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MAP 049: How Bad Pre-Approval Letters Hurt Agents AND Mortgage Lenders
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Mortgage lenders and real estate agents, do you not realize that the clients pre-approval letter is a marketing piece? Agents, are you impressed when a buyers agent sends over a pre-approval letter that has no useful info on it? Does that give you the confidence in the buyer that you need to recommend them to your seller?
It's amazing to me how often I see lazy, incomplete pre-approval letters that may as well have been written on a napkin. But what you need to know is that these awful pre-approval letters are killing business for agents and mortgage lenders alike.
Bad…
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