If you
own a commercial mortgage company, you can now keep every
loan agent in your office busy full-time working fresh commercial
mortgage loan applications from C-Loans. Please click here
to view a sample lead.
You
can do searches as targeted as this: Please show me every
commercial loan application that is less than ten days old
in Cook County, Illinois; where the loan amount is between
$500,000 and $10 million; where the loan type is a permanent
loan or a bridge loan; where the property type is either
a hotel, an office building, or an industrial building; and
where the borrower's credit is at least satisfactory. You
will have lots of loans from which to choose.
"Gee,
George, that sounds pretty good - fantastic, actually.
But are the leads any good?"
There
are commercial mortgage brokers currently working C-Loans
leads who have already made close to $1
million in fees using our leads -
one million dollars! These
are small mortgage companies that you have probably never
heard of - TCRM Financial, PMB Capital, Integrity Financial
- but they are cutting a wide swath through the commercial
lending industry because of our leads.
"Are
the prices charged by C-Loans reasonable?"
If
you have ever paid for classified advertising, magazine advertising,
billboard advertising, or radio advertising, you will agree
that advertising on your
own for commercial loans can be phenomenally expensive.
And when you do get a lead, its just as likely to be a tiny
$50,000 loan request or a $2 million mezzanine loan request
on a parking garage in Maine. You frequently get junk or
stuff you can't do.
But
when you buy a lead from C-Loans, the lead will be the right
size, the property will be close to your office (if you so choose), the credit
will be good (or bad if you prefer), and the loan type will
be something that you can do. For example, you may not want to waste advertising dollars generating leads
for construction loans right now.
Buying
leads from C-Loans is an immensely more efficient way to
spend your limited advertising budget.
"So
not only will I owe $3 or so up-front, but I will also
owe 37.5 basis points (slightly more than a third of a
point) if a deal closes."
That's
right. Just notify our office when a deal is close to closing,
and we'll send you an invoice.
"How
many other brokers will be buying the leads?"
Only
a total of six mortgage brokers or lenders will be allowed
to buy any particular lead, plus the direct lenders selected
by the borrower when he originally applied. Don't worry too
much about competing against direct lenders. Compared to
mortgage brokers working on commission, salaried bankers
are a pretty sleepy lot. Your real competition will be the
three to five other mortgage brokers allowed to buy the same lead.
If you want to out-sell these guys, here is a very important
C-Loans tip: Success on C-Loans is all about speed, not small differences in pricing. The first mortgage broker with decent rates to reach the borrower usually gets the deal.
And once you have closed five loans for C-Loans, we'll add you to the system as if you were a lender.
From then on, you'll never have to pay for leads upfront again. But I have an important secret for you. The leads you buy are better than the leads that our direct lenders receive. The reason why is because the fresher the lead, the better. Waaaay better. It turns out that C-Loans is not a rate bidding war. Surprised? We certainly were. It turns out that success on C-Loans is all about speed. By shelling out a lousy $1 to $3 for a lead, you can buy leads that are less than a minute old and beat everyone to the punch. (The wise businessman will carefully re-read this paragraph.)
"Okay,
George, this sounds like a no-brainer. What do I do?"