Million Dollar Team Principle #84: Don’t Let Your Lender Just Collect Referrals
The wrong lender partner thinks their job is to show up, sit quietly, and wait for your agents to hand them business. That’s not partnership, that’s freeloading.
The right lender partner brings energy, expertise, and leadership to your team. They don’t just provide loan programs (those are a commodity). They coach, train, and empower your agents to have better lending conversations and higher conversion rates.
My Story: Picking the Right Lender Before I Had a Team
Three months before I launched my brokerage and team in 2012, I was already planning my vendor relationships. None mattered more than the lender relationship.
At that time, I had:
- Zero brokerage
- Two verbal agent commitments
- No leads
But I had one thing: a vision.
I wanted the #1 team in North Central Washington, doing hundreds of buyer-side deals every year and thousands over the next decade.
So I started interviewing lenders. I spoke with ten established lenders. Almost all of them wanted to play it safe, work with every agent in the valley, collect referrals, and boast about their loan programs. None of that interested me.
Then I found one mortgage broker who “got it.” He aligned with my vision. He agreed to:
- Attend weekly team meetings and contribute value.
- Be integrated into our CRM for seamless client communication.
- Support our agents with 24/7/365 client care.
- Provide the fastest approvals in the market.
- Jump in on negotiations with listing agents when needed.
- Offer flexibility on pricing to help close deals.
- Partner on growth strategies for the team.
That partnership was integral to our success. It multiplied our conversions, improved the client experience, and fueled the rapid growth of the Nick McLean Real Estate Group.
The Principle
Your preferred lender must be more than a vendor, they must be a coach, trainer, and leader inside your organization.
If they’re not adding value to your meetings, your conversions, and your client experience, then they’re just collecting clients off your hard work.
Don’t accept that. Find the partner who sees your vision and helps you make it real.
