What questions should a Realtor ask a loan officer?
Here are the questions I would ask a loan originator, if I were a brand new Realtor.
- Do YOU have any personal or business relationship with any other part of the mortgage/real estate machine? …
- Are you co-marketing with another lender? …
- Who are some of the other Realtors you work with?
Do loan officers make more than realtors?
Loan officers work in the financial industry while real estate agents, also known as real estate sales agents, work in sales. Loan officers require more formal postsecondary training, earn a notably higher salary than real estate agents and currently have better job prospects due to a faster job growth rate.
Why do realtors want you to use their lender?
Some agents choose their preferred lenders because they get deals closed quickly and reliably. That’s also good for buyers, but the missing element in this equation is the loan cost. The in-house lender may feel that they have you “buttoned up” as a customer. They may feel they no competition for your business.
Does the realtor communicate with the lender?
Your lender could communicate your preapproval amounts with your realtor, for example, and your realtor could provide information about the type of home you’re interested in to the lender.
Do loan officers make a lot of money?
How Much Does a Loan Officer Make? Loan Officers made a median salary of $63,270 in 2019. The best-paid 25 percent made $92,960 that year, while the lowest-paid 25 percent made $44,840.
Is loan originator a good job?
Mortgage loan originators enjoy great flexibility as far as working hours are concerned. Not only that, most MLO jobs come with a bountiful of benefits and perks. Which means that you can enjoy terrific benefits like, health insurance, retirement plans and even fun perks like, catered meals or holiday pay and more!
Is it better to be a loan officer or real estate agent?
While a real estate agent may be knowledgeable about different financing options, a loan officer is ultimately responsible for helping clients find the loan that is the best fit for their situation. They can help present different loan products and ensure their clients are getting the best rates and fees that are fair.
Does a Realtor help you get a loan?
Your agent can help you find a mortgage lender much more quickly and easily than a lender can help you find a good agent. Most agents have a plethora of lenders in their referral database, and a group of lenders that they’ve personally worked with in the past.
Why you shouldn’t use the builder’s lender?
The referral fees, or kickbacks, they engage in with the “builder’s lender” is not okay. It costs you money and it’s illegal per the The Real Estate Settlement and Procedures Act (RESPA). … Settlement costs are as swollen today as ever and referral power of builders remains unchecked.
Can realtor be loan officer and realtor at the same time?
Can Realtors Be Loan Officers And Real Estate Agents At Same Time? The answer is yes.