan closings is particularly important now that the “Know Before You Owe” regulations, also known as TRID, are in effect.
Your past experience is one good indicator of a lender’s commitment to on-time closings. But, be aware that lenders of all sizes, and with excellent reputations, may have faced challenges transitioning to the new regulations. So, have a conversation with Mortgage Loan Originators who you’ve relied on in the past. Ask about their experiences during the transition to TRID, and request specifics.
A smooth transaction that closes on time is best for all concerned – buyers, sellers, agents and lenders. And, timely closings go hand-in-hand with customer-centric service, which is the second item on the list for choosing a lender.
Superior Customer Service
Nearly all lenders of reasonable size offer a menu of similar loan products, and your clients can make calls or go online to research financing and learn about options. But, your clients deserve more than that!
You want to refer your clients to Mortgage Loan Originators who go the extra mile and deliver superior customer service. Your home buyers deserve someone who will:
- Review personal finances and home financing goals
- Educate clients about the home buying and mortgage loan process, including preparing the documentation required during the application process
- Identify the options that best fit the buyers’ unique circumstances, and answer questions about the choosing from among the options available
A Mortgage Loan Originator worthy of your referrals builds relationships with home buyers. They are approachable, responsive, and most of all – they are committed to doing what’s right for the client. Superior customer service really boils down to just that.
Choose the Best
Remember, success is built on trust. Be diligent about your choice of referral partners. By focusing on timely loan closing and superior customer service when choosing lenders, you can ensure that your name and reputation are associated with the best.
At Gibraltar Mortgage Services, helping our customers and our business partners to succeed is part of our way of life.
Dec 22, 2015