Trying to get into the business. dont know which direction to go in.
2006-10-16 12:54:09 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Depends on when you like to work... if you love working evenings and on weekends, those are your best opportunities to show properties to prospective home owners. If you like working mostly during the day with not much overtime, go for the loan officer. Be advised that a mortgage loan officer is usually salaried... so you get paid whether you have a lot of loans or not. But as a Realtor working on commission, you can pour in tons of hours and not make a sale... which means you don't get paid.
2006-10-16 13:44:44 · answer #1 · answered by Mike S 7 · 0⤊ 0⤋
Not sure what planet some of these guys think mortgage loan officers work on, but 95% of mortgage loan officers are commission only. The only real exception to that is working at a phone bank for a national bank or lender (Ditech, Eloan,....). You'll work the occasional weekend, hop in the car to see clients sometimes, but mostly it's a desk job. IF YOU DON'T LIKE WORKING EVENINGS AND WEEKENDS, DO NOT BECOME A REALTOR!!!!
2006-10-17 07:55:09 · answer #2 · answered by Anonymous · 1⤊ 0⤋
If you want to remain an employee forever, then be a mortgage loan officer. If you have a mindset of an employee with a boss and fix working hours. A Realtor works for himself. He is an entrepreneur. No set working days and hours but what he want to set for himself. For mortgage loan officer, income is also fixed but a Realtor can set his income depending on how many sales he can make. Faster to get rich than being a mortgage loan officer.
2006-10-16 13:48:52 · answer #3 · answered by GigiBF 2 · 1⤊ 0⤋
I'm a mortgage loan officer and work from my home office. I love the pay (commission only) and have the weekend to myself and my family.
I might receive the occasional phone call or email from time to time from a customer with a question but nothing I can't do with the help of my blackberry.
Several of my friends are realtors and with the market becoming "soft" they are having to put in extra hours just to close a sale. However as a loan officer I have stayed busy pricing out loans for people who are looking for HELOC's, Option ARMS and others who are just looking to REFI regular and ARM's.
Good luck!
2006-10-16 14:23:34 · answer #4 · answered by Jen G 3 · 0⤊ 1⤋
I've thought about doing both too. I decided against being a realtor because they have to work EVERY Sunday and most Saturdays. If you work for a bank, you won't have to work Holidays or Sundays.
2006-10-16 12:57:11 · answer #5 · answered by Ann507 2 · 0⤊ 0⤋
Do you like showing properties or do you love crunching numbers?
Do you like getting out of the office and seeing different neighborhoods, or do you like to stay in the office for the most part?
What are you better at? What do you enjoy more?
2006-10-17 08:48:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I can help with the real estate part of the question maybe a loan guy can help you with the rest.
Here read this:
Real estate brokers and sales agents job descriptions from the department of Labor: http://stats.bls.gov/oco/ocos120.htm
Buena Suerte
2006-10-16 13:07:05 · answer #7 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋