Posted by Michael Morrongiello on May 02, 2000 at 13:00:29:
Angela:
This is nothing more than “industry jargon” to described those brokers/ funders that have establised themselves as being able to excel in the areas of note negotiations, evaluation, structuring, pricing, packaging, processing, closing, & funding skills.
On top of exhibiting those skills, “master brokers” deliver consistent volume production to funding sources they have developed and have usually developed their own network of unique funders as well as themselves funding as principals.
Bottom line; to become known as a “master broker” one must continually study, practice, do deals (LOTS of deals), continue learning the trade and the ropes like a skilled master carpenter apprentice does to develop their “craft”.
Working with a “master broker” can save new and experienced note brokers a lot of frustration and headache, they not only provide excellent competitive pricing on note deals, they know how to “navigate the waters” in dealing with title problems, appraisal problems, documentation issues, negotiations, etc. that invariably pop up when working a file.
To your success,
Michael Morrongiello