What is a "helicopter broker"? - and how they actually disrupt transactions

     I'll have to put this term in the new urban dictionary: Helicopter Broker. This is the broker that hovers over every aspect of the transaction where his or her participation is not needed. Often, a broker will refer a transaction to us. If we accept the deal, we take over from there. We are perfectly capable of handling the file once it is handed off. The helicopter broker tends to hover over every aspect of the transaction and require instant, constant updates as to the progress of the file and questioning every decision and procedure along the way.
     As a referring broker, the best posture to take is to sit back, relax and let things happen. Being a "Nervous Nellie" only irritates all of the parties involved and ultimately spooks the borrower into getting nervous over nothing.
     We, as a procurring broker, with a direct relationship to the funder have ONE PERSON designated to speak with the funding source. This protocol keeps things simple. A funder does not want to answer to 6 different people or answer the same question 6 times. Not to mention...the number one cardinal sin of broker etiquette is to circumvent the procurring broker and contact the funder. That is bridge burner. It will also cost you your commission.
     My advice to helicopter brokers is to spend their time looking for other deals, rather than focusing on a deal that is already in motion and in competent hands.