Commercial real estate financing needs an upgrade.
With interest rates rising and borrowing money becoming more expensive, any hiccup or inefficiency in the financing process is magnified. Unfortunately, the CRE space has long been a place where varying degrees of misalignments between lender and broker were the expectation. Getting a perfect-fit deal was considered luck.
While digitization has swept across other sectors like wildfire and online marketplaces have become the norm in many industries, commercial real estate financing has been slower to take the leap into tech solutions. That reluctance to change leaves inefficiencies unresolved and expectations unmet and ultimately comes at a cost to both lenders and brokers.
Enter Finance Lobby, a smart, online marketplace powered by proprietary software that brings commercial mortgage brokers and lenders together to close perfect-fit deals based on specific lending criteria and the preferences of the broker’s client.
How it all started
Simply put, without access to all the best deals in your market, life in CRE financing could best be described as a perpetual struggle to fit a square peg in a round hole. Deals would get done but the mismatches stung because they felt unnecessary.
Founded by CRE professionals, Finance Lobby’s solutions come from decades of combined experience in the industry. From chasing lenders to working on the wrong deals to simply not having the ability to connect with a best-fit lender at all, the issues were many.
Solving the problem of access was the key to simplifying CRE and tapping into a new level of productivity for lenders and brokers. Less time wasted; more deals closed.
Making its presence felt in the market
For any organization to be successful though, it takes more than a great product or service to succeed; it takes long term vision driven by genuine passion.
In other words, a real solution to a real problem.
Only when proof-of-concept becomes proof-of-increased- bottom-line for customers will the tides turn…and turn they have with 5,000+ lenders already closing better deals faster with Finance Lobby. Those exceptional customer experiences are the cornerstone of continued success, growth and the long-term relationships with the clients they’re striving to build.
By being laser-focused on optimizing every transaction making perfect-fit deals the norm you can sense the rumblings of a paradigm shift throughout the CRE financing industry.
The secret to success
The simplest solution is often the most elegant and in the case of commercial real estate financing, an online marketplace is proving to be the best way to bring order and efficiency to the sector.
Cracking the code to consistently closing the best deal possible for any given property is only a piece of the puzzle though, albeit a major one. How many great ideas have initially failed due to poor implementation? For every Google there were dozens of search engines that didn’t make it.
The secret then is in the people behind the algorithm. A purpose-driven team that’s focused on innovation, improving processes, and building the technology that will revolutionize the industry. A leader in the space.
Company culture as an innovation driver
Innovation doesn’t happen in a vacuum – it requires building a company culture conducive to creativity and innovative ideas. Finance Lobby believes curiosity, experimentation, and trust are all essential components of a culture that drives innovation. Hiring great people and empowering them. When the team feels free to explore new ideas, and take risks, they’re more likely to come up with game-changing solutions.
Measurement is also critical when it comes to driving innovation. By tracking progress, they know when a new approach is working, and when it’s time to move on to something else. It also creates opportunities to celebrate our successes along the way – important for mindset and motivation.
A culture of innovation isn’t just about generating new ideas, it’s about taking action and charting a new course to turn those ideas into reality. The team, all fully remote, is encouraged to question, make suggestions, or iterate on anyone’s ideas. Experimentation leads to innovation.
To do that means doubling down on bringing the right people onboard and creating an environment where everyone feels comfortable contributing, and where open communication and pushing the boundaries of collaboration tools are encouraged.
As Kelly Wagman, CMO at Finance Lobby says, “It’s only by embracing diverse perspectives and ideas that we can continue to innovate and grow. Creating a company culture that values curiosity, risk-taking and collaboration is essential to driving innovation.”
Put that all together and Finance Lobby is the right company, at the right place, at the right time – an essential partner in CRE financing.
It’s only by embracing diverse perspectives and ideas that we can continue to innovate and grow. Creating a company culture that values curiosity, risk-taking and collaboration is essential to driving innovation.