I have formed an alliance with my prefered lender. My clients get closing cost credits , no appraisal fees , no origination fees. They are now looking to put a mortage officer in my office and pay me a rental fee. Not a lot of leads from them but the ones I did get were their pre approved clients looking to buy in my area.  I closed 4 deals this year from their referals. This is from a major bank not a mortgage broker. Mortgage brokers seem to try and work with as many realtors as possible therefore there are not many leads. Maybe you should tell your lender you expect some referals as you are sending them your clients.

Good luck!

YES! Big time. We tag team a lot. If I have people and they can help, we hook them up. If they have people and need a broker, they call me and I send them listings. I love that because I don't have to arm wrestle the client into getting preapproved. Even better when they arrive that way, announced.

Yes.  And one I work with quite a bit (he has done all 5 of my personal loans, since I started buying houses) does marketing newsletters to our past clients and adds us to his marketing.  I know he has other realtors and he adds their marketing information to their past clients.  But it it is one more way for our face to be out there!!  He keeps bugging me to get my NC license so he can send NC business to me.  I guess I gotta do it.

Shelly

My preferred lender is in another county.  However he did put us on his companies preferred agents for REOs.  I would still use him regardless!  They will not lie to the client, they can get the job done in record time if necessary. They have great programs, and little costs and you can reach them day or night and even on the weekends!  

Jana

I think in the New Mortgage Broker Handbook it says to go out and solicite Realtors.  I get bombarded with Mortage brokers wanting me to send them business.  Anymore, I tell them that it is a 2 way street and if they send me business and I like the way to work, I will send them business.

As far as my preferred lenders go, YES they do send me business.  I would not deal with them if they did not.  Secondly, I take it as a complement when a Mortgage Broker sends me a lead.  I know they work with a lot of Realtors.

I don't expect my preferred loan officer to send me clients. If she does, great! If she doesn't ... no big deal. I know she works with a lot of other agents and we can't all expect to get business from her. She does a great job servicing my clients and I know I can count on her. A lot of closed transactions I've had wouldn't probably happen if she didn't give it her very best. I consider her a part of my team ... and as such, she is indirectly responsible for the referrals I receive in the future from our clients who were happy with our service.

Keeping in mind that any lender will likely have many agents who they work with, you can expect the return to be limited, but I would expect some return. Talk to this person frankly and let them know that you'd like the odd referral.

Now, a question within the question (this is kinda like Gloria's post about the hairdresser, be ready LOL):

What if your preferred lender featured themself in a magazine ad or on a billboard with an agent in a coop ad--and that agent is from a different office?

Would you still send them business or would you worry they would be siphoning it off to their NBF?

Just one of those 'inquiring minds' thingies . . . manic Monday . . . ;)