As a lender in Woodbridge, VA, most of my business comes from Realtor referral and I truly appreciate the confidence they place in me to help their clients and ultimately place their commissions in my hand.
Recently I had a nightmare transacation which could have gone much better with proper communication and understanding of the lending process by the agent. Although we made it to closing the unreasonable promises and contigencies told to the buyer, left me spent in the end. And it left the buyer with no true understanding of the buying process, several times the deal was dead and had to be revived with all the blame being placed in my lap.
With so many phases and contingencies in a real estate transaction it is always better for buyers, to work with an agent that has knowledge and experience to guide them through the process.
Currently I am processing a loan for what would seem to be a slam dunk transaction...conventional loan, high credit scores, twenty percent down payment, and plenty of reserves.
But of course the transaction hit a snag with the appraisal and an unreasonable seller. This could have easily turned into a nightmare but the Realtor's experience and knowledge kicked in to keep the process moving forward. I shutter to think what would have happened with the first Realtor mentioned.
Buyers beware all Realtors, just like Lenders, are not created equal...Caveat Emptor!
Thanks Peggy James with for doing your job and doing it well. It definitely makes my difficult job easier. I believe in Teamwork!