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The differences between real estate brokers and lenders can be seen in a few details. Each job has different responsibilities and duties. Additionally, a real estate broker has an average salary of $80,250, which is higher than the $37,723 average annual salary of a lender.
The top three skills for a real estate broker include real estate sales, purchase agreements and financial resources. The most important skills for a lender are customer service, loan applications, and business development.
| Real Estate Broker | Lender | |
| Yearly salary | $80,250 | $37,723 |
| Hourly rate | $38.58 | $18.14 |
| Growth rate | 5% | 4% |
| Number of jobs | 19,151 | 6,465 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 63% |
| Average age | 49 | 45 |
| Years of experience | - | 6 |
Real estate appraisers are unique in that many of them are self-employed. Nevertheless, it is a career that will require an enterprising, inquisitive, and motivated personality, as well as impartiality and unbiased nature. Appraisers will provide objective opinions on the value of properties, as well as assist the owners/managers/investors for real estate. They must also verify legal real estate records, inspect properties, photograph interior and exterior structures, and prepare and maintain written reports on property values.
A Lender is a financial institution, an individual, or a private or public group that provides loans to a business or an individual. As a lender, you will evaluate a borrower's creditworthiness by assessing loan applications. You will be responsible for determining an applicant's financial eligibility and all applicable metrics and ratios. Other duties might include setting up plans for debt payment, counseling clients on restrictions and policies, and maintaining and updating account records. Also, you will need to update your knowledge on the different loan types and financial services.
Real estate brokers and lenders have different pay scales, as shown below.
| Real Estate Broker | Lender | |
| Average salary | $80,250 | $37,723 |
| Salary range | Between $56,000 And $114,000 | Between $25,000 And $55,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New York | South Dakota |
| Best paying company | Village Real Estate | Citi |
| Best paying industry | Finance | Finance |
There are a few differences between a real estate broker and a lender in terms of educational background:
| Real Estate Broker | Lender | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Pennsylvania |
Here are the differences between real estate brokers' and lenders' demographics:
| Real Estate Broker | Lender | |
| Average age | 49 | 45 |
| Gender ratio | Male, 54.3% Female, 45.7% | Male, 49.2% Female, 50.8% |
| Race ratio | Black or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.2% Asian, 6.9% White, 70.0% American Indian and Alaska Native, 0.3% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.3% Asian, 6.3% White, 62.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 13% | 8% |