man-woman-meet-friends-doing-business WHY A LENDER’S NAME & REPUTATION MATTER

    We recently received the below note from a buyer’s agent. We should hire her for all of our marketing because this single note says it all :)

    “You know, our offer was accepted because of you guys. The listing agent knows how good you are and it really helped us get into contract. Originally Nick and Gina were using Rocket Mortgage and I suggested that they at least get pre-approved with you because of the competitive market they were in. This is why they will be moving into their new home this weekend!!!”

    The above note drives home the point that lenders are not commodities; a lender’s name and reputation very much matter when buyers are making offers.


    A few weeks ago, Heejin was meeting with a gentleman who partially owns and manages a large real estate firm. Heejin sold him on all of our value propositions, and he was duly impressed. He very honestly admitted that his current lender could not match any of JVM’s value props because his loan officer did not have a team or the necessary systems (his rates were higher too).

    But this is the good part: The manager then told Heejin that despite his loan officer being inferior in all categories, they were all going to keep using the loan officer because he owned a boat. I am dead serious. Apparently, the loan officer was a really nice guy and all the agents loved going out on his boat.

    In other words, a lot of buyers suffer with inferior service and fewer offers accepted because a loan officer has a boat.

    Heejin was amused by the manager’s candor, and quickly moved on. But the message from the manager was clear: boats trump service :) (at least in his office).

    We are all for referring clients to friends, but only if they offer the best service. In this ultra-competitive day and age, the best service and reputation matter more than ever.

    Jay Voorhees at (925) 855-4491
    Real Estate Broker, CA Bureau of Real Estate, BRE# 01524255, NMLS# 335646

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