How MLOs and Real Estate Agents Make a Great Team
October 31, 2018
Emery Federal Credit Union
Purchasing a home can be a tedious, complicated process for home buyers. Not to mention, it’s a pretty big deal! Amidst the life-changing decisions, having support from trustworthy professionals (cough, cough: a quality mortgage loan officer and real estate agent team) will help to make the process as seamless as possible for the buyers.
You can simplify the process for your clients – and experience some benefits in your own business – by teaming up with a real estate agent. Here are three reasons MLOs and real estate agents make a good team:
Increased leads and income
By teaming up with a real estate agent, especially one who is well-known and successful in your area, you’ll very likely see an increase in business. Establishing a good working partnership ensures that you will be the go-to lender of choice. In the end, real estate agents ultimately want to please their clients. If they know you are a dream to work with, they will gladly push business your way.
Better experience = better reviews
Typically, when things run smoothly, a customer is willing to share how great his or her experience was. In the case of a MLO-real estate agent duo, communication is key. Establishing consistent communication with your real estate agent partner will ensure nothing falls through the cracks. It will also help your clients feel like they’re being taken care of. High-quality service will establish loyalty with clients for long-term business opportunities for both the MLO and the real estate agent.
Added value to your business
For a partnership between hard-working MLOs and real estate agents to be mutually beneficial, each person must have respect for the other’s profession. They should understand the concept of being an extension of each other’s business, and willing to cross-promote whenever possible. The lender will reinforce the client’s decision to work with the realtor, while the realtor continuously supports the abilities of the lender. After the closing, having a peer that can provide feedback for your business will be extremely helpful in growing and bettering yourself professionally.
In many cases, teamwork makes the dream work; and an MLO/real estate agent partnership is no exception. Is there someone in your network you could partner with today?