A new survey of over 500 Realtors by Freddie Mac shows that most real estate professionals have a lot of influence over their clients, such as what mortgage lenders they use to purchase a home.
According to the survey, the Realtors recommend to their clients a select group of mortgage lenders which they choose those firms based on how easy it is to do business with them, their reputations, and the strength of those relationships.
Freddie Mac found that 84% of the Realtors surveyed have a small group of lenders they work with that they refer their clients to. Of these, 73% have 1-3 lenders in their network and 24 percent work with 4-6 lenders.
The survey showed that when a Realtor recommends a lender, more than three-quarters (76%) say their clients always or often use their recommended lender referrals. This figure climbs by over 10% to 87% when that Realtor sells more that 20 properties a year.
More than 80 percent of real estate professionals said their clients trust their knowledge of the area, their ability to help them find a home, and their ability to show them the right homes for their needs. Seventy-eight percent see themselves as an advisor capable of assisting clients with their navigation of the homebuying process, according to Freddie Mac.
“The survey reaffirms just how important real estate professionals are to families throughout the homebuying process,” said Jeffrey S. Markowitz, Freddie Mac’s Vice President of Government and Industry Relations. “We want to help them clear the path to the closing table by providing information that may allow them to provide even more options to their clients and grow their business.”
You can read more of the survey by Freddie Mac at this link.