| If you are a commercial loan originator you know | | | | Or if you're working on a deal and not expecting |
| how vital it is to protect your fee and your | | | | to get any YSP from the bank and you're |
| livelihood. Commercial broker fee agreements | | | | depending on the borrower to finally sign that |
| are vital to your ongoing success.  Nothing | | | | fee agreement, after they know who the bank is |
| hurts quite like going through the entire process | | | | and what they are offering, is also a seriously |
| of underwriting a commercial mortgage all to not | | | | weak position to be. You're basically asking |
| get paid the fee you deserve.   | | | | them to screw you. In all seriousness you're |
| We have learned this lesson the hard way. | | | | putting them in a position of real trust and if your |
| And have had loans where we didn't get paid a | | | | relationship isn't rock solid they will be asking |
| dime, only a portion or had to get a lawyer | | | | themselves "why do I need broker Joe? I've |
| involved and go through a long and painful process | | | | heard of xyz bank. I just didn't bother to call |
| to get paid. | | | | them. I'm paying him how much?" |
| Have you heard a lender or bank say something | | | | Your commercial broker fee agreement is |
| like "well we don't really have a formal fee | | | | basically your shield and armor (if that isn't too |
| agreements with brokers, but we'll pay you a | | | | corny). It will protect your time and assure |
| point outside of escrow"?  If the hairs on | | | | that you will make it in this business. By |
| the back of your neck don't stand up, than you | | | | presenting your agreement it will also set you |
| haven't been screwed yet and are probably are | | | | apart as a professional and clients will recognize |
| just getting started as a commercial loan | | | | that you know what you are doing. You will |
| broker. | | | | earn their respect. |