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What is a better career..Mortgage Loan Officer, or Realtor?

I want to go into the real estate feild very much. It sparks my interest so much. Anyway, what is the better route to go? What would you say the pros and cons are of each one?

Thanks! asdf

Neither in this market!

both boring

A broker! ;)

Well right now both of those careers are in the dumpster do I wouldn't plan on making too much money in them but you could actually do both.

what kind of answers this people are putting? They probably just want the points.

Here's what I can tell you. Loan officer's commission is limited to the loan he/she is making. Realtor has the potential of massive income if there's a lot of client. Imagine if there is a house for sale for $500,000
A realtor will make about $30,000 if done right and of course the commission will be shared if there's two realtor involve. Now, Loan Officer will probably make $3k to 5k out of that $500,000

So which one do you prefer?

In my opinion I would do realtor, because It gives you a option to get your brokers licence.

It depends on your interests and skills.

Loan officers deal with numbers, and work with potential mortgage customers in an office to figure out the best rates and loan programs for them.

Mortgage loan officers are generally paid salary, plus commissions, depending on the company they work with. There can be a lot of growth opportunities, as loan officers are typically associated with banks who promote from within.

A "Realtor" is the trademarked term for a member of the trade association -- the proper name for the second option is "real estate agent" (or broker).

Real estate agents are only paid on commission, and have to spend a lot of time developing relationships with people. If you enjoy working with people and making sales, then this might be an option to consider. Real estate agents can make a lot of money: typically 3% of the sale of a home, as a broker-- slightly less as a broker's salesperson (a person who works for the actual licensed broker). However, because the real estate market is weak right now, and there are a lot of agents out there, the competition for sales and clients can be tough.

Both have to go through special training, some of which may be paid by the company you'd be associated with -- or could be paid by yourself, if you wished to be self-employed.

Ive done both. I personally prefer being a Realtor.

Pros of being a Realtor- You work with the public, you get to work both in your office and out in the field (when you show the house). From an earnings standpoint, you can make more selling real estate that you can as a loan officer. Not all buyers need a loan, some pay cash. In time, you can obtain your brokers license (like I did) and you can start your own company. Even if you have a small company that just includes yourself, you can make 100,000 a year if you market yourself and are willing to work like a dog. (once you are a broker, you keep 100%. If you sponsor agents you keep a percentage of what they produce for the company

Cons of being a Realtor it is strictly commission based. You are self employed (in USA you are) and you have to pay self employment tax (which is basically your portion and the employers portion of social security and medicare) The market is cyclical and your income can be $2000 one month and $8,000 the next month.

Maybe the next poster can list the pros and cons of being a loan officer

Good Luck

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