Brokers have a bad reputation. The first thing that comes to mind is fees and it usually turns off anyone from working with one and they search for ways to work directly to cut cost.
What if we told you that most of your results while trying to go "direct" is usually a Lender Match or an Independent Sales Organization? What if we also told you that most times your rate or fees aren't affected in either way because many Funders know that you don't know any better. Yup. We're not here to "out" anyone or ruffle feathers as everyone is out to be the person who gets the best deal for their Clients. Even if it means saying you are a "Direct" Lender or Funder in the appetizing way of getting you on the hook; There are still some things you should know or look for when working with a Broker to qualify, apply, and ultimately obtain financing of any kind.
Check their website. Most Companies rush and put a website together with limited pages and content. This does more harm than good as some are great salespeople but lack the foundation to support what they can really achieve. No website is perfect so make sure you check the major factors like address, phone number, and links for "as seen on" or "A+ Rating" and make sure they really do have the backing.
Check Google. That's usually what people do first but now it's time to pay attention to more than the website. It goes beyond Check the Secretary of State website. Linkedin and Social Media is important here too. Company pages on multiple sites are a good sign that the Company solidified their foundation online.
Names. If nothing checks out, we would run away as fast as we can. Especially if their name is Mike Wilson or Henry Smith. Someone who uses a fake name as a Broker and you can't find them online has something to hide. Nothing good ever comes out of masking your identity while trying to gain trust.
The Confident Broker has worked hard for many years to gain the knowledge and trust to bridge the gap of applying to financing. It's a lot of work for an Independent Broker to do and that is why we want to clear the air of working with a Broker.
All good Brokers stick to their own code but we have a few that we live by.
We will tell it like it is. We don't like to beat around the bush and our job is to represent you and your business for financing. Even if that means clearing the air for underwriting about some hiccups you may have had. We know there are things that are going to come up so we tell you like it is. Good Brokers don't waste your time!
We won't let you take a BAD DEAL. As a Broker, we live in a world where "somebody is going to do it." Sometimes we just don't want to be that somebody. When you are in need of financing you may be in a vulnerable and panicked state of mind. Bad Brokers will totally take advantage of this and know that some people will sign anything if they think it'll save them. If we know it won't save you, we'll tell you. If we don't feel comfortable, we won't lay up bad decisions for you.
We work magic; NOT miracles. Brokers are proud people who tend to go to the edge of the earth for their Clients. There are times where the request may need a miracle rather than the magic we provide. Working with every applicant this way helps us give you the right expectation and let's us do our brokering with clarity.