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The differences between loan specialists 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 $43,081 average annual salary of a loan specialist.
The top three skills for a loan specialist include loan applications, customer service and financial statements. The most important skills for a real estate agent are customer service, real estate license, and excellent interpersonal.
| Loan Specialist | Real Estate Agent | |
| Yearly salary | $43,081 | $91,788 |
| Hourly rate | $20.71 | $44.13 |
| Growth rate | -3% | 5% |
| Number of jobs | 29,041 | 41,399 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 59% |
| Average age | 42 | 49 |
| Years of experience | 4 | - |
A loan specialist is in charge of processing loans to make transactions easier for the clients. They usually work in banks, lending firms, and other financial institutions. One of their primary responsibilities is to guide clients to understand what program works best for them, assist in filling out forms, gathering requirements, and verifying authenticity. There are also instances where a loan specialist must discern whether a client can uphold financial obligations using the information collected. Furthermore, it is also their responsibility to produce and submit reports to creditors or lenders.
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 specialists and real estate agents have different pay scales, as shown below.
| Loan Specialist | Real Estate Agent | |
| Average salary | $43,081 | $91,788 |
| Salary range | Between $26,000 And $68,000 | Between $66,000 And $126,000 |
| Highest paying City | Mount Laurel, NJ | Long Beach, NY |
| Highest paying state | Maryland | West Virginia |
| Best paying company | FNB | Santa Clara Valley Water District |
| Best paying industry | Finance | Finance |
There are a few differences between a loan specialist and a real estate agent in terms of educational background:
| Loan Specialist | Real Estate Agent | |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between loan specialists' and real estate agents' demographics:
| Loan Specialist | Real Estate Agent | |
| Average age | 42 | 49 |
| Gender ratio | Male, 30.9% Female, 69.1% | Male, 43.4% Female, 56.6% |
| Race ratio | Black or African American, 12.7% Unknown, 4.3% Hispanic or Latino, 16.7% Asian, 7.3% White, 58.6% 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% |