For both experienced commercial mortgage brokers and for those just getting started in the business, a thorough knowledge of the commercial mortgage industry is essential. Educating yourself about commercial mortgages will allow you to attract new business, close more loans and earn the trust of your clients and business partners.
Here are some great ways to start or continue to learn about the commercial mortgage business:
Join commercial mortgage forums.
The Internet allows us to learn from people we might not otherwise meet, and for brokers this is a major benefit when trying to learn more about commercial mortgages. Through forums, you have the ability to connect with seasoned professionals and learn from them.
Attend conferences and trade shows.
Commercial mortgage conferences and trade shows are a great way for brokers new to the industry to gain knowledge. Not only do these events generally have experienced guest speakers, it’s also a great opportunity for you to meet lenders and other brokers to gather information and exchange advice.
Talk to lenders.
The lenders you’re looking to do business with are perhaps your most valuable resource, particularly if they’ve been in business for a long time. These are the companies that will determine your success, so it’s best to learn as much as you can from them and about them.
View or download lenders’ educational materials.
Another resource that lenders and commercial mortgage publications often offer is free education about the industry. These can take the form of webinars or blogs explaining various aspects of the commercial mortgage business so that brokers are better prepared to seek and close these loans.
Read about the industry.
Publications and websites that report on and discuss the commercial mortgage industry are a great place for brokers to begin their education. There are many magazines, newsletters and websites available to you, so it’s easy to keep yourself informed about what’s happening in the industry.
As a broker, it’s crucial to keep learning about the commercial mortgage industry. Not only will it allow you to stay on top of trends, it will also let your borrowers, referral sources and the lenders with which you do business know that you are a credible professional. Your continuing education will allow you to thrive in the field because you will be better prepared to close these loans.