Real Estate Vendor Partners are Good as Gold
Many real estate agents focus all their attention on cultivating clients who are buyers or homeowners. Their goal is just to get to get to the closing table, get paid, and then head back out to drum up leads. That’s great. But the professionals you deal with on the way to closing are some of the most valuable leads of all. Learn to recognize their worth, and you’ll automatically close more sales.
The majority of deals fall through because buyers can’t get mortgage approval. Oftentimes, it’s due to the fact that they didn’t fully prepare before applying for the loan. Maybe they didn’t work on improving their credit score, or didn’t document their income and assets. They may have applied for the wrong kind of loan, or with a bank or mortgage company that doesn’t have great customer service and prompt, responsive underwriting. That’s why it is important for real estate agents to cultivate strong rapport with lots of different qualified and resourceful lenders. Knowledgeable, creative loan officers can educate your clients and walk everyone through the process in a way that increases the chance of approval and success.
The same goes for home inspectors, because one of the other major obstacles to a speedy closing is the inspection. If the homeowner doesn’t know that they have hidden problems, the inspection can unexpectedly reveal those. That can send buyers into a panic. But an inspector can do a pre-listing home inspection, to point out issues that can be fixed by your homeowner before they list. Likewise, if you know an inspector who is a great communicator, they can help buyers better understand the inspection process. It’s never good when your buyer reacts with fear over items flagged in the report. But an inspector can help them understand which items are easily remedied…and which ones may require a deeper investigation. It’s wise to cultivate an ongoing relationship with an inspector you trust, who is experienced, and guarantees his inspections. That kind of rapport with an experienced and reliable home inspector or home inspection company can help make the inspection process smoother, more insightful, and more worry-free for everyone
Getting affordable insurance, to help keep the total monthly payments manageable, is also valuable to buyers. The more connections you have within the homeowner’s insurance community, the more you can guide your clients. That helps ensure they get a great policy, at a reasonable price, with superior customer service. Companies that sell home warranties can also help encourage buyers and reassure home sellers. So it’s wise to know where to go to find a good home warranty. Many Realtors include a home warranty as an attractive incentive to buyers or sellers, to help gain more lucrative business. A warranty can also help you avoid problems and get repairs paid for promptly. That can be a huge benefit if something breaks down, just when you thought the negotiations were settled and done.
Title Companies & Real Estate Attorneys
Snags and delays are not uncommon when you’re heading toward a real estate closing. Sometimes documents are missing, or a major bank holiday slows down the process. There may be a title, boundary, or easement dispute or problem. You cannot solve those issues by yourself. You need sharp title company professionals or real estate attorneys. That’s why every high-producing Realtor maintains strong relationships with them. They appreciate your business, and they’ll be there to answer the phone when you find yourself in a title or real estate law dilemma.