{"id":18696,"date":"2022-04-14T15:36:30","date_gmt":"2022-04-14T22:36:30","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=18696"},"modified":"2022-04-11T16:39:56","modified_gmt":"2022-04-11T23:39:56","slug":"lenders-can-help-realtors-get-offers-accepted-in-a-competitive-market","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18696\/lenders-can-help-realtors-get-offers-accepted-in-a-competitive-market\/","title":{"rendered":"Lenders can help Realtors get offers accepted in a competitive market"},"content":{"rendered":"

Most buyers find themselves in a multiple offer situation in today’s market.\u00a0 While the highest price often wins the home, other factors come into play–some buyers are waiving appraisal, loan, and even inspection contingencies.\u00a0 Selling agents who want to protect their buyers, while affording them an “edge” against competing offers, are encouraging listing agents to contact the lender directly.<\/p>\n

We think you can be more proactive than that.\u00a0 Here are five tips for Realtors about how to use a great lender to get your offer accepted:<\/p>\n

1- Use a reputable mortgage broker, not a lender.<\/strong>\u00a0 (see why here<\/a>) Both the originator<\/a> and the mortgage company<\/a> should have review pages, whether they are on Yelp, LinkedIn, or Lending Tree.<\/p>\n

2- Use a loan officer with exceptional communication skills.\u00a0 If you want to test those skills, call him\/her.\u00a0 If he or she doesn’t answer the phone, leave a voicemail and send a brief text.\u00a0 If you don’t get a text back or return call within an hour, you have the wrong guy or gal.\u00a0 That includes weekends.\u00a0 YOU work on weekends; so should loan officers.<\/strong>\u00a0 You should expect the originator to be responsive, Monday through Friday, 830AM to 7PM and 12PM to 5PM on Saturdays and Sundays<\/p>\n

3- Make sure your buyer is pre-approved rather than pre-qualified.\u00a0 This means that the credit has been pulled, income and assets were analyzed and verified, and the file has DU approval findings in it.\u00a0 The pre-approval letter should address all of those issues<\/strong> in the body of the letter.<\/p>\n

4- Have the originator call the listing agent<\/strong> and offer to do the following:\u00a0 speak with an originator the listing agent trusts, to review the loan approval or, if desired, speak directly to the seller.\u00a0 The originator should speak frankly and honestly about the contingency removals iin the contract and explain which ones might be difficult to meet.\u00a0 Be wary of the originator who makes promises which he\/she knows can’t be kept.\u00a0 Underwriting approval time is easily determined but the originator has little to no control over the appraiser.<\/p>\n

5- Have a plan to deal with a low appraisal<\/strong> and have the originator Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Most buyers find themselves in a multiple offer situation in today’s market.\u00a0 While the highest price often wins the home, other factors come into play–some buyers are waiving appraisal, loan, and even inspection contingencies.\u00a0 Selling agents who want to protect their buyers, while affording them an “edge” against competing offers, are encouraging listing agents to […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,5],"tags":[],"class_list":{"0":"post-18696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1964,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1964\/can-the-nar-improve-a-buyers-financing-experience\/","url_meta":{"origin":18696,"position":0},"title":"Can the NAR Improve a Buyer’s Financing Experience?","author":"Brian Brady","date":"September 23, 2007","format":false,"excerpt":"Realtors have to stop complaining about the sorry status of the lending industry. Why? They have the power to make a difference but refuse to take action. I have often heard the Realtors' cry for licensing of loan originators and a plea for lending advisers to adopt a fiduciary capacity\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1555,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1555\/subprime-lending-fallout-goes-upstream-to-take-down-two-major-hedge-funds-what-does-this-mean-to-real-estate-investors\/","url_meta":{"origin":18696,"position":1},"title":"Subprime Lending Fallout Goes Upstream to Take Down Two Major Hedge Funds: What does this Mean To Real Estate Investors?","author":"Cooksquared","date":"June 20, 2007","format":false,"excerpt":"Two major Bear Stearns Hedge Funds face foreclosure due to their significant exposure to the subprime lending market. While this does not fall under the category of real estate investor, I spent last summer working for Bear Stearns and interacting with many of their hedge funds. Based on the very\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3874,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3874\/a-proposal-to-improve-mortgage-lending\/","url_meta":{"origin":18696,"position":2},"title":"A Proposal to Improve Mortgage Lending….","author":"Tom Vanderwell","date":"August 13, 2008","format":false,"excerpt":"Since there are a variety of licensing, regulation, education, criminal background check proposals bouncing around in an effort to clean up the mortgage world, I thought I'd throw out my own proposal on how to improve mortgage lending. I'm proposing that as part of the training for becoming a mortgage\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1401,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1401\/realtors-can-pre-qualify-buyers-if-a-lender-isnt-handy\/","url_meta":{"origin":18696,"position":3},"title":"Realtors Can Pre-Qualify Buyers If A Lender Isn’t Handy","author":"Brian Brady","date":"May 9, 2007","format":false,"excerpt":"It's Sunday afternoon and the Phillies game approaches the top of the ninth inning. You, the professional Realtor, look at your watch and notice it's 3:40PM. You'll be locking up the door, uprooting the signs and heading home after a long afternoon at a particularly slow open house. You can\u2026","rel":"","context":"In "Podcast"","block_context":{"text":"Podcast","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/podcast\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17763,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17763\/real-estate-agents-may-work-against-buyers-interests-with-shortened-contract-contingencies\/","url_meta":{"origin":18696,"position":4},"title":"Real Estate Agents May Work Against Buyers’ Interests With Shortened Contract Contingencies","author":"Brian Brady","date":"January 22, 2021","format":false,"excerpt":"If you are reading this, you are probably a real estate agent or broker.\u00a0 Most of the people who read Bloodhound Blog are industry folks rather than consumers.\u00a0 Consumers DO read Bloodhound Blog but, all in all, our audience is mostly comprised of the industry grunts who show or list\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8261,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8261\/why-dont-realtors-solicit-lenders-for-buyers\/","url_meta":{"origin":18696,"position":5},"title":"Why Don’t REALTORS Solicit Lenders For Buyers?","author":"Brian Brady","date":"May 6, 2009","format":false,"excerpt":"REALTORS constantly solicit banks and mortgage lenders for REO business.\u00a0 Why isn't the producing REALTOR, as a matter of course, soliciting business from loan originators? I posed this question at Unchained Phoenix '09 and you would have thought I asked the REALTORs to walk on coals...at first.\u00a0 A few bright\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=18696"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18696\/revisions"}],"predecessor-version":[{"id":18697,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18696\/revisions\/18697"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}