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Making Relationships Work

May 25, 2011

From Sandie Tate

Making the Lender/Builder/Realtor® Relationship Work

Building relationships with other real estate professionals is a key tool for your business. So, what makes a good partnership between real estate professionals?

You offer each other something that’s mutually beneficial.
Look to work with someone who shares the same end game even if the path to it is not identical. For example, you might work with a real estate developer that is selling residential lots, knowing that the customer may need a lot loan, and later, a new construction loan.

You are upfront about your expectations.
If you don’t ask for it, you can’t complain if you don’t get it! Do not assume you will receive certain benefits – ask! Spell out what you bring to the table and what you want so each side can agree on the expectations.

Strong commitment on both sides.
If one party continually drops the ball, doesn’t follow through, or has an overall poor work ethic, bitterness will follow, and the relationship won’t last. Select professionals who are just as excited as you are about your relationship and the potential it can have for your businesses.

When Realtors were asked what they look for in a loan officer, one answer kept popping up:  honesty.  They want straight answers from loan officers on the status of their customers’ loans (but not mere minutes or hours before the closing!) even if it’s bad news. Don’t make excuses, make good.

Do what you say you’ll do. Make no excuses.
This one needs no explanation!

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