For real estate offices out there that have in-house lenders, it may come at a cost rather than a profit.
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In House Lenders May Come at a Cost Rather than Profit
admin - Monday March 27, 2017
I agree with Laforte, and to add to that Lenders expect reciprocation when it comes to referrals…Unless you’re running a flawed lead generation system focused on Buyer leads you’ll never reciprocate enough referrals to keep a lender sending you good quality leads. Stick with inventory focused lead generation, control the listings and you’ll end up with all the buyers you want/ can stand. Interesting stats on retail store closings too seems a bit scary…
Lenders expect reciprocation? Yes, we do! How many more agents than LO’s are there out there? There’s no way for an agent to make a living relying on lender leads, but 75% of buyers start with contact with an agent, and 60% use the lender their agent recommends. Lenders will refer their unattached borrowers to the agents they work with that do business the right way.
This is one of my favorite posts you’ve done. The dancing pants kid and OJ reference – funny stuff! And, of course you make valid points. Those that feel defensive when watching this need to understand the point: times; they are a changin’
Thanks guys!