Commercial mortgage insider: Are you prepared ... Are you ready?Anthony M. Gramzacommercial loans, NAMB 2000 Fall Commerical Symposium, training
Two questions that you should be asking yourself in today's
market are, "Am I prepared?" and "Am I ready to accept the changes
and the potential business in the world of commercial loan
brokering?"
Over the past several years, I have consistently encouraged
brokers in the mortgage industry to consider the opportunities in
"commercial loan brokering." The opportunities are thereare you
ready to accept them?
The National Association of Mortgage Brokers (NAMB), NAMB
Educational Foundation (NAMBEF), and the Volunteer Broker Committee
of the Commercial Task Force will be sponsoring the NAMB Fall
Commercial Symposium and Lenders Conference at the Opryland Hotel
in Nashville, Tennessee, Tuesday-Friday, October 17-20. If you
intend to make your office a "full-service operation," want to make
commercial transactions, wish to assist your clients in their
desires to vary their investment portfolios, and accept newfound
commissions, then you must attend this symposium.
Both Commercial Loan Brokering I and II will be offered.
Commercial Loan Brokering I is a very basic course offered to those
who have little or no experience in commercial brokering. Over the
past two years, this course has received much praise in helping
inexperienced commercial brokers to achieve a "comfort level."
Commercial Loan Brokering II is the second in a series of six that
will be offered by NAMBEF. Since this will be the first time that
course II is offered, registration is limited.
Let me add just a few of the many opportunities this symposium
offers:
"meeting your fellow brokers from around the country, sharing
thoughts and ideas, and the possibility of doing a co-brokerage
transaction;
"attending various workshops and sessions conducted by lenders and
your fellow commercial Mortgage Brokers;
"increasing your knowledge of the ins and outs of commercial loan
brokering, what the marketplace is saying, and how you can prepare
both yourself and your office for the opportunities and challenges
of 2001;
"increasing your lender portfolio by personally meeting the lenders
who will be doing business with you in the years ahead;
"finding a home for that commercial transaction that you or an
associate in your office has been working on, by presenting your
transaction in the "deal maker room"; and
"increasing the income opportunities both professionally and
personally.
Hopefully, I have, as they say in the industry, "whet your
appetite." Take the first step and move forward into commercial
loan brokering. Where you came from isnt as important as to where
you are going. Minds are like parachutesthey function only when
they are open. This symposium will offer many opportunitiesso grab
them!
The marketplace continues to seek transactions, and,
interestingly enough, loans in the $250,000 and up category are
readily available for placement. With all of the changes in the
conduit marketplace, the competition for loans, and the abundance
of mortgage funds, the doors are wide open to "make a deal happen"
and increase income potentials. Experienced brokers will tell you
that you must begin with the smaller transactions, run through all
of the problems and frustrations, get a few "under your belt," and
continue your education as well as "on-the-job-training." Consider
developing a business relationship with a "mentor." Find a
commercial loan broker who is well established, has a good
reputation, and is willing to advise you with the transactions that
come your way. If you have to co-broker, do so. You may have to
share your commission, but the deal will be done, the experience
will be learned, and as they say, "half of the pie is better than
none!"
Commercial loan brokering is no mystery! The opportunities it
offers are unlimited, and the knowledge and benefits are offered to
all who seek them. Are you ready?
Anthony M. Gramza is President of AMG Commercial Group,
NAMBEF Region I Director, and Education Chair for the NAMB
Commercial Mortgage Task Force. He may be reached at (716) 264-9540
or E-mail
[email protected].
