Do Realtors Care about Lender Experience & Knowledge?

Do Realtors Care about Lender Experience & Knowledge?

A recent post by Janet Guilbault on ActiveRain (a real estate blogging site) probably headed in a direction she didn't intend, but did bring out some interesting comments from many real estate agents.

I was shocked after reading all the comments that most of the agents seemed to endorse buyers shopping for a mortgage solely by price.

A couple of brave Loan Originators pointed out that LO's could do the same thing to agents and recommend buyers & sellers shop solely for the agent willing to work for the lowest commission.

I don't really see the tit-for-tat thing being constructive for either side as Realtors and Loan Originators should be partners working for the best interests of their shared client, the buyer.

MORTGAGE, EXPERT, MICHIGAN, BIRMINGHAM, BLOOMFIELD, DETROIT, ROCHESTER, ROYAL OAK, TROY 

Here's the comment I posted:

I find it interesting that not one Realtor mentioned the experience and knowledge of a loan officer over price!

Hmmm, it seems the collective thoughts, of some of the best agents in the industry, are of the opinion that price is all that matters.

I can't put into words how disappointed I am if this is truly the thought process of the brightest Realtor minds in this business.

The next time any of you want to complain about one of your deals not going smoothly or blowing up due to lender issues, just remember - the buyer shopped and got the best price, so everyone involved got what they deserved.

Not a very constructive comment either.  I apologize as I was a bit steamed that the other half of our industry's symbiotic relationship appears to think they could easily survive without experienced or knowledgeable LO's.

That is the key to this debate.  We're all in this together.  Each half needs the other to get paid.

I fully believe buyers should be shopping for the best deal.  Rates & fees are only a small part of what makes up the best deal.  The best rate & fees mean nothing if the deal doesn't close due to incompetency.

So, do unto others as you would have them do unto you.

You can read the 70+ responses to my post on ActiveRain by clicking here.

BTW - if you're a potential buyer reading this post, click on the link above and check out the comments.  You should give careful thought to shopping only by price, unless you're gambler.  At the end of the day, you get what you pay for.

_______________________________________________________________

If you enjoyed my blog post,
I invite you to connect with me on the social networks below & subscribe to my blog! 

"Referrals are Sending Someone You Care about, to Someone You Trust!"
So, forward this blog post to someone that'll appreciate it!

_______________________________________________________________

Drew Sygit: CMPS, CMC, CRMS, CMLO, CALO, MBA, NAMB/MAMP Instructor & Speaker
The most Certified Mortgage Expert in the Midwest

Contact him for The Lending Edge
P: 248-356-3739 • F: 866-215-3755 • dsygit@TheLendingEdge.com • www.TheLendingEdge.com