5 Time-Saving Perks for Commercial Real Estate Lending
5 Time-Saving, Close-Rate Boosting, Deal-Finding Finance Lobby Features
Tired of the inefficiencies inherent in the commercial real estate lending industry? Looking for a way to streamline your deal process and increase your closing rate?
If this sounds like you, Finance Lobby is the solution.
In this article, we highlight five unique features that make Finance Lobby the best solution for commercial real estate lending, including:
- See the deals you want, not the ones you don’t
- Exposure to every deal in your market
- Important details at your fingertips
- Easy and accurate soft quotes
- Direct communication with the broker
1. See the Deals You Want, Not the Ones You Don’t
One of the most inefficient aspects of the commercial real estate lending industry is having to sort through deal after deal that you know will never work in order to find the one diamond in the rough that actually meets your lending criteria. With Finance Lobby, that hassle no longer exists.
Our solution allows you to easily set your preferences related to deal size, property type, location, and more so that you only see the deals you want and none of the ones you don’t. For example, if you specialize in ground-up office development loans in downtown Austin, you probably don’t need to be seeing a deal for a retail center in Raleigh.
You’ll be notified via email each time a deal matching your criteria is posted, completely eliminating the need for you to make phone call after phone call hoping to find one that works. Our algorithm does the work for you, scanning through hundreds of deals and only surfacing the ones that make sense for you.
Once you’ve identified the deals you like, Finance Lobby gives you the ability to keep track of them in an easy-to-scan dashboard. This way you can have all of the deals with the most potential in one place where you can easily compare them and decide which ones you’d like to pursue.
2. Exposure to Every Deal in Your Market
When brokers are hunting for a lender, it’s not uncommon for them to make 20, 30, or even more phone calls trying to find the right one. While that may seem like a lot of calls, if you aren’t on the receiving end of one then you’ve struck out on the deal before you even got started.
Finance Lobby solves that problem by exposing you to every deal in your market that fits your lending criteria, not just the ones you receive a call about. Simply log into your account to view all the deals in your area, then quickly sort through them to find the ones that work for you. No more worrying about missing out on deals when your phone isn’t ringing.
It’s a win-win for everyone, giving brokers an easy way to find a lender and giving you the opportunity to take a swing at deals that you otherwise might have missed.
3. Important Details at Your Fingertips
Another frustrating aspect of the commercial real estate lending industry is having to constantly search for the details you need to make an informed decision. Whether it’s having to search through a non-standardized form looking for a specific number or having to go back and forth with a broker over email because a detail was left out, it can be a slow and inefficient process.
Finance Lobby is changing that process by delivering all of the information you need upfront, down to the smallest detail. Information related to project type, loan amount, timing, terms, asset, sponsor, experience level, and more will all be included in the borrower’s deal request, leaving you time to focus on analyzing the deal and getting it to close.
4. Easy and Accurate Soft Quotes
Soft quotes are a key step in the commercial real estate lending process, but they can be a challenge to get right on the first try. If the borrower doesn’t like your quote, you’ll find yourself back at the drawing board and can easily fall into a time-consuming cycle of small changes.
With Finance Lobby, all of the insights you need to understand what matters to the borrower are highlighted directly on the interface. The broker can provide their view of what matters most to the borrower in terms of time to close, recourse, leverage, dollar amount, interest rate, and more, allowing you to tailor your quote to the nuances of their preferences.
Better yet, Finance Lobby also gives you the ability to create up to four soft quote variations at once for each deal, so you can hedge your bets and give the borrower a selection of options to choose from. That way the borrower can weigh their options on their own time while you work on closing more deals.
5. Direct Communication with the Broker
Email is great for a lot of things, but efficiently negotiating and closing multiple deals isn’t one of them. Luckily, the days of having to juggle a complicated array of folders and in your inbox are gone thanks to Finance Lobby.
The built-in chat feature allows you to instantly communicate with the broker if you have any questions or comments, and all of the communication is stored with its related deal. This way you can keep everything in one, easily accessible location in case you need to reference it later. No more digging through your emails to figure out what was agreed to a month ago.
Better yet, once the broker accepts your offer and is ready to move forward, you’ll be notified and given the broker’s contact information so you can work together to get the deal to the finish line.
Conclusion
As you can see, Finance Lobby is revolutionizing the commercial real estate lending industry by making it easier than ever for you to find and close deals. In today’s market, it’s important to move quickly and efficiently, and Finance Lobby’s features have been developed to help you do just that.
If you’d like to learn more about Finance Lobby you can keep reading our blog, and if you are interested in giving it a try you can join for free today!