Scott Jordan, Real Estate Investor in St Louis and Southern IL (D and S Premium Homes, Inc.)

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Rainmaker
4,120,419
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Since I don't do open houses, the answer is no. The problem is that the mortgage brokers I use most often are too busy for such events and I wouldn't want an "unknown" entity representing me in this regard.

Aug 24, 2016 12:26 AM
Rainmaker
849,960
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No, not really a good use of loan officers time in most cases. Some listings i have done it if the loan officer wanted to be there. It's case by case. It could be a good security precaution to have agent and loan officer at open.

Aug 24, 2016 12:26 AM
Rainmaker
797,107
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

I'm not a fan of a loan officer at an open house.  I think it intimidates the buyers.

 

Aug 24, 2016 12:45 AM
Rainmaker
919,973
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I've tried this in the beginning yes, now they no longer come to open houses

Aug 25, 2016 12:45 AM
Ambassador
4,581,641
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

No. I'm not sure it's the best use of their time and the opportunities could be pretty limited, but it could depend on the property

Aug 24, 2016 12:37 AM
Rainmaker
1,153,975
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Most succesul mortgage people need a break. However, they always can find a loan officer looking for more business.

Sam

Aug 24, 2016 12:23 AM
Rainmaker
4,101,851
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I don't but I don't mind sharing the information of a reputable mortgage partner.  Possible financing scenarios on the property, their brochure or some interesting mortgage information.  

Aug 27, 2016 12:27 AM
Rainer
222,865
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

I wish they would.

Aug 25, 2016 02:37 AM
Rainer
231,919
Jessie Cochran
Counts Real Estate Group, Inc. - Panama City, FL
Panama City Realty Group

We've done this in the past

Aug 25, 2016 01:21 AM
Rainmaker
4,016,026
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I always have a lender at open houses.

Aug 24, 2016 11:30 PM
Rainmaker
4,212,856
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

No, in my experience it has been a waste of the LO's time.

Aug 24, 2016 10:38 PM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Aug 24, 2016 09:36 PM
Rainmaker
3,985,875
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

No. Most LO's hate opens as much as I do

Aug 24, 2016 01:01 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have in the past at really big open houses. It worked out well and I enjoyed the company.

Aug 24, 2016 12:51 PM
Rainmaker
2,442,558
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I think this would have been a good thing to do about 15 years ago. I do not know of many agents who even do open houses now.

Aug 24, 2016 12:41 PM
Rainmaker
1,991,358
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

yes - I am lucky that I like my lender and he is wonderful

Aug 24, 2016 12:24 PM
Rainmaker
1,387,628
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Pre-quals need documentation to be any good.  No buyer is going to come in with 3 years of tax statements and 3 months of paychecks.  I don't have lenders come to open houses.

Aug 24, 2016 07:41 AM
Rainmaker
795,932
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
The Michelle Thomas Team

I have had them stop by, but not set up for the entire day. I would find it to be a distraction if it wasn't a large turn out.

Aug 24, 2016 07:39 AM
Ambassador
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Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have seen this done in my market. It works.

Aug 24, 2016 06:04 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Sounds like a good idea Scott, but most lenders that I know are very busy people.

Aug 24, 2016 05:51 AM
Ambassador
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Scott - Back in the day - way back - that used to be a decent strategy, but we don't even do many open houses anymore.

Aug 24, 2016 04:49 AM
Rainmaker
1,157,485
FN LN
Toronto, ON

Some agents do this.

Aug 24, 2016 03:25 AM
Rainmaker
2,642,112
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When I was sitting tracts, Yes we had a loan officer on site right there & then

Aug 24, 2016 03:14 AM
Rainmaker
290,569
Allie Angeloni
Long Realty - Oro Valley, AZ

No, we have not done this at Open Houses in our niche, which is an age-restricted community.  Here, about 40% are snowbirds, meaning this is their second home, and they are using discretionary income.  I see few loans, and it's usually not because they don't have the funds/cash, it's their preference Scott Jordan.  Alot of sales are cash. 

Aug 24, 2016 02:36 AM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

I have done it, but not lately.  Make sure that you both comply with RESPA.

Aug 24, 2016 01:46 AM
Rainmaker
1,723,405
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

No that used to be an old practice but then you are describing a different 'open'. NC has their own rules which I do not sell - only resale & LO's don't want to waste their time.

Aug 24, 2016 12:53 AM
Rainmaker
5,590,213
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Scott,

It could be helpful and it could be off putting.  It depends on the marketplace, so it is really hard to give a definite answer.  A

Aug 24, 2016 12:28 AM