As a commercial real estate broker,
you’ve worked hard on behalf of your clients to represent them in a all aspects of a transaction. Whether you’ve helped identify a buyer of your client’s property or provided expert negotiation tactics, your tireless efforts has been rewarded. SAR Commercial has created a system to help you (CRE Broker), your client/borrower and the commercial lender profit even more in a real estate transaction by eliminating needless costs.
Our patent pending program is intended to do the following: Financially reward the client/borrower, commercial real estate broker and the lender.
You, the CRE Broker, may already know some of the commercial banks and financial institutions that we have partnered with and may have even done a deal with them before. SAR Commercial has standardized the process for the CRE Broker to get paid 50 bps for their CRE mortgage referrals while helping our commercial lender partners acquire commercial loans at a lower cost. SAR Commercial's program has been designed to enhance current relationships create new relationships between CRE Brokers and CRE Lenders.
Joe, the commercial real estate broker, has a client who is purchasing a $3,000,000 office building. Joe’s client is seeking a commercial loan for the purchase in the amount of $2,000,000.
Joe will enter his client’s preliminary referral information into the SAR page created for him when he joins the SAR program. Joe will indicate that his client is seeking a loan amount of $2,000,000. (note: this amount can be changed at a later date if the client eventually receives a loan for more or less than $2,000,000).
If and when Joe’s client closes on the loan (ie, the loan funds), Joe will submit the final referral information on Joe’s SAR page. The loan amount remains, in this example, $2,000,000.
The information Joe entered is sent immediately to SAR, and copied to the lender and Joe.
At the end of the calendar month, Joe’s broker is sent a check by SAR for 50 Basis Points of the final loan amount of $10,000 ($2,000,000 x 50 bps = $10,000).
HOW TO SUBMIT A COMMERCIAL MORTGAGE REFERRAL AND GET PAID
2 Part process for submitting a referral:
Your designated webpage (ex: SmartAgentRewards.com/CommercialAgent/JoeBroker) will contain 2 forms: a Preliminary Referral Form and a Final Referral Form.
You can choose to which lender(s) you'd like to submit the preliminary referral.
If and when the bank funds the loan, the broker may submit the FINAL REFERRAL Form to the lender issuing the loan for your client. (Please note that due to our terms of service, the broker has 30 days from the date of closing to submit the final referral form to the lender.)
To qualify for a Referral Payment, the following conditions must be satisfied: (i) A requested loan amount of at least two hundred thousand dollars ($200,000.00); (ii) The Referral is sent to or made available by or on behalf of Purchaser; (iii) Referral information can only be submitted one time and from one agent or source; (iv) The loan sought cannot be any federally backed loan or on any residentially classed property per HUD definitions except for SBA 7a Loans; (v) Both Purchase and Refinance commercial loans are valid loans (vi) Loan must have funded for borrower disclosed in the referral (vii) Referral must be submitted within 30 days of closing (viii) The loan applied for (or funding sought) by the client (or substantially related entity) cannot be in process at the time the preliminary referral is submitted. The date to determine whether a loan has been applied for will be governed by the date the loan application is submitted to the lender.
Recent Transactions and Referral Fees Paid to CRE Brokers
Office Building, Denver, Colorado.
Purchase price $1,875,000
Loan Amount: $1,129,547
Referral Fee paid to CRE Broker: $5,647.73
Motel Refinance, Denver, Colorado
Refinance Amount: $1,005,000
Referral Fee paid to CRE Broker: $5,025
Multifamily Refinance, San Diego, California
Refinance Amount: $4,655,480
Referral Fee paid to CRE Broker: $23,277.40
Retail Purchase, Santa Barbara, California
Purchase price $3,450,600
Loan Amount: $2,203,044
Referral Fee paid to CRE Broker: $11,015.22
Office Refinance, Broomfield, Colorado
Refinance Amount: $248,185
referral fee paid to CRE Broker: $1,240.92