Whether it’s college or professional level, the American sport of basketball is a game of speed, precision and agility that has interested spectators for over 100 years. While it might not seem like basketball is similar to brokering small-balance commercial mortgages, the fact is that success in either field requires knowledge of the fundamentals, quick thinking and the right skills. So, if your small-balance commercial mortgage lender was a basketball team, what positions would the employees play? And how do you fit into this team?
You’re the point guard.
Typically, the point guard is a team’s best ball handler and passer, and is typically known as the “floor general.” They’re also usually a quick and skilled shooter capable of leading a team to victory. As a commercial mortgage broker, you’re the point guard of each deal you work. You’re the one who gets the ball rolling and makes decisions early on in the process of the loan that determine its successful closing.
Your sales rep is the shooting guard.
Every point guard needs a capable shooting guard in order to succeed. In addition to good shooting skills, these guards are skilled ball handlers and have the ability to drive the ball to the net. The point guard and shooting guard need to build trust to work together and rely heavily on good communication to succeed. Your sales rep is your shooting guard. They’re the ones who will go over the deal with you early on and help you drive it to approval. Because of this, you and your sales rep need to build a good relationship, and keep the lines of communication open and accurate.
The underwriters are the forwards.
The small and power forwards are two of the most versatile players on the court. These players are typically skilled defensively and within the post or low blocks. These players can function in much the same way that a shooting guard or a center can and are invaluable assets. Your lenders underwriting team is also versatile and indispensable throughout the loan process. They do a lot fundamental work to move a deal forward. Without the underwriters, many problems would go unsolved, and deals wouldn’t be able to progress.
The processing team is the center.
The center is regarded by many as possibly the most important position in basketball. They play in the paint and are generally the closest to the basket. Their job requires constant attention to detail to score down low and defend the basket against the other team. Likewise, your commercial mortgage processing team is the last link to getting your borrower a commercial mortgage. They need to pay close attention to the details of a loan and to see problems coming from a distance so that they can be solved quickly. Once these issues are rectified, it’s easy for the processing team to take your deal to the basket and score big points for you.
To win a game, each member of a basketball team must do their job, and all of the players need to work together. Likewise, when working to close a mortgage, each member of a small-balance commercial mortgage team needs to play his or her part. If everyone cooperates, every good commercial loan you submit should be a slam dunk.