SkillSET Blog
Advice For Pros · October 10, 2022 · AUTHOR: Stanley Bawalan

Making Connections in Real Estate: Mortgage Brokers And Other Professionals

We often take for granted the other professionals in real estate we should connect with. This can include investors, loan officers, and more. Like you reading this, it's my job to help mortgage brokers build relationships. That's 'netWORK'. Let's start:


Mortgage Brokers should connect with Real Estate Agents

Real estate agents are experts in the local market, meaning they know what's selling and what's not. They also have access to information about neighborhoods, schools, and even crime rates that you'd never be able to get on your own. In short, you need an agent with a good eye for what will benefit both parties involved in a transaction.

So why should you work with real estate agents? Simple, it’s because they'll help you find better deals! Experienced agents are great at negotiating on behalf of their clients because they know how much they can ask for—and more importantly, they know how much their clients will be willing to pay.

Another reason is that a real estate agent can show you all of the properties that have come up for sale recently in your area if he/she has access to multiple listing services (MLS). This means no more wasted time searching for houses that have already been sold on Zillow.

Mortgage Brokers should connect with Investors

If you're a mortgage broker looking for a new way to make money and serve your clients, then you should be working with real estate investors.

The reality is that not every borrower has the credit score or income to qualify for a mortgage. That's where real estate investors come in. They buy properties and then rent them out until they can sell them at a profit. They will need financing—and that's where mortgage brokers come in.

Real estate investors are constantly looking for deals, but usually, they don't have the time to find them themselves, so they need someone or a team that can do all the legwork on their behalf. You can provide that service by doing everything from finding listings to negotiating terms and conditions with sellers and buyers alike.

In return for your efforts, real estate investors will pay you a commission fee for each deal you help them close (typically anywhere from 1%-3%). This is great news for you as a mortgage broker because it means more money in your pocket without having to spend any extra time on research or marketing efforts!

And if you think about it, both parties benefit from this arrangement: The investor gets access to deals he wouldn't otherwise have found himself, and you get paid handsomely.

Mortgage Brokers should connect with Loan Officers

As a mortgage broker, there are a lot of reasons why you should work with loan officers. The first and most obvious reason is that they're experts in their field and can help you secure more loans for your clients. But what about the benefits for you?

Loan officers are great at closing deals and helping their clients find the best home loan options available. They're also great at building relationships with lenders and other professionals in the industry. And they're well-acquainted with all aspects of a real estate transaction too. This means they can help you get to know your clients better as well as provide information on things like escrow accounts or property taxes.

Loan officers provide valuable insight into what's going on in their industry by attending conferences, workshops, and seminars—and they'll often share this information with you because they want to see you succeed. They also have access to databases that provide trends on how much people are spending on homes, how long it takes them to pay off loans, etc.—and again, they'll share these insights with you because they want to see you succeed too!

Final Thoughts

What you’ve read is an overview of some of the most common relationships between mortgage brokers and other professionals in today's industry. Making other connections will improve your business and can help you to succeed. Take a closer look if you are not familiar with them so you can gain a better understanding of how everyone works together for both parties. At the end of the day, we are all headed toward the same goal of making a striking first impression on people who need help with their mortgages.

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