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The differences between loan consultants and real estate agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, a real estate agent has an average salary of $91,788, which is higher than the $38,876 average annual salary of a loan consultant.
The top three skills for a loan consultant include loan applications, origination and customer service. The most important skills for a real estate agent are customer service, real estate license, and excellent interpersonal.
| Loan Consultant | Real Estate Agent | |
| Yearly salary | $38,876 | $91,788 |
| Hourly rate | $18.69 | $44.13 |
| Growth rate | 4% | 5% |
| Number of jobs | 23,448 | 41,399 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 59% |
| Average age | 45 | 49 |
| Years of experience | 6 | - |
A Loan Consultant specializes in assessing loan applications to ensure potential clients uphold their financial obligations. Their responsibilities include conducting interviews with applicants, reviewing and verifying documentation, and evaluating financial credit and other records. They may also answer inquiries, advise potential clients on which program suits them the best, and help them understand every procedure. Moreover, there are also instances when they must handle delinquent accounts, reach out to clients, and negotiate payment terms when necessary.
A real estate agent helps owners in the selling or renting of houses, land, offices, buildings, or any piece of property. They should be knowledgeable in the area they work in, which local properties are in the market, and the competitive prices for various properties. It is their responsibility to either market or sells in the best possible and reasonable price and conditions. Negotiating is a vital skill for real estate agents as they act as the middleman for buyers and sellers. Most agents bill the client with a percentage of the final sale price as the fee, but some would get a fixed commission for every sale.
Loan consultants and real estate agents have different pay scales, as shown below.
| Loan Consultant | Real Estate Agent | |
| Average salary | $38,876 | $91,788 |
| Salary range | Between $27,000 And $54,000 | Between $66,000 And $126,000 |
| Highest paying City | Sioux Falls, SD | Long Beach, NY |
| Highest paying state | South Dakota | West Virginia |
| Best paying company | Accion | Santa Clara Valley Water District |
| Best paying industry | Finance | Finance |
There are a few differences between a loan consultant and a real estate agent in terms of educational background:
| Loan Consultant | Real Estate Agent | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between loan consultants' and real estate agents' demographics:
| Loan Consultant | Real Estate Agent | |
| Average age | 45 | 49 |
| Gender ratio | Male, 57.2% Female, 42.8% | Male, 43.4% Female, 56.6% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 5.2% Unknown, 4.3% Hispanic or Latino, 13.0% Asian, 6.8% White, 70.3% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 8% | 13% |