Weekly Real Estate News
Source: Scotsman Guide —
What is the value of a commercial mortgage broker? How do these professionals prove their value, and how do borrowers and lenders value their services? Merriam-Webster defines value as “relative worth, utility or importance.” It is measurable and quantifiable.
Given these definitions, the fees that lenders pay for services are a function of the broker’s worth. To determine their worth, we have to ask, what value do they bring to the transaction? It sounds easy. Their fee is 1%, 1.5% or something similar because that’s what other mortgage brokers charge. Theoretically, whomever a lender deals with should charge the same rate to stay competitive.
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