To succeed as a commercial mortgage broker, it’s important to understand how to choose the best lender for each of your borrowers, as well as how to sell the deals you’re able to secure for them. If you’re working with non-bankable borrowers, this can be a challenge, but there are ways to manage expectations and sell these deals to your clients.
Below is a selection of our blogs written to help brokers sell small-balance commercial mortgages to their borrowers.
How to Place and Sell a Small Business Mortgage Loan
Mortgage brokers in the business of alternative commercial financing have two main responsibilities. The first is finding the right lender for your borrower’s commercial mortgage scenario. The second is selling your client on the small business mortgage loan you’re able to obtain for them. It might seem daunting at first, particularly if you’re new to commercial mortgages for small businesses who can’t obtain bank loans. But if you know the appropriate steps to take, brokering small business mortgage loans is a simple way to drive new business and close more deals. Click here to learn more.
Non-Conforming Commercial Mortgages Are a Great Tool for Small Businesses
Whether you’re a commercial mortgage broker, a banker, an accountant, or a financial advisor, you’re working with small business owners in your community. Many of these individuals are going to need mortgages, but won’t qualify for bank loans, so it’s important that you know where to direct them to help them achieve their financial goals. A non-confirming commercial mortgage is a great tool for many small business owners. Click here to read about how these mortgages allow your non-bankable clients to overcome various obstacles and obtain financial stability.
The Best Way to Sell Small-Balance Commercial Mortgages
One of the most common challenges every commercial broker faces is selling alternative, small-balance mortgages to non-bankable borrowers. If your clients went into the process expecting bank rates and terms, it becomes even more difficult. The best way to sell small-balance commercial mortgages is to explain from the beginning about the type of loan your borrower is more likely to qualify, and then sell that loan as a tool your borrower needs to accomplish their goals. To do that, you need to find out why they need the mortgage. Click here to learn about the most common reasons.
Selling Your Skills as a Commercial Mortgage Specialist
As a commercial mortgage broker, one of the most important factors in your success is your status as a specialist in the industry. To attract new business, you need to sell your skills as a commercial mortgage expert who can help borrowers to achieve their goals. Click here to read about three great ways to sell your skills as a commercial mortgage expert.