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The differences between real estate brokers and loan officers 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 $45,817 average annual salary of a loan officer.
The top three skills for a real estate broker include real estate sales, purchase agreements and financial resources. The most important skills for a loan officer are customer service, origination, and loan origination.
| Real Estate Broker | Loan Officer | |
| Yearly salary | $80,250 | $45,817 |
| Hourly rate | $38.58 | $22.03 |
| Growth rate | 5% | 4% |
| Number of jobs | 19,151 | 63,663 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 61% |
| 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.
Loan officers are responsible for assisting borrowers on the best type of loans to avail and guiding the clients throughout the application process. A loan officer must be highly knowledgeable about different lending products, payment plans, loan regulations, and essential files for fast loan approval. Loan officers also act as the first point of contact, conducting an initial screening of the customers, process loan contracts and appropriate documentation, update account records, and respond to customer's inquiries. A loan officer also has the right to reject loan applicants who do not meet loan qualifications.
Real estate brokers and loan officers have different pay scales, as shown below.
| Real Estate Broker | Loan Officer | |
| Average salary | $80,250 | $45,817 |
| Salary range | Between $56,000 And $114,000 | Between $30,000 And $69,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Village Real Estate | Bangor Savings Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a real estate broker and a loan officer in terms of educational background:
| Real Estate Broker | Loan Officer | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Pennsylvania |
Here are the differences between real estate brokers' and loan officers' demographics:
| Real Estate Broker | Loan Officer | |
| Average age | 49 | 45 |
| Gender ratio | Male, 54.3% Female, 45.7% | Male, 55.3% Female, 44.7% |
| 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, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 13% | 8% |