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  1. #1
    Banned Reputation points: 4530
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    It's hypocritical for ISO's and Brokers not to deal with other ISO's and Brokers

    We all know the benefit of being an intermediary between companies and financing but why do so many of us think so lowly about other brokers (iso's) that we only want to deal directly with lenders. If you can provide the typical broker services to a client what makes you think other brokers cant to you.
    Every time you are on the Daily Funder asking for a lender you are slapping your fellow brokers in the face. These are folks who may solve your problem, answer your question or get your deal done. It might even surprise you that on some deals you would make even more than going direct.
    Bob Shaw
    734-929-3800

  2. #2
    Senior Member Reputation points: 50583
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    I can totally understand that sometimes sub-brokering may alter commissions- especially if the broker has a sales floor to pay-per-deal. In that case, they should have secured relationships before sub-brokering.

    Sometimes it makes sense though. Some brokers have access to programs, syndicate with certain lenders and partner with funding companies that others can't.

    Trust is a big issue as well. You can have the same issues with a broker than you can with a lender... I think it all has to do with the money.

  3. #3
    I have resources for many restrictive companies that are hard to fund. Mary@3375018833

  4. #4
    Quote Originally Posted by bdshaw View Post
    We all know the benefit of being an intermediary between companies and financing but why do so many of us think so lowly about other brokers (iso's) that we only want to deal directly with lenders. If you can provide the typical broker services to a client what makes you think other brokers cant to you.
    Every time you are on the Daily Funder asking for a lender you are slapping your fellow brokers in the face. These are folks who may solve your problem, answer your question or get your deal done. It might even surprise you that on some deals you would make even more than going direct.
    Bob Shaw
    734-929-3800
    To some degree that already happens. I think as a general statement not all brokers are good to be honest. I think we actually know most aren't. So that taints the pool a bit, the ones who are good are known and I believe do work with each other.

  5. #5
    There's plenty of business to be had in this industry. If I can help someone out by knowing a lender who will do something, than I'll pass the contact on. I don't need to make money on your deal.

  6. #6
    Banned Reputation points: 4530
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    Quote Originally Posted by Miller 192 View Post
    There's plenty of business to be had in this industry. If I can help someone out by knowing a lender who will do something, than I'll pass the contact on. I don't need to make money on your deal.
    I feel the same way but we are in the minority sad to say.

  7. #7
    Quote Originally Posted by Miller192 View Post
    There's plenty of business to be had in this industry. If I can help someone out by knowing a lender who will do something, than I'll pass the contact on. I don't need to make money on your deal.
    Absolutely agree. Best post I've read.

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