With a plan in hand, originators
can capitalize on new construction
In the mortgage industry, your referral-partner network largely determines potential future earnings.
Although most originators have it drilled into their heads from day one to constantly seek out and
develop relationships with successful real estate agents, they typically receive far fewer directives and
resources from their companies to engage homebuilders and condo developers.
There are logical reasons for this lack of emphasis on builders. For one, Realtors typically have clients
who are ready to purchase and close quickly, while builders may take four to 12 months to build a home
for a client. Realtors and customers can’t always or may not want to wait. In today’s low-inventory
real estate market, however, builders are building more speculative homes to accommodate buyers
wishing to close in 60 days or less.
By Jim Colella
Vice president, national builder program manager
Photo illustration by Paula Douglass