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Rainmaker
778,856
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

Absolutely.

Oct 31, 2018 08:11 AM
Rainmaker
2,684,812
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I told a client one day... You need to listen to your agent! (me) Just like that!

Aug 10, 2015 08:55 AM
Rainer
231,174
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

hell yes. in a heartbeat. faster than a New York minute. Faster than Donald Trumps wig needs adjusting. :)  if we allow the choice to go un protested, and we have prior knowledge of this type activity, we are as guilty as he or she is. im just sayin :)

Aug 10, 2015 08:51 AM
Rainmaker
146,155
Damon Botticelli
Silver State Realty & Investments - Las Vegas, NV
Realtor - Las Vegas Real Estate

I don't tell them who to use or who not to use, but I would tell them about the deals that went bad in the hands of that lender, explain what went wrong and why.  They can make their own choice from there.

Aug 11, 2015 01:23 PM
Ambassador
4,316,065
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Mike Cooper - we can share what we have seen. Eventually, it's buyer's choice for the lender (and any other professional service they need while buying the home.)

Aug 11, 2015 11:23 AM
Rainmaker
868,688
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I would suggest using a different lender, or at least get a pre-approval from a 2nd lender in case problems arise with their first choice. I recently had a buyer who wanted to use his credit union. I knew it was a mistake. 2 1/2 weeks later we still didn't have a pre-approval letter from his credit union, so they gave up and caledl the lender that I suggested.

Aug 10, 2015 11:42 PM
Rainmaker
1,386,585
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

When we work with a buyer, we recommend lenders, inspectors, and other vendors that we know do a great job. 

Aug 10, 2015 11:28 PM
Rainmaker
1,466,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Mike Cooper I would advise the client that the lender is difficult to work with, but it is their decision as to whether they want to work with them. I've never had a bank intentionally torpedo a deal, but I have had to put up with several delays with banking procedures like committee meetings, etc.

Aug 10, 2015 10:29 PM
Rainmaker
4,308,049
Richard Weeks
Dallas, TX
REALTOR®, Broker

If that happened more then once I would tell the buyer I would not work with them if they are going to use that lender.  

Aug 10, 2015 10:10 PM
Rainmaker
914,818
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Chase is so bad that I encourage seller to kick those offers to the curb and insist MY BUYERS work with my preferred lender as Plan B.

The big banks attitude is that the borrower has a contract with the broker not the bank meaning the banks has NO need to respect the dates that appear in the executed purchase agreement or respect any preliminary finding of the broker.

Draw from your past experiences and apply the above understanding and suddenly it makes sense.

My responsibility does not end until the buyer and seller are working with a money source that actually wants their business.

Aug 10, 2015 09:44 PM
Rainmaker
4,440,863
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Oh absolutely! Can you imagine the fallout if your client found out you knew about that lender and didn't share? My job is to get my client to the closing table and I won't let a stupid lender get in the way.

Aug 10, 2015 09:19 PM
Rainmaker
2,508,128
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Mike. It is hard to believe that this lender is doing something intentional, but if that is the case, you need to mention it to your client.

Aug 10, 2015 06:58 PM
Rainmaker
794,404
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Its where our responsibility starts! It is our job to give people the best information possible and guide them thru the process. 

Aug 10, 2015 05:41 PM
Ambassador
5,707,111
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Absolutely, it is your job to help your clients through the process.

 

Aug 10, 2015 04:57 PM
Rainmaker
590,757
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

If the lender torpedoes YOUR clients particularly, I'd have a chat with the lender to see what gives. If he torpedoes a lot of buyers generally, I'd find out if those same clients can get a loan with other lenders. That shows that this one lender just can't get it done, and I would pass that information on to my client. And I would still have a chat with that lender to see what his problem is.

Aug 10, 2015 01:41 PM
Rainmaker
2,442,569
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I would explain that all Lenders are different and you only work with the ones that have proven they can close a deal.  I would then say that Lender is not on that list.  What that means to YOU is, you may go through the process more than once just because you chose a lender that has not proven they can get the job done.

Aug 10, 2015 12:02 PM
Ambassador
2,106,142
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

I think I would encourage the buyer to shop other lenders for mortgages.

Aug 10, 2015 11:51 AM
Rainmaker
397,256
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

No lender gets the opportunity to consistently torpedo my client's deals.  If a client chooses a lender known to be problematic, I let them know the nature of the issues.  If they still want to proceed with that lender, I suggest they double app with someone else.  Most move away from the problematic lender.

Aug 10, 2015 11:47 AM
Rainmaker
420,993
Cindy Davis
SD Home Source Realty - San Diego, CA

If the client chose them after due consideration, I think I would leave it be. We have be very careful about bad mouthing colleagues...it usually comes back one way or another. If I was asked by the client however, I would share my experiences.

Aug 10, 2015 09:17 AM
Rainmaker
6,975,637
Roy Kelley
Retired - Gaithersburg, MD

Absolutely. Clients should carefully listen to their agent.

Aug 10, 2015 09:08 AM