For any commercial mortgage broker, the ultimate goal is to close as many deals as possible. This means you need to start strong and stay consistent to reach the finish line. You’ll need to understand how to look for good leads, build connections with lenders, and get a good grasp of the commercial mortgage process.
Below is a selection of our blogs written to assist brokers, from start to finish, with closing these loans.
Prospecting for Commercial Mortgage Leads
One of the most crucial factors of any commercial mortgage broker’s success is the individual’s ability to generate quality leads. Brokers need to focus time and energy on making sure new deals are consistently entering their pipeline. To make sure these deals close, brokers should be aware of the types of deals their lenders are seeking; where to find these loans; the needs of their customers (both borrowers and referral sources); and how to communicate the value of their services. Click here to read more about how to prospect for the right commercial mortgage leads.
Thrive with the Right Commercial Mortgage Lender
Whether you’re a broker new to the small-balance commercial mortgage niche or are an experienced broker thinking about working with a new lender partner, it’s important to understand the process of learning about a commercial mortgage lender’s business, connecting with them, and doing the work to show that the partnership will be beneficial to both parties. Click here to learn more.
The Basics of Submitting a Commercial Mortgage Application
If you’re a residential mortgage broker who has decided to begin brokering small-balance commercial mortgages for non-bankable borrowers, one of the most important things to focus on is what you’ll need to submit an application. Different lenders will have different requirements, so it’s important to talk to your lender before you submit your first deal. However, there are basic requirements for each loan submission. Click here to read about what you’ll definitely need to submit.
Managing a Small-Balance Commercial Mortgage Scenario
Successful brokers are those who understand the commercial mortgage lending process and know how to manage it wisely. To close small-balance commercial mortgages, it’s important for brokers to work closely with their lenders and borrowers to close each loan as quickly and smoothly as possible. At the end of the day, it comes down to submitting the necessary information, having open and productive conversations, and assisting your borrower throughout the process. Click here to learn more.
4 Steps to a Successful Commercial Mortgage Closing
Small-balance commercial mortgages are a great opportunity for brokers to close more loans and earn additional income. However, if you’re unsure of how to go about it, closing these loans can seem like a challenge. Once you know how to proceed, though, getting these deals done is very simple. Click here to read about what you need to do to successfully close commercial mortgages.