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Fuller Commercial Real Estate Greg Morris talks about what it takes to make it in commercial real estate business and where good commercial brokers come from…
www.Dikman.com Discussion by Ben Dikman, Vice President, The Dikman Company on why it is important to use a Commercial Real Estate Broker. A commercial real estate broker offers expert negotiation skills. This can oftentimes result in such value adds as free rent, reduced tenant and moving expenses, and much more. It pays to use a Commercial Real Estate broker! The Dikman Company provides the following Real Estate Services Commercial Property Leasing, Commercial Property Brokerage, Commercial Property Management, Tenant Representation, Investment Counseling, and Asset Analysis. For more information about why you should use a Commercial Real Estate Broker visit: www.Dikman.com
Commercial mortgage brokers, focus their practice on commercial properties. There is little differences between commercial mortgage brokers and residential mortgage brokers. The main difference obviously is that one broker focuses on commercial lending and the other focuses on residential lending.
A Commercial mortgage broker is a middle man of sorts. He works for businesses to secure lending for property that will be used for business purposes. There is a commission for this service that the broker provides. Typically the commission is a percentage of the overall loan. This fee is usually rolled into the loan. The idea behind the practice is that a broker can “shop” the loan for the best rates and overall best deal.
Typically a commercial mortgage broker will have relationships in place with lenders and can easily view a loan application and know where to apply, this cuts back on the time it would take for a business to shop their own loan application. The broker acts as a go between the lender and the business and will advise the business of an special requirements that the lender will have to secure the funding.
Commercial lending is a lot more complex than residential lending. There is more paperwork to fill out, and most commercial loans start at a minimum loan amount. In addition there are more lending options available for commercial funding then there are for residential funding.
Commercial mortgage brokers are a good option for businesses because they take the responsibility off the shoulders of the business to secure financing to build the business or to expand an existing business.
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Small business lending picks up tentatively
More banks are participating in federally backed SBA loan programs again, but they’re not fully committed. Federally backed loans to small businesses in Southern California and across the nation are increasing as more banks participate in federal lending programs — at least for now.
Read more on Los Angeles Times
Banks Return to Commercial Mortgage Bonds
Once dominant, and then dormant, commercial real estate loans are beginning to show signs of life on the trading floor after a two-year slump, Jotham Sederstrom reports in The New York Times.
Read more on New York Times
Fed’s Duke: Bank Lending Dropping, May Lag For Years
Bank lending continues to decline nationwide even though the banking sector is recovering, and it may be years before lending returns to pre-crisis levels, Federal Reserve Governor Elizabeth Duke said on Wednesday.
Read more on Banker & Tradesman
Brokers also want to be your banker, lender
Big brokerages are working to boost banking and lending services to their clients, eager for new revenue to offset the squeeze from volatile markets and nervous clients clinging to low-margin bond and cash funds.
Read more on Reuters via Yahoo! News
I’m a college student in Hawaii who wants to become a commercial real estate broker.. I don;t know if i should stay in honolulu or head back to the mainland where i am from.. Would I find it easier to break into the business in a major city in California? With a college degree in finance and a desire to succede what are my chances for success in this industry? Also what are some other careers in commercial real estate?
Thanks
Is there a range of commissions or fees most commercial real estate brokers use? For example residential real estate varies but is between 5-7% depending upon the area of the country.
Could someone provide a rough outline of commercial real estate broker pricing?