A Little Direction to A Newbie

[frdbrd2001]

Hi,

I just got my Calif Real Estate Sales license and recently signed up with a broker. Meanwhile, I am getting refi inquiries and none on property sell/buy. Does the license extend to loan processing? The broker I signed up with does not do loans. Should I pursue loan processing? Thanks in advance.

[RobM]

Each state is different but I am pretty sure you will need a mortgage brokers lic or something down that road. In either event, if it is something that you would like to pursue, find out what is needed and go for it

[Mike Taylor]

Someone from CA will hopefully chime in here,but I am pretty sure in Cali you can both mortgages and real estate with one license. If you are brand new to both I would just pick one to start off with.

[carlam]

In a past life I used to be a training manager and presently am a real estate professional. It has always been my motto to do one thing the best I can before moving onto another. It is better to be good at one thing, than to mediocre at many.

There is so much to learn (I am still learning and have been in the biz a little more than 3yrs). Each year has been different than the last - short sales, pre-foreclousres take a lot of work and I don't believe anyone has mastered them yet.

Stick with one, build your business, find out what it would take for the other and keep plugging along. Be consistent and it will fall into place.

I'm not sure if where you are if you could refer that business and get paid or not, but check into it and build a relationship with that person. Real Estate is all about relationships.

[SteveNordberg]

This is one title, even as an experienced Broker, I need to remember. It is very easy, especially when you are new to the business, to get distracted by the promise of income from a number of different opportunities. However, I have found that most of those opportunities only appear real.
The true money in real estate brokerage is made when you focus on a particular niche market, you focus on becoming friends with the owners in that market and you focus on providing the best service in that market.

So go out be a friend and make new friends. The money will follow.

[Orlando MLS]

You get more done when you focus on one thing. You're either in real estate or your in the mortgage business.

Some people can make it doing both. By why bother? If you focus your energy on one or the other you'll find that pretty soon you won't have time to entertain anything else.

Good luck with the new career. Get active and get yourself in front of new people every day and tell them what you do. 10 new introductions a day and you'll be off and flying in no time.

[MovingCareers]

With the state of the real estate industry, I think only the strong will survive and thrive. Though it might be an attractive idea to diversify your business, I think that ultimately it will take away from the amount of energy and time that you should be putting into your real estate business. If you are known for doing both loans and real estate, people might think you are not a true expert in either. Stay committed and good luck!