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Ambassador
1,445,719
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

The agent's role is understanding what is and IS NOT in their job description!

Jun 13, 2016 02:53 AM
Rainmaker
1,574,666
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Definitely not my job.  But is my job to match the buyer's target property with their loan. (If it is a VA loan then a fixer upper may not be worth the look!).

Jun 13, 2016 02:52 AM
Rainmaker
5,583,167
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's a job for the lending agent....they have a clear understanding of the products and the full picture of the buyers financial situation....

Jun 13, 2016 01:51 AM
Rainmaker
1,618,881
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I recommend a good lender who would be happy to help a borrower choose a right loan. 

Jun 13, 2016 05:27 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Minnette Olsen - real estate agent can be a 'connector'...

Jun 13, 2016 04:39 PM
Ambassador
3,159,584
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I have no issue with providing them with some great choices for lenders, but as for specific loan programs, that's the LO's job, not mine.

Jun 13, 2016 02:48 PM
Rainmaker
1,683,762
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

We point them in the direction of several or preferred Lenders and let them guide them in the loan possibilities.

Jun 13, 2016 01:02 PM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

I explain that my client needs to discuss this with their lender. Depends on what they are looking for in a home.  Some homes fit a criteria and the borrower does not & vise versa.  

Jun 13, 2016 12:44 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

We need to know enough to recognize if the loan doesn't fit the property or the buyer's needs. Then it would be time to have a conversation with the lender. Most lenders do an outstanding job of matching the product to the buyer's situation.

Jun 13, 2016 11:27 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not much...let the client know what loans will be accepted so the client can tell his or her lon officer

Jun 13, 2016 11:00 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

I am not familiar with the laws in your jurisdiction but in my jurisdiction that issue is out of scope.

Jun 13, 2016 09:21 AM
Rainmaker
2,817,660
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I think the agent's role is to recommend a good lender who will have the client's best interests at heart.

Jun 13, 2016 08:55 AM
Rainmaker
1,771,867
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I do not get involved with the loan process. I have a great mortgage broker who I pass customers on to.

Jun 13, 2016 08:29 AM
Ambassador
2,678,709
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 

  Hey!   Where are the ## signs?

   ## ??? ##

         

Jun 13, 2016 07:36 AM
Rainmaker
637,434
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Only to give them several referrals if they don't have a lender of their own. Helping choose the right loan? Although I have an understanding of what loans are available, I'm not licensed to make that choice for my client.

Jun 13, 2016 07:29 AM
Ambassador
1,073,876
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Referring them to a good LO that will make sure they get the best loan.  That's where the role ends for the agent.

Jun 13, 2016 07:08 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Not to advise. Don't overstep your duties as an agent. Let the lenders be your client's resource on loan choices.

Jun 13, 2016 06:50 AM
Rainmaker
897,438
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

None - it's up to them, their lender and their financial situation and outlook.

Jun 13, 2016 06:25 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Other than recommending a good lender, there is no role.

Jun 13, 2016 05:39 AM
Rainmaker
5,189,410
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Be prepared to offer advice if asked. Always ask if they have a pre-approval. If not suggest the lender you think fits their situation. Follow-up!

Jun 13, 2016 05:36 AM
Rainmaker
556,236
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

The agent's role is to sit back and be prepared to fix the nightmare that is getting ready to unfold in front of us when the buyer ignores us and uses their out of state lender.

Jun 13, 2016 03:25 AM
Rainmaker
1,497,848
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Thanks for not using the special characters!

The agent's role is to point the client to a trusted lender, if they don't already have one.  After that, it's up to the lender to have those conversations.  We're not qualified.

Jun 13, 2016 03:02 AM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Your only job is to point them in the direction of a mortgage lender that is competent.

Eve

Jun 13, 2016 02:51 AM
Rainmaker
908,238
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

We still use the MAP forms. Buyers choose, but we can mention why a lender they are thinking about using doesn't do 203K loans so might not work for that fixer upper you want to look at.

Jun 13, 2016 02:29 AM
Rainmaker
2,349,966
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

That is not my job and it wasn't my job before TRID

Jun 13, 2016 02:06 AM
Rainmaker
4,551,644
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

If asked for a recommendation, I will provide the name of a trusted lending partner.  

Jun 13, 2016 01:57 AM
Ambassador
5,031,267
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's not our job but the lender's. But we can help get them the names of lenders that can get the job done so they can choose

Jun 13, 2016 01:56 AM
Ambassador
2,159,863
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Not a role of the agent, unless the borrower asks for recommendations on potential lenders.  

Jun 13, 2016 01:54 AM
Rainmaker
4,848,614
Richard Weeks
Dallas, TX
REALTOR®, Broker

A good lender will recommend the best loan option

Jun 13, 2016 01:53 AM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

That is a decision the borrower will make; my job is to get the contract to the one they chose.

 

Jun 13, 2016 01:43 AM
Rainmaker
2,775,186
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I have lenders that I work with. I have them vet all borrowers and the loan decision is made between the lender & the borrower. Agent is not involved

Jun 13, 2016 01:39 AM
Ambassador
6,350,068
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Knowing which lenders and loan officers are likely to get the job done.

Jun 13, 2016 01:37 AM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Best of luck with your studies.

Nov 15, 2019 03:00 PM
Rainmaker
1,617,866
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I leave this decision between the loan professional and buyer.

Jun 18, 2016 08:38 AM
Rainmaker
3,415,644
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I would rather help them find a great loan officer and the loan officer helps them find the right type or mortgage

Jun 13, 2016 10:23 PM
Rainmaker
7,785,759
Roy Kelley
Retired - Gaithersburg, MD

Provide your best advice and refer them to an excellent mortgage loan officer.

Jun 13, 2016 09:56 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Zip. Zero. Nada!

Jun 13, 2016 09:47 PM
Rainmaker
5,095,966
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't advise on forms of financing. That is up to the mortgage lender. If my client wishes to discuss with me, I am available, but I don't opine.

Jun 13, 2016 09:16 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Minnette Olsen Our job is to give the client advice and the utimate decesion is theirs to make on who they choose.

Jun 13, 2016 05:27 AM
Rainmaker
1,231,822
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

I prefer cash buyers.

Jun 13, 2016 04:57 AM
Rainmaker
1,237,045
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The law has changed since your study materials were prepared around 1980s.

Loan is a regulated industry.  You send them to get preapproval.  Often I do some screening making sure they are OK. Before realtors did loan also.

Jun 13, 2016 03:27 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The recently implemented "DIRT" program has effectively kept the agent marginalize in all aspects of the lending process. Even the closing date and closing statements are held secret until the pain of correcting a lender mistake is too acute to pursue correction.

My role in the 'right loan' decision begins and ends with a question, "My lender or your lender?"

My lender will listen and we can talk.

Jun 13, 2016 02:02 AM