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The differences between realtors and loan officers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a loan officer has an average salary of $45,817, which is higher than the $38,290 average annual salary of a realtor.
The top three skills for a realtor include residential real estate, open houses and purchase agreements. The most important skills for a loan officer are customer service, origination, and loan origination.
| Realtor | Loan Officer | |
| Yearly salary | $38,290 | $45,817 |
| Hourly rate | $18.41 | $22.03 |
| Growth rate | 5% | 4% |
| Number of jobs | 7,482 | 63,663 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 61% |
| Average age | 49 | 45 |
| Years of experience | - | 6 |
A realtor is responsible for processing real estate transactions and assisting clients with their concerns and inquiries about a specific property. A realtor should always work for their clients' best interests, ensuring that proposals work within the client's specified budget and property goals. A realtor will also consider the security of a property location before a recommendation to ensure the client's safety and comfort. Realtors must finalize records of cost estimates and purchase agreements, which are essential in choosing the best property.
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.
Realtors and loan officers have different pay scales, as shown below.
| Realtor | Loan Officer | |
| Average salary | $38,290 | $45,817 |
| Salary range | Between $27,000 And $53,000 | Between $30,000 And $69,000 |
| Highest paying City | San Antonio, TX | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Berkshire Hathaway Homeservices Alliance Real Estate | Bangor Savings Bank |
| Best paying industry | Real Estate | Finance |
There are a few differences between a realtor and a loan officer in terms of educational background:
| Realtor | Loan Officer | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | - | University of Pennsylvania |
Here are the differences between realtors' and loan officers' demographics:
| Realtor | Loan Officer | |
| Average age | 49 | 45 |
| Gender ratio | Male, 40.2% Female, 59.8% | Male, 55.3% Female, 44.7% |
| Race ratio | Black or African American, 5.3% Unknown, 4.3% Hispanic or Latino, 13.3% Asian, 6.9% White, 69.8% 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% |