Ask the expert: Loan officer or real estate agent?

If you're a closing agent looking to move to the other side of the business, should you become an LO or a real estate agent?

Extension of the answer to this question -- I listened to one of your recent webinars on converting leads and really enjoyed it. I am a closing agent and I have decided to move into the other side of the industry. My question is should I be a loan officer or should I be doing real estate? I know this market is going to continue to pick up and there are buyers out there, properties are still affordable and rates are still good. How do I get into this market? Should I do loans or real estate or both?
--Carol from Wisconsin

This is not part two of the answer to the above question, but it is actually an expansion of my comment about how a title agent knows a lot of Realtors. Therefore, if you are already a producing loan officer, you should be loyal and refer business to a settlement company that does a great job for your clients.

If you are doing a good job getting loans closed and also are showing superior customer service skills by attending closings or signings, then that puts you in a good position to receive referrals back. Not only do title agents know a lot of Realtors, but they also know Realtors when their lender is not doing a good job closing deals.

When those real estate agents are looking for new lenders, they should be asking about those who can close deals the right way with superlative customer service efforts. Providing that level of service and having a deeper relationship puts you in a prime "referral" position. Ask yourself, when was the last time your title agent introduced you to a real estate agent looking for a new relationship?
--Dave Hershman
Do you have a reaction to this commentary or another question you would like answered? Email Dave at [email protected].
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published.   His website is  If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].