VA Loan Referrals & Finding the Best Military Realtor on Oahu

To Use a VA Loan REALTOR Referral Program or Not?

As you may already know, I work with many military buyers and sellers of real estate on Oahu. Recently, we submitted an offer for a military couple relocating to Hawaii, who is using a VA loan to purchase real estate on Oahu. This couple came to us after using a REALTOR who was referred to them by a VA lender’s REALTOR referrral program.

Several VA lenders (e.g., USAA) have these programs.  How they often work is that VA Buyers who do not have a REALTOR are referred to a REALTOR participating in the VA Lender program.  If the REALTOR closes the sale with the VA Buyer, the VA lender is paid a referral fee of anywhere from 25-40% of the total commission. Sometimes, the VA lender will rebate a small portion of this referral fee back to the VA Buyer.  The lender keeps most of it, so they have incentive to get you to use on of their preferred REALTORS.

Our VA clients told us that they were not impressed with the REALTOR referred by their VA lender, for various reasons, so they went elsewhere.  Fortunately, they ended up finding me and using me as their REALTOR. It caused me to wonder what, if any, process was used by the VA Lender when selecting REALTORS to refer? I am certain that many REALTORS who participate in the program are very good REALTORS, but I wonder how many are not? Is it in a VA Buyer’s best interest to use a REALTOR from a referral service? …. the answer is ….. MAYBE.

Here is my advice to military buyers using a VA lender referral program:

1. Make sure the VA loan REALTOR has real life experience in the VA market segment.

Has the REALTOR done many VA loan transactions? Have they ever had their own VA loan? Is the REALTOR a former or current military servicemember or spouse?  “Yes” answers to these questions may indicate experience and help the transaction run more smoothly.

2. Make sure the military REALTOR has quality reviews for their service and that they can provide references.

Look at the REALTOR’S website for testimonials. Ask them for names and numbers of specific client references. Make sure to contact those references. REALTORS with happy clients, who freely and pleasantly want to give a good recomendation, are your best bets.

3. Make sure your VA Loan REALTOR has the time to take you on as a client. Ask how many transactions they have going right now. More is not always better. To how many active buyers are they showing property within any week period? Showing property to Buyers is a time intensive process. Personally, I would never handle more than 3-4 very active buyers, on my own.  Even so, we use a team approach, which makes working with multiple Buyers more manageable, as we intend to always maintain a very high level of service to all our clients. We will turn business away when we cannot handle it.

4. Make sure your military REALTOR is not too far away from the geography of your intended purchase of Oahu real estate to provide diligent service.  

The traffic on the island of Oahu can be bad to and from certain areas. A REALTOR from another region of Oahu maybe able to handle clients in other further regions, but only with careful planning and allowances for traffic, and the extra commuting time. They should also have experience in all of the areas you see, preferrably both with buyers and sellers. It can be done, but is difficult when a REALTOR is too busy. In this case, only the client suffers. And it goes without saying, your REALTOR should have a working knowledge of the area in which you intend to buy. 

In Summary:

If the REALTOR has the required experience, proven track record of quality service, and time to take you on as a client, it may be worth taking the chance on the blind referral from a VA lender to get a rebate. If not, do your research and find a good, professional REALTOR, based on the criteria above.  It will probably save you money in the end.

I have more than a decade of experience with military buyers relocating to Oahu and other VA buyers on Oahu. My husband, who is also licensed and who has over 16 years of Active Duty in the USMC and is now a reservist in the USMC, and I have helped many military friends and other military buyers with VA loans on Oahu in their purchase of Oahu real estate. We are permanent residents of Oahu, since 2004, and have helped both Buyers and Sellers most areas of the island of Oahu, including areas near the military bases.

Please contact Yvonne Jaramillo Ahearn RB-20262 at 808-721-8088 for your Oahu real estate needs.

Celebrating the Military on Oahu

Happy Veteran’s Day to all those who have served!  There may be no other state in the United States where the military culture is more a part of life than in Hawaii.  This may come as a suprise to some, but anyone who has lived here, on Oahu, knows that the military living on Oahu are an integral part of the community and the island economy is dependent upon it.  Military service members and their dependents make up roughly 1/8 to 1/10 of the entire population of the State of Hawaii.  On Oahu, where there are numerous military bases, the percentage of the military population is even higher.

On Friday, I attended a Military Appreciation Day Celebration and Mass at St. Anthony School in Kailua.  This Military Appreciation Day Celebration was made even more special because my husband, who is currently serving in Afghanistan, was home on leave and able to attend with my son and me.

Lt. Col. Neil C. Ahearn and Dean AhearnAt the mass, Oahu military service members from all branches of the military, including the US Army, Navy, Marines, Air Force and Coast Guard, and even the Australian Army, were honored and remembered. Representatives from Kaneohe Bay Marine Corps Base in Kailua (MCBH) attended.  The Girl Scouts and Boy Scouts attending the school served as ushers, handing out programs and paper leis to the Oahu military service members and spouses.

Lt. Col. Jeff Davis, Commanding Officer of HMH 436 on MCBH spoke about the role of the military.  He talked about the times of war, which we have been through over the past several years, but reinforced that historically, there have been more times of peace than war.  At times of peace, the role of the military is to provide service and humanitarian aid.  He mentioned many of the things that the military does to care for the poor and underserved in our communities. 

The Principal of the school also spoke and thanked the Oahu military service members in attendance, and others that were not present.  She emphasized that were it not for the military, we all would not have the freedoms that we enjoy in our country, including the freedom to choose where and how we worship.  I was impressed with all the speakers and the focus of the program, in highlighting all of the good that the military does both on Oahu and other parts of the U.S., and abroad, keeping us secure, and in helping to guarantee our valuable Constitutional rights. And I am thankful for our military.

Lt. Col. Neil Ahearn, Afghan National Security Force Development, Marine Expeditionary Force (FORWARD), Lt. Col. Olllie Oliver, Commanding Officer, HMH 362 MCBH, Lt. Col. Jeff Davis, Commanding Officer HMH 463 MCBH, Major Dan Rubel, HMH 362 MCBH