How to Choose a Commercial Mortgage Broker in Florida

Choosing the right commercial mortgage broker can mean the difference between closing your deal at favorable terms or being stuck in extended negotiations with a lender that doesn't fit your needs.

The broker-borrower relationship matters. Unlike consumer mortgages, commercial real estate deals are complex, multi-layered, and heavily dependent on the expertise and relationships your advisor brings to the table. A good commercial mortgage broker doesn't just source capital — they structure deals, navigate lender requirements, advocate for better terms, and solve problems when they arise.

But finding the right one requires knowing what to look for. This guide walks you through the key factors that separate exceptional brokers from those who are just going through the motions.

What Does a Commercial Mortgage Broker Actually Do?

Before evaluating brokers, it helps to understand what they actually do — and what they don't.

A commercial mortgage broker is a licensed intermediary who connects borrowers with lenders. Rather than working for a single lender (like a bank), brokers work across multiple lending sources — banks, life insurance companies, CMBS conduits, debt funds, and private lenders. Their job is to package your deal, shop it to appropriate capital sources, negotiate terms, and guide you through closing.

Key services brokers provide:

• Market analysis and rate guidance based on current lending environment
• Lender selection and deal structuring to maximize your advantage
• Application preparation and due diligence coordination
• Negotiation of rates, terms, and loan covenants
• Problem-solving when issues arise during underwriting or closing
• Ongoing relationship management with lender contacts

What brokers don't do: they don't approve loans (lenders do), they don't make unilateral decisions about your deal structure, and they don't have personal capital to lend (with rare exceptions for very small bridge loans).

Independent vs. Captive Brokers: Why It Matters

This is perhaps the most important distinction to understand before you hire anyone.

A captive broker is affiliated with or owned by a capital source. They have financial incentives to steer you toward their parent company's products, whether or not those products are the best fit for your deal. Some captive brokers are transparent about this. Others aren't. Either way, their allegiance is divided.

An independent broker has no financial ties to any lender or investor. They make their money through fees or success-based compensation, aligned with closing your deal on the best available terms — not with pushing a specific product.

Independence matters because:

• Your advisor shops your deal across the broadest possible range of lenders
• They're not pressured to accept mediocre terms from a parent company lender
• They can pivot strategies if one source doesn't work — without political implications internally
• Better rates and terms typically flow from genuine competition between lender options

Why Your Broker's Lender Relationships Are Everything

In commercial real estate lending, relationships aren't a nice-to-have — they're the single most important asset your broker brings to the table. The difference between a broker with deep lender relationships and one without can be the difference between closing your deal and watching it die on the vine.

Here's why: commercial lending decisions aren't made by algorithms. They're made by people — credit committee members, loan officers, and portfolio managers who exercise judgment on every deal. A broker with genuine, longstanding relationships with these decision-makers has advantages that simply can't be replicated:

• Access to decision-makers. When your broker calls a lender they've done dozens of deals with, the call gets answered. The loan package goes to the top of the pile. Compare that to a cold submission through a generic portal — it might sit in a queue for weeks.
• Credibility that transfers to you. A lender who trusts your broker extends that trust to your deal. They know the broker has already vetted the sponsorship, the property, and the financials before presenting it. This credibility accelerates underwriting and improves terms.
• The ability to push boundaries. Every lender has official guidelines — and then there's what they'll actually do for a broker they trust. Need a slightly higher leverage point? A rate exception? A faster close? A broker with real relationships can have those conversations. A stranger can't.
• Market intelligence. Brokers with deep lender networks know which lenders are actively pursuing certain deal types, which ones have tightened criteria, and where the best pricing is today — not last month. This real-time intelligence is invaluable for deal structuring.
• Problem-solving when deals get complicated. Every deal hits a snag at some point. When your broker has a trusted relationship with the lender, they can work through issues collaboratively rather than adversarially. That relationship capital often saves deals that would otherwise fall apart.

Five Key Questions to Ask Your Potential Broker

When evaluating commercial mortgage brokers, these five questions will tell you what you need to know:

1. Do you have direct relationships with the lenders you propose?

A broker who merely sends your loan package to a wholesale channel or lending platform doesn't offer much value above what you could do yourself online. The best brokers have built relationships with decision-makers at major lenders — people who will take their calls, move applications to the front of the pile, and bend rules for the right deal.

Ask for examples: "Have you closed deals at [specific lender] in the past six months? Can I speak with one of your recent clients who used that source?"

2. How much experience do you have with my property type?

Multifamily loans are different from office. Office deals are different from retail. Industrial is different from hospitality. A broker with decades of experience in multifamily may be a novice when it comes to structuring a CMBS deal for a shopping center or arranging construction financing for a ground-up development.

Deep knowledge of your asset class means your broker understands typical loan structures, common lender requirements, typical leverage, acceptable sponsors, and where to find capital for deals like yours. This expertise saves time and prevents bad structuring decisions.

Red flag: "We work with all property types." That's rarely true, and it usually means they're generalists without deep expertise in any single area.

3. Walk me through your typical process and communication timeline.

You want to understand how your broker handles submissions, due diligence, underwriting, and closing. What's their process for keeping you informed? How often will you hear from them? When issues arise (and they will), how does your broker handle them?

A professional broker should have a clear, documented process. They should promise regular updates — weekly, at minimum. They should explain who you'll interact with (the broker primarily, or will you have direct contact with lenders?). And they should be clear about what they need from you and when.

Vague answers suggest they don't have a systematic approach.

4. Can you show me recent comparable deals you've closed in this market?

This does two things: it verifies their track record with similar deals, and it gives you current market data. A broker who can say "we closed five multifamily deals in South Florida in the past six months, ranging from $12M to $45M, at rates between 5.1% and 5.6%, 30-year fixed" is giving you real market intelligence.

Someone who can't produce examples or says "each deal is unique" (true, but unhelpful) is signaling they either haven't done much business or they're being evasive.

5. How do you charge, and who pays your fee?

Understand the fee structure upfront. Brokers typically earn 0.5% to 1.5% of the loan amount from the lender (this is paid by the lender, not you, in most cases). Some brokers also charge borrower fees for specific services.

Be cautious of:

• Brokers who demand upfront fees before any work is done ("application fee," "processing fee," etc.) — legitimate brokers are confident enough to work on contingency until closing
• Unclear fee arrangements or fees hidden in paperwork
• Brokers who don't disclose conflicts of interest or how they're being compensated by lenders

The fee structure should be transparent and documented in a broker agreement.

Red Flags: When Not to Hire a Broker

These warning signs suggest you should keep looking:

• They ask for money upfront before engagement. Legitimate brokers don't charge application or processing fees. They make money when you close. If they're asking for money now, they're not confident in their ability to deliver value.
• They have limited lender options. If they keep steering you toward one or two sources, they're either captive brokers in disguise or they don't have broad relationships. A real broker presents multiple options.
• They have no track record in your property type. Someone with 20 years in multifamily shouldn't be your first choice for a CMBS retail deal. You want someone with relevant expertise.
• They're vague about the process. "We'll shop it around" isn't a process. You need someone who can walk you through exactly how they'll market your deal, which lenders they'll approach, and their timeline.
• They promise you a rate that seems too good to be true. If they're guaranteeing you'll get 4.5% when the market is at 5.5%, they either don't understand the market or they're setting unrealistic expectations. The market is the market.
• Poor communication or slow responsiveness. If they're hard to reach during the evaluation phase, imagine how unresponsive they'll be once you're in the middle of underwriting.

The Banyan Approach to Brokerage

At Banyan Commercial Capital, we approach commercial mortgage advisory differently:

100% Independence. We have no ties to any capital source. We source from banks, life insurance companies, CMBS conduits, debt funds, and private lenders — whoever makes sense for your deal. No quotas. No internal politics. Just the best financing available in the market.

80 Years of Combined Experience. The Banyan team brings a combined 80 years of experience in the commercial real estate finance market. That depth of knowledge spans every major asset class — multifamily, retail, office, industrial, hospitality, development, mezzanine, preferred equity, and JV advisory. We've seen every market cycle, every lending trend, and every type of deal structure. There is no substitute for this kind of hard-won expertise.

Relationship-Driven. Over those 80 combined years, we've built deep, personal relationships with decision-makers at banks, life companies, CMBS shops, debt funds, and private lenders across the country. These aren't casual contacts — they're relationships forged through hundreds of closed deals. That matters when you need a lender to move quickly, bend a policy, or reconsider terms. Our calls get answered, and our deals get priority attention.

Structured Communication. You'll hear from us regularly. We manage the entire underwriting process, coordinate with your team and the lender, and solve problems as they arise. No surprises.

Focus on Small-to-Mid Market. We specialize in $10M to $50M+ deals where personal attention and strong relationships make the biggest difference. This is our wheelhouse.

Final Thoughts: Choose Carefully

Your commercial mortgage broker is one of the most important advisors on your deal team. They influence which lenders you approach, what terms you negotiate, and whether you close on schedule.

Take time to evaluate your options. Ask hard questions. Check references. Make sure their expertise and approach align with your deal and your expectations. A good broker is an investment that pays dividends.