Between showing properties, creating listings, processing deals, and staying on top of marketing, how much time do you have to help buyers shop for financing? Can you connect buyers to the best lenders in their industry as quickly as possible? Want to spend less time generating leads and more time closing deals? These are questions every real estate agent should ask. The answer to all dealings with a loan broker.
Financing is key to any real estate deal. Without it, there is no agreement. While some super brokers hold both a real estate license and a broker license, most do not. If you don't have a dual license, working with a mortgage broker is key to closing deals smoothly and quickly. We manage the financing your buyers need to support the deal. Plus, we take the burden off your desk. Still not sure? Here are some ways a mortgage broker can improve your real estate business.
Emergency Clauses
A financial condition clause in a real estate contract protects your buyer from debt if they reach an economic barrier. Kicking the buyer out, however, doesn't help either of you and it doesn't endear the seller either. All three of you want to close the deal smoothly and a mortgage broker can help you do that.
We build our business on building relationships with lenders so we know who is most likely to approve the financing your buyer is looking for. Most lenders will reject a loan if they do not receive a complete application the first time. Some lenders won't even reveal the reason for the loan denial or follow up to ask for more information. The broker will help your buyer gather all the necessary materials for a competitive bid package and secure pre-approval. This way your buyer can stay protected and more likely to stick to the deal.
Lenders like to stay open to a range of borrowers, but may specialize in one area. Lenders know which lenders to target for your buyer's industry and property class. Don't let buyers waste time shopping around for the perfect lender. Don't waste your time on bad lenders. We filter out the bad apples and bad deals, saving you and your customers time, money, and hassle.
Funding at All Levels
You don't need a loan broker license to know the many types of loans out there. However, not all lenders offer all types of loans. If your buyer isn't sure which loan category to look for, we can help them put together a multi-category loan that fits their needs. We can also help borrowers choose from a range of financing options before packaging. Our wide selection of financing solutions allows you to stay flexible with the demands of consumers.
We have options from major lenders like banks and traditional lenders. This part of the money pool makes up the bulk of the money. It is usually the long term and lowest interest part of the package. Our lenders are experienced, reliable, and in it for a long time. With a deep understanding of the real estate industry, they are honest and transparent.
Mezzanine loans are essentially a bridge between debt and equity financing. Mezzanine lenders tend to be more specialized and riskier than traditional lenders. Therefore, they are very selective when approving CRE loans. Since most mezzanine loans are not secured by collateral, they are more expensive than loans offered by major mortgage lenders. Working with a broker reduces the costs associated with mezzanine financing through special lender deals.
Brokers connect directly with equity investors willing to invest in your buyer's business. Equity investors usually want a different view of your buyer's business than a traditional lender, as they are focused on growth. We help present your buyer's deal in the best possible way to attract investors who will compete for the opportunity to finance it. Let's put together a clear return profile they can't resist.
Marketing Support
Buyers looking to buy real estate are looking for a location and financing. Therefore, it makes sense that real estate agents and mortgage brokers will have many of the same clients. When our borrowers want to contact properties in their area, we want to refer them to a real estate agent we know and trust. That could be you!
Lenders often use brokers to find investment deals. These relationships allow us to simplify the financing process by facilitating communication with buyers. You can think of our brokerage as a place where lenders, buyers, and real estate professionals meet. When you help buyers navigate the auction smoothly, they talk, and word of mouth is a powerful sales tool that generates leads.
- In summary, having a relationship with a loan broker:
- It provides pre-approvals for your buyers
- Ensures that a complete application goes to the lender
- It supports your marketing efforts and generates leads
- It provides easy access to flexible financing at any level
- It updates during the financing process to help you stay on track
- It filters out bad lenders so you and your buyer can save time
If you want to make progress with your real estate business, working with a mortgage broker can make it happen. Contact us today about building a referral relationship so that together, we can close more deals faster.
