Tie
I remember telling a lender that I liked his tie. That was back when I worked through one of those big box brokerages that promoted the idea of being full service. A home buyer could get a home loan, a real estate agent and title work all under one roof. They called it one stop shopping. In some cases buyer would start with the lender and the lender would throw in a “complimentary Realtor” along with the loan application. I wanted to be that complimentary Realtor so I worked hard to impress upon the lender how complimentary I can be.
Buyers did not understand that real estate agents are independent contractors and we work for free until someone buys a home and the sale closes. The buyers agent is paid for by the sellers if those sellers have their home listed through a Realtor. I should muddy the waters and point out that real estate fees are in the price of the home that the buyer is paying for.
It is important to shop for a lender and a real estate agent and the right title company for the title work and closing. There is no advantage to a buyer or seller in having it all under one roof because chances are you won’t even go to that place or ever be under that roof anyway. The system is just a way for the big companies that provide what we call “ancillary” services to sell those services.
If you are looking for a complimentary Realtor I would like to point out that you look marvelous today. Have you lost weight? Who does your hair? I like your shirt and that color looks amazing on you.
If you are looking for a Realtor . . . LOL I crack me up . . give me a call or ask your friends, neighbors or family members for a recommendation. You do not need to just go with the complimentary agent furnished by the mortgage lender.
Isn’t there some value with a title/closing company that the realtor is has worked with in the past?
absolutely there can be value in getting a recommendation from a Realtor and I can tell you I know who does a good job and who does not.
The same advice is useful when locating a lender. Just because your Realtor works with a certain lender does not mean you have to use that lender. Shop around and ask friends and family for referrals.
absolutely!
Are you as funny in person as you are on your blog?
Love it!
Maybe. 😉
Well put! Back in the days when I use to sell for one of those big box brokerages, I used to drive them nuts because I wouldn’t use their “ancillary” services. Love the wit.
This is a thoughtful & informative post for the Buyer. This is also helpful for the Real Estate Companies and agent too. I got some useful tips from this article. I like the ‘All in one – Home buying loan, get an agent & title work package’. Thank You Teresa Boardman for posting a fantastic article.