Mortgage Broker Versus Real Estate Agent

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, the mortgage services are meant to make use of variety of resources in the finance industry. A number of things are there that differentiates a real estate agent from a mortgage broker.

Lets check out the major differences between the two thoroughly through this article.

Education & experience

For real estate agent, one is required to come with a marketing or sales background. Along with a high school diploma at minimum, certain education in real estate financing as well as law may be asked by some agencies.

To be a mortgage broker agent, one is required to have sales, marketing or a banking background. The most essential thing that requires here is that one should come with the knowledge of lending institutions along with complete information on updated lending rates and terms of a state. With proficiency in mathematics, one should also have good writing and verbal skills to deal the clients boldly.

Personal skills

As a real estate agent, one should be trustworthy, mature and have qualities like a desire to be helpful and an outgoing personality so that he will be able to present a house and explain the features it provides. Patience is a must as one may have to show the same property to a number of prospective buyers without any sale.

Other than outgoing personality and a desire to be helpful, the mortgage solution experts in Coquitlam are required to explain the financial concepts to the clients for any residential or commercial property. They come with the skills to update their clients with the current lending rates and terms so that the clients can receive most of benefits.

Other than patience, a broker agent needs to come with a variety of resources and better contacts in the finance industry to serve the clients accordingly.

Work

The mortgage brokers in Coquitlam are meant to act on behalf of the clients to find them the best terms of mortgage as well as the interest rates. Helping the clients with latest interest rates and loan terms are considered an essential part of brokers job in Coquitlam.

Contrary to this, the work of the real estate agent is to show homes or property to the real estate investors or other prospective buyers. They actually act as a liaison between the buyers and the sellers.

Apart from the above discussed ones, there are so many differences between the real estate agents and the mortgage solution experts. But, common things among the both include that the compensation for both of the careers are based on the productivity and in both the careers a calm mind and patience is required to deal comfortably with a number of clients.

by: Henry Hanson

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