Some would say it’s because of the rising cost of rent, others say it’s due to interest rates on home mortgages declining to its lowest level on record, and there are those who point to one of the biggest drivers of home buying… children. So, although unemployment hit an all-time high (14.70% in April of 2020 vs. National average 5.76%), many Americans have chosen to get into the home purchase market.

With the Real Estate market on fire, if you’re a realtor in today’s environment, you may have experienced some feelings of uncertainty when it comes to your favorite lender. It could be because you feel the communication isn’t as frequent as you’ve been accustomed, the processing & underwriting turn times seem to take longer, and or the closing packages are not arriving to the title company days before as normal.

WHY IS THAT? WHAT SHOULD YOU BE EXPECTING?

There is a chance that one or all the above is happening. It starts with the fact that there is still a shortage of certified home appraisers in the market and ends with overall capacity with the lender. Hundreds of thousands of refinance applications are flooding the appraiser’s desk (on top of all the purchase requests), and home appraisers are slammed with more work than they can handle. That means from the start of the home financing process, the length of time it takes to close on a home purchase has been extended due to appraisal turn times lengthening. Adding to the problem is all the temporary changes in lending guidelines and requirements related to COVID-19. A once easy 3 week close is now taking 4-6 weeks.

WHAT SHOULD YOU DO AS A REALTOR?

In my humble opinion, buyers and sellers need to be on the same page when it comes to closing expectations. That starts with the realtors on both sides of the table educating the buyer and seller on the new potential closing timeline. Can a closing happen in 30 days or less? Yes. However, if we under promise and over deliver, all parties walk away happier when the home loan closes. So instead of filling out a purchase agreement with a 3 week or 30 days close, set the expectation of it closing in 35-45 days. If it closes sooner, all parties involved look like heroes.

• Get out of debt, and stay out of debt. If you are unable to pay-off all your revolving or installment debt, try to at least keep your revolving debt balance no more than 35% of your limit.
• Open a savings account and have at least six months of your gross monthly expenses in an emergency fund. Get in the habit of saving!
• Invest 12-15% of your income into retirement accounts — 401(k) and Roth IRAs. Max them out annually if possible.
• As your income increases, resist the impulse to increase your standard of living. The two do not have to go hand-in-hand.

Once you’ve laid the foundation and practiced good financial habits, your personal credit score and income should be good enough to warrant a home purchase (assuming you have steady income). Purchasing real estate is one of the best ways to create generational wealth.

Start with a duplex, triplex, or fourplex

When you are ready to buy your first home, instead of jumping into a traditional single family home, think about purchasing a duplex, triplex, or fourplex with a government insured FHA mortgage (because the minimum required down payment is only 3.5% with a FICO score of 580 or higher). By owner occupying the duplex, triplex, or fourplex, you can then rent out the other units and use that income to pay your mortgage. Think about that for a moment. If someone else was paying your monthly mortgage payment, how much money could you save in 12-24 months?

If someone else was paying your monthly mortgage payment, how much money could you save in 12-24 months?

You will have to occupy that property for at least 1 year before you can move into another home.

Upgrade

After 12 months have passed, if you then wanted to move out of your duplex, Triplex, or fourplex to make room for yet another renter, you could. Then, on your next purchase you could get into a conventional Fannie or Freddie backed conventional mortgage with a minimum of 3% down payment (if you income qualify). In the event you make too much money annually for Fannie Mae’s HomeReady or Freddie Mac’s HomePossible low down payment program, no worries … you can still get into a conventional single family home for as little as 5% down (assuming you have the necessary minimum credit score of 620-640 needed for a conditional approval).

Following the best practices above, you could end up owning 2-4 rental units with minimal investment dollars down, earning you extra monthly income, as well as an asset that typically increases in value throughout the years!

Pass Down Knowledge

In conclusion, one of the most important things to remember when trying to help multiple generations within your family; pass down the knowledge you’ve learned. And remember, knowledge is NOT power until the knowledge is applied. Teach your children to work, earn, save, invest, and spend wisely. Proper financial literacy is typically not taught in schools. That in my humble opinion is one of the underlining causes pertaining to the homeownership disparity gap.

You don’t know what you don’t know

So it is your job to make sure each generation is armed with the necessary information to grow and preserve your families wealth. Because if you don’t come from a rich family, a rich family must come from you.

1. THINK LIKE A HOMEBUYER NEW TO INVESTING

The landscape of real estate investing and home lending is in a steady state of fluctuation. In fact, the only constant is change. By thinking as a new real estate investor, you open your mind up to different ways to market towards individuals or families looking to purchase residential property to diversify their investment portfolio.

Let’s take that thought one step further. Different people have different risk thresholds/tolerances. Some are higher, and some are lower depending on the person. As you’re getting to know your customer, ask them specific questions geared towards their risk tolerance. This is an important step when establishing yourself as not only the expert in the field of real estate (as a supplement to one’s investment strategy), but it also differentiates you from other real estate agents who skip this step altogether.

2. WHAT MAKES YOU THE EXPERT?

Do you have your GC (general contractors) license? Have you personally bought and flipped homes before? Do you employ the buy, hold, and rent strategy? Remember step 1, “Think Like A Homebuyer That Is New to Real Estate Investing.” There are different types of real estate investors out there. And there are even more real estate agents looking to build up their investor book of business. That said, any extra credentials you can add behind your name helps.

If I were looking to buy my first investment property, it would help if the agent I was working with had a GC license. It instantly makes that agent more creditable and knowledgeable on what the cost of improvements could be. That agent would also be knowledgeable on certain red flags to stay away from when walking through various properties. Remember perception is reality; and even if you’re a newer agent, you could overcome the lack of ten year with special designations, or real-world experience.

3. HAVE A RESOURCE LIST AND BRAG BOOK

Most people in general are visual learners. Meaning, they tend to retain more information when they see things vs. just hearing about something. Use that fact to your advantage. Come to a client meeting prepared with a resource list of other professionals in your network. You’re building value by showing the customer you ARE equipped to help them in any situation pertaining to real estate investing. So, in the event you don’t have a GC license, or if you’re not a licensed home inspector as an example, the client(s) can rest easy with you in their corner.

Also, don’t forget to create a brag book of success stories to show your prospective clients. Many agents will post photos of them and their past customers. Take that one step further; take before and after photos of a home you helped a client renovate. Add in positive survey responses from deals that could have went sideways but didn’t because of your intervention. Then have that brag book bound and laminated in case you need it. You only get once chance to make a first impression!

4. KNOW THE BASICS OF INVESTMENT LENDING

Remember we talked about having a resource list in section 3. Well, not every lender knows their way around optimal strategies for investment lending. Make sure you’re asking your lending partner what makes them a lender who’s equipped to handle even the most complex customer. Then learn the basics of investment lending yourself.

Some questions to ask your lender:

• If a client has intentions to own multiple properties, what is your strategy?
• Do you know how to read self-employed tax returns?
• Are you able to broker out deals to investors with tougher client scenarios?
• Are you comfortable having intelligent conversations with Investment Advisors or Certified Financial Planners?

5. FIND HIDDEN, OFF-MARKET PROPERTIES.

Befriend, learn, and hang out with other Real Estate professionals who work in the investor client space. And remember, expand your connections to real estate attorneys. It will help you build your exclusive network of off market properties. These off-market properties are the ones in which the owner needs to get rid of the property quickly for one of many reasons. Who better to give you the pocket listing, than a real estate attorney who’s helping a family with an estate sale, or a divorce situation?

Finally, have a written business plan. If you don’t have a written plan that is actionable, how can you really hold yourself accountable to your goals. In fact, a goal without a measurable action plan is a dream… and dreams are less likely to come true. Ricky Cheath

Conventional Home Loans

Conventional conforming home loans are the most popular type of loan program across the nation. Fannie Mae and Freddie Mac loans from the Federal Housing Finance Agency (FHFA) only require homebuyers to put down a minimum 3.5% down payment to qualify. In 2020, homebuyers can borrow up to $510,400 in 2020 (for a one-unit property) and up to $765,600 (for a one-unit property) in high-cost areas, including Alaska, Hawaii, Guam, & U.S. Virgin Islands. Click here to view the loan limits for your market.

This loan limit increase will enable more home buyers to purchase at a lower rate instead of requiring a jumbo loan, which usually has a high interest rate, credit score, and down payment requirement.

FHA Home Loans

Homebuyers who want a low down payment requirement, use gift funds and/or have concerns about their credit score could qualify for an FHA home loan. Backed by the Federal Housing Administration, the FHA guidelines are generally not as strict as government-sponsored enterprises like Fannie Mae and Freddie Mac.

As of January 1, 2020, the FHA’s standard limit for most of the country increased to $331,760 for a one-unit property. Homebuyers in high-cost areas, including Alaska, Hawaii, Guam & U.S. Virgin Islands have been assigned FHA loan limits of up to $765,600 for a one-unit property. The revised high-cost loan limit is based on the Housing and Economic Recovery Act of 2008 (HERA) requirement for the FHA to assign a loan limit to these areas equal to 150% of the national conforming limit. To search for your county’s 2020 loan limit, click here.

VA Home Loans

VA home loans enable eligible veterans, active duty, National Guard, reserves, and surviving spouses and their families, the opportunity to purchase and home with zero down payment and seller-paid closing costs, making the total out-of-pocket money required to purchase a home, in some instances, zero.

The interest rates on VA home loans are typically lower than conventional and FHA home loans, and no mortgage insurance is required, which makes homeownership affordable for those who have served our nation.

The VA loan limits are the same as the FHFA’s home loan limits, so the standard maximum VA loan limits for one-unit properties is $510,400 in 2020 and as high as $765,600 for one-unit properties in Alaska, Hawaii, Guam, and the U.S. Virgin Islands. Additionally, Purple Heart recipients are no longer required to pay a VA Funding Fee.

When showing your clients potential home to purchase, remember that these new home loan limits also apply to renovation loan products, so your homebuyers could purchase and renovate an older home or fixer-upper.

I start off by giving you a glimpse of my earlier life because it gave me the foundation I needed. To evolve, we need to understand who we truly are, where we came from, and what makes us tick (what are we passionate about). Last but certainly not least, we need to be coachable.

In the 27+ years that I’ve been in the workforce, I’ve learned that no matter what you do, no matter what your title is, or how successful you become, there is always room to learn and grow.

That brings us back to the word coachable. Being coachable is something that doesn’t come easy for many people. The very definition means you’re able to receive constructive criticism without taking it personally. That you’re also willing to take a deeper look at your own performance to improve upon it, and potentially accept that there may be a more efficient way of doing something vs. the way you’ve always been doing it. It takes a certain person to step back, listen, digest the information with an open mind, and accept the coaching tips.

Some people just have a problem taking constructive criticism due to pride, ego, indifference, low self-esteem, inability to self-reflect, afraid of change, and or the belief that the way their doing something has worked for several years … “why should they change up their ways”?

That mentally is cancerous. It’s a growth killer! Just because something has worked in the past, doesn’t mean it’s going to continuously work in the present or future. Just because someone is a high producer, doesn’t mean there isn’t room for improvement. Things change! Life circumstances change! People’s strengths and areas of opportunity change! And with the advancement of technology in certain sectors, it’s highly possible to be more efficient than ever before.

WAYS TO COACH COACHABILITY

• Meet Privately: Pull the individual into a more private setting. I’ve found it helps when having critical conversations.
• Use the Build, Break, Build methodology and come prepared: Start out by giving the person praise for their successes and efforts; build them up. Then break down the area’s they could use improvement. Avoid words like “weakness” and use productive phrases like, “areas of opportunity”.
• 3R Rule when trying to overcome objections: Know your audience. If the person you’re trying to coach up has one of the personality traits listed above, you’re going to run into objections and roadblocks. When that happens, use the 3R Rule — Repeat, Reassure, Resume. Repeat the objection to show you’re listening. It also helps to defuse a potentially combative situation; because when you repeat the objection, you’re not being argumentative. If able, try to empathize with whatever their objection is (avoid being sympathetic). Afterwards, transition right into Reassuring them why you’re having this coaching / mentoring session. Site examples and share perceptions. Finally, Resume and go into your trial close. Assume the sale so to speak.
• Gain acknowledgement: Before you end your coaching session, see if you can gain acknowledgement from the individual you’re trying to mentor / coach up.

WHY SOMEONE SHOULD BE OPEN TO COACHING

As Michael Jordan said, “My best skill was that I was coachable. I was a sponge and aggressive to learn.”

SKILL — That’s the word that stands out to me in his quote. Being coachable is a learned skill. People are not born coachable. But it’s never too late to become a person who is coachable. If someone like him is saying it’s im-portant to be coachable to rise to new heights, there must be some validity to it.

There is wisdom in being coachable. It means you are intelligent enough to self-reflect. You can humble yourself enough to acknowledge that other people may have experience, knowledge, skills, and wisdom that is relevant to your personal or professional growth.
Be open, be coachable. In doing so, you give yourself a better opportunity to break through different barriers.

All you have to do is leave room in your mind for the possibility that you can achieve more with the right people mentoring you. Ricky Cheath

How joint marketing can keep your commissions jingling all year

Chances are, you already refer most of your buyers to one or two reliable, savvy loan officers. When you team up with one of these loan officers to market your services together, it’s called joint marketing. It’s a win-win strategy, as this introduces prospects to your properties, together with a reliable source who can help them acquire the funds to buy them.

Joint marketing with the right loan officer can save you time and money, as many have access to a library of joint marketing materials. Often all you’ll need to do is provide photos and details of your properties, along with your own contact details, and to contribute to the costs of producing them. Loan officers with a savvy marketing department will have access to tools that can connect directly with your MLS listings to create these materials even easier.

Here are some ways joint marketing can heat up your sales like the office party mistletoe.

1. Team up for a first-time homebuyer workshop

Since renters often think they can’t buy a home without a big down payment, ask your preferred loan officer to kick off your next homebuyer workshop. After your audience learns all about low down payment options, tell them how you’ll help them find a great starter home.

After the workshop, you and your loan officer can team up to create follow-up emails. You’ll need two versions: one for those who attended and those who registered but weren’t able to attend. Don’t forget to add these new prospects into your CRM database so that you can keep in touch with a drip marketing campaign.

2. Double up on social media postings

Supplement your social media postings by following your joint marketing partners on Facebook, Twitter, Instagram, and LinkedIn so you can easily share their relevant posts with your followers.

Short on content? Closing day group photos are ideal for social media posts. Include your happy client, loan officer, and yourself. If you’ve just sold them a photogenic property, use it as a background. After you post the photo, be sure to link your link to your loan officer and homebuyer(s). Be sure to obtain their permission before tagging them. (Don’t know how to create social media tags? Click here to learn how.)

3. Co-host Open House events

Inviting a savvy loan officer to co-host your next Open House will increase your chances for a faster sale. Serious potential buyers can discuss financing with your co-host. When you’re showing one area of the home to prospects, your co-host can cover for you by greeting new visitors. And when you’re saying goodbye to visitors, offer them a co-branded flyer that highlights your property’s best features and a couple of loan scenarios for reference.

4. Stay in touch with buyers after property sales

If both you and your loan officer create a post-sale campaign, it can boost your repeat and referral business. Email seasonal gardening and home maintenance tips, snail-mail a birthday card, and send a yearly anniversary email on the day they closed the purchase of their home.

Legal stuff to remember

Be sure to discuss the RESPA regulations that govern the content and cost management of joint marketing materials with your company’s marketing or compliance department. Ricky Cheath

I also want to emphasize the growth potential for your business. In October 2019, the U.S. Census Bureau released statistics that 7.3% of U.S. adults have served in the military. That’s 18.2 million Americans! In addition, service members may qualify for a VA loan after just 90 days of active duty. Many aren’t aware that this benefit is available to them so soon.

A well-deserved reward for service and sacrifice

VA loans were created in 1944 as part of the Servicemen’s Readjustment Act, which created a variety of benefits for members of the military returning home from WWII. Although some people still assume that only military veterans can qualify for VA loans, this was amended in 1992 to include active duty servicemen and women, many reservists, and some spouses of deceased veterans.

Highlights of today’s VA loan products

The biggest advantage is that applicants may qualify with no money down. They will need “full entitlement” to do this, which simply means they aren’t already using their VA loan benefit to buy another property.

Also, your listings’ sellers are allowed to pay a portion of the buyer’s closing costs, so it’s possible for your military clients to ended up with no out-of-pocket costs by using a VA home loan to finance their home purchase.

These are just two of the advantages our military clients will appreciate. Here are more:

• They don’t have to be first-time home buyers.
• If they’ve paid off another VA loan, they can qualify for a new one.
• Mortgage rates are typically lower than conventional loans.
• Instead of mortgage insurance, VA loans require a Guarantee or Funding Fee. This fee may be financed into the loan amount for borrowers who want to keep their out-of-pocket closing expenses low. The Funding Fee may not apply to veterans with service-related disabilities.

“Don’t VA loans take forever to close?”

Sometimes borrowers and real estate agents ask me this. While this was true a long time ago, things have changed.

In the days before the internet, VA home loans could take longer to process than conventional mortgages because obtaining the required paperwork could be difficult. This is no longer a problem, and here’s why.

Almost all of the documents that may be required for VA home loans can be ordered online at the eBenefits web site at www.ebenefits.va.gov. If your buyer doesn’t have Internet access, they can permit me to order the most important document – the Certificate of Eligibility (COE). The following certificates are also available from the eBenefits site:

• Form DD-214, Certificate of Release or Discharge from Active Duty.
• Form 28-8937 is required for veterans who qualify for service-connected disability benefits.

Work with an experienced mortgage lender

When you work with an experienced mortgage loan originator, they can offer these services to you and your buyers which should eliminate any perceived disadvantages from property sellers:

• Pre-qualify your prospective buyers quickly
• Assist with obtaining a Certificate of Eligibility (COE) and other documents if necessary
• Walk your buyers through the application process
• Explain fees and closing costs in everyday language
• Provide fast, accurate status updates from application to closing

It’s always particularly rewarding to help our military reap the rewards they so richly deserve, and to thank them for their service. When you work with a loan officer who offers VA home loans, it’s a simple way you can give back.

So how do you break this never-ending loop?  Interest rates are low, buyers want to take advantage of the low rates, BUT there is a problem; there’s another housing shortage in your market.  How do you combat this housing shortage issue?

One way to turn a housing shortage negative into a positive, educate yourself on renovation mortgage loans.  Align with a reputable mortgage lender who’s certified in renovation lending AND has a proven process that protects the customer after the home loan closes.

Renovation Mortgage

How does a Renovation Mortgage combat the housing shortage problem?

Have you heard the phrase, “Work Smarter Not Harder”?  Most likely you have.  With a renovation loan, you can turn a like into a love!  The customer can literally turn that outdated kitchen into the dream kitchen they’ve seen in magazines.   They can update bathrooms, turn a one-stall detached garage into a two-stall attached garage, finish a basement, or even add a 2^nd level to the home for added living space.  With a renovation loan the realtor can cut down on the amount of homes they show a customer, and help the customer improve their equity situation (since the final loan to value is based on future appraised value with the completed renovations).

Let’s look at the different types of renovation loans

Fannie Mae Homestyle, FHA 203(K) Full, and FHA 203(K) Limited are the 3 most common types of renovations. See At-A-Glance. Some companies offer a specialized VA renovation product.

Do the Pros Outweigh the Cons?

Renovation loans can take longer to close, and are more complex on the surface, but they don’t have to be if you and your lending partner know what you’re doing.  Typically, a renovation loan can take up to 45 days to close.  That extra 15 days is necessary because the homebuyer must select a licensed contractor to do the renovations.  Then the contractor must submit a detailed bid sheet to the lenders renovation coordinator for approval.  The timing to receive this bid can be tricky, but since the lender must rely on this document to calculate the Total Acquisition Cost and Loan Amount, it must be finalized before they can even order the appraisal.  This process protects the homeowner because a true renovation loan is a single-close loan.  That means the borrower closes on the mortgage, then the total renovation costs get put into escrow and paid out to the contractor in draws after work milestones have been completed.

*One thing to note is the homebuyer cannot do the renovation themselves.  A licensed contractor must go through a vetting process (which maybe different between every lender).

In closing, a renovation loan isn’t for everyone.  However, it’s the type of loan that can open more doors for the new homeowner.  The quality & condition of the home could even be considered distressed; and a renovation mortgage could turn that lump of coal into a beautiful diamond (aka dream home).  So next time you’re looking at homes for a buyer, ask yourself if a renovation loan is right for this buyer.  You could save them thousands of dollars and be a real hero!

During an Open House visit, some of these prospects may decide that they’re ready to prepare a serious offer for the home. Having a dependable loan officer be your co-host at the event will provide these buyers with personal loan consultations “on the spot,” and even the opportunity to begin a loan pre-qualification. Offering these services will help to bring buyers closer to making an offer and give you more time to answer questions about the property.

Having a loan officer at your event also enables you to identify the serious prospects from the window shoppers and curious neighbors that always show up.

Here are some other smart reasons to have a skilled, reliable loan originator co-host your Open Houses when possible.

Half-price marketing materials

Chances are your loan officer co-host will have access to professionally-produced Open House flyers and marketing materials. Generally, these feature photos and a description of the property, and you and your loan officer will have equal billing to ensure RESPA compliance. Flyers provide an effective take-home for visitors and co-marketing saves money, as the two of you will split costs 50-50.

Safety in numbers

Nobody likes to think that they might be at risk during an Open House event, and these events are extremely rare. But having a loan officer as a backup helps to provide personal safety during an Open House, especially if you’re in a less populated area. They can also be there for you before and after the event. Your loan officer can help you go through every room and closet of the house before you begin greeting visitors and before you lock up for the day.

No lonely visitors

What if you’re busy showing the second-story rooms of a property, or a popular feature like an outdoor kitchen, when new visitors arrive? When you team up with a loan officer as your co-host, he or she will be at the front door to greet them, offer refreshments, and make a positive first impression. You won’t have to worry about unattended visitors wandering around feeling neglected. When your Open House visitors return home and compare notes, your event will be remembered as the place where they received twice the attention.

Be the hosts with the most

Teaming up with one of your favorite loan officers, together with providing visitors with other extras such as refreshments, will make your event the first one more prospects choose. When they look over the day’s Open Houses, they’ll see listings that will provide visitors with complimentary financing consultations, cold drinks and more – and those that don’t. Which will they head to first?

Stay online all the time

Even if you bring a fully-charged cell phone and/or tablet to your Open House, these can go dead or malfunction before the end of the day. You can rely on your loan officer to have cyber-backup for you to call your seller, look up information online, and keep you safe as well.

Instead, build a win-win relationship with the right mortgage officer. Since both of your livelihoods depend on serving homebuyers, you have a common business goal, so you can focus on improving your problem-solving skills, marketing, and customer service. Here are some strategies for building relationships with loan officers that will pay off in several valuable ways.

To find a loan officer who shares your commitment to customer service, ask other agents, talk to the loan officers at your closings, or chat with buyers who have recently closed a sale, then review their website, Zillow, and Facebook reviews to ensure they deliver a level of service you expect for your clients. When you have a shortlist of potential business partners, it’s time to take them for a “test drive.”

1. Your Initial Contact

Email each loan officer, introducing yourself and asking if they’re interested in working with some of your buyers. Don’t call them. Sending an email with a general request for assistance will result in a different response; the type that demonstrates how the loan officer will respond to everyday queries from shared clients.

After you receive responses, review each one, judging the quality of their answers and how quickly they respond.

2. Second Round of Evaluation

Now you can move on to the next step: ask the loan officer for help with a particular problem.

For example, if your self-employed prospects can’t find financing, or if prospects are asking you about down payment assistance, ask if they can assist. If one or more responds quickly with a smart solution to your problem, you’ll probably want to begin building a business relationship with them.

Foundations For Great Relationships

After you’ve become acquainted with the right loan officer, it’s a good idea to keep the following points in mind and share them.

1. Be Realistic

Always be clear about what you can and can’t accomplish. Set realistic expectations. You may work hard with a difficult seller, but still be unsuccessful – loan officers deal with similar problems. Any loan officer worth doing business with will appreciate your accountability and honesty.

2. Be A Great Communicator

Your shared clients will be eagerly anticipating news about their purchase, from the day you prepare their offer to the day their financing is approved, which is why both of you should answer client queries as quickly as possible.

And when things don’t go in your clients’ favor, neither of you should make the mistake of waiting too long to deliver bad news.

If your loan officer can’t qualify one of your buyers, you need to know this immediately so that you can discuss possible solutions. For example, you may need to find lower-priced properties or the loan officer may help the buyer apply for down payment assistance.

It’s a good idea to check in with each other every week to update each other with the status of your shared clients. Ideally, the loan officer will provide regular updates on each of your active loan transactions via email or a mobile app, too.

3. Use Social Media To Help Each Other

Today, thousands of people use social media to check out homes for sale and shop for home financing. It’s why social media is a great place to nurture relationships while you help each other with sales.

For example, don’t just post your listings online – be sure to mention that you know a loan officer who can pre-qualify buyers quickly. Real estate agents and loan officers who engage on social media can share each other’s posts to provide followers with engaging content, which will ultimately create more opportunities for each other.