Posted by Ed Garcia on August 10, 1999 at 01:19:43:
Jaydee:
That?s a good question.
They all tell us how good they are, but we never know until we use them.
And we surly hate to find out that they?re no good at that time.
But the only way that we can find out is references.
The references should be people who you know, or are familiar with.
At this point, reputations become important. Go to the sources who use
them on a daily basis.
(1) Real-estate brokers, or agents. (They all use them)
(2) Developers who build track homes, or track home sites.
(3) Escrow Companies who deal with brokers, definitely know if the
deals close, and the constancy under which they close.
(meaning, they know if a broker did a good job in the closing, or if
the broker has problems deal after deal. )
(4) You can check the BBB (Better Business Beau), personally I think
that?s a waste of time. They bless everybody who pays their
membership fee. The people they don?t recommend usually go to jail.
I think the best way to go, is just interview the brokers you are considering.
Ask them how long they have been in the business ?
Ask them if they have a nitch loan, meaning , FHA, Conventional,
(B) paper or subprime, Commercial, etc. ?
Ask them for references ? (not the customer they did the loan for,
because they will only give the happy ones, but sources, such as
Real-estate brokers etc. )
Jaydee, I know that there?s more, but it?s a little late and my brains
not as fresh as it should be because I?ve had a long day.
I hope that this helps???.
Ed Garcia