Brokering - Why hire me?

This is a great question and it deserves a great answer.

There are thousands of hard money brokers nationwide brokering billions of dollars annually. All of them have some similarities and all are somewhat different as well. 

I want to clarify one point, you do not need to hire a broker because you can deal directly with the lender yourself. However, lenders give borrowers a lower interest rate and better loan terms if they are working with a broker, and these are 2 great reasons why you should always hire a broker. This has been, and is now, the industry standard practice. 

Also, having a broker working for you will save you of lot of time because otherwise you would need to vet the lenders, shop around, and negotiate loan terms yourself. 

Other than broker fees, there are no real industry standards written in stone for brokers but I will outline some key points. Full disclosure, on a personal note, I do not work on loans for cannabis or strip club properties. 

The following salient information will help you understand the key factors to contemplate and analyze before hiring a broker. I am taking you behind the scenes!! Call me today to discuss your current deal or your next deal. 

Essentially, a broker is connecting the lender and the borrower and as such he/she has only one job - work to facilitate a great deal. 

KEY POINT - One of the brokers primary duties is to collect your documents. It would be VERY wise to click on the “Documents” tab above and call me and discuss your documents situation. I want you to be 100% ready and this means having all of your documents ready to go BEFORE you have a real estate deal. 

Get organized!! Plan ahead!! Plan for success!! 

The best time to call me is now, before you have a real estate deal so we can game plan your next deal. Let's plan your success!!

KEY POINT - The sooner you turn in your documents the sooner the lender can process your loan and get you a closing date. Lenders hate it when you want a 5 to 7 day closing and you still have not turned in all of your documents. This is a very bad situation for you and the lender and it could potentially stop the lender from working with you, and this should be avoided. You do not want to look like an idiot in front of the lender because they could refuse to work with you.

These are the top 3 pertinent qualities for brokers to have.

1 - Leadership skills - they must take charge and pay attention to details.

2 - Competency - they need to know how to negotiate and do their job.

3 - Client focus - the broker works for their client/borrower and must be 100% loyal to their client and provide 5 star customer service - Period. Full stop!! A broker should seek to build a strong relationship with their client. 

The broker must provide great customer service, transparency, and must exercise prudence to achieve success. As you know not all brokers have these qualities, and not all brokers can build strong relationships with their clients.

Why hire me? 

Above all else you and your success are my focus. These are the 6 important benefits I always provide my clients.

1 - The Inner Circle program - call me for more information.

2 - Strong leadership skills & the right values - I am laser focused, disciplined, and dedicated to achieving your success.

Not every broker has leadership skills, the right focus, or the right attitude. Not every broker has prudence or the right values. Unfortunately, and I hate to say this, some self-centered brokers only focus on making themselves rich, instead of focusing on your success.

3 - Low fee - I only charge 1 fee (paid at closing) for all my work. It is very reasonable and low compared to the industry standard. My fee structure is designed to save you a lot of money (per deal) because my fee decreases as the loan amount increases. I intentionally do this because I believe this is fair to the borrower, and I want to keep your expenses low. Please note many brokers do not do it this way. They charge a fee regardless of the loan amount except if the loan is $1,000,000 million dollars or more.

The industry standard for broker fees is between 1% and 3% (points) of the loan amount. The majority of brokers charge between 2% and 3% (points). I charge less, and in my opinion you should not hire a broker who charges you 2% or more for their services. Why would you? I do not see any reason for this. 

I always provide and fully explain my fee agreement before you sign it. This is full transparency and allows you to think it over. I do not have any other fees, any upfront or hidden fees. Also, I get paid at closing not before. Call me for more information.

4 - Quality lenders - I only work with high quality 4 and 5 star lenders that have been vetted. I work very hard to avoid lenders that have high interest rates, charge a prepayment penalty, and high fees. This is one way to get you the best deal possible. 

Most brokers work with any lender and they do not take the time and care to vet lenders possibly resulting in a very bad deal for you. 

5 - Customer service - My goal is to build long term healthy relationships, and to this end, I always provide 5 star customer service because you are my business. I am flexible and this allows me to work well with others. I communicate well, and I will always be honest and give you my best opinion on the current situation even if it's very uncomfortable for you to hear. Other brokers may not do this or may try to put lipstick on a pig. This does not serve you at all, and may even be detrimental to your decision making. Other brokers may not be flexible and may not give you 5 star service. I invite your feedback and value it. 

6 - Negotiate – As your representative I am aggressive in negotiating the best possible loan terms for you. However, please know that lenders are limited in what they can do and on being flexible, therefor negotiating will always be very challenging. Some brokers may not even try to negotiate, or are not very good at it and can’t get you a great deal, while others may be better at it.