If you’re a mortgage broker new to the commercial mortgage industry, it can be difficult to know where to start your search for leads. This is where networking comes into play. There are plenty of groups and events that can give you access to potential borrowers, as well as potential referral sources and lenders.
If you want to build your network, here are some great places to start:
Join your local Chamber of Commerce.
A town or city’s Chamber of Commerce is a great place for commercial mortgage brokers seeking to expand their network of potential borrowers and referral sources. Once you join, you’ll be able to interact with small business owners in your area, as well as financial professionals who work with clients who may be in need of financing for their commercial properties.
Participate in online industry forums.
The internet is one of the most important tools at your disposal, and every commercial mortgage broker should take advantage of the opportunities it presents. Across many social platforms, there are plenty of groups for both small business owners, as well as professionals in the commercial mortgage industry. Join these groups and begin connecting with potential borrowers, as well as referral sources and commercial mortgage lenders.
Attend trade shows and conferences.
If you’ve got the time and resources, industry trade shows and conferences are worthwhile. These events allow you to build connections with lenders, referral sources and even other brokers. Not only are these events great networking opportunities, there are often seminars with experienced commercial mortgage professionals, so you can learn more about how to succeed in the industry.
Develop a follow-up procedure.
No matter how you connect with borrowers, referral sources and lenders, you should establish how you’re going to follow up with each of them. Whether it’s the occasional phone call or regular emails or a combination of both, be sure to remain consistent and always let them know how your services will benefit them.
All of these networking groups are great sources for commercial mortgage brokers. Joining local networking groups, like the Chamber of Commerce, establishes you as a commercial mortgage expert in your area, while internet forums and trade shows allow you to connect with people outside your area. No matter which groups you join or events you attend, remember to go out of your way to help your new connections and to let them know how you can help them. As long as you are an active member of the above groups and are willing to help your fellow group members succeed, you shouldn’t have much trouble finding new sources of commercial mortgage leads.