This may shock you, but most commercial loan officers will NOT read the commercial loan packages that you send to them. This is especially true for bankers working on salary.
Your commercial loan package will sit on their desks (or will rot in their email boxes) for weeks – until you call to “confirm receipt of the package.”
Why? Most commercial loan officers will assume that you, the commercial mortgage broker, have shot-gunned the package out to dozens and dozens of different banks. They are not going to waste their time slogging through some great, big, thick commercial loan package until you signal that you really want to hear from them.
Question: So how do you send “the signal” to the loan officer that you actually need him to read the package? Answer: By calling to “confirm receipt of the package.”
The call should go as follows:
“Hey Jim, this is George Blackburne from C-Loans. I realize that you could not possibly have reviewed the package by now, but I sent you an email a few hours ago containing a very short PDF of a commercial loan package. I think it’s a great one! All I’m doing right now is calling to confirm that you received my package.”
“You don’t remember receiving it? Your email address is email@example.com, right? The subject line reads, “Jim, Here’s a Sweet Commercial Deal in Your Backyard” You still don’t see it? Huh. Would you mind checking your junk mail filter? Sure, I’ll be happy to hold. You found it? Hallelujah, Jim! Okay, I’ll leave you to do your thing. I think you’ll love this deal.”Remember, it is the custom and practice in commercial real estate finance for commercial loan officers to completely ignore your loan package – until you call to "confirm receipt of the package."
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