Strong relationships with real estate agents can help lenders reach their goals and grow their revenue. After all, almost 90 percent of homebuyers use a real estate agent and will follow these agents’ lender recommendations more than three-quarters of the time.
But this partnership works both ways: 74% of real estate agents would like to receive leads from lenders they know and trust.
So how can you strengthen these ties and encourage referrals?
Studies show real estate agents value three attributes in their lender relationships: responsiveness, knowledge and integrity.
Specifically, agents value lenders who can provide:
- Constant and reliable communication
- A greater presence in the community
- A clear point of contact for appraisal information
If you can swing it—the following are also appreciated:
- An automated system for agents and clients to review loan status
- And an intuitive online preapproval format
Help your real estate partners help you, and your business will likely see the results.