Mortage/loan officer too much conflict of interest??

**Merkaba** · 03-10-2007, 10:45 PM

I was thinking of looking into being a mortgage officer. First to get more of a handle on financing to be a better agent. But why not offer the service as well, legal if I give a list of other companies from what I gather but is it just too risky or too much? I just passed my tests, first try! yes. I dont even have a broker yet but I'm still wanting to learn. I know many do it, so whats you guy's and gal's opinions?

**Alpharetta** · 03-13-2007, 04:31 PM

I don''t think that type of business model is for me, but, it is possible. The question I have for you is that if it is hard to be a succesful real estate agent and REALTOR, and it is hard to be a succesful loan officer, what makes you think that you can do both combined and be succesful?

**Merkaba** · 03-16-2007, 07:28 AM

Originally Posted by Alpharetta

I don''t think that type of business model is for me, but, it is possible. The question I have for you is that if it is hard to be a succesful real estate agent and REALTOR, and it is hard to be a succesful loan officer, what makes you think that you can do both combined and be succesful?

I like being a service to people and it would seem that a large percentage of the leads on any one side would potentially benefit the other. I didnt know it was "HARD" to do either one of these industries. Why do you say that?

**Alpharetta** · 03-16-2007, 07:36 AM

When I say "hard" what I mean is that many people get in to the real estate business expecting it to be easy and to make a lot of money. The truth is that the "average" full time real estate agent makes less than $30,000/year. This is full time, all the time, no other job and that means no diverting energy and money to other ventures. So if you start tryng to do both, you will take time and money away from the other. If you are new this would potentially be harder than it would be to do once you aresuccesful for some time and have business coming in from one side or the other. I would not recommend trying to do both first. Pick one and be the best you can at it. If you are successful at selling real estate, you will not want to try to get involved in the mortgage process.

**chrishummel** · 03-16-2007, 10:32 AM

I've never done both so its hard to comment. I think it would be easier if you had some experience. I would think most successful agents wouldn't have time to do loans. However if their role was limited they could make it work. (Ex. Get the loan app signed and turn over to a processor and have them do all the other leg work)

**Merkaba** · 03-17-2007, 09:35 AM

Originally Posted by Alpharetta

When I say "hard" what I mean is that many people get in to the real estate business expecting it to be easy and to make a lot of money. The truth is that the "average" full time real estate agent makes less than $30,000/year. This is full time, all the time, no other job and that means no diverting energy and money to other ventures. So if you start tryng to do both, you will take time and money away from the other. If you are new this would potentially be harder than it would be to do once you aresuccesful for some time and have business coming in from one side or the other. I would not recommend trying to do both first. Pick one and be the best you can at it. If you are successful at selling real estate, you will not want to try to get involved in the mortgage process.

30,000....Is that Gross or net????