This was a cash out refinance for a new client that was referred to us from a real estate Broker. The investor had not financed a commercial property in over 10 years and as such he was out of touch with the commercial lending market which required a ton of our guidance and earning his trust.
The challenges initially on this transaction was educating the borrower on the available loan programs and how they differed and then dialing in on the programs that met his goals. Additionally, in the beginning before we won this deal we were competing with other brokers.
Winning an assignment is a reward in itself. The client told us, I am going with ALB because I feel more comfortable with you, and trust that you are looking out for me". Well we got to know each other during the assignment and I'd like to think we bonded. Each assignment for us is an earned opportunity that we don't take for granted. The job was completed and the client was happy.