No Broke Months For Salespeople - The Importance of Syncing up With Your Lender

Episode Date: January 21, 2024

The Importance of Syncing up With Your LenderReal Estate Coach Dan Rochon from No Broke Months for Real Estate Agents discusses coordinating with your lender.Dan explains that it is essential always to make sure to be on the same page as your lender so that you can make sure that no unnecessary issues can occur.Learn why this is important in the latest No Broke Months for Real Estate Agents episode. To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

For me, I want to play the game of odds and I want to be working with the, you know, different 20 people that all go say, I'm going to go to the lender. Your odds increase dramatically. Okay. So there's a little bit of a yin and yang and we want to respect each other, right? But you want to have a relationship with a lender that has an intention to be able to call quickly. Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step

system so that every month is No Broke Months. My name is Dan Rochon. I'm the host of the No Broke Months podcast, which is a show for real estate agents to help you have no broke months. Thanks for joining me. Enjoy the show. The importance of syncing up with your lender. Real estate coach Dan Rashan from No Broke Months for Real Estate Agents discusses coordinating with your lender. Dan explains that it is essential always to make sure to be on the same page as

your lender so that you can make sure that no unnecessary issues can occur. Learn why this is important in the latest No Broke Months for Real Estate Agents episode. One of the challenges that you have today with technology is that oftentimes you're going to get a buyer who it's common that and more common today than was years ago that, yeah, I just want to see the home. My credit's great. My income's great. I understand that. And my experience has been very, very seldom does that buyer ever get to closing.

Okay. And so you have to look at this from a global 30,000 viewpoint. Okay. If you have 100 buyers here and 20 of them say, I'm not going to talk to a lender because I don't need to, I want to find the home first. Odds are at least 19 out of those 20 will never get to the finish line. So when you get that, you've got to make a business decision of how you handle it because you got a really, really low shot. One out of 20 that they're going to actually get to the finish line,

as opposed to somebody that actually talks to a lender. Now they may or may not be able to get qualified yet. You at the very least know you have a serious buyer when they're willing to have that conversation. For me, I want to play the game of odds. Okay. And I want to be working with the, you know, the 19 out of 20 of those, you know, a different 20 people that all go say, I'm going to go to the, to the lender, your odds increase dramatically. I'm not telling what you do in your business

in that regard, but consider it highly. There's an opportunity cost for working with those 19 that will never close. And what's that opportunity cost? You can't go find the other 20 that will. That's the opportunity cost. And there's also sometimes a financial cost as well. So again, speed to process, speed to process, speed to process. Your expectation of your lenders, you call at the very first instant that you can. Does that mean that you want the lender to drop the ball if they're in a meeting? No. But do you want them to make the call the second that their meeting's over? Yes. Does that mean that you want them to make the call the second that their meeting's over? Yes. Does that mean that you want them to call at 10 o'clock on a Saturday night? No. But do you want them to call on a Monday morning? Yes. Okay. So there's a little bit of a yin and yang in the,

you know, you have to, we want to respect each other, right? But you want to have a relationship with a lender that has an intention to be able to call quickly, that has the understanding of the vitalness and is as hungry as you are in regards to the conversion of the prospect into a qualified buyer. Okay. And interesting enough, I've met very, very few lenders in my lifetime that or my career rather that that meet those criteria. Which is an interesting thing. I do have lenders today that do meet those criteria. You know, make sure that you're on the make sure with the buyer that you're skillful to get them to use your lender, because if you depending on how much volume of business that you're doing, but even if you're doing two or three transactions a year on a buy side, that's two or three commissions for the for the lender. You know, they don't want to screw that opportunity up. Hopefully you do more than two or three. Thanks so much for listening to the No Broke

Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life, and go find a listing.