Dr. Vince Leone explains why brokers keep clients from talking directly to banks. Even qualified buyers can kill a deal with the wrong comment, so brokers control the message to protect the transaction and keep the lender's confidence intact.
And this is what I think is the most powerful thing that we do. We don't allow our clients to talk directly to the bank. And we do that for one simple reason, because they will screw it up. We have seen— not our people, but we have seen very well-qualified buyers have really, really silly conversations with the bank. And that creates doubt in the bank. And they just blow the deal up because they said something that wasn't appropriate or off-color, or it didn't give the bank confidence in them that they were going to get their money back and they weren't a good investment, and so they killed a deal. So it's not always the most well-qualified people that get the money. You have to be a little savvy with how you communicate to the bank
