What do Realtors look for in a preferred lender partner?

I have a low bar, I need communication, a lender has to call me back or email within 24 hours.  I have had experience with lenders not calling me or my client back for over a week.  This is unacceptable, most of my lenders will answer the phone or call me back within the hour.  I want to work with other professionals who are conscientious and willing to work.

Client Customer Service and Trust. Offer the best Deal you can get them at the start of your first Visit not after they shop for a Loan with several Lenders. Its rare to get referrals from Loan companies . Maybe that's just Me. I really want to stay on top of every step so we have no last minute issues come up . Its ok if they do just let me help get the client to the next step.

Working with a lender you know is the best possible situation, as each of you are used to each other's specific working styles, and can easily anticipate a response based upon past experience.  In recommending lenders/mortgage brokers to clients, the client is only focused on one thing, the interest rate.  Realtors, however, are concerned about accessibility (can I reach you on the weekend if needed?), ease of transaction, timeline for closing (can you close in 21 days? 14 days?), and the ability to "work-around" lender roadblocks while not endangering the deal. Finally, is the lender able to explain all the ins and outs of the loan to the borrower so that they completely understand what's next. Lenders are very important to our business, as without the lender, agents can't get their transactions closed, unless of course, it's an all cash deal.

I think it is good to have a couple lenders.  I am a lender and also a consumer/client.  It is only fair to give the client a choice, but you can have a "preferred" lender that you know has many products and can handle different/difficult loans and get to the closing table.  

There is no single lender that provides the lowest cost, best service, and best products!  If that were the case, there would only be one lender.  All lenders want the "easy" business, but the lenders that are willing to go above and beyond to close a "difficult" deal (and get it done) should be rewarded.  

I also think that communication is the most important piece of choosing a lender.  Real Estate agents and clients will always come across problems with a transaction.  It is the masters of communication that know how to manage expectations and fears of both the clients and the agents!

I chose the lenders that I currently use from my first impression. When I was a NEW Realtor, I met a lender while on a Realtor tour. I liked her presentation about what her company had to offer that made her company unique and how she made helping a priority. We shared business card and she offer her help if ever needed. After meeting, she put me on an email distribution that posted me the rates changes and other market info on a weekly basis. When I had a client with a need, her name and contact information came to mind and was easy to access. I gave her a call and she has been helping me and my clients for 5 years. Working together, I appreciate the way she pats me on the back in front of my clients. She always comes to Closings and takes time to mention something noteworthy I contributed to the transaction. As a matter of fact, I like this so much I have added it to my policy. I love pointing out how someone has contributed to the transaction. It really is more of a pleasure when we all work together.

Trust, Synergies & clear communication.

For my clients, its the way the lender interacts with the clients and gives them a good level of comfort. Rates sometimes come into play, but trust plays a bigger role.

You are absolutely correct, for myself the ease of the the transaction. My mortgage broker is very professional, answers his phone all the time has a team to back him up and once I turn my clients over to him my job is done on that end. I don't have to call him 50 times to make sure it's going smooth as I know he will reach out to me if there is a problem. Real Estate brokers have so much to do, there is never enough time in the day to do everything we must do and to not have to handle the mortgage part knowing we have a wonderful broker doing it (it's worth it's weight in gold). 

Communication, accessibility to client is a key factor along with knowledge of various loan options goes along way in today's fast paced environment. 

As a rule, I recommend that the client find the lender that he/she is more inclined to work with, their current banking relationship is a good source to start with . If they are relocating, then I provide a list of local (franchised & private source) mortgage brokers to my client and encourage them to seek the provider that best meets their expectations. That being said, it goes without saying that those providers meet the client/customer service expectations that I consider important in completing a successful transaction...working with escrow, keeping all parties appraised of status and needed documents. Another major requirement is their backup support should an agent fall sick or in some way not be able to carryout the assignment.