Top Ten Tips to Best Practice: Tip 8

Top Ten Tips to Best Practice: Tip 8



Every week, Adam Tyler, Chief Executive of the 

National Association of Commercial Finance Brokers

 (NACFB) gives us a handy hint for brokers’ best practice…


Tip 8: Getting it through

This particular week is not rocket science; we all know what we have to do here. But it is important because if the broker steps back here, then my final tip next week on getting paid will become an issue.

The main comment here is all about communication and being of added value in the process. This comes in varying degrees and is heavily dependent on the type of finance involved – there is not a one size fits all scenario. For example, an asset finance broker will know the client, know the funder, know the market, but will not need to meet the customer. The deal will go through quickly, if it is straightforward and will be completed in a fraction of the time of a property transaction.

So, how far will the broker need to be involved? Not much after the placing and introduction. Unlike a property transaction, where a number of other parties are involved combined with a convoluted legal process. It is here that hands on intervention certainly can mean the difference between success and failure.

To view all the tips so far 

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