What Do Realtors Want From A Loan Officer? A Triple Lutz?

If you are a mortgage loan officer the big mystery you must solve to be successful is, “What is it that Realtors want from a Loan Officer?” As a newbie or green pea loan officer you sit in awe of the top producing Loan Officers who joke with their realtors and will even tell their Realtors, “No, ” or “Be patient”, or, “Relax. I’ve got it covered. No worries!”, and back the Realtors off once in while. So what is the mystery to controlling the Real estate Mortgage Lending transaction and the Realtor along with it?

The Realtors generally don’t know all that much about lending and the Realtors find “lending” very mysterious. Even spooky, like VooDoo! Realtors believe that banks are stupid, even though the banks have all the money, and that mortgage brokers are smart, even though the mortgage brokers are broke, and get all their lending money from the banks. What the Realtors want in a Loan Officer is someone who can take over the process once the buyer and home are in contract, structure the loan with the borrower, keep the borrower happy, get the loan funded, and follow up with a phone call now and again to the Realtor during the process. That’s it. If you can just accomplish those few details you will be successful beyond your wildest dreams. If it seems so easy….then why is it so hard?

The reason it’s hard is because the lending game for Loan Officers is all smoke and mirrors. The Loan Officer has to pretend that they are in control when they have no control…every loan is like doing a triple lutz on the ice for an ice skater…once the real estate lending transaction is off the ground and in the air anything can happen…and does! The top Loan Officers can create an illusion that they can, “Get a deal done”, better than anyone else, and that they are in control. Sometimes it can even be true, but if one Loan officer is better than another it is because they know their guidelines and policies even better than the underwriters and processors they submit the loans too…and they work harder at their craft than the other loan officers do! That is the Loan Officer the realtor is looking for…the Loan Officer who can pull off the triple Lutz of lending most of the time and stay off their ass on the lending ice!

The one common trait to all great Loan Officers is that they know their systems and they study the policies and guidelines. The Realtors are salespeople and they can tell if you know what you are doing. You must convince the Realtor that you can deliver because you put in the time to make yourself the best…you put in the time to Be Number One. That is the only way you can create the “Illusion” that you have control, that you are consistent, and that you, “Can get the deal done!”

As Dr. Billy the five unique ways a mortgage sales Loan Officer can create a bond with the best realtors!