Today I want to discuss the difference between a mortgage loan officer and real estate agent . At least 3 of my closest friends recently purchased new homes but did not hire me as their realtor. I'm of course wondering WHY? I thought we were friends... you have asked me several questions about the home buying process... you're on my distribution list... you're on my Facebook business page... basically you're absorbing all my information but hire another realtor. Boy were my feelings hurt.
I decided to ask one of my friends why she did not hire me. She was very honest by telling me that she did not want someone that she personally knew to know her financial information. She did not know the difference between a real estate agent and a loan officer so I've decided to write a blog so that going forward that buyers know the role of a real estate agent vs a mortgage loan officer. A Loan Officer:
Works for a mortgage loan company or mortgage brokerage. This officer must find loans that are in the interest of the financial institution providing the loan, but which are also good for the customers. Because of this, a loan officer must be extremely knowledgeable about the different types of loans, as well as any current special interest rates, or other information that might be helpful to the customer when choosing a loan.
A Buyers Real Estate Agent:
A real estate agent works with a real estate firm who will not only look at the properties his or her agency currently is selling but will evaluate properties available through other agencies. If you find a property you like, the real estate agent helps you submit a price offer, and then continues to negotiate for a price if your initial offer is not accepted. Generally the seller pays the commission of the buyers agent therefore the service to the buyer is at no charge.
I'm a buyers real estate agent the understands privacy. Whether you are a close friend, someone referred to me or found me searching online... I'm a loyal professional and would never misuse any information that you have shared with me. If you're reading my blog and have a friend that is a realtor, please do not over look them because you do not wish to share your personal information. Your personal information will be shared with the loan officer not the realtor.
If you're in the market to buy a Charlotte Home. Call me... Yolanda Hayes with Wilkinson and Associates - Your trusted REALTOR! 704-839-6005
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