Working with Loan Officers

**Cyno** · 09-01-2009, 05:22 PM

Hi all,

I wanted to get your feedback on an a project I am currently working on that involves a referral network site that connects real estate professionals with loan officers as a means to findind good, reliable LO's to handle your client's needs in getting financing.

Is this something that you would be interested in using and, if so, what would you consider an appropriate one time activation fee to have access to this service?

If you would not be interested in this referral network, please explain why.

I would appreciate any honest feedback and constructive criticism.

Sincerely,
Rick

**Greg** · 09-02-2009, 06:04 AM

Why would I pay a fee for a list of lenders? I have a phone book.

What makes the lenders on your site special, good or reliable except for the fact that they paid to be there?

**Cyno** · 09-02-2009, 09:13 AM

Greg,

I first want to clarify how this network will work.

The real estate agent will be able to make known to the LO's information about what qualifying criteria they are looking for in working with the LO's.

So, the LO's will see the real estate agents information and criteria and if they meet the criteria, they can make contact.

The agent can make first contact if so desired.

Now to answer your questions.

All real estate agents, and LO's for that matter, know that the old adage "Time Is Money" is very true. So, one advantage of using this network is that you don't have to go through a phone book and call random LO's that may or may not be interested in working with a real estate agent or buyer leads. The LO out of the phone book may not even be in business.

Furthermore, all the LO's on the network will have to apply for membership and answer qualifying questions before they are allowed access to the agents.

Some of the qualifying questions might be whether they currently or have ever had an official consumer complaint against them, if they have ever been disciplined by the Department of Real Estate or has their license suspended or revoked, if they are in good standing with the Department of Corporations, if they are a member of the BBB and if so, the rating, etc.

This information will be checked for accuracy.

If you have any other questions, please do not hesitate to ask.

Rick

**janice** · 09-03-2009, 07:29 AM

Do you have a site that will give us more info about what are you talking
about, I'm pretty much interested in knowing more about it

**Cyno** · 09-03-2009, 07:52 AM

Janice,

The website is still in Beta, so it is not live yet.

This is the stage where I am still shaping and molding the site to make the network as beneficial as possible.

Do you have any specific questions that I could answer for you?

I would be happy to hear any input or answer any questions.

Rick

**realboy0** · 09-07-2009, 07:53 PM

If the site is already finish,, Please post the link.. So we can see all the details that you are saying to us.. I'm sure that there are lots of people here are also interested..

**jerrydhawkins** · 09-07-2009, 11:22 PM

Sorry Man, but I have good loan officers walking through my door all the time begging for business. If it was ethical they would pay me a fee. I'm sorry but I see no potential....Keep after it though.