Holly Dean has been mortgage account executive for Bank of America for eight years. She is responsible for originating residential mortgage loans.
BEFORE BANK OF AMERICA?
Dean has done on-site sales, real estate management and worked for the Home Builders Association in Gainesville.
HOW DID SHE GET HER START IN BANKING?
While working at the Home Builders Association, she met her contacts that got her into real estate, but she discovered financing was her calling.
“I loved real estate and I have a few investment properties. Real estate is my passion, but the financing part of it suits me perfectly. I love numbers and I’ve always been a math geek. It’s not like I’m selling something someone doesn’t want, so if I do a good job then they want it, use it and recommend me to others.”
WHAT IS YOUR FAVORITE THING ABOUT LENDING?
Dean said that she likes it when she has done such a good job that a customer refers her to someone that is important to them. “I think that is the best thing. You get the reassurance that what you are doing will be here for you tomorrow.”
HOW DOES YOUR PREVIOUS EXPERIENCE HELP?
“I think it is important to have a grip on all aspects of lending. If someone comes to me and says that they want to sell their home and they lived there just shy of two years — I know about the capital gains loophole, I will advise them to close just after the second year they won’t pay taxes on any of their proceeds. Since I am a landlord myself, I know a lot of the tax rules I can tell them how to avoid paying taxes on the bulk of their property and that sort of thing.”
BEST PROFESSIONAL ADVICE EVER RECEIVED?
“I never recommend that someone not seek representation. If someone asks me if they need an attorney or a Realtor, I tell them absolutely. You should always have representation. I’m not afraid to point them in the right direction to another professional. I don’t pretend to be an expert. I’ll recommend an expert in the field they need.”
IN THIS BUYER’S MARKET WHAT ARE YOU DOING TO DRUM UP BUSINESS?
Dean partners with Realtors at open houses. “I help by sponsoring a luncheon at their listing. I bring all the food, plates, napkins and drinks and set up a little party at their listing so when the Realtors go on caravan they all see me and I’m fresh in their mind. We just try to get the Realtors to swing through and look at the listing and we try to put on a healthy spread for them.”
ADVICE FOR NEW LOAN OFFICERS?
“You have to be really good at what you do and differentiate yourself from other loan officers. You have to know your stuff and be able to get your face in front of someone so they will hear what you have. It’s knowing your products 100 percent and getting out and drumming up the loans.”
ADVICE FOR REALTORS WHEN DEALING WITH LOAN OFFICERS?
“Everything has to be put in writing. I gather as much information as I can from clients and then give them something in writing. If you have it in writing then I can vouch for those numbers and if I’m wrong, then I am accountable for being wrong. It’s all about getting information from lenders in writing so that there is someone accountable for a specific scenario. When the settlement papers come and don’t match the good faith estimate they were given up front, then that means the numbers are not jiving. Realtors need to get everything in writing.”
PROFESSIONAL ASSOCIATIONS?
Northeast Florida Association of Realtors and its Ponte Vedra Council and the Ponte Vedra Chamber of Commerce.
- by Michele Newbern Gillis