Understanding commercial mortgage borrowers and taking the time to build relationships with them is crucial to a broker’s success in the industry. This is especially true if you’re working with non-bankable borrowers who have had trouble finding the right commercial mortgage. To serve these borrowers, you need to get to know and understand them, their businesses, and their financial goals.
Below is a selection of our blogs dedicated to helping commercial brokers learn more about finding borrowers who could benefit from alternative financing, the value of their story in the lending process and how you can connect with and impress potential borrowers.
How to Spot Borrowers Who Need Alternative Commercial Mortgages
If you’re a broker looking to add more deals to your pipeline and earn more money, alternative commercial mortgages are a great place to start. When you work with the right lender and know how to find potential borrowers, it’s a simple and fast way to close more loans. Click here to learn how to spot borrowers who need alternative commercial mortgages.
The Value of Your Commercial Mortgage Borrower’s Story
Working with small-balance commercial mortgage lenders is a great opportunity for brokers to increase their business and income. However, to succeed in this niche, it’s important to develop your skills as a storyteller. Because non-conforming lenders aren’t subject to the same regulations as banks and other traditional lending sources, your borrowers’ stories are important to them when underwriting a deal. Click here to read about what you’ll need to tell your commercial mortgage borrower’s story.
Building Connections with Commercial Mortgage Borrowers
For many non-bankable commercial borrowers, finding a mortgage for which they qualify on their own will be a challenge. That’s where a skilled broker comes into the picture. These borrowers are an underserved segment of the commercial mortgage market and they’re a great opportunity for brokers. However, you need to build a relationship with these borrowers and convince them that your services will be beneficial. Click here to learn how to do that.
Establishing Credibility as a Commercial Mortgage Broker
There are a number of factors that contribute to the success of a commercial mortgage broker but earning the trust of borrowers and referral sources is one of the most important. People aren’t going to work with someone in whom they don’t have confidence, so it’s crucial to establish your skill and credibility early on. Click here to read about some great ways to connect with borrowers and sources and convey the value of your services.
Impress Your Commercial Mortgage Borrowers
Mortgage brokers know that marketing their services through channels like email and social media are important, but you shouldn’t forget one of the most important means of advertising: your clients. Word-of-mouth recommendations are powerful, so it’s important to provide a great experience to the commercial mortgage borrowers with whom you work. Click here to learn about how you can impress them.