When Mortgage Lenders and Real Estate Professionals work together Home Owners Win!!
Realtor and the mortgage broker -- are in tune with each other and have figured out how to work well together.
By: Brian Carlson
The topic comes up for debate frequently in real estate and mortgage blogs. It's not difficult (at all) to find solicitations for "agent originators"
Does it make sense for one person to serve as both real estate agent and mortgage originator on the same transaction?
Donald Troisi's opinion is a resounding NO!
Mr. Troisi states the primary issue is with one person trying to do the work of two. I am a real estate expert. I understand a lot about financing a real estate transaction, but I am by no means as expert as a full-time mortgage professional. Buying a home is likely the single largest financial commitment a person will ever make. You should demand that a lending professional help you through the process. Someone that originates loans "on the side" is likely not the best person for the job.
As a full time real estate agent, I simply do not have the time to gain a thorough understanding of the nuances of hundreds of available mortgage products. I don't have time to monitor the financial markets and economic trends so that I can properly advise a client when to lock a rate.
Donald Troisi stated that many people have claimed that an advantage to one person handling both jobs is gaining absolute control of all aspects of the transaction. That's pure poppycock. For Donald Troisi to gain absolute control over a real estate transaction, He would have to represent both the buyer and seller as real estate agent , he would have to originate the loan, I'd have to inspect the home, and he would have to deal with the title company, an escrow officer, and might as well toss county recorder into the mix too.
Donald Troisi feels that any loss of control over a deal when he is working with lenders. He has worked with dozens of realtors ranging from the brilliant to the not-so-swift. he is happy to recommend multiple realtors to his clients and encourage them to interview multiple other realtors — just as they should interview multiple lenders. Buying a house is a big deal, it's not something to approach with a "they're all the same" attitude. Sacrificing expertise to gain some level of control is a lousy reason for doing business this way. A good agent will work closely with a lender to ensure a successful close.
The sub-title of this post is, "One-Stop Shopping, or Half-Assed Service?" Let it be noted for the record that I'm sure there are some "agent originators"
I prefer to do my job and refer my clients to superior lenders so they can do theirs. We'll work together to serve the client's best interests.
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Amerisave is one of the nation's leading and fastest-growing online mortgage companies, serving customers in all 50 states.
Regional Sales Director Donald Troisi, can provide can assist you with all your home financing needs.