Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

6
Posts
2
Votes
Gavin Lewis
  • Real Estate Agent
  • Sioux Falls, SD
2
Votes |
6
Posts

Switch from Realtor to Loan Officer?

Gavin Lewis
  • Real Estate Agent
  • Sioux Falls, SD
Posted

I have been a Realtor for about 1.5 years and have done relatively well. However I was recently approached by a Lender who offered me a job as a Loan Officer. I wanted to see if anyone had made the switch (or visa versa) and what your thoughts were.

I've been in sales for a while and am very proficient on the phone, I imagine I can make similar money (if not more). Does anyone find that being a loan officer is more fulfilling than a Realtor? What would be different stress factors or unfavorable aspects of the job? What's better about being an LO vs a Realtor?  

Thanks in advance!

Most Popular Reply

User Stats

9,934
Posts
10,789
Votes
Chris Mason
  • Lender
  • California
10,789
Votes |
9,934
Posts
Chris Mason
  • Lender
  • California
ModeratorReplied
Originally posted by @Russell Brazil:

Maybe @Chris Mason will have some sight as well....but I generally feel that the personality types that make a good agent, wouldnt work as a loan officer and vice versa.

I also personally feel like what guys like Chris do is harder than what I do as an agent. (I wonder if he feels the same way about the reverse.) A loan officer has to do like 3 times as many deals a year as an agent, and they do the good ones. But I think its so much easier coming up with 30 clients a year to deal with instead of 100. 

Eh, I wouldn't say harder or easier. What we do is more efficient. I'm not spending my weekends driving my 100 clients all over town and playing marriage counselor (except once in a while), but you're busy doing exactly that with your 30 as a Realtor (and for nearly all 30 too). So it scales better on our side... provided you can drum up those 100 clients. If you're a 30 clients/yr kind of person either way, stick to being a Realtor. 

I do agree that it's yin/yang. If I tried to be a Realtor, was showing a home, and someone told me the kitchen didn't "feel warm," then I'd turn up the thermostat, declare the problem solved, and tell them to write an offer or GTFO. :) That sort of approach works for mortgages where it's a number you can quantify and exactly measure, but not for being a Realtor where it's an aesthetic and a feeling. 

There are a lot more failed LOs that become successful Realtors, than there are failed Realtors that become successful LOs. A bunch of my successful Realtor partners, oddly enough, are former LOs.

If you are a member of NAR as a Realtor, I would never personally hire you, under any circumstances. If any of my Realtor partners found out that I had a Realtor in my employ, well, I'm sure you could figure out how that would go.

  • Chris Mason
  • Loading replies...