How a Mortgage Originator Should Work With Realtors

Communicate

Communication should be a top priority between mortgage originators and Realtors. Both professionals are working toward a common goal that enables homebuyers to complete the closing of escrow with as few problems as possible. A mortgage originator who does not respond to phone calls or voice mail messages from Realtors could jeopardize her ability to continue a working relationship with certain Realtors. When working with Realtors, a mortgage originator should provide several methods of contact, such as a main company phone number, cell phone number and an email address.

Mortgage originators should provide status reports when working with Realtors. A weekly update can inform Realtors of the homebuyer's mortgage approval status. Sending an email message that displays the progression of a homebuyer's loan status could strengthen the relationship between the mortgage originator and the Realtor. A well-informed Realtor can explain a homebuyer's loan approval status to real estate agents who are involved in the selling process. A mortgage originator who takes a few minutes each week to prepare status reports for Realtors might enhance her credibility and professionalism.

Ethics are essential to working with Realtors. A mortgage originator may be initially selected based on trust or the reputation of her lending institution. However, honesty and a professional commitment toward helping homebuyers may determine if a mortgage originator works long-term with certain Realtors. Mortgage originators should work to provide fair housing and credit decisions for all Realtor-referred homebuyers. Reasonable pricing and fees should be offered to homebuyers who are Realtor-referred. Exemplary services and care for homebuyers could build your relationship with Realtors.

Using some basic considerations, such as promptly returning phone calls and keeping Realtors up-to-date on a homebuyer's loan progress, may improve your relationship with Realtors. If you maintain a Realtor's trust and confidence in your abilities, additional referrals might develop. Your work ethic could lead to opportunities that enable you to work with more Realtors.