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Question:

What is the difference amongst real estate broker, salesperson, agent, and loan officer?

What is the difference amongst real estate broker, salesperson, agent, and loan officer?

Answer:

A real estate broker is usually the person in charge of the real estate office with additional education and experience in handling the business and managing the personnel. A salesperson is the real estate agent who sells and lists real estate for sale and rent. He is a subordinate to the broker, but can also be a broker in some cases. The agent is the salesperson or broker. The loan officer is employed by a lending institution or mortgage broker and handles the application for a mortgage. The loan officer is forbidden by law to either list or sell the real estate involved in the mortgage loan procedure. Any major real estate company such as Century 21, Coldwell Banker, Long Foster, Weichert and others will have a complete list of all career opportunities in the real estate business.

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