Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Realtors Give Mortgage Referrals for a Reason - Customer Service

Realtors Give Mortgage Referrals for a Reason - Customer Service

As a Realtor, do you refer your buyers to mortgage professionals that you have worked with in the past, and have had a good experience with? I always try to refer my Austin TX home buyers. Some times, the buyers feel they want to go another direction, and I can't control that. It's their home purchase, and it's their decision. I'm just there to help give them options...

austin tx home buyersBut when financing is the hold up for your buyer's closing, do you say "I told you so?" or "You should have used my guy?"

I had a closing last week where this came up.  He was initially pre-approved with a mortgage company, and I didn't try to take him away from that company at all as I've worked with that company in the past. When he started talking with me about some issues, I suggested he call one of my other guys to compare things, which he did. He thought my other guy was great... and a couple of weeks later, I found he decided to start making other calls, to which he decided to use this other company because of many promises made.  Ironically, I had closed many deals in the past with this other company as well, and there was a reason that I no longer referred them to my Austin TX homes buyers.

We ended up closing a week late. The buyer kept apologizing to me for not using my guy and how he wished he used my guy and so on.  Of course, I was thinking, "Yes, you should have used my guy, I told ya so!" But instead, I told him not to blame himself. I reminded him that he made a decision based on information he was given, and he had no way of knowing the information was inaccurate.  He came to closing with more money than he was initially told. His rate was higher than he was initially told. He did sign the documents and close on the home because he just wanted it to be over with.

I write this to say to all buyers out there, just because your agent gives you a referral, it doesn't mean you have to use that person. However, you should ask yourself why the referral was given and what type of experience your agent has had with the person.  Customer service is a huge part of real estate. You don't want to be just a number, and when you use a Jack in the Box mortgage person, they might think you're just a number whereas someone who works personally with your agent wants repeat business and will probably treat you with a little more courtesy.

My buyer moved in last week, and is happy to own a home for his first time since the early 80's.

 

**Are You Packed Yet?**

donna harris Realtor Austin TX blog

Donna Harris, REALTOR®
RE/MAX Austin Skyline
www.DonnaHomes.com

Donna@DonnaHomes.com
austin-texas-homes-for-sale.com

Austin TX Real Estateand the surrounding areas of Lakeway, Bee Cave, West Lake Hills, CedarPark, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way. 

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Copyright© 2012 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
*
Realtors Give Mortgage Referrals for a Reason - Customer Service * was first published on donnahomesblog.com.

 

 

Comment balloon 12 commentsDonna Harris • February 08 2012 12:02PM

Comments

Donna, great article.  Yes, we all like to use our lenders that get the job done on time, and work the borrower up front with all the docs first before showing any property!  The lenders have to be on board with how we conduct business, too.

Posted by Dan Hopper, Denver Realtor / Author / Advocate/Short Sale (Keller Williams Realty Downtown LLC) almost 7 years ago

I always refer buyers to mortgage personnel that I know will "communicate adequately" and usually "get the job done".  It makcan be very difficult when they want to use a broker who is out of state and unfamiliar with local laws and customs.  Thanks for the post.

Posted by Gail Jones St Augustine, Florida (St Augustine Realty) almost 7 years ago

Donna, great post.  This is the purest example on why a Realtor would suggest a mortgage professional to home buyers.  They know that mortgage person and know they do an excellent job.  vs the "what if" of other lenders. 

Posted by David Krichmar, DaveYourMortgageGuy.com (www.DaveYourMortgageGuy.com - Legend Lending) almost 7 years ago

Donna...service to not only my client...but to me as well. Some mortgage people forget we are clients as well.

Posted by Jeffrey DiMuria 321.223.6253 Waves Realty, Florida Space Coast Homes (Waves Realty) almost 7 years ago

Donna - this is great advise.  In almost anything we do as consumers it is good to have personal referrals to check out.

Posted by Barbara Hensley, Homes for Sale in Rockwall County, Texas (RE/MAX Properties) almost 7 years ago

Hi Donna - The mortgage lender is probably the most critical link in the process these days. Years ago, we found a lender who works weekends and evenings, comes back with quick answers, is very competitive, and has always delivered on-time and as promised. We've never had a bad closing on her account. So we will always recommend her when there is an opportunity. But she doesn't always get the deal. When there are problems with other lenders, we do bite our tongues, hard as it may be - things are usually bad enough without rubbing our clients' noses in their mistake.

Posted by Dick Greenberg, Northern Colorado Residential Real Estate (New Paradigm Partners LLC) almost 7 years ago

Donna - Yes, it's true that referrals from someone you know and trust are typically better than just picking someone at random.  When I think of all of the Realtors who have referred me clients over the years, it was because they knew, trusted and respected me and they knew I take care of my clients.

However, keep in mind too, that just because you don't know someone or have never worked with them, doesn't mean that they're not just as good (or better) as "your guy".  While this doesn't apply to your scenario because you actually knew the mortgage person your client used and you knew their reputation.  However, I can't tell you how many times some Realtor who didn't know me and had never worked with me, would diss me because their client chose to use me instead of "their guy".

Just saying.....there are a lot of us MLOs that are absolutely phenomenal even if you don't know us or have never worked with us before.

Posted by Donne Knudsen, CalState Realty Services (Los Angeles & Ventura Counties in CA) almost 7 years ago

Donna  oh how true this is .. Most of the time my buyers take my advise . when they shop for rates instead of service they don't always get what they bargained for ..

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) almost 7 years ago

Donna

Great point on customer service, thanks for sharing it.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 7 years ago

All we can do is recommend.  Even when they insist on using the same people and end up getting messed over, I never tell them "I told ya so".  That is unprofessional and unneeded at the time and does nothing but make the client feel bad.  At least the loan closed and your buyer is a happy home owner :)!

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) almost 7 years ago

Good post, but I am not sure you should have tried to help him feel better about his decision. I think I may have remained silent. It was his choice and he learned a hard lesson and he simply needed to bask in the pain. There is definitely a reason people are referred.

Cal

Posted by Cal Yoder, Homes For Sale in Lancaster PA - 717.413.0744 (Keller Williams Elite) almost 7 years ago

I've had this happen many times. I actually just had this conversation with some buyers last night. You are spot on Donna, I said the same thing, that I am referring a lender because of the customer service that I know they will give.

Posted by Mike Mitchell, REALTOR (R) (Real Living Kee Realty) almost 7 years ago

Participate