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Closing More Small-Balance Commercial Mortgages in 2016

Commercial Mortgage
Posted on 
December 31, 2015

As 2015 comes to a close, the outlook for the commercial mortgage industry remains positive with originations increasing and delinquencies dropping. The small-balance commercial mortgage industry remains underserved and full of opportunity for mortgage brokers. If you don’t currently close these types of loans, you’re passing up a chance to earn additional income and increase your business. Here’s what you need to do to start closing small-balance commercial mortgages:

Market your services.

Before you can begin closing more small-balance commercial loans, you need to let people know you’re a commercial broker. Make sure all of your communications to potential borrowers and referral sources state that you can close commercial mortgage loans. Make this information is also present on your website, business cards and social media channels. Getting the word out will be a big part of closing more commercial loans in 2016.

Strengthen your referral network.

In order to increase your business in the coming year, you’re going to need to develop relationships with new commercial mortgage referral sources, as well as fortify partnerships with existing sources. Utilize traditional means of communication like phone calls and face-to-face meetings to establish a sense of trust, and take advantage of email and social media to stay in front of your sources in a cost-effective and simple manner.

Work with direct lenders.

When you’re looking to close more loans, working with direct lenders is your best bet. Finding an experienced direct lender means that they’ll understand the ins and outs of the process and will close the loans more quickly. Working with direct lenders will inspire trust and confidence among your borrowers and referral sources, which will mean a better reputation for you. If borrowers and sources trust you, they’ll be more likely to refer future business.

Closing small-balance commercial mortgages is simple once you begin advertising your service and getting the right network of referral sources and lenders in place. With consistent marketing, reliable referral sources and dependable direct lenders, you’ll begin to see an increase in business and income.


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