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May be I am lucky!
I do get lots of buyers from my lender - almost 30% of my business comes from my lender. He also provides me with some listing leads that I am working on right now.
As I said, I am lucky to have such a wonderful lender partner.
Gene Mundt, IL/WI Mort...
New Lenox, IL
None in 2014.
None in 2013
None in 2012.
How much business have I sent to a lender in that time?
So, who ready to be an EQUAL partner?
I have a great Loan Officer. He personally has given me his listing. His sister in-law and at least 10 buyers in 2014. I have sent him several re-finance's as well. We help each other.
I think it's been less than a handful in 10 years. Yet, they all keep asking for my business.
More forestry referrals than real estate.
Buyers, of course.
I work with several lenders and get some referrals from them.
I am being more stategic in my choice of lenders for this very reason. I have sent probably 500 buyers to lenders over the years and have gotten about 20 referrals back in return. As a result, I had a lender pay for half of one of my mailings this year and he has already referred a buyer client to me.
The best referrals from the Lender is the ones that are already pre-qualified.
The best kind, pre-approved and ready to go!
It pays to have a lender that does not service many realtors. I never got a lead from one that represented a bunch of realtors
Chris Mamone ... I have written posts .. and remarked on my preference for potential Buyers to get to me (a Lender) first as they enter their home buying transaction many many times. Why do I recommend that? Credit reasons ... and enhancement of positioning regarding that credit. The sooner they begin that work, the better results they reap.
Each and every time I've written that suggestion, the majority of agents commenting to my post say they prefer otherwise. That the agent be the first point of contact. That's the sentiment I see suggested most often in media as well. Obviously making it the advice most often seen by potential Buyers. It's my opinion that agents and their larger associations do a much better job of marketing, representing, and guiding the public than lenders do.
That's the order in which I see most of my Borrowers start their process. Agents have been successful in getting their message across. When I can, I refer to agents. It unfortunately just doesn't happen that often.
Agents can't expect that if they advertise and market themselves as the first point of contact effectively ... that potential Borrowers won't follow their advice. Not to say that we Lenders shouldn't and can't refer more often. But again, it's been my experience that those opportunites just don't open-up for me as often as they do for agents. I wish they did ...
I don't get very many, but the ones I do get are the ones ready to buy.
I used a Wells Fargo lender years ago, and usually get 2-4 buyers from him every year. Last year even got a Seller!