Home > Commercial Broker Fee Agreement
Attention - Commercial mortgage brokers, commercial loan officers, residential loan brokers and residential loan officers:
Imagine no more games or worries about being paid on commercial loans. Nothing stings quite like NOT being paid on a commercial mortgage after you've put months into it and successfully delivered for your "client" to have either them or the LENDER screw you. You've got to have your commercial loan broker fee agreement in place.
Have you heard banks say to you "oh, we don't have formal agreements with brokers, but we'll pay you your fee." Or how about this one "Why would we not pay you? You're a valuable source and we what to keep you around?" Theres' many more like, how about the breif one sentence email or that they "forget" to sign the fee agreement they sent you, and they act annoyed when you ask them about it.
Commercial Loan Broker Fee Agreement
Or heres one I used to hear all the time from borrowers, after submitting a term sheet that fits exactly what they wanted and what I quoted "oh, we know xyz bank... not to be rude by why do we need you?" Or how about this one "Jeff (me) we've known each other for years, I will pay you. But, the last thing I want to do is get my attorney involved in reviewing or writing some kind of fee agreement. It will cost me hundreds if not thousands of dollars. Lets get this thing going first, than we'll take care of you at the appropriate time."
Bottom line, if you haven't been screwed by either a borrower or a lender, than you're probably not doing as many deals as you want. If you are not protected properly you will get screwed, it is just a matter of time. There aren't a lot of words more frustrating to hear than "well, what do you have in writing?" after diligently working on a file for months, only to realize that you will not get paid or only get paid a percentage of what you were originally quoted. Or have to take someone to court with weak documentation. You have to have your commercial broker loan contract signed and in hand.
Fee Agreement for Commercial Loan Brokers
Believe me when I say that we have learned this lesson the hard way. It has happened to us on multiple occasions where well known "reputable" banks simply changed what they said they would pay us on ysp. Many times internal emails won't cut it either. Or, borrowers will try to give you a sob story on why you'll have to wait or worse "what do you mean, I thought the bank pays you".
You got to have it in writing or you are at their mercy.
Quick story here, I had three loans in process with a very well known small balance lender (That I would like to name but won't). We had done multiple transactions with this lender and felt confident this issue would never come up. Surprisingly, our BDO (business development officer) was fired and our files in process where given to another BDO that we did not know. All three loans closed within one week of each other. When we received our check it was 30% lower than what we originally agreed and priced out with the previous loan officer. When we called both the new BDO and his bosses they all said "well, what do you have in writing". And yes, we ate it...
Commercial Loan Broker Fee Agreement
We spent $750 for our attorney to write this commercial mortgage broker fee agreement. You can alter it for real estate, equipment or business acquisitions and or a combination of all three. It will be emailed to you instantly in a Word document, so you can easily change it, as well as save it onto your computer. Now only $99. On sale for $69.96.
OR, Get the:
Combination Commercial Fee Agreement Package
Which includes, the discussed broker fee agreement, an agreement between lender and broker, a non circumvent agreement and a co broker agreement. Buy separately for $190. We paid our attorney $1,725 for all four. Or get all at the discounted price of $139.95 Now only $84.95.
Price goes back up Oct 1.
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Get it in writing!!!
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Ps: Remember, YOU risk nothing. I'm giving you a 60 day, 100% MONEY BACK GUARANTEE and am taking all the risk. Why would I do this. Because I know the day will come when you will be stuck on a deal and will want to co broker it with us and you will not want to burn any bridges with us a viable source. So buy it now! and protect yourself and your interests. Don't let yourself get taken advantage of.
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