Loan Officers & Real Estate Agents

Loan officers and real estate agents are key players in the home buying process. Real estate agents may from time to time get a cash buyer, but in most instances buyers are taking out loans, which requires a loan officer’s help. Long-term relationships with referrals from real estate agents help loans officer keep volume up, which means it is important for them to cultivate these relationships. Here are tips to help loan officers and real estate agent relationships.

Be Accountable

No matter what team you are on, every member needs to be accountable. This team is no exception. Each member of the team needs to be upfront with the other person about timelines, any problems that arise and goals. As long as you are accountable for your part in the process, the other members will respect that and honor that in future transactions. During your first interactions with the real estate agent, be clear about your role and what you can and cannot accomplish. Real estate agents will respect that and want to work with you in the future because of these qualities.

 Establish a Communication System

Throughout the home buying process, communication plays a key role for all parties involved. From the start, it is best to establish what form of communication works best for everyone. Some people prefer texting, phone calls or emails so it is best to talk about that in order for the process to move as quickly as possible. The real estate agent is often the first line of communication for the customer, it is up to the loan officer to ensure they are informed about everything that is going on on their end. If you have a system for how you work, make sure to communicate that to the real estate agent and explain their role so they are not left in the dark about anything.

Social Media

One of the best things both real estate agents and loan officers can do to communicate more effectively and grow their brands is to have a presence on social media. Everyone is on social media. People are using it to stay connected to industry trends and information. Social media is an awesome place to meet new people and grow current relationships. Real estate agents and loan officers who engage with each other on social media create opportunities for both parties to be more successful. If you are sharing industry information and available listings in your area, it may catch the eye of a real estate agent in your area and even lead to a possible home sale together. Never underestimate the power of social media.

Do not forget the Golden Rule when working with others. Always treat them how you would want to be treated!