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xxxxxx By Jerry A. Kussy assistant vice president and sales manager Liberty Bank for Savings
7 Tips to Build Realtor Relationships
getting referrals from real estate agents is key to purchase business
In today’s market, mortgage profes- sionalsmust build relationships with real estate agents to increase their
purchase-loan business. Eventually, interest rates will start to increase, and
refinances will decrease. At this point,
purchase business will start to pick up,
making established relationships with
real estate agents invaluable.
Developing these partnerships require
some basic steps that mortgage originators often forget. Here are seven simple
tips to help mortgage brokers and originators get started building these future
referral sources.
1. Be proactive. For Realtors, it is frustrating when they have to contact
you to see the status of a file. When
a loan gets approved, an appraisal
is completed or any other milestone
occurs, you should be proactive and
contact the agent with these updates.
Don’t wait for someone to call you.
2. Be honest. Real estate agents un-
derstand that not every lender can
originate every loan. If an agent pro-
vides a loan scenario to you, don’t
automatically say you can get it done.
Perform your due diligence and see
if it is a loan that fits your lender’s
guidelines. If you are not confident
you can get it closed, express that to
the referral partner right away.
the real estate industry always has
been relationship driven. Whether you
are a mortgage originator, real estate
agent, attorney or appraiser, building
relationships is what makes your
business thrive. If you concentrate on
these simple steps, you should build
lasting and fruitful relationships with
your referral partners. •
Disclaimer: Liberty Bank for Savings does not
warrant the accuracy or completeness of the
content of this article. Any opinions expressed
in this article are solely those of the author,
and are not necessarily the opinions of Liberty
or its management.
Jerry A. Kussy is assistant vice president and
sales manager with Liberty Bank for Savings, a
community bank in Chicago. He has worked for
more than 10 years as a loan officer and previously as president and CEO of a local mortgage
company. Kussy understands the importance
of relationships as all his clients are referrals.
Being ethical and doing the right thing is paramount to his success. Reach him at (773)594-
6642 or jkussy@libertybank.com.
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