Finance Lobby, the company that is making the commercial real estate industry more efficient for lenders and brokers, has announced that it now has more than 4K lenders on its online platform. With the increase, Finance Lobby continues to surpass its closest competitor and make the CRE marketplace more efficient for everyone involved in the buying and selling of commercial real estate.
The announcement comes as more professionals in the CRE marketplace transition to using online technology to conduct business. At the center of the excitement around Finance Lobby’s platform is its streamlining of an industry whose members have long relied on their telephones to do their jobs.
“We did extensive market research to determine how best to serve CRE brokers and lenders,” says Finance Lobby. “What we saw was that while CRE professionals were highly trained and motivated, the tools they were using to do their jobs were outdated. It had become accepted that a broker or lender would spend a large percentage of their work days on the phone, chasing soft quotes and searching for the best deals and terms that might or might not be found. We believed the time of lenders and brokers could be better spent, so we decided to create an online CRE platform that would eliminate the need for so many phone calls and help professionals see relevant deals more easily and quickly.”
The platform, the company continues, benefits brokers and lenders alike through key abilities not found elsewhere in the CRE marketplace. “Lenders were frustrated by the reality that while they knew the terms they were looking for, they had no way to search for them without having to wade through irrelevant deals,” Finance Lobby says. “To solve this, we give them the ability to set their preferences for terms before they begin searching for deals. This saves time because deals that don’t meet that criteria are automatically omitted from consideration.”
The results for commercial real estate lenders include more soft quotes that are more accurate and obtained faster. “Our platform also helps lenders to communicate directly with brokers,” Finance Lobby says. “These advantages have been behind the rapid growth we are seeing in the number of lenders on our platform.”
Brokers have benefited as well. “They were experiencing multiple issues, including loan terms that ultimately did not satisfy their clients,” Finance Lobby explains. “The solution was to increase the number of eyes, so to speak, that would see every loan request, so we gave brokers the ability to have thousands of people see each one. We also gave brokers preferred access to their favorite lenders as well as comparisons of multiple offers before selecting the one that is right for their clients. Doing this has increased the potential for brokers to get satisfactory outcomes for their clients.”
As more CRE professionals turn to Finance Lobby’s lending platform, the industry will likely continue to undergo significant changes. “The best innovations, we believe, come when we refuse to accept the status quo,” Finance Lobby says. “For too long, we accepted that numerous phone calls were simply part of the duties of a CRE broker or lender. Because we decided to believe differently, our platform is enjoying amazing growth. New users are added each day, and the CRE industry is on a path to increased efficiency and more innovation.”