Summary:
In the mortgage industry, loan officers heavily rely on buyer agent referrals to generate business. However, if buyer agents become less prevalent, loan officers will face the challenge of establishing new relationships with listing agents, which has traditionally proven difficult.
Key points:
– Buyer agent referrals: Most successful loan officers in the mortgage industry depend on referrals from buyer agents to bring in new business.
– Potential decline in buyer agent prevalence: If there is a decrease in the presence of buyer agents, loan officers will face the need to find alternative sources for referrals.
– Establishing relationships with listing agents: Loan officers would be compelled to develop connections with listing agents as a means to generate leads and referrals.
– Historical difficulty: Building relationships with listing agents has historically been a challenging task for loan officers.
– Need for adaptability: The shifting landscape of real estate may necessitate loan officers to adapt their strategies and approaches to forge new relationships with listing agents effectively.
You can read this full article at: https://www.housingwire.com/articles/opinion-sitzer-burnett-decision-presents-an-uncertain-future-for-buyer-agents/(subscription required)
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