A June 2022 survey reveals that around 18% of 15,000 Gen Z respondents in the U.S. have plans to purchase their own homes within 12 months after the survey was conducted. With the overall economy slowly recovering from the pandemic-induced recession, home sales will likely increase in the coming year.
As a new real estate agent, you should take advantage of upcoming opportunities. In doing so, building a network of reliable partners who can help you close deals and grow your business is important. One of the most important partners you can have is a lender. Here’s why:
Increased Exposure and More Referrals
Exposure is everything in the real estate business. The more people see your listings, the more likely you will make a sale. And when it comes to reaching potential clients, working with lenders can be a great way to get increased exposure. Lenders often have access to a wide range of interested homebuyers. This includes those looking for their first home, those who are upsizing or downsizing, and those who are relocating. By partnering with a lender, you can tap into this pool of buyers and reach a larger audience.
In addition, working with lenders can help to build your credibility and reputation. Lenders are typically selective about the agents they work with. So being chosen by a lender is a testament to your skills and experience. As a result, partnering with lenders can be a great way to get increased exposure and build your business.
More Options and Better Rates
As a real estate agent, you can offer recommendations and help your clients find loans that suit their needs and budget. As someone who’s assisting clients in finding new homes, you’d have a better understanding of what your clients are looking for in a home, and having lenders as partners will provide you with the knowledge to help your clients narrow their loan options. This is because lenders typically have access to various mortgage products, which allows you to help offer the best mortgage rate options for your clients. Additionally, some lenders may be willing to offer discounts on fees or interest rates to clients referred by an agent they are affiliated with, making your services much more valuable to your clients.
Improved Client Satisfaction
As a real estate agent, you know that providing great customer service is key to keeping your clients happy. One way to ensure that your clients have a positive experience is to work with lenders who are responsive and easy to work with. By partnering with lenders who offer quick turnaround times and clear communication, you can help to make the home-buying process as smooth and stress-free as possible for your clients. In addition, working with lenders who offer a wide range of loan products can also help you better meet your clients’ needs. However, one way to better gauge your clients’ satisfaction with your services is to ask for and collect customer feedback. This can be done through regular check-ins and after a transaction is complete. By providing your clients with quality service, you can help to build long-lasting relationships that will keep them coming back to you for all their real estate needs.
Increased Profitability
As a real estate agent, working with lenders can be a great way to increase your profitability. By understanding the basics of the lending process and being familiar with the different types of loans available, you can more efficiently help potential buyers find the right lender. In addition, doing so provides your clients with the diverse necessary expertise they require throughout the home-buying process, helping them save time and money.
As a result, your clients will be more likely to recommend you to their friends and family members, and you will build a reputation as an expert in the field. When you close more deals, you can earn more commission income. Ultimately, by working with lenders, you can help your clients achieve their homeownership goals while increasing your own bottom line.
As a new real estate agent, building a network of reliable partners who can help you close deals and grow your business is essential. One of the most important partners you can have is a lender. A lender will help you close more deals and help your clients get better interest rates on their loans. They will also be well-connected in the real estate community and can help give referrals to other professionals who can help grow your business. So, partnering with a lender is a great place to start if you’re looking for ways to take your real estate business to the next level.