A recent survey commissioned by Freddie Mac underscores just how important the relationship between real estate agents and mortgage lenders continues to be.
According to the survey, 84% of real estate professionals have a select group of lenders to which they generally refer their clients. Of those, 73% have one to three lenders in their network, and 24% work with four to six lenders.
Importantly, more than three-quarters (76%) of real estate agents say their clients always or often use the lender that’s recommended. This figure climbs to 87% among those agents who sell more than 20 properties per year.
More than 80% of the real estate professionals surveyed say their clients trust their knowledge in the area of real estate finance and which lender to choose.
At the same time, about 50% of mortgage professionals say they are somewhat less confident when it comes to educating buyers on the mortgage process. Even fewer – only 30% – say they are confident in providing advice to clients on down payment assistance.
The survey also reveals a wealth of information regarding how well educated borrowers are concerning the home buying process before entering into it.
“The survey reaffirms just how important real estate professionals are to families throughout the home buying process,” says Jeffrey S. Markowitz, vice president of government and industry relations for Freddie Mac, in a statement. “We want to help them clear the path to the closing table by providing information that may allow them to provide even more options to their clients and grow their business.”