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The differences between mortgage 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 $40,527 average annual salary of a mortgage processor.
The top three skills for a mortgage processor include customer service, FHA and va. The most important skills for a real estate agent are customer service, real estate license, and excellent interpersonal.
| Mortgage Processor | Real Estate Agent | |
| Yearly salary | $40,527 | $91,788 |
| Hourly rate | $19.48 | $44.13 |
| Growth rate | -3% | 5% |
| Number of jobs | 9,057 | 41,399 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 59% |
| Average age | 42 | 49 |
| Years of experience | 4 | - |
A mortgage processor is responsible for reviewing mortgage loan applications, evaluating applicants' documents, and verifying their eligibility for approval. Mortgage processors consider the applicant's financial statements, credit score, and other possible mortgage options. They also interview loan applicants to confirm the accuracy of submitted documents and keep them updated with the progress and final decisions. A mortgage processor works closely with the underwriting department for loan applications subject for further review. The mortgage processor needs to have a broad knowledge of the banking industry and loan procedures to guide the applicants with their application inquiries and concerns.
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.
Mortgage processors and real estate agents have different pay scales, as shown below.
| Mortgage Processor | Real Estate Agent | |
| Average salary | $40,527 | $91,788 |
| Salary range | Between $31,000 And $52,000 | Between $66,000 And $126,000 |
| Highest paying City | Phoenix, AZ | Long Beach, NY |
| Highest paying state | Arizona | West Virginia |
| Best paying company | CyberCoders | Santa Clara Valley Water District |
| Best paying industry | Professional | Finance |
There are a few differences between a mortgage processor and a real estate agent in terms of educational background:
| Mortgage Processor | Real Estate Agent | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between mortgage processors' and real estate agents' demographics:
| Mortgage Processor | Real Estate Agent | |
| Average age | 42 | 49 |
| Gender ratio | Male, 24.2% Female, 75.8% | Male, 43.4% Female, 56.6% |
| Race ratio | Black or African American, 13.0% Unknown, 4.2% Hispanic or Latino, 14.1% Asian, 6.6% White, 61.6% 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% |