It's Heating Up -- Broker's Bundling Services

Should untrained Agents provide Loans? Should untrained loan officers provide real estate services? Is it even possible to do a good job at both? Should real estate brokers even attempt to provide insurance, escrow and other services?

I want to thank the many of you that have responded to our Blogs with comments along with the many private eMail messages you have also sent. Your comments and insights regarding what has shaped up into an enjoyably controversial subject continue to be a lot of fun. We will soon migrate on to other topics, but I want to get the foundation of our future discussions well established. -- Real Estate Agents and Brokers writing loans and providing other services.

I have been asked numerous times what I think about the banks coming into real estate brokerage. The truth is that it doesn't really matter what you or I think at all. I believe the fact is that they are coming and they will certainly have an impact.

I am a real estate broker and real estate agent advocate. The Banks have lots of resources and can take care of themselves. The part of the industry I am concerned about are the Agents and Brokers and what they must do to enjoy ongoing success.

This gets us to the critical issues of today's Blog.

Many have offered comments like "... I don't think agents should offer loans." or "... I don't think loan officer's should offer real estate brokerage services" then comments go on to tell horror stories about some experiences that turned our poorly for all involved.

Duh!!! --- No one suggests that incompetent or under qualified people should offer any professional services.

The real question though is whether it is possible to do a good job at both?

Certainly not with traditional tools and certainly not with a traditional approach to the market, but no one is suggesting that. Not at all.

"?

Technology itself is not the answer.

"?We have been putting roller skates on dinosaurs in our industry for years now. Taking two dinosaurs -- a traditional real estate agent and a traditional loan officer and giving them new technology based roller skates will not get the job done.

Technology needs to be seamlessly integrated with the business model to make all this work. Dinosaurs can't do it.

"?

One of the hazardous items we had to guard against in our software company was not to get carried away developing incredibly ingenious solutions to problems that didn't exist. Real bright software people that don't understand our business are of limited help. Real bright business people that do not understand software and technology are also handicapped.

The good news is that we are not advancing the frontiers of physics here. All of this is very doable. You will need to think outside the box a little and there is incredible motivation to do so. -- Starvation and ruin is not pretty.

More to come.

"?Thanks, and --- Always remember -- I can help you!

Don

Don Murray

California First Financial -- Serving all of California
Financial Planning, Real Estate Brokerage and Mortgage Loans
DonMurray@CalFirstFinancial.com
www.CalFirstFinancial.com
949-413-2240 -- Phone
949-203-6355 -- Fax
Toll Free -- 877-528-3415
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