2. With the financing end of real estate transactions
getting more involved as time passes, your
relationship with your lending professional is
more important than ever. Here’s what you as a
real estate professional need to know about the
care and feeding of your lender partner.
3. Communicate, Communicate,
Communicate
The highest-regarded lending
professionals in the world are
of little use to you if you are
unable to reach them or if they
don’t give you timely and
accurate information on your
client’s file. If you are working with a new lender for
the first time, be sure to set your expectations of
the level of communication you need right at the
very beginning of the process. Note that few
lenders send out regular updates to clients unless
something new comes up, such as a problem that
the client needs to be aware of and perhaps handle.
4. Help Them Help You
The flip side of the lender who is
too busy to help is the lender
who is truly doing the job but the
client is unresponsive. Most
home buyers, especially first-time
buyers, are unable to grasp the enormous level of
detail that must go into each file to get it to the
closing table. Do your lender a favor and explain
that to clients. Seemingly small things can hold up
or stop the mortgage process. You need to work
with the lenders to keep it moving, as they want to
get to the closing table as much as you do.
