What is a better trade..Mortgage Loan Officer, or Realtor?
I want to go into the real estate feild deeply much. It sparks my interest so much. Anyway, what is the better route to go? What would you say the pros and cons are of respectively one?
Thanks!
Answers:
In my inference I would do realtor, because It gives you a option to win your brokers licence.
It depends on your interests and skills.
Loan officer deal with numbers, and work beside potential mortgage customers in an office to amount out the best rates and loan programs for them.
Mortgage loan officers are generally remunerated salary, plus commissions, depending on the company they work with. There can be profoundly of growth opportunities, as loan officers are typically associated beside banks who promote from within.
A "Realtor" is the trademarked occupancy for a member of the trade association -- the proper name for the second remedy is "real estate agent" (or broker).
Real estate agents are only salaried on commission, and have to spend a lot of time developing relationships next to people. If you enjoy working next to people and making sales, after this might be an option to consider. Real estate agents can make profoundly of money: typically 3% of the sale of a home, as a broker-- slightly less as a broker's salesperson (a character who works for the actual licensed broker). However, because the real estate market is skinny right now, and there are seriously of agents out there, the competition for sales and clients can be tough.
Both hold to go through special training, some of which may be paid by the company you'd be associated next to -- or could be paid by yourself, if you wished to be self-employed. Source(s): http://www.bls.gov/K12/money03.htm
http://www.bls.gov/k12/money05.htm
A broker! ;)
Well right now both of those careers are contained by the dumpster do I wouldn't plan on making too much money in them but you could actually do both.
both boring Source(s): http://answers.yahoo.com/question/index;…
Neither surrounded by this market!
Ive done both. I personally prefer being a Realtor.
Pros of person a Realtor- You work with the public, you get to work both surrounded by your office and out in the area (when you show the house). From an earnings standpoint, you can make more selling valid estate that you can as a loan officer. Not all buyers need a loan, some settle up cash. In time, you can obtain your brokers license (like I did) and you can start your own company. Even if you own a small company that just includes yourself, you can make 100,000 a year if you marketplace yourself and are willing to work like a dog. (once you are a broker, you hold 100%. If you sponsor agents you keep a percentage of what they produce for the company
Cons of being a Realtor it is strictly commission base. You are self employed (in USA you are) and you have to pay self employment toll (which is basically your portion and the employers portion of social surety and medicare) The market is cyclical and your income can be $2000 one month and $8,000 the next month.
Maybe the subsequent poster can list the pros and cons of being a loan officer
Good Luck Source(s): Texas Real Estate Broker
asdf
Related Questions:
Possible to enjoy a mortgage loan where on earth homeowners ins. is not escrowed ?
My sister has her mortgage with Bank of America. She swears she pays $40 a month for homeowners insurance - seperate from the mortgage check. I guess she sends State Farm a costs every month. Have you ever heard...
Thanks!
Answers:
In my inference I would do realtor, because It gives you a option to win your brokers licence.
It depends on your interests and skills.
Loan officer deal with numbers, and work beside potential mortgage customers in an office to amount out the best rates and loan programs for them.
Mortgage loan officers are generally remunerated salary, plus commissions, depending on the company they work with. There can be profoundly of growth opportunities, as loan officers are typically associated beside banks who promote from within.
A "Realtor" is the trademarked occupancy for a member of the trade association -- the proper name for the second remedy is "real estate agent" (or broker).
Real estate agents are only salaried on commission, and have to spend a lot of time developing relationships next to people. If you enjoy working next to people and making sales, after this might be an option to consider. Real estate agents can make profoundly of money: typically 3% of the sale of a home, as a broker-- slightly less as a broker's salesperson (a character who works for the actual licensed broker). However, because the real estate market is skinny right now, and there are seriously of agents out there, the competition for sales and clients can be tough.
Both hold to go through special training, some of which may be paid by the company you'd be associated next to -- or could be paid by yourself, if you wished to be self-employed. Source(s): http://www.bls.gov/K12/money03.htm
http://www.bls.gov/k12/money05.htm
A broker! ;)
Well right now both of those careers are contained by the dumpster do I wouldn't plan on making too much money in them but you could actually do both.
both boring Source(s): http://answers.yahoo.com/question/index;…
Neither surrounded by this market!
Ive done both. I personally prefer being a Realtor.
Pros of person a Realtor- You work with the public, you get to work both surrounded by your office and out in the area (when you show the house). From an earnings standpoint, you can make more selling valid estate that you can as a loan officer. Not all buyers need a loan, some settle up cash. In time, you can obtain your brokers license (like I did) and you can start your own company. Even if you own a small company that just includes yourself, you can make 100,000 a year if you marketplace yourself and are willing to work like a dog. (once you are a broker, you hold 100%. If you sponsor agents you keep a percentage of what they produce for the company
Cons of being a Realtor it is strictly commission base. You are self employed (in USA you are) and you have to pay self employment toll (which is basically your portion and the employers portion of social surety and medicare) The market is cyclical and your income can be $2000 one month and $8,000 the next month.
Maybe the subsequent poster can list the pros and cons of being a loan officer
Good Luck Source(s): Texas Real Estate Broker
asdf
Related Questions:
Possible to enjoy a mortgage loan where on earth homeowners ins. is not escrowed ?
My sister has her mortgage with Bank of America. She swears she pays $40 a month for homeowners insurance - seperate from the mortgage check. I guess she sends State Farm a costs every month. Have you ever heard...