While much of the country still has a ways to go before temperatures cool and it really starts feeling like fall, one indicator that the seasons are changing is now beginning: football. Football is a game that requires determination, strategy, and teamwork to achieve success. These are also crucial factors that will determine whether a commercial mortgage broker thrives and closes deal with their lending team.
Here’s a good way to look at how closing commercial mortgages is like football:
You’re the quarterback.
Simply put, the quarterback leads the football team. Likewise, a mortgage broker is the leader when they submit a commercial mortgage to a lender. Just as the quarterback sets the strategy for the game, you set the tone for how each deal you submit will progress. Like the quarterback, you have an important role to play as a commercial mortgage broker, so it’s crucial to stay focused and work with the rest of your team to make sure your deals close smoothly.
Your account representative is your go-to receiver.
Trust is a crucial element of the relationship between quarterbacks and wide receivers. Quarterbacks need to be confident in the receiver’s abilities, just as brokers need to be confident in the abilities of their account rep to get each deal that’s submitted through the lending process. Your account rep is going to be your biggest asset when it comes to the commercial lenders you work with, so you need to build a good relationship with them.
The underwriting team is your offensive line.
While they rarely achieve the same level of recognition as quarterbacks, receivers or running backs, there’s no overstating the importance of a good offensive line. And just like the o-line takes on the other team’s defense so that their quarterback can move the ball down the field, your lender’s underwriting team takes on each deal and works through any obstacles or setbacks to get the deal closer to closing.
The processing team is your running back.
Running backs are some of the most important players on a football field. They’re sturdy, smart and they know how to exploit weaknesses in the defensive line to advance the ball. Likewise, your lender’s processing team will be able to find any potential issues in the deals you submit and work to fix them quickly.
Every person on a football team has to play their role in order to win games; the element of teamwork is crucial to their success. It’s no different in the commercial mortgage industry. You and your lender’s team need to do your parts and cooperate throughout the process in order to make sure the lending process goes smoothly. When you all function as a team, scoring a closed deal and a good commission should be a breeze.