123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

The Art Of Brokering Commercial Loans

Profile Picture
By Author: John Tang
Total Articles: 512
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Doc's Secret # 2: Biggest Mistake of the New Commerical Broker

I take many calls each day as "The Money Doctor". I receive tons of calls from broker's around the country. These are all good, honest hardworking people. Many of these calls could have been avoided because the beginning commercial broker is not aware of the proper and proven operating strategies.

The conversation typically goes like this:

"Hey Doc, I'm new at this and I just landed a mega deal. Are you sitting down? I have signed an exclusive with a borrower for a $25M dollar deal to finance a health care facility. I sold the client that I could get the cash for him. My question is this: "Doc, where can I get a loan for this guy?"

My heart goes out to the broker and to the client! "Why didn't you find the lender first , find out what areas the lender is interested in and what their requirements are? Then advertise for that certain type of loan? If you did this, then when your future clients call you would know where to take the loan and your clients would be seeking that specific type of loan.

If you did it this way, then all you ...
... have to do is qualify the borrower, collect the documents and package them to your lender's request. That is much easier and will cause fewer gray hairs! Unfortunately, these brokers are calling because they didn't do it that way. Now the broker is scrambling for a lender , while stalling the borrower: not a good position to be in! The chances of success, of obtaining a commission on that $25M lead is slim, unless of course he wants to co-broker (and of course I'll be happy to help! J)

Please the secret here is simple. Many brokers suffer from Lender Phobia. They are literally afraid to speak to the "Checkwriter". Do yourself a favor and call some lenders and interview them. Lenders expect to be called by professionals. They make money when you bring them good loans. They want your business.

There are many broker friendly commercial lenders. It is important for your career to begin to groom your lending relationships. These are the people that will put money into your pocket month after month.

To Your Success!

Total Views: 244Word Count: 378See All articles From Author

Add Comment

Business Articles

1. Olmesartan Medoxomil Manufacturers In India
Author: verdanty

2. Usautopartscar - The Best Auto Parts Online & Aftermarket Car Parts Near Me
Author: USAutopartsCar

3. Top-class Ksa India Straw Reaper 756 Xh For Effortless Cutting And Cleaning Of Crop Straw
Author: KS Agrotech

4. Best Oem Panel Registration Consultant Services
Author: Bidz Professional

5. The Top Construction Company In Bihar - Bhushan Realtors Pvt. Ltd
Author: Bhushan Realtors

6. Essential Tips Builders Should Consider Before Hiring An Agent To Sell Property
Author: Horizon Consultants

7. Jamnagar: India’s Hub For High-quality Brass Components
Author: Atlas Metal

8. Top 5 B2b Healthcare Marketing Strategies You Can’t Ignore
Author: Medstreamdata

9. How Does Detectable Caution Tape Improve Workplace Safety?
Author: Nitin Jordan

10. What Are Common Mistakes In Iso 22000 Audit Checklists And How Can They Be Avoided?
Author: Emma

11. How Does One Go About Applying For A Short Term Loans Online?
Author: Robert Miller

12. Transform Your Home With The Best Modular Kitchen Designers In Bangalore
Author: catherin

13. Sap Jaipur - Your Gateway To Efficient Business Management
Author: Akansha

14. 100% Foreign Ownership In Saudi Arabia: A Gateway For Global Investors
Author: adarshhlg

15. Lactobacillus Rhamnosus Manufacturer In Usa
Author: vakya lifescience

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: