Dec
17
what is the difference witween a mortgage broker and a commercial loan broker?
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3 Comments
April 21st, 2009 at 10:17 am
I dont know and i dont care
April 23rd, 2009 at 1:57 am
A mortgage broker is involved in residential lending and a commercial loan broker is involved in bigger deals like commercial office space, etc. Both are commission sales jobs so how much you make really depends on you. I think on average they have the same earning potential. A mortgage broker makes less per loan that a commercial loan broker, but they have a potential for a higher volume so I’m sure they even out in the end.
April 25th, 2009 at 6:28 pm
Both are brokers and can be one of the other or both. Most brokers specialize in certain markets so as to become to become well known for a certain field.
A commercial broker specialize in doing commercial loans such as hotels, shopping centers, motels, warehouses apartment buildings that exceed more than 5 units, and other commercial properties.
A residential mortgage broker specialize in 1-4 unit apartments, single family homes and a hybrid called mixed use properties, where as a small commercial property might also have a living space on the same property.
The earning capacity will depend on the ability of the broker, number of sales that closed and other factors. Does he work alone or have others working for him, or is he on a corporate staff?
Brokers are allowed to hire others to work for him under his license. Since others are working for him he is entitled to a share of what transactions they bring into the office and close.
Since there are a variety of ways of earning it is difficult to determine what each can earn. It is safe to say that one that has others working for him/her will probably make more in the earning department.
I hope this has been of some use to you, good luck.
“FIGHT ON”