The Broker Relationship – REALTOR panel emphasizes key connection between mortgage brokers and REALTORS
The Washington Mortgage Bankers Association (WMBA) hosted a panel discussion last night at the Woodmark Hotel in Kirkland. Four representatives from Seattle King County REALTORS® answered questions submitted by WMBA, moderated by Jillayne Schlicke of CE Forward. The panel included REALTORS® Rachel Adler, Windermere East, Michael Ford, Realogics Sotheby’s International Realty, Tere Foster, Avenue Properties, and Terry Miller with Coldwell Banker Bain Lake Union.
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“The relationship with the REALTOR® community is so important to our own community and what we do so we’re very happy to have the panel here today,” said Tony Blodgett, WMBA President as he welcomed the guests and helped introduce the panel.
Michael Ford agreed, stating “The loan originator (LO) is one of the most important people in our sphere. You are really the key to us succeeding.”
When asked by Schlicke how a loan originator just getting started in the mortgage industry can start to develop relationships with REALTORS®, Rachel Adler said “…being persistent is key. I give LOs a chance to call me back and if they don’t, I know it’s not going to work out. So be persistent!”
Tere Foster emphasized “the main thing for us is communication and honesty. We put the client first so do not over promise and under deliver.”
All members on the panel agreed that you cannot survive in this business as a REALTOR® or mortgage broker without building relationships in person. They all concurred that the best way to start building those relationships is to pick up the phone. “You’d be surprised at the number of people pleased to hear from you in this day of digital,” said Terry Miller.
Everyone in the room agreed that appraisal issues are hindering all aspects of the homebuying process because of the increased cost and the difficulty of timely scheduling. . “We need more appraisers in the field,” said Ford.
Moderator Schlicke asked about the REALTOR Code of Ethics and why it’s important for REALTORS®. “We’ve succeeded in this business because we have a Code of Ethics. Honor, integrity, commitment, and financial responsibility are what we stand for. Our clients look to us as the experts in this business and we’re accountable for our actions,” said Ford.