The Dynamic Duo: Lenders & Real Estate Agents Unite to Provide a Better Homebuyers’ Experience

September 6, 2024 – St. Louis, MO –

John Lennon had Paul McCartney, Buzz Lightyear had Sheriff Woody, Travis Kelce has Patrick Mahomes, and your local lender with Gershman Mortgage has their trusty Realtor® partners! What do all these dynamic duos have in common? They rely on each other, they make each other better, and one cannot thrive without the other!

 The relationship between a lender and their real estate agent partner(s) is a mutually beneficial collaboration that requires clear communication and trust. We had the pleasure of chatting with Craig Wania (NMLS# 493719), Loan Officer and Vice President from our St. Peters Branch, and Joe Russell (NMLS# 1735126), Senior Loan Officer from our Tampa, FL branch and member of the Goodwin Mortgage Group about their thoughts on Realtor relationships, and how they help elevate the homebuying experience!

Can you explain the importance of keeping in touch with your agents, and, if possible, give an example of when going the extra mile for an agent ended up paying off?

Craig: Routinely touching base with my referral partners is a key ingredient in maintaining and growing the relationship and building rapport and trust. Often, it’s a simple text or a brief phone call every other week to keep in touch. I also believe it’s important to have a more casual meeting over coffee, breakfast, or lunch a couple of times per year.

Joe: These agents are the people you work with day to day and pass referrals to. Being fresh on their minds consistently allows for new possibilities. Many of my current relationships have resulted from one of my agent’s stressed co-workers requesting help. There is no better feeling than being recommended by your partners to their colleagues.

Craig: One of my agents called on a Sunday afternoon and asked if we could have an appraisal back by that Friday to help her buyer win the contract on a home. I hung up with the Realtor, called my processor, Lindsay, and asked for the favor to help our customer. Lindsay said she would get the appraisal order in as soon as she received the contract. I communicated that to the agent, and she was able to win the contract. Lindsay ordered the appraisal that same day. Since then, I receive several referrals every month from that real estate agent partner.

How does a strong, communicative relationship between the lender and the real estate agent actually help the buyer throughout the homebuying process?

Joe: When communication is strong throughout the process, any issue will be handled much more quickly. It also helps everyone feel confident throughout the process. Nothing is worse than not being able to get a response from someone as contract deadlines are approaching.

Craig: Agreed. Clear and consistent communication between the lender and agent helps the buyer understand the process and gives them more confidence when they make an offer.

Can you explain why, in today’s market especially, it’s crucial for a real estate agent to have easy access to a loan officer for their customers?

Craig: Over the last several years, most homes have gone under contract within days of hitting the market. So, it’s crucial for the real estate agent to be able to reach the loan officer easily for several reasons:

• To qualify a borrower who is interested in making an offer that same day
• To discuss strategies or solutions to help their buyer win the contract
• To discuss potential issues/hurdles regarding the property before they make an offer

Joe: With the current state of the market and regulation changes that real estate agents are experiencing, they need as much support as possible. Being available and providing value in difficult times strengthens your relationship. 

Chicken or egg: Do you think someone just beginning to dip their toe into the home-buying pond should reach out to the real estate agent or the lender first? Why?

Joe: As much as I wish homebuyers would call the lender first, that is very rarely the case. Lenders know this to be true, which is why most of our business ends up coming from real estate agents.

Craig: If the buyer contacts the real estate agent first, they will likely be told to get qualified for a mortgage first before they are shown any homes. The following are just a few of the reasons why you should contact a lender first:

• To determine if the customer qualifies for financing
• To establish their price range
• To determine which loan program(s) the borrower is qualified for, and which is the best for them to use
• To know what documentation will be needed to be fully approved to purchase

What advice would you give to a loan officer just starting out in the industry regarding developing their network of real estate agents and keeping those relationships strong?

Craig: Spend 15-20 hours per week marketing, scheduling appointments, networking, and meeting in person with your real estate agents/referral partners. In your initial meeting, ask questions to help you learn what they are looking for in a lender. Learn how to use your Customer Relationship Management (CRM) system and load all potential referral partners into it so you can engage with them outside of routine phone calls or in-person meetings. I recommend a weekly touch base with a combination of phone, text, and/or email from you or your CRM.

Joe: Exactly – and meet as many agents as possible, whether that be real estate agents, title agents, insurance agents, etc. Expanding your network is only going to lead to more potential relationships and, over time, some of your best partnerships.

What’s it like working for Gershman Mortgage? What makes Gershman stand out from other lenders?

Joe: Working at Gershman has allowed me to prioritize the right things and maximize productivity. I could not be happier growing my business at the moment. Never in my career have I had so much support from the initial application all the way through closing. Previously, I worked in retail lending and in the broker channel. I feel as if Gershman has really perfected its process and ease of communication from all different sides. Being able to reach out to everyone involved in the loan process can help alleviate any issue that comes up. Before, in my previous positions, I always sort of felt like I was “on an island.”

Craig: Everyone pulls together to get the job done on time, every time. What makes Gershman stand out is our support staff. Going the extra mile seems ingrained in the culture. Whether it’s working after hours or on a weekend to make sure we meet our commitments, we do it. Picking up the phone makes all the difference, too. Whether it’s our president, our underwriter, my processor, or a closer… I know they will take my call or call me back.

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About Gershman: Communities, families, and homes are at the heart of what we do at Gershman Mortgage. Our founding principles are based on the core values of honesty, integrity, the entrepreneurial spirit, and putting our customers first. We are passionate and committed to customer service and strive to ensure that we exceed the expectations of our customers. We are a customer-centric company devoted to creating and maintaining long-lasting relationships.

NMLS #138063 16253 Swingley Ridge Road Suite 200 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender.