2006-09-21 18:42:17 · 8 answers · asked by alianute 1 in Business & Finance ➔ Renting & Real Estate
Depends upon the drive of the person, the market they are in, and the level of success they seek. Some sit and wait for things to come to them, some get up and go for the gold. I went from 20 yrs in trucking to real estate, and made the Million Dollar sales club the first year. I never looked back. I could not afford to fail, it was not an option.
It also depends upon the "house" splits and how many homes you close. Generally real estate brokers earn more than associate or affiliate brokers. That is simply a reflection differences if the education and experience levels between the 2.
Mortgage officials are no different. Some are good some live on the "salary" until they go commissioned then find another place to go to and repeat the process. Both professions potentially can pay very well, but as in any profession it requires hard work. If you are willing to pay the price you too can be successful.
2006-09-21 19:14:29 · answer #1 · answered by tnbroker1 3 · 0⤊ 0⤋
All brokers do, a Real Estate broker is usually the owner of the firm and makes the most money, loan officers and/or Real Estate agents work under him or her and are paid a certain percentage/ transaction.
Whether it is a Realty company or a Mortgage brokerage, mortgage brokers are prone to make higher commissions and profits, due to the fact that they handle purchase transactions as well as refinances, the volume is what matters and number of transactions.
They are paid from to ends, the lender and the borrower, the lender pays a yield spread premium aka rebate, basis points, and they are also paid by the borrower, (points) based on the loan amount. so it is all based on percentages.
I would say a mortgage broker makes the most. Keep in mind that a commercial broker makes very high profits, because the purchase price of commercial properties are in the millions.
2006-09-21 19:43:38 · answer #2 · answered by You are loved 5 · 0⤊ 0⤋
Both loan officers and agents are compensated based on the amount of transaction. Assuming that most people buys properties with some down payment. So the bases of a loan officer is smaller than real estate agent.
Say a house is $100k down payment of $20k. The loan officer gets a fraction of $80k loan and the agent gets a fraction of the whole $100k.
Brokers get lower percentage than agents on per transaction bases. However, if a broker have lots of agents working for him, then he could still make more money than an average agent.
2006-09-21 18:58:25 · answer #3 · answered by JQT 6 · 0⤊ 1⤋
for my section, usually actual sources brokers make approximately 3% of the acquisition cost consistent with deal the place till you're a especially sketchy loan officer you're making approximately 2-2.5% of the indoors maximum loan quantity. whether that isn't the take abode provided that with the two profession you will could pay a share to the enterprise you paintings below. And in this industry that is probable no longer the superb time to take the two place.
2016-10-01 05:53:58 · answer #4 · answered by laseter 4 · 0⤊ 0⤋
Be brokers get more than you do. The people who close your loans are going to get a hefty share.You will make more money if you could get your broker license and start selling under your license. So if you sold a property yourself, you would get all the comission.
2006-09-21 19:00:19 · answer #5 · answered by Sunny louise 4 · 0⤊ 1⤋
I have heard that real state agents because their comission is higher.
2006-09-21 18:44:31 · answer #6 · answered by martina l 2 · 0⤊ 1⤋
RE agents
2006-09-21 19:35:18 · answer #7 · answered by shishir g 2 · 0⤊ 1⤋
All of them and you pay for it.
2006-09-21 18:43:57 · answer #8 · answered by Tamara 4 · 0⤊ 1⤋