My agent was pushing to work with Wells Fargo. I got frustrated with them despite being pre-approved. She mentioned that they can turnaround 21 days vs my lender who is 30 days. She also points out Wells knows the area and can work with an appraiser. My lender is kinda 9-5. Overall my lender has a better interest/APR and lower closing costs. Wells is a bit more, but not a ton (except closing costs being 3-4K more). Anyways are they right or just trying to sell Wells business?
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Question about women in their 30’s?
They're probably getting a commission. Buyers agents are pretty useless anyways, just drop them
No way! Just go with your lender
Just ask him to beat your lender's offer by 5k and then you can switch
Nah
They get commission if you get approved through them, so the push
Whats the name of the agent i think i know her
where are they based?
Does first name start with an S?
This COULD be valid OP. I wouldn’t immediately write them off as scammy but investigate before you decide to drop them.
They have good ratings online.
I am real estate agent and honestly I don’t get any commissions from lenders that I refer. I only recommend lenders because I have had good experience working with them and no hiccups in closing. The only thing I get from them is a seasons greeting 😊. I don’t ask for anything and I don’t give anything to them and had no idea that agents are really doing that. I would never take those commissions. It’s up to the buyers to decide which lender they want to go to and we can only give referral
The lender they’re pushing is just way too much to onboard.
You should just let your agent know that you do not wish to proceed with Wells Fargo. By law they cannot push you to work with specific lender. Their license can be revoked
Who is your lender? The agent is likely getting a referral bonus but there are some lenders who are not as efficient and makes the purchase longer and more cumbersome. I would let Wells try to match. Otherwise, tell your agent that he/she is not allowed to push you to do anything.
On a tangent, It’s not great to see RE Agents acting like they are so important and should dictate what the buyer should do.
I stopped with Wells, they need a lot more information than other folks. And read in their application that they use my tax return to send to third-parties including for marketing purposes. It was too generic and vague.
YMMV, but our agent had a preferred lender who had relationships with appraisers and the entire pipeline… the agent didn’t get commissions from these folks, but because they’d worked together before things went much faster and there was less risk of surprises. If the agent is well-known and reputable, their network can seriously grease the wheels and make things smoother. Also, don’t listen to people telling you that buyers’ agents are useless. Good buyers’ agents will help you avoid a whole lot of mess.
They don’t cost anything, right? It just hits the seller agents fees.
Yep, but ultimately reflected in home price.
Commission 🤑
Commission on buying the house, but not business with Wells?