Real Estate Agent vs. Mo🍰rtgage Broker: An Overview

A real estate agent helps buyers and sellers find or sell a property, and a mortgage broker helps buyers find the financing to purchase a property. They share similar job attributes—as licensed professionals in the real estate industry, both help their clients obtain residential or commercial properties. However, there are distinct differences between 澳洲幸运5开奖号⛄码历史查询:real estate agents and mortgage brokers.

Real Estate Agent

Because the 澳洲幸运5开奖号码历史查询:real estate industry can be extremely competitive, an outgoing personality, a desire to be helpful, maturity, and trustworthiness are essential qualities if you want to become a real estate agent. A residential real estate agent should also be able to 澳洲幸运5开奖号码历史查询:present a hoಌuse ཧand sell the features it provideꦗs in a pleasing manner. A creative eye for design and detail can be a strong asset in this profession.

Depending on whether an agent is acting on behalf of a buyer or seller, these are typical responsibilities:

• Show properties and homes
• Find properties and homes to sell or for buyers
• Negotiate between and act as a liaison between the buyer and the seller
• Follow the local real estate market
• Provide financing guidance (in some cases)

The qualifications for 澳洲幸运5开奖号码历史查询:becoming a real estate agent may include a background in sales or marketing and, at minimum, a high school diploma. Every real estate agent must have a license. Depending on the state and agency, additional education in financing and housing laws may be required.

The job often requires long hours and many days of showing houses or 澳洲幸运5开奖号码历史查询:commercial property to prospective buyers without making a sale, so patience is also a must. If you like events to move quickly and need a 澳洲幸运5开奖号码历史查询:paycheck every week, a commission-based real estate agent's job may not 💞be𒆙 for you.

People with jobs or other obligations are often occupied during the day and do their 澳洲幸运5开奖号码历史查询:house-hunting on nights and we෴ekends. As a result, real estate agents must be willing to make themselves available on short notice whenever their clients🐷 need them.

Compensation

The above is a list of real estate agent compensation ranges in various categories from PayScale.൩com as of April 2025. The numbers reflect a range of averages for real estate agents in the U.S. Some agents may earn less, while others who are very good (and perhaps lucky) may earn more.

Some agencies may pay a nominal salary on a weekly, biweekly, or monthly basis, but most agents are compensated with commission&nb💃sp;after a sale, based on a predetermined percentage of the sale price. Earnings as a real estate agent tend to increa💮se with experience.

Mortgage Broker

澳洲幸运5开奖号码历史查询:Mortgage brokers act on behalf of clients to find them the 澳洲幸运5开奖号码历史查询:best interest rate and terms for a mortgage, either on a private residence or a commercial property. Researching the latest interest rates and loan terms is an essential and ongoing part of a mortgage broker's job of securing the best rates for a client. Some brokers may develop relationships with favored 澳洲幸运5开奖号码历史查询:lending institutions, b🗹ut a g🐻ood broker will look out for their clients' best interests.

Given the job's key component of finding the best loan options for their clients, a deep knowledge of 澳洲幸运5开奖号码历史查询:lending institutions, lending rates, and terms is a must. Familiarity with 澳洲幸运5开奖号码历史查询:creditworthiness criteria and credit reporting is es𝔉sential, as is a strong proficiency in math, verbal, and writing ⛎skills.

Mortgage brokers must accommodate their customers' schedules, and a friendly, outgoing personality can go a long way with clients. Being a mortgage broker often requires long hours and many days of searching for a lender willing to work with the prospective borrower, so patience is just as critical in this field. This quality will also serve brokers well when they have to accept several rejections from lenders when trying to put a loan together.

Compensation

Shown above are the mortgage broker compensation ranges from PayScale.com for 2024, in various categories.

Many mortgage brokers have a sales, 澳洲幸运5开奖号码历史查询:marketing, or finance background, especially in banking. If you want to be a mortgage broker, you will need a high school diploma at the very least to obtain your broker's license. To do so, you must take the national SAFE 澳洲幸运5开奖号码历史查询:Mortgage Loan Originator Test and a test on the rules and regulations for the state you plan to work in.

Mortgage brokers may earn 澳洲幸运5开奖号码历史查询ﷺ:a salary as well as additional compensation in the form of a commission based on a predetermined percentage of the mortgages secured. The numbers reflect a range of averages for mortgage brokers in the U.S. Some brokers may earn less, while better, more experienced🤡 bro💖kers may earn more.

The Bottom Line

Although they work in the same industry and serve the same market, real estate agents and mortgage brokers have different duties. In a nutshell, a real estate agent helps their clients 澳洲幸运5开奖号码历史查询:buy, sell, and rent real estate, whereas a mortgage broker helps their clients f🧔ind financing to purchase a property.