Key Success Tips from a Top Visio Broker

Posted by Hannah Lapin on Nov 19, 2020 9:00:00 AM

man in suit pointing at you

The Visio Marketing Department sat down with top Visio Broker Tim Hero and his Visio Account Executive James Webb. Amazingly, Tim became a broker within the past two years. He had no prior industry knowledge yet was able to broker loans full time after three months, and he now runs an extremely successful broker shop. You may be wondering what his secret to success is, and you’re in luck. Tim shared some of his top tips with us.

Don’t Limit Yourself to One State

Tim knows many brokers who only broker deals in their home states. Yet in the age of the Internet, it is easy to market to anyone and fund deals in 35-40+ states.


Know How to Spot a Deal and Do Your Homework Early On

According to Tim, a lot of investors don’t have a clear understanding of the non-QM market and are stuck in the mindset of bank rates in the 3’s and 4’s. If the client cannot grasp private lender terms, it is usually not worth taking the time to build a relationship.

Talking to investors is a “time management game from a broker standpoint,” said Tim. “I try to vet each and every investor early on.”

Tim also asks how many people are on the title of a deal and for each of their credit scores right off the bat. “It’s better to have a deal fall through before it starts,” he explains.

From the lender standpoint, Tim’s efforts go a long way in developing the relationship. “Tim’s front-end work is gold,” said James. “When I get a phone call or an email from him, I know it is going to be a great deal.”


Don’t Be Greedy

The broker business relies on strong relationships and brokers adding value.

Tim urges brokers not to charge too many points and has seen many deals fall through because of it. “Brokers can make the whole lending process easier, or they can make it unbelievably expensive for investors.”

“The goal is not to get rich over one deal,” said Tim. “you can do several deals in a month.”

James strongly agrees. While new brokers CAN earn up to five points through Visio’s Broker Program, it is unlikely that an investor will agree to that.

“New brokers need to be conservative with their charges, since the industry is increasingly competitive.”

Ready to become an Approved Broker? Check out our Broker Program.

Become Approved Broker

Topics: Brokers

Learn About Our Loan Programs

Most Popular

Disclaimers: Please note that our blog contains affiliate links, and at no additional cost to you, Visio Lending will earn a commission if you decide to make a purchase after clicking through the link. As an Amazon Associate, I earn from qualifying purchases. Please understand that we have experience with all of the companies we recommend, and choose to refer our borrowers and partners because they are helpful and useful, not because of the small commissions we make. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.


The information in this blog has been prepared solely for informational purposes. The contents are based upon or derived form information generally believed to be reliable although Visio accepts no liability with regard to the user's reliance on it. For legal advice, please contact your counsel.