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First off thanks to any of the pros on here that respond. I will come back on here and acknowledge. I know it's frustrating to help someone on here and they never come back.
We have an agent who has a connection to one of our grown kids. This agent sees our son often and I know she (hopefully) has our interests at heart. But something she is doing goes against what we're being told by other professionals. She's trying to get us to use a lender she recommends and apparently uses often. She also wants us to use s home inspector she likes as well. We are using this agent to both sell our current home and buy one an hour or so away.
One of my wife's good friends of over 30 years is with a mortgage company and we've used her numerous times in the past with refinance and so on. We know she will look after us. We also have a home inspector who lives in the area where we are hoping to buy that a good friend recommends.
We've had several friends and professionals recommend we NOT use the ones being recommended by our agent for a variety of reasons. Anyone here have a thought on this and if you're an agent do you also recommend someone you like working with to your clients?
Again, we like our agent and we feel she wants what's best for us.
Nothing wrong with an agent recommending people she's had good experiences with. Nothing wrong with you choosing a different lender or inspector as long as they can get the job done. I'd be more worried about an agent who didn't know a good lender or a good inspector.
I deal with a lot of non-warrantable condos and I always suggest my non-cash buyers use a certain lender I have had experience with who can close loans on these difficult properties. The ones who insist on using a different lender of their choice almost always fail to close. Just because they've had a long relationship with a loan officer doesn't mean his organization will make that type of loan. He, of course, will tell them he can even if he has never encountered a non-warrantable condo.
The best practice is to provide three suggestions for each service provider or lender AND make it clear to the customer that they are free to use whomever they like. She is suggesting these particular ones most likely because she has a relationship with them based on trust and reliability, and nothing else. I've read concerns here by some that there could be something nefarious going on with agent recommendations, and I suppose it could happen, but I think most are exactly what I've said. Bottom line: use who you like.
For liability purposes, I never recommend only one person/company, whether it be a lender, home inspector or termite company. I give my buyers 2-3 lender names and about 5 home inspector names. I tell them to look at their websites and/or speak to the people and just pick one. Do I have some on the list that I prefer more than others? Yes ... but I know all of them will get the job done.
I don't think its unusual that this agent has certain real estate professionals she likes working with; I do too. I am concerned that you feel pressured to use those people. Its likely she's just really comfortable with these professionals and knows that when the inevitable bump in the road pops up that she can trust them to resolve it. Some people just have a blanket distrust of real estate agents and think we have a team of people ready to pull a fast one on a buyer/seller... So yes, likely she does have your best interests at heart and no, there is no harm in using the professional of your choice. "Your choice" cannot be overstated.
I give one name up front to most people.
With the comment that I know plenty more if that one doesn't appeal.
And the additional comment that they need to be comfortable, that I will work with any provider they might select, as long as that person is licensed for their activity and works within the bounds of ethical and legal expectations.
If the client hopes for good teamwork between the crew, it helps if the agent is included in much of the conversation.
I give one name up front to most people.
With the comment that I know plenty more if that one doesn't appeal.
And the additional comment that they need to be comfortable, that I will work with any provider they might select, as long as that person is licensed for their activity and works within the bounds of ethical and legal expectations.
If the client hopes for good teamwork between the crew, it helps if the agent is included in much of the conversation.
I recommend mortgage people based on the situation. I have four that work in various situations. I recommend a single inspector who I know is available for the particular job. I actually have two that I like and use the one who is best available.
This shopping list approach is not in the best interest of the client. Fiduciary duty does not allow for limiting liability.
I only offer candidates making it clear we will go to the clients preference if present. I have one client who has all his own services lined up with discounts. Gets terrible service actually but loves those discounts.
I call it The Big Stick. Let's say you found your lender online - you get the contract and the process is underway, or so you thought. One day, the lender is cagey with answers and you suspect a problem, but not sure what to ask or how to find out what is wrong. Your agent volunteers to make a call to find out what the problem is on your loan. They won't speak to her, let alone share what's wrong (or what they screwed up). If the lender is one your agent works with (or their office) on a regular basis, the threat of losing their business is always present. Chances are its a lender they see regularly and know how to reach Saturday at 8 PM when a lender letter correction is needed for you to be awarded the contract.
That's not to say your wife's friend cannot provide the same stellar service. Personally, once your Realtor knew you had someone, she should have backed off, especially if she has both sides of your transaction. I am betting she is a control freak and a micro-manager.
What I recommend you do is tell her if she cannot provide you with specific reasons why your lender or inspector should not be used (ie a sketchy reputation or she knows someone that had issues). If your wife's friend is with a big bank.....well, there are many reasons to listen to, and you need to feel comfortable your wife's friend can overcome those obstacles in a purchase environment. I would also ask your wife's friend to call the agent, introduce herself, and provide references that are also someone the agent already knows. (This is the first thing I do when one of my past customers is buying - I get their agent's name and number, call them and then email them references within their own office, if possible. The best offense is a good defense).
Most top agents have a team in place for control reasons. Nothing more. If *it* hits the fan, she carries the weight to get all players to kick in and hold the deal together. I've seen loans closed at a loss and title services provided at cost to keep the deal with the low appraisal on track for closing. If buyers are using folks unknown to the negotiators of the transaction, it won't happen and be filed under the cost of doing business.
But those are rare circumstances. Use who you know and do your best to assure your agent you have your own professionals behind you.
I assume that my clients have no contacts in whichever field that they need assistance in. The professionals I recommend are also a reflection of my business. I expect a high quality of service for myself and for my clients. This takes nothing away from professionals that the OP has used in the past. Use whomever you are comfortable with.
With mortgage lenders, I tell my clients whoever has the best rates doesn't always win as there is still a lot of work during the loan process but it sounds like you have had lots of good experiences with the lender.
CJ, Insider, Mike, Ivoc, Smart Money , and George all offered up what I would have said. No need to repeat it so I'll just second it.
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