When considering their financing options our client tends to try their bank first only to end up frustrated and no further along. It’s not their fault. Given the way banks are structured and the requirement for a central credit or underwriting department to approve a loan request an individual at the bank can only do so much. Recently we had a client come to our offices and for less than 3 hours of our time he was given the solutions, the criteria and the timelines for what financing was available for his purchase. He was a business owner looking to purchase a property and needed to know how much financing would be available for him. He also needed to know what the interest rates could be and whether or not his business could afford it. He has worked very hard to build his business and wanted the attention of someone who could help him with his decisions. In his words “it is like they just don’t want to take the time to help” he explained why he was paying us to help him.
Since adding a fee based service to our brokerage offering we are finding serious clients are prepared to pay for serious advice. When it comes time to getting a specific financing request funded our performance based service adds value by making sure our clients get the financing that best matches what they are looking for.