Mortgage brokers lead all other lenders when it comes to being real estate agents' preferred partners, according to the results of a survey from real estate information firm Inman.
Mortgage brokers were the preferred choice of 47% of real estate brokerage executives and agents, followed by banks (31%) and nonbank lenders (22%). When it comes to choosing a partner, real estate professionals cited cultural fit and range of products as the top considerations, according to the survey.
Still, barriers remain for lenders looking for real estate partnerships. Over 40% of respondents said current regulatory changes made it less likely for them to pursue a new partnership.
And for those real estate agents and brokers who have a partner, chances are they're not looking for another. More than three-quarters of respondents said they only refer clients to one lender partner.
So what are the keys to a good partnership? For starters, lenders can begin to give their real estate partners leads. While 79% of agents said they don't get leads from lenders, the vast majority of those individuals said they would like to.
Furthermore, to get an agent to recommend a lender, speed, product variety, a credible reputation and strong communication were the leading factors.
