Mar 1, 2019
Independence is leaving the commercial
real estate business. Listing agents are being hired by commercial
apartment lenders. Yes…they now work for the lender!
Gone are the independent real estate agents that represented the
seller only. Today, listing agents have two bosses, 1) the
apartment seller/owner and 2) the apartment mortgage company they
are employed with. How do you serve two masters? The listing agent
is almost forcing the buyer to use their commercial mortgage
company; IF they want to be considered in “best and final.”
What this means to you… is that the buyer is NOW handcuffed to the
listing agents’ lender…and will not get the best financing
available. Your listing agent is now a mortgage originator and
getting paid to push mortgages to the buyer, too! How is that
possible? The listing agents mortgage company will not shop other
agency lenders. The listing agent’s lender… will not get you the
best interest rate, best leverage, and best terms available. In
today’s podcast, Paul and James bring you up to speed on how and
why this is happening and how it will impact you in the future.
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FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about
upcoming educational events at Old Capital Speaker Series please
visit us at OldCapitalPodcast.com
Are you interested in learning more about how Multifamily
Syndications work? Please visit www.spiadvisory.com to learn more
about Michael Becker’s Real Estate Syndication business with SPI
Advisory LLC.