Episode 171 - Coaching and Counseling: What?? I didnt realize that!! Thats not right!
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Independence is leaving the commercial real estate business. Listing agents are being hired by commercial apartment lenders. Yes\\u2026they 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 \\u201cbest and final.\\u201d
What this means to you\\u2026 is that the buyer is NOW handcuffed to the listing agents\\u2019 lender\\u2026and 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\\u2019s lender\\u2026 will not get you the best interest rate, best leverage, and best terms available. In today\\u2019s 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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Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker\\u2019s Real Estate Syndication business with SPI Advisory LLC.