Navigating the real estate industry is challenging if you don’t have the right people on your side. Throughout your career, you’ll meet certain people who can help you move further towards your goals.
When you’re looking to work with mortgage brokers, you must know a few things to maintain a healthy and beneficial partnership with them. Here are a few tips for fostering relationships with mortgage brokers.
Mortgage brokers want to see that you pay on time, manage a healthy credit score, and create positive relationships with other professionals when viewing your financial history. This means you must be responsible with your time, effort, and finances.
When a broker sees that you’re responsible, they’re more willing to approve your loan amount. Of course, this goes hand in hand with creating trust with your brokers as well.
You must create trust to have a healthy professional relationship. You can do this by doing something as simple as showing up to your meeting when you said you’d be there—showing up 15 minutes early will make you look even better.
By doing what you say you’re doing to do, you’re showing your broker that you can be trusted with their time and money.
When you’re preparing for your meeting with your mortgage broker, there are a few things you should never say when applying for a loan. Remember, your financial history may look great on paper, but if you say the wrong thing, you could doom yourself and get your loan denied.
For example, don’t ask your broker how much you can borrow. This is important, especially if you’re looking to purchase property, but it may make you sound uninformed and unprofessional. Do your homework to determine exactly how much you need and only apply for that amount.
Keep in mind that if your mortgage broker takes part in a broker referral program through Val-Chris Investments, Inc., they may be able to offer you a better financial package than you’d initially planned. Think twice before you speak!
As you network, the above tips for fostering relationships with mortgage brokers will enable you to look more professional and trusting, which will benefit you in your real estate career in the long run.