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Co-Broker Program Frequently Asked Questions

 

Q. Do I have to be licensed in order to be compensated for my referrals?
A. No. If you were referring residential loans to us you would need to be licensed as a mortgage broker/lender along with a litany of other requirements in order to be compensated for your referrals. However, commercial lending regulations permit referral fees and other outside compensations.

Q. What constitutes a commercial property?
A. A commercial property has to do with two issues. 1) It will be zoned commercial and used for commercial purposes, and 2) It will typically not be a single-family residence, duplex, tri-plex, or four-plex. Anything more than 4 units will typically be classified as a commercial property.

Q. How long does it take for a commercial loan to fund?
A. Commercial loans can be very complex. The appraisal process alone takes 3-5 times longer than a residential appraisal, and there are many, many issues that can come up through the loan process that can bring on delays and cause a loan to take several months to close and fund. However, the majority of our Premier Loans close within 30 to 45 days.

Q. Will I be an actual employee of Brian Brinkley Commercial Capital?
A. No. You will be an independent consultant and will be sent a 1099 at the end of each year. It is important that Co-Brokers not portray themselves as employees of Brian Brinkley Commercial Capital for liability purposes.

Q. Are there any fees or expenses involved in order to be a Co-Broker with Brian Brinkley Commercial Capital?
A. There is no sign-up fee, no admin fee, etc. In other words, no, other than expenses that you may incur contacting people or otherwise getting your leads. (see the next FAQ for more information)

Q. Do I have to sign up as a Co-Broker to refer loans to you?
A. No, you do not. However, you will not be eligible for our standard Co-Broker Program compensation. We do have several friends and associates who periodically refer business to us, and, depending on the deal, we usually reward them in some manner or another for their referrals. Sometimes its a small cash reward and sometimes its a reward of a gift certificate. If you believe that you will only periodically be referring someone to us then it may not be worth it to you to actually sign-up with us. Our Co-Broker program is designed for those who are serious about earning a supplemental income on a regular basis that will most likely result in 4 commercial loan funding a year or more.

Q. Are there any demographic restrictions for your loan programs?
A. Yes, currently we are not able to do any commercial loans in AZ, CA, ND, SD, and WI. We do have some minor restrictions in FL, RI, and MD that we can usually accommodate.

Q. What are Basis Points?
A. Basis points are the denominations that the finance industry typically uses for commission calculations and market sales. 37.5 basis points is essentially three-eighths (3/8) of one percent. So if your loan is $1 million dollars then you earn $3750 in commission; all for doing nothing but referring a potential borrower to us and filling out a simple, one-page questionnaire.

Q. How much will I need to work in order to be successful with your program?
A. Everybody's efforts bring about different results. It just depends on who you know, how well you speak with business owners, and how you use those aspects to your benefit. There is no specific amount of work-hours required from you as you are an independent contractor with us. You don't have to quit your current job to take advantage of this unique opportunity. We have several individuals who started off casually mentioning Brian Brinkley Commercial Capital to their friends and associates. And, now we have several associates who do this full-time!

Q. How does your Co-Broker program work?
A. Our program is simple. All you have to do is contact people you may already know or potential borrowers who you've identified as needing our services, assist them in filling out a simple, one-page questionnaire, reference your unique ID number on the questionnaire and then our competent and experienced Commercial Loan Advisors take care of everything from there. We will keep you abreast of the progress of the loan periodically via e-mail, and more importantly, once the loan funds, we will immediately issue you a commission check! Its that simple.

Q. How are Co-Brokers paid?
A. You are paid based upon the total net loan amount that funds. You are paid 37.5 basis points (bps) of that loan amount on any standard commercial loan. So, if you refer a standard loan to us that funds and is $1 million dollars, then you earn $3750 in commission, all for doing nothing but referring a potential borrower to us and filling out a simple, one-page questionnaire. There's no limit to the amount of money you can earn in any given time period. And there's no limit to the kind of commercial loans you can refer to us.

Q. Is there a minimum volume requirement?
A. No.

Q. Are there any expenses I will incur in order to Co-Broker loans?
A. There aren't any required fees or expenses that Brian Brinkley Commercial Capital assesses. However, the majority of our associates have access to a computer, e-mail, fax-machine, reliable telephone line, and usually a cell-phone. These expenses are your responsibility. We make all of the lengthy phone calls to the clients, overnight documents, and travel to view properties, etc in order to close the loans you refer to us. We are responsible for these expenses incurred.

Q. Is this multi-level marketing (MLM)?
A. Absolutely not. Multi-level marketing compensates an individual not only for the products they sell but for the products sold by the people they recruit into a particular business and this continues several generations deep usually. You will not be compensated in any way for recruiting other Co-Brokers. You are only compensated directly for your referrals. In fact, we will not accept loans that have more than one referring-party involved, otherwise known as a daisy chain. We believe this only causes more expenses and headaches to a potential borrower to deal with so many people.

Q. Can I get paid a referral fee on my own loan that I'm doing with Brian Brinkley Commercial Capital?
A. No, Sorry. But when you have a great experience with Brian Brinkley Commercial Capital and decide you may want to refer new prospective borrowers to us, well be happy to compensate you as outlined in our program.