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What Are the Qualities of a Superior Apartment Commercial Loan Broker? (Part 2)

October 23, 2014

Welcome to “What Are the Qualities of a Superior Apartment Commercial Loan Broker (Part 2)” Actually last week our blog title was about apartment loan brokers. I decided to include all commercial brokers. The qualities of a good commercial loan broker are almost synonymous to those of a good apartment loan broker.

In last week’s blog, three points were covered:

1. Make sure that you pick a commercial loan broker who is so well experienced, and of such strong integrity that if he has carefully examined your loan, picked a lender, and says he can close the loan, that the chance of the loan closing is very high. This is taking place at the point of application acceptance.

2. A superior commercial loan broker gives you excellent customer service. Your calls are returned quickly; your loan is done in a timely manner, etc.

3. He will take the time to educate and explain important things to you as opposed to being in a hurry - not take the time to explain important things you may not understand.

This week we are going to cover two other things that are qualities of a superior commercial loan broker:

1. When you do your due diligence to check out their reliability, you find that their customers speak very highly of them. This includes reference letters you read, and very importantly includes customers of theirs who you talk with. Also, do an online and offline search to see if there are some severe problems with them. Like in other businesses there are unscrupulous people you have to watch for.

Check if they are they rated by the Better Business Bureau. Our company – www.ApartmentLoanStore.com a division of Business Loan Store, has an A+ rating with the Better Business Bureau.

2. When you talk with the commercial loan broker, you get a good feeling about them. This is not an accurate guide all the time for everyone. But, if you talk with a potential commercial loan broker, and you get a negative intuitive/ negative gut feeling about them, you might have a second thought about working with them.

I once hired someone who was highly recommended and had so many positive qualities I was looking for. However, I had a negative inner feeling about them. I hired this person anyway and it was a disaster.

Call or email me if you have questions concerning this article, apartment loans or other types of commercial loans. You can reach me at 214-695-7310 and info@apartmentloanstore.com

To discover more about our loan products and rates, see our Loan Products page.

Bruce Painter, Director of Marketing, Business Loan Store