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Mar 30, 2005

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].
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