How Do I Become a Mortgage Broker?
Mortgage brokers are the middle man to provide financial options to home buyers before they make a purchase. This position is primarily a commission based income, however, in the past it has been a salaried standard pay through some companies. Here are a few basics on becoming a mortgage broker.
• Education – The education of a mortgage broker usually consists of a bachelor’s degree in real estate or a related field such as finance. It can also require a license in some states. Also, some employers require a license to show competencies, especially if the applicant is new to the field.
• Pay – The average pay, as of 2013, is approximately $72,000/year. This can differ greatly if the position is primarily commission. However, with persistence and a good buying year, salaries are seen in the upper $200,000s.
• Requirements / Duties – The duties of a mortgage broker include knowing the financial and real estate markets to get the best price for your clients. This also includes having a comfortable grasp of basic math, as well as presentation skills. The documentation for the loan is then signed after an agreement has been reached on a price. This is also the responsibility of the mortgage broker.
Considering taking a mortgage broker course in Nevada? Check out KeyRealtySchool.com, for more information and about how to get started on your new career, today!
Related Posts
How to Get Your Broker’s License in Nevada
Real estate agents are discovering that the next step to advancing their career is to become a broker. As a broker, you will also be capable of handling the financial side of the real estate transaction process. There are certain requirements you must fulfill in order to get your broker’s license. They may vary from […]
What to Expect From Nevada Broker Pre-Licensing Courses
Have you attained your real estate license and are now thinking of becoming a broker? Before taking your first steps to advance your career, make sure you have a basic understanding of what to expect from the required courses to become a broker: Broker Management This course is designed to teach prospective real estate brokers […]
Successful Real Estate Broker Best Practices
The real estate market is filled with ups and downs. When starting out as a new real estate broker, it can be overwhelming to handle all of the new responsibilities of managing your own team of agents while growing your business. So why not follow some tried and true real estate broker best practices and […]
Need help preparing for your PSI exam?
We’re here to help you pass your PSI exams in Nevada with flying colors.
Get in touch with us to discuss your options with an enrollment advisor.
