I currently work in the loan originating world side by side with a top grossing loan officer. As I find my job a great resource for information and learning about mortgages, loan types, appraisals, current Fannie/Freddie laws etc, etc. I got the idea about possibly getting my real estate license to sell maybe 2-5 homes a year. I have the flexibility to meet customer demands, what I'm curious about is whether being an agent requires me to be employed by someone or can I run the show alone? I have a lot of recourses and I also am not doing it for a career. Just want to make some money occasionally!
Appreciate any feedback I can get!
It may be different in Arizona but its probably not too different. Here in CO every agent has to work under a managing broker for at least 2 years before starting their own company. Now with that said, there are managing broker out there, in fact I would say quite a few brokers out there, could care less if you had 10 sales or 1 sale. So you can absolutely do it as a hobby.
Something you would need to be careful and you should probably talk to a lawyer about is how it would work if you were both an agent and a loan officer as it could be seen as a conflict of interest, especially if your clients were using your mortgage broker.
Hi @Collin Smith,
That is great advice! Also a relief, I'm just using the loan origination for networking and my loan officer because he's very seasoned in this business. I also feel like it helps me walk people through the loan process. I wouldn't originate their loans but I would be able to prepare people well. I think! Thanks again!
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