Good news: the small-balance commercial mortgage industry is finally returning to normal. Better news: because of this encouraging trend, brokers now have more opportunities to grow their commercial business. But like millennials and avocado toast, whose fates are inevitably entwined, the trick is knowing which lender to partner with to really boost your business. Some scenarios are fit for traditional banks.
Have you ever heard a marketing expert talk about the importance of “getting your name out there?” In the commercial mortgage industry, effectively broadcasting your ability to close commercial loans can only be accomplished through the adoption of a multi-pronged marketing strategy.
Focusing your efforts on the following 7 channels can help you increase small-balance commercial production by connecting you with potential clients and new referral sources.
Ready, set, go! Your plan is in place, you’ve positioned yourself to diversify by offering small-balance commercial loans, and now it is time to source those first few transactions. We suggest starting with who and what you know – making potential loan opportunities easier to find, and getting you off to a good start.
Set it Up: 5 Steps Before You Source You are convinced that small-balance commercial real estate loans present a good opportunity to diversify your business. Now, you might be wondering how to get started. Before you begin sourcing commercial opportunities, it’s wise to spend some time planning and setting yourself up for success. These five…