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A day in the life of a commercial broker

Commercial lending brokers play an integral role in the Australian business world, but most of what they do goes on behind the scenes. Especially if you need funding and want to partner with a commercial broker, transparency is essential. So it’s time to pull back the curtain and take a closer look at what a typical day in the life of a commercial broker involves.

Speaking with clients

Building relationships with clients is a crucial part of a commercial broker's day. At Nero Financial, our brokers will predominantly work with clients over the phone (or video if you prefer); allowing us to meet with you no matter where you’re located, and at a time that suits you. During these catch-ups, brokers will discuss the client's financial needs, provide advice on loan options and help negotiate (or renegotiate) terms.

Managing loan applications

Once a client has decided to apply for a loan, a commercial broker will manage the entire loan application process from start to finish. This involves collecting all the necessary documentation from the client, preparing the loan application itself, as well as submitting it to lenders for review. Brokers will also negotiate the loan’s terms and conditions on behalf of their clients.

Networking and business development

An essential but little-known aspect of a commercial broker's job is to network and build their business. While it’s an important part of their day to build relationships with clients, they also need to stay in close contact with different lenders and various industry professionals. A typical day might involve attending a networking event, making phone calls to lenders, sending emails to new clients and following up with existing clients.

Market research

The best commercial lending brokers are those who have a comprehensive understanding of the market and what is influencing it. So by conducting regular market research – such as analysing market trends, monitoring interest rates and speaking to potential lenders – brokers can stay up-to-date with the latest market developments and subsequently provide the best advice to their clients.

Taking care of administrative tasks

On top of these tasks, commercial brokers may also need to manage various administrative duties – from updating client records to preparing reports to managing their monthly schedule. Brokers need to be highly organised and efficient individuals in order to manage all of the various tasks required of them.

Following up with clients

“Client follow-up is an essential part of our daily work,” says David Crook, Managing Director at Nero Financial. “We check in with clients regularly throughout the loan process, providing updates on the status of their application and answering any questions they may have about their lender or loan type. We also follow up with clients after the loan has been approved to ensure they are satisfied with the terms, as well as to provide ongoing financial advice.”

If you are ready to get the funding your business needs, an expert commercial broker from Nero Financial can guide you along your journey. Contact us online today or call 1300 025 949 to find out more.