How about no more games or worries about being paid or how you will work with your borrowers on your hard earned commercial loans requests? Nothing stings quite like not being paid on a transaction after you have put months into it and successfully delivered for your client. You’ve got to have your commercial mortgage broker fee agreement signed and in place or you are at the mercy of your borrower or lender.
“This is our traditional, comprehensive commercial mortgage broker fee agreement. It is 6 pages with 15 separate legal topics designed to protect the broker. We use it on larger transactions that we want to have solid control over and that we want to submit to multiple lenders. It’s fairly sophisticated so the borrower needs to be able to work with it. On transactions that are smaller and or ones that we want to move quicker on, we use these simpler fee agreements.”
Due to the “broken” commercial secondary market, very few lenders are willing or able to pay yield spread. Brokers have to get paid either on the settlement statement or directly from the borrower outside of close (meaning they write a check). Title companies as well as most banks/lenders require that borrowers authorize payment to brokers by providing a signed fee agreement.
In addition, it has never been more important, to spell out exactly what your relationship is going to be with your borrower, besides just the fee. Do you want an exclusive relationship? To be paid a retainer? To have the borrower reimburse you for expenses incurred while packaging/shopping their loan? What services will you provide? What will be expected from the borrower? How long will the agreement be in place? Do you want to be paid, if you produce a commitment/approval, regardless if the borrower “passes” (and goes with their local bank that they never mentioned to you)? Will you have a minimum fee? Our attorney covered all of these topics and more in this agreement… A legitimate broker fee agreement goes way beyond just the fee.
We spent $1,250 for our attorney to write this 6 page commercial mortgage broker fee agreement. You can alter it for real estate, equipment or business acquisitions and/or a combination of all.
We are offering it for only $85. Again we paid $1,250… Also, keep in mind the agreement will be emailed to you instantly (in Word so you can easily change it) by our software program. Sent day or night with no waiting. No shipping costs.
Combo Agreement Package
Or get ALL of our agreements, which includes 1. the comprehensive Commercial Mortgage Broker Agreement; 2. the simple Mortgage Broker Fee Agreements (there are 2 separate agreements in one); 3. the Co Broker Agreement; 4. the Non Circumvent, Non Disclosure and Confidentiality Agreement and 5. the Agreement Between Broker and Lender. $305 if purchased separately or get ALL for only $225 (We paid our attorney’s over $4,000 for all of them). All come in Word and are emailed instantly upon purchase.