Ca: loan officer and RE agent at the same time

2 Replies

Hi, I was looking to acquire both licenses because both intrigue me. But I read that most companies do not allow you to use both at the same time and that mortgage companies are less likely to hire you if you are a real estate agent. Does anyone know of a good southern CA company that allows you to hang both licenses? Or perhaps the best way is to open a brokerage and then I can set the rules and allow it? 

Also, how possible is it to do both at the same time? I know you cant do both with the same client and youd need to be working on different clients. In terms of time, I'd imagine this can be hectic. But I'd also imagine that having both licenses just gives you more flexibility in terms of finding business. And maybe I can primarily do the one I like more and the other for friends/family.

Thank you!

Brianna,

Yes some banks/lenders will nto allow you to be the agent on your borrower loan due to conflict of interest. But keep in mind you can be both loan officer and realtor on a conventioanl loan just not an FHA loan. Before you apply for a job at a bank or lender ask that question up front to see if the bank/lender allows that dual contract.

@Brianna Hurtado You just need to find a brokerage that does both who's set up under DRE licensing regs.  Most shops out there are mortgage bankers because it's an easier setup.  By going DRE set-up, you are allowed to do both (Real estate and loan, when conventional) in the same transaction.  Example - I have that set-up.  I have the RE salesperson license and the NMLS license (State) and the way my broker is set up, I could do loans and real estate at the same time, if I wanted to.  But I don't.  Where in Southern CA are you?