Last night I had someone (who I thought was a client) email me stating:
"I appreciate your time and help with this thus far, but we’ve decided to go with a different source for our mortgage needs.
We feel going with someone more local to our area and whom already has a working relationship with our realtor is best for us. I hope you understand and again, thank you"
Fact is…I don’t understand at all.
I’ve met with this couple personally twice thus far and we have countless emails and phone calls back and forth at all hours of the day. I have them preapproved for their mortgage which is a 10% down jumbo that I structured the financing to obtain the best rates for them by structuring a conforming first and second combo. I have guided this couple and provided them with a strategy for buying their next home together. I have met every one of their mortgage needs.
They hooked up with a real estate agent who used my preapproval letter to secure their home and then did switch-a-roo to her preferred Loan Originator. It’s a sneaky snakey pass off when everything has been done. It’s steering the customer.
How would their real estate agent feel if I would have steered the buyers to another agent that I work with after she has invested the same amount of time with her? Whenever she called me, I responded immediately. I never gave her a reason to have doubt in my abilities as a Mortgage Professional. This is all about steering to her preferred lender. I wonder if it’s one their company has an interest in? I also wonder how the Listing Agent would feel if they knew that the lender who wrote the preapproval letter that was presented with the offer is not the lender being used for financing at this stage in the game? Should a Loan Originator retract their preapproval letter in this situation? Obviously, I’m not use to someone doing this to me and I’ll get over it. It’s simply not how I treat people.
I’m not sure if my bigger beef is with the real estate agent or the buyers.
Why should I understand? I don’t.