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Real estate loan officer vs real estate broker

The differences between real estate loan officers and real estate brokers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a real estate loan officer has an average salary of $90,206, which is higher than the $80,250 average annual salary of a real estate broker.

The top three skills for a real estate loan officer include real estate loans, mortgage loans and business development. The most important skills for a real estate broker are real estate sales, purchase agreements, and financial resources.

Real estate loan officer vs real estate broker overview

Real Estate Loan OfficerReal Estate Broker
Yearly salary$90,206$80,250
Hourly rate$43.37$38.58
Growth rate4%5%
Number of jobs82,58119,151
Job satisfaction--
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 65%
Average age4549
Years of experience6-

Real estate loan officer vs real estate broker salary

Real estate loan officers and real estate brokers have different pay scales, as shown below.

Real Estate Loan OfficerReal Estate Broker
Average salary$90,206$80,250
Salary rangeBetween $56,000 And $144,000Between $56,000 And $114,000
Highest paying City-New York, NY
Highest paying state-New York
Best paying company-Village Real Estate
Best paying industry-Finance

Differences between real estate loan officer and real estate broker education

There are a few differences between a real estate loan officer and a real estate broker in terms of educational background:

Real Estate Loan OfficerReal Estate Broker
Most common degreeBachelor's Degree, 66%Bachelor's Degree, 65%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Southern California

Real estate loan officer vs real estate broker demographics

Here are the differences between real estate loan officers' and real estate brokers' demographics:

Real Estate Loan OfficerReal Estate Broker
Average age4549
Gender ratioMale, 54.6% Female, 45.4%Male, 54.3% Female, 45.7%
Race ratioBlack or African American, 8.4% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 64.0% American Indian and Alaska Native, 0.5%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%
LGBT Percentage8%13%

Differences between real estate loan officer and real estate broker duties and responsibilities

Real estate loan officer example responsibilities.

  • Manage a multifacete commercial real estate investment firm.
  • Supervise loan from origination and application through processing and final disposition.
  • Complete origination documents, obtain necessary signatures and deliver complete loan package to processing.
  • Schedule property website implementation from template, update internet/social media advertising, and handle MLS entry.
  • Train to use a mortgage calculator and experience using calyx point.

Real estate broker example responsibilities.

  • Manage all accounting, cash management, budgeting and financing for individual LLC's and for corporate entity.
  • Prepare all marketing materials, coordinate closings, enter necessary data into the MLS to ensure homes are represent correctly
  • Review, analyze and process moderately complex homeowner property, contents and liability claims within assign work with REO properties.
  • Stabilize operations and financial performance of underperforming properties, directing investors in maximizing value and/or divesting assets to optimize ROI.
  • Process the movement of funds and equities.
  • Prepare and submit probate and administration petitions.
  • Show more

Real estate loan officer vs real estate broker skills

Common real estate loan officer skills
  • Real Estate Loans, 19%
  • Mortgage Loans, 8%
  • Business Development, 7%
  • Escrow, 7%
  • Financial Products, 6%
  • Financial Statements, 5%
Common real estate broker skills
  • Real Estate Sales, 14%
  • Purchase Agreements, 11%
  • Financial Resources, 8%
  • Property Management, 7%
  • Open Houses, 5%
  • Client Relationships, 4%

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