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Updated over 10 years ago on . Most recent reply

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80
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10
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Chris Lynch
  • Commercial Real Estate Agent
  • East Providence, RI
10
Votes |
80
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Career choice ( Mortgage broker vs agent)

Chris Lynch
  • Commercial Real Estate Agent
  • East Providence, RI
Posted

I am currently a banker working with personal accounts. I am looking to make a switch into a more lucrative field in order to fund my real estate investments faster and learn more about this industry. 

After looking at Real estate related careers two fit my skill set. First is being a Real estate agent. The other is becoming a mortgage broker. I like mortgage because some company's offer a base. While Agency looks great because you are hands on in the field. Your not really flying a desk.

*average incomes between both careers seem pretty close. However I am not looking to be the average. I want to get into the one with most potential. 

Any guidance would be awesome.

My question is can you be licensed in both ?

And which is more lucrative and offers more opportunity?   

Most Popular Reply

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122
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27
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Jeff Trevarthen
  • Lender
  • San Jose, CA
27
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122
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Jeff Trevarthen
  • Lender
  • San Jose, CA
Replied

Speaking from the residential mortgage broker side, I would say, it depends...

I work in such a high cost area that I can do anywhere from 1-5 loans per month and make a pretty decent living. (My average loan amount is $400,000).

With that being said, agents in my area make a killing if they're good. 

On the contrary, with such a high cost area, the competition is tough. 

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