How Loan Officers Can Improve Their Working Relationships With Realtors

Sure, sometimes you’ll find a realtor that has a buyer who wants to pay all in cash, but usually you’ll find that their buyers need a loan. This means they need to get in touch with a loan officer. Realtors need loan officers, and loan officers need realtors. They both need potential home owners. Setting up good relationships help both stay in business.

Setting up these powerful relationships can take quite a bit of time and work, but they’re well worth it. Let’s take a look at some tips to help you to get some great interactions with realtors and get a leg up on your competitors.

Step 1: Understand that you both are allies.

Sure, you’ll find that there are people that aren’t exactly great to work with. That’s true anywhere. Maybe they’re pushy or just annoy you for some random reason. Putting that to the side, though, you are both on the same side. Approaching the relatinship like this is a great way to improve your working relationship. Realtors want happy clients, and if you help make that a reality they’ll send business your way. It is as simple as that.

Step 2: Make Yourself Accountable
Working in the mortgage space means that you can’t predict everything. Things are complex sometimes. You might not be capable of getting exactly what you want for the people you’re working with, despite how much you want to. There are limits to what you can do, after all, and even halfway-decent realtors know this. Just be honest and up front, and make yourself accountable. This is what the big realtors look for.

Step 3: Setup a proper communication system
Being able to communicate properly is easily as valuable as being able to be accountable for your actions. Realtors and potential homeowners are always eager to hear any news; the longer you make them wait the more difficult you make it on the realtor. The work you do in the loan space isn’t one that is well known to those borrowing, which means you can easily sidestep any questions from potential home owners, but don’t do it. It just hurts your relationship with them and with the realtor who referred them to you.

Step 4: Make Good use of Social Media
Get yourself a great presence on social media. This is one of the greatest ways both mortgage officers and realtors can build up their business and their brands. Millions use social media every day, and there’s no reason you shouldn’t be using it to stay in contact with them. This is where you can grow relationships and build up great contacts.

In the world of lending, just like those dealing with selling homes, you need to treat everyone as great as you can. This is true for business and personal life as well. Mean what you say and do what you say. Don’t overpromise things that you aren’t sure you can actually do. Keep communicating with everyone and be as helpful as possible. Keeping these great qualities will make you one of the most trusted professionals in the lending space, and will seriously boost your business.

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