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...
But 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.
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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.