Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at firstname.lastname@example.org.
In some areas, loan officers can also work as real estate agents. Here's why that's not usually a good idea
Some states allow loan officers to work as real estate agents as well. Should you do both?
If a real estate agent asks for a referral fee, he's probably either unethical or uninformed. And if he truly needs referral fees to make a living ... well, he's probably not very good at his job
There's a reason RESPA doesn't allow "referral fees" -- increased costs to the consumer
If you're working inside a real estate office, you have the opportunity to differentiate yourself from 'outside' loan officers
You need to show your real estate agent partners that you give great service and are there to help them do more business
If the loan officer served a real estate office poorly, how do you convince them you're different?
When marketing to real estate agents, many originators make the mistake of talking about what they are interested in -- when they should focus on the agents' interests
If you're a new originator, where should you focus your marketing efforts?
Hopping from company to company can be a recipe for disaster. Top producers tend to stay where they are for the long term.