It is only a matter of time before the mortgage refinance tide goes out and we find out which lenders are well positioned to succeed in a purchase market. Our survey of mortgage borrowers revealed that having referral relationships with influencers, especially real estate agents, can be a key element for success. However, not every agent may be a willing and productive referral partner, and not all agents may want the same things in a relationship with a lender.
So how should lenders decide which agents to focus on? What matters most to agents? And how can lenders develop a winning strategy to attract agent referrals?
"Getting a Foot in the Door: Winning Purchase Mortgage Volume with Real Estate Agents," presents a national survey and in-depth interviews with agents and their customers to understand their needs and garner additional insights. Combining our own interpretations and recommendations, we point to ways lenders can win agents’ referral business.