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The differences between loan processors 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 $38,122 average annual salary of a loan processor.
The top three skills for a loan processor include loan applications, customer service and property appraisals. The most important skills for a real estate agent are customer service, real estate license, and excellent interpersonal.
| Loan Processor | Real Estate Agent | |
| Yearly salary | $38,122 | $91,788 |
| Hourly rate | $18.33 | $44.13 |
| Growth rate | -3% | 5% |
| Number of jobs | 16,228 | 41,399 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 46% | Bachelor's Degree, 59% |
| Average age | 42 | 49 |
| Years of experience | 4 | - |
A loan processor is responsible for assisting customers with their loan requests, ensuring their eligibility, and choosing the best loan options for their needs. Loan processors carefully review loan application documents and prepare loan proposals for underwriting, analyzing the applicant's financial status and credit scores, processing repayment plans, and adhering to banking and financial regulations. A loan processor must have excellent knowledge of the banking industry and processes to provide the best loan services for the customers efficiently and accurately.
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 processors and real estate agents have different pay scales, as shown below.
| Loan Processor | Real Estate Agent | |
| Average salary | $38,122 | $91,788 |
| Salary range | Between $28,000 And $50,000 | Between $66,000 And $126,000 |
| Highest paying City | San Francisco, CA | Long Beach, NY |
| Highest paying state | West Virginia | West Virginia |
| Best paying company | Stanford University | Santa Clara Valley Water District |
| Best paying industry | Finance | Finance |
There are a few differences between a loan processor and a real estate agent in terms of educational background:
| Loan Processor | Real Estate Agent | |
| Most common degree | Bachelor's Degree, 46% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between loan processors' and real estate agents' demographics:
| Loan Processor | Real Estate Agent | |
| Average age | 42 | 49 |
| Gender ratio | Male, 20.6% Female, 79.4% | Male, 43.4% Female, 56.6% |
| Race ratio | Black or African American, 12.5% Unknown, 4.3% Hispanic or Latino, 17.1% Asian, 7.4% White, 58.3% American Indian and Alaska Native, 0.4% | 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 | 7% | 13% |