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Transparency in Real Estate/Mortgages - Interview your Realtor or Loan Officer - (Part 2 of 2)

 

Take the TIME to do your own INTERVIEW….

 

 

What is an interview? Wikipedia defines interview as a conversation between two or more people (the interviewer and the interviewee) where questions are asked by the interviewer to obtain information from the interviewee.

When you are shopping for a mortgage or for a realtor to help you sell your house or to help you buy a house, those that you talk to, should be interviewing you. Why should they be interviewing you? To get a feel for you, to understand your needs, and to get a feel for what your goals are now and in the near future. I have written about this several times, what a loan officer should be asking their potential client. Jeff Belonger's Interview process as a loan officer.

 

 

interviewing

So as a consumer, when shopping for someones services to help you with your mortgage or home buying/selling process from a realtor, what things should you consider?

First off, take this process seriously and just don't go with someone that typically uses the words : I guarantee you, I promise you, I am the best, etc, etc -

Secondly, take the time to interview these individuals. There are several ways at your fingertips. What you should be looking for is transparency in the individual and their services. I talked about this in : What is transparency all about? -

 

 

 

 

searching

So what are the ways that you can conduct your own interview? It can be simple and not take much time at all. Here are some options (keeping in mind that more of these options are when researching your loan officer) :

  • You can do a search online by using Google.com and Bing.com. Just type in the person's name and also do a search on their company. You might be surprised at what you find out.
  • BBB - Better Business Bureau - Find out about the company that individual works for. Keep in mind that not everyone is always happy and likes to complain, so some complaints might be fluff per se.
  • The National Mortgage Licensing System & Registry (NMLS) will be a great place to not only find out if that loan officer is licensed, but their credentials, and some history about that person. Here is the website : The National Mortgage Licensing System & Registry - This site is currently being used by 38 states and will be mandatory for everyone by the end of January.There will be a separate link just for this new site and for these searches. Keep in mind that this is a good form of transparency, but not 100%. It should be a solid tool though.
  • State and local agencies - Each state has their own web site for loan officers, mortgage companies, and realtors. There are different ways to search through these sites, but not every state has the same requirements.
  • FHA Approved Lenders - HUD Lender Locator - This tool allows you to see what lenders are actually FHA approved.

 

 

 

Summary : The bottom line is that you should become pro-active in your searches, when searching for that true professional. Even if someone gives you a referral, just don't take their word for you. I have seen referrals backfire for several reasons. And don't just take in account someones years of experience. I approved a loan 2 years ago with 15 years of experience at the time, after a loan officer had denied the loan 30 days later, who had 30 years of experience. Questions do matter, and not just name, rank, and serial number. Get to know who you are dealing with.

 

PS...I know I didn't hit upon every type of method. If you have some other means of searching for people, please feel free to include them in the comments below and I will include these with your name.  Thanks

 

 

All pictures are courtesy of istockphoto.com

 

 

 

 

 

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- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- Mortgages -

 

Experience & Knowledge at its BEST !!!

 

 

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For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

HUD

 

 

Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc

10 comments • Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans • January 18 2010 10:14AM

Another Real Estate deal in Coral Springs, Fl

This past week has been a busy week for me. I wrote up an offer on Thursday for a house in Coral Springs. Offer accepted!

Today I met with another set of buyers, also for Coral Springs. We met at 10 am and was on our way. We saw 5 homes, at this point I had already seen most of the inventory so I was able to let them know certain qualities about the home. Which they were able to see. By the time we got to the last house I never saw this one. As as walked through I explained how great the home was and since was the first time I met with these buyers I was trying to get a feel for them. They looked at me and said this is the house. Where is the contract? Huh now, you want to write up an offer now? Yes, as soon as we walked in the house we knew!

We went to my car wrote up the offer and they handed me their pre-approval letter, Conventional no less! It was the quickest I have ever wrote up an offer. Now sending it and getting accepted. This couple came down here from NY just to buy a house. How great is that?

The city of Coral Springs is hopping right now with great deals. Are you looking to buy? Let me know!

Selling Houses and Creating Homes!

Jeannette Neerpat
9000 Sheridan Street
Pembroke Pines, Fl 33024
www.Neerpat.com

Would you like a Free Market Analysis? Visit www.Neerpat.com or call 954-993-4104.

LivingTamarac.com

Photos

2 comments • Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate • May 02 2009 03:01PM

Servicing Your Listing

open doorSo now that you got your listing where do you go from here? Now you need to take care of your clients. There are multiple steps to take to service your listing. Here we go:

 

 

 

  • Talk to your sellers at least once per week. Tell them everything that is going on, whether good or bad.
  • Use Realtor.com it statistics to illustrate activity and request price reductions if necessary.
  • Know the area comps and help the customer/client know their own market. This will help when it comes time to negotiate.
  • Send recent related articles to seller.
  • Call those who have shown the property in the past with price reduction information.
  • Communicate showing feedback to your seller.
  • Hold regular open houses.
  • Stage to property well inside and out.
  • Update photos.
  • Update the remarks and comments in the MLS.
  • Be POSITIVE.
  • Be CREATIVE.
  • Plan your price strategy in ADVANCE
  • Let your sellers know every step you take with their listing.
  • Update your CMA every 30 days.
  • Take your seller out to view their competition. It's one thing for you to tell them where the price should be and another for them to see what they are competing with.
  • E-mail your new listings to your SOI and geographic area. Keeps your name in front and they may have the perfect buyer!
  • Send seller a Just Listed card for their property when you mail the neighborhood. If there is a yard sign, install a brochure box with colorful and descriptive property flyers and always check that it is full.
  • ALWAYS UNDER PROMISE AND OVER DELIVER.
  • Make the sellers a Parnter- ask them what they liked about the house when they bought it, what they discovered and enjoyed after living in it, include it in your description.

So tell me do you do anything different for your listings? How creative are you. Please leave your comments, would love to incorparate it into what I do. Thanks!

Jeannette Neerpat
www.Neerpat.com
Jeannette@Neerpat.com

9 comments • Jeannette Neerpat, e-Pro Coral Springs/Parkland Real Estate • August 02 2007 08:41AM