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Tuesday, March 24, 2009

Real Estate referrals, should you trust them?




I've heard and even read a few times not to use a real estate agents referrals to attorney's, home inspectors and mortgage brokers. I don't know how this idea started, but I'm guessing someone probably had a bad experience and one or two bad apples spoiled it for the rest -- unfortunately, not uncommon I will admit. However, I'll share an experience here. And I hope you understand the thought process behind this.
I recommended, as usual, a trusted mortgage rep that I refer over and over again, that I also used personally to purchase my condo. In over 3 years he has never gone wrong. He has always delivered what he promises and closes on time, plus no sneaky points or weird fees. Now, take it from me, when you find a trusted professional like this - you hold onto it - especially in my business. It is important for me to do right by my people, to me a sale is not just a sale, it is a relationship, and you should be able to trust those you work with - if not - don't work with them. But I digress, my customer went with a trusted referral from a friend to use a different mortgage company and rep - whose name I will not divulge. And I was not upset with her. Anyone would do the same thing... I won't be specific as to how many things went wrong and the complete unprofessionalism demonstrated by this, gentleman. From completely misplacing documents to disappearing and delaying closing by more than 2 weeks.. etc etc If all goes well, my customer will have bought her first place, and can move on from the stress and enjoy her beautiful condo. She has expressed her regret and now she, her attorney (who I also reccomended) and I, all dislike this guy.
If you receive a referral from someone make sure that they personally, have used their services and ask them what went wrong during the process? What should I expect? What did he or she charge you? Please think twice to use someone that has not been tested. Especially today in these times, it is even that much more important to be able to get a hold of someone on the phone, receive accurate information and work with someone who will deliver what they promise. People are hungry and will say anything to get your business. Sadly, not only that - but they will try to make money on you by sneaking in fees. If you trust your real estate agent, and they have used the professionals that they refer please please strongly consider them. It could be the difference of a great experience, versus one that could go terribly sour. The last thing I want is for someone to tell me that they had a bad experience with someone I put my name to. Instead I feel good knowing my customer is happy and will refer not just me to their friends and family but the same people I referred them. :)

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