Befriend your commecial mortgage broker.
Building a good relationship with your commercial mortgage broker can pay huge dividends in the long run. We all understand the value of a commercial mortgage and the flexibility it can offer a growing business that needs office space to address the future growth of the company. As your company grows it will be important to minimize costs, even financing costs that come from the commercial mortgage . Developing a dynamic relationship with your commercial mortgage broker can help you obtain the terms and conditions desired in your commercial mortgage.
Tips for Building a Lasting Relationship with Your Commercial Mortgage Broker
1. Be sure to meet with your commercial mortgage broker in casual settings where you can enjoy each other’s company. Don’t be afraid to call up your commercial mortgage broker and ask to do lunch. If the broker is truly interested in your business and providing you with valuable services, he will jump at the chance to meet with you regardless of whether you are planning to refinance your commercial mortgage or preparing for a new commercial mortgage. As you meet with your mortgage broker, take time to really get to know him. People appreciate it when you show genuine interest in them and are more likely to help you out when the time comes. If you are in need of some help from your commercial mortgage broker, be sure to meet with him well in advance of requesting assistance. Nobody likes to feel like they are being used, so treat the broker like a true friend.
2. When you do find yourself in need of a commercial mortgage, let your broker help you as much as you can. Allowing your commercial mortgage broker the opportunity to demonstrate their wealth of knowledge and expertise will make the broker feel good about himself. Everybody wants to feel useful and needed, so help your commercial mortgage broker feel this by asking questions regarding the commercial mortgage. Even if you already know all the answers and don’t require any help in the process, it is important to make the broker feel like he is an important part of the commercial mortgage process.
3. Never appear to be too needy or helpless. There is a fine line between helping the commercial mortgage broker feel useful and overwhelming the broker and using up all his time. A commercial mortgage broker has more clients than just you, so be courteous of his time. If you become a burden on his time then the broker will likely try to politely dump you as a client. On the other hand, if you play it just right, the broker will realize you are the perfect client since you require only so much of his time and he will work to keep your business regardless of the terms.
More than anything, building a healthy relationship with a commercial mortgage broker is just common sense. Think about how you treat your friends and associates in the professional world and interact in the same way with your broker. As many businessmen have discovered, developing a great relationship with your broker can result in an ideal commercial mortgage that fits the needs and desires of your business.
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