{"id":1004584897,"date":"2022-06-09T11:05:14","date_gmt":"2022-06-09T19:05:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004584897"},"modified":"2023-01-27T09:01:34","modified_gmt":"2023-01-27T17:01:34","slug":"flat-fee-broker-finds-cre","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/flat-fee-broker-finds-cre\/","title":{"rendered":"Flat Fee Broker Finds CRE"},"content":{"rendered":"
\"\"<\/a>

Lew Sichelman<\/p><\/div>\n

So-called disruptors have, well, disrupted the residential real estate market. The field is now riddled with discount brokers. Agents aren\u2019t even necessary for owners in 40-some major markets who want to avoid the hassle of open houses and back-and-forth dickering by selling their places to iBuyers, aka instant, institutional or internet buyers.<\/p>\n

Other companies will buy the house you want but can\u2019t afford and then lease it back to you until you have enough money to take over the deal. And still other outfits will front buyers their down payments and closing costs, taking a piece of the action in return.<\/p>\n

Launched just six months ago, Gparency has closed six loans, the largest of which was for $20 million, and worked on a number of others, including a $26 million multifamily loan in Chicago; a $40 million transaction on a industrial property in Lancaster, Pa.; a $21 million deal for a student housing project in Stillwater, Okla.; and a $3 million loan for a retail portfolio in Wheeling, W.Va.<\/p>\n

Though founder Ira Zlotowitz describes his totally remote, Zoom-based firm as \u201c100 percent broker,\u201d it is commission-free. Instead, it prices the lending process in phases, starting with an annual membership fee that allows general partners access to Gparency\u2019s database.<\/p>\n

\u201cIt all starts with a membership instead of a commission,\u201d he explained during the shareholder webinar. \u201cWe\u2019re a mortgage broker; we\u2019re just price differently.\u201d<\/p>\n

As a member, general partners also have access to one of the firm\u2019s brokers, which the company calls “concierges,” who will provide information on rates and terms and make introductions to lenders for any type of transaction.<\/p>\n

Beyond the annual subscription, for an extra fee, partners can connect with a broker who will negotiate, underwrite and shop a deal on your behalf, or have them complete the deal through closing.<\/p>\n

\u201cIf someone is comfortable doing the deal himself, that\u2019s what we are shooting for,\u201d Zlotowitz said.<\/p>\n

As he sees it, the flat-fee program make sense, if only because more general partners are already opting to go direct to lenders to avoid the commission traditional brokers charge. Gparency\u2019s research shows that only 20 percent of all commercial borrowers still use brokers exclusively. And even less experienced borrowers are choosing to use just some of the broker\u2019s services to save money, he added.<\/p>\n

Zlotowitz doesn\u2019t believe he has any competition to his flat-fee model, at least not yet. But, eventually, he thinks everybody will join in. \u201cWe\u2019re leading a revolution,\u201d he said.\u00a0 \u201cOver time, this is the way people will find commercial real estate.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Columnist Lew Sichelman showcases one company’s plan to simplify the broker process. <\/p>\n","protected":false},"author":1154,"featured_media":1004642061,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21684],"tags":[],"class_list":["post-1004584897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-viewpoint"],"acf":[],"yoast_head":"\nFlat Fee Broker Finds CRE - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/flat-fee-broker-finds-cre\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flat Fee Broker Finds CRE\" \/>\n<meta property=\"og:description\" content=\"Columnist Lew Sichelman showcases one company's plan to simplify the broker process.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/flat-fee-broker-finds-cre\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-09T19:05:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-27T17:01:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/Lew_Sichelman.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lew Sichelman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/flat-fee-broker-finds-cre\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/flat-fee-broker-finds-cre\/\",\"name\":\"Flat Fee Broker Finds CRE - 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