Buying a home and taking out a loan come hand in hand. As such, the partnership between mortgage brokers and real estate agents is not only essential for their own businesses but also vital for homebuyers and homeowners. Here’s how they can elevate their partnership so that everyone is a winner.
Communication is key, and even more so when you are a mortgage broker or a real estate agent. As a mortgage broker, real estate agents and their clients are constantly anticipating updates from your side such as their eligibility for loans or the progress of their loan application. Even if there is a lack of update, it is essential that the two parties constantly stay in contact so that everyone is aware of the current situation. In the same vein, real estate agents should communicate the needs of their clients clearly to mortgage brokers. Whether is it emails, WhatsApp messages or phone calls, you know what works best for you and your business partners. If you don’t yet, figure out what works. You want to be forming a solid and genuine relationship where both parties are eager to help each other and most importantly, help your clients.
Be a team
This brings us to our second point, which is arguably the most crucial factor of this partnership. Recognise that you are a team, acknowledge that you are working together and be sincere in this partnership. Regardless of the obstacles that you may face as a mortgage broker or a real estate agent, you ultimately want the best for your clients – for them to be able to acquire their dream homes at the best price. As such, with a formation of a solid team, referrals will gladly come your way and business is only going to thrive as you give your clients the complete package. This relationship will come a long way and everyone will emerge victorious.
Be genuine and honest
Things may not always go as planned. Hiccups are bound to happen as complications occur. In an industry like that of real estate, there are many uncertainties. As such, it is important that you are clear about what you are able to do for your partner and/or client. Set realistic expectations and be explicit about the limitations and difficulties that you may face. Your honesty and earnestness are always appreciated. Even if you fail to secure the deal, your partners will still come back to you because of these qualities that you possess and demonstrate. Therefore, do not make empty promises and always remember the first tip – communicate!