Real Estate Relationships in Marlton

As a realtor and someone who has owned and managed small businesses, I'm regularly reminded of how important it is to build solid business relationships.  As a small business owner I regularly had to deal with suppliers and vendors and make decisions on who I used based on the relationships and service those vendors provided me.  If a provider wasn't meeting my expectations it was up to me to follow up and get satisfaction.

Over the last 2 weeks I was involved in a couple of real estate transactions that reminded me again how important it is to follow up with providers and to choose them carefully.  In one of those transactions I was representing a buyer who was referred to me who was already working with a mortgage provider.  Unfortunately, this mortgage agent was less than thorough.  The buyer was put through many last second hoops including repeatedly needing more documentation right through the last week before settlement and then the final HUD was provided way after legal deadline.  The mortgage person made a mistake in their good faith estimate and was trying cover it up.  Thankfully, laws require the mortgage company to pay the difference when their good faith estimates are too far off.  The closing agent and myself are filing complaints about this provider but more importantly everyone in my office knows about this occurrence and I can guarantee NO ONE will use this provider again.

The second transaction had me representing the seller and the buyer's agent was using an in house title company.  Although there was nothing wrong with their work, they worked very differently than the independent companies I usually use.  Many parts of the transaction that I would normally expect the buyers title company to take care of were left to our side to follow up on with no communication of what they were not going to be taking care of.  Although the transaction went through without any problems, it did cause greater stress and last second work that could have been avoided.   What is the lesson here?   Regardless of whether you are a realtor or regular consumer, don't assume anything when dealing with providers...especially ones you don't have an established relationship with.  Ask questions, determine EXACTLY what the provider is going to do and when the are going to complete it.   Build your real estate relationships with companies that are consistent with their service and results.  If a provider is causing you to lose confidence, don't be afraid to use someone else.  Your money and reputation is ultimately on the line.