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Ask APEX: How Brokers Can Generate More Commercial Mortgage Leads

Posted on 
June 16, 2015

The following is a transcription of the most recent video in our Ask APEX series.

Good morning, and welcome to Ask APEX. Today I want to talk to you about how to generate more leads for commercial mortgages, specifically small-balance commercial mortgages. And it’s an easy topic to discuss because I can sum it up in one word: networking. The best way to find small-balance commercial mortgage leads, or leads of any type, is by utilizing all of the people that you’ve met and interacted with over the years.

Commercial mortgage leads come from prior customers. They come from professional advisors – the accountants and lawyers that you’ve serviced in the past. Often when you are involved like things in the chamber of commerce or other associations, you meet lawyers and accountants. Don’t forget that their clients turn to them when they’re unable to find the financing they’re looking for.  If a business owner hears that their bank can’t meet their need, one of the first phone calls they make is going to be to a professional advisor – either their accountant or lawyer – to say “What do I do now?” You want to make sure that those professional advisors know that you’re there to help them and their client.

Local bankers are also a great source of referral business. There’s nothing more difficult for a mortgage loan officer at a bank or a lender at a bank than telling a customer they can’t help. The best thing that that banker can do is say, “I can’t help you, but I know someone who can.” You want to be that someone. You want the local bankers in your community to know that you’re happy to work with the customers they can’t service. You want their work out department to know that you’re available to help the bank move customers who no longer fit their criteria out to a lender who can meet their needs.

The realtors that refer you residential transactions are also great referral sources. They often sell mixed-use properties, small investment properties, rental properties of all types, and occasionally those free-standing commercial buildings. You need every realtor you interact with to know, not only can you do a single-family purchase, but you can service their needs and their customers’ needs for any type of commercial property.

Prior customers are also a great source of business when you’re trying to get into or expand your commercial mortgage business. Remember the self-employed borrower you helped purchase a home? They may very well own the building in which their business is located, and if their bank can’t service their need you want to be the person they turn to.  Make sure that you reach out to them through email, through phone calls or through direct mail marketing. Prior customers, both with their own needs and people they know, are a great source of business for you.

Finally, make sure your local community business owners know that you service their commercial mortgage needs. Make sure that when you go and buy a bicycle for one of your children or flowers for your spouse that those business owners know that you handle commercial mortgages. You never know who owns the building they’re operating their business in, or when they may have a need.

The key to networking is to always be there for your referral sources, to always make them aware of the things that you can do and how broad your services are. Don’t forget: Networking is the key to expanding and adding commercial mortgage brokering to what you’re currently doing. I hope you find this helpful, and have a great day!


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