Finally, always remember it is the lending institution that pays the lending officer’s pay cheque. Thus, when push comes to shove, the commercial lending officer will ultimately favor his employer in any lending negotiations. In contrast, as you are my client, I owe an undivided fiduciary duty and loyalty to you. This fact will be of great importance to you as I negotiate the mortgage interest rates and terms on your behalf.
When you think about it, your time is very valuable and you are not a commercial mortgages specialist. Since you wouldn’t use an amateur to a job worth hundreds of thousands or even millions of dollars, you can either spend years learning how to be a commercial mortgage specialist or hire someone who already has the experience. Many companies and investors are now making their commercial mortgage broker a valuable, long-term member of their commercial investment property team, along with their lawyers and accountants.
Hiring a professional commercial mortgage broker frees you up to do what you do best, grow your business.