Loan Officers vs Real Estate Sales Agents salary

The US Bureau of Labor Statistics has reported that Loan Officers have an average annual salary of $80,570, while Real Estate Sales Agents earn an average of $61,480 per year. This indicates that Loan Officers earn more than Real Estate Sales Agents.

Nevertheless, it's worth noting that factors such as location, experience, and the specific workplace can affect salary. As an example, Loan Officers in New York may have higher earnings (averaging $107,770 per year) compared to those in Mississippi ($55,340). As another example, the average wage of Real Estate Sales Agents in Massachusetts is 124% higher than those in Tennessee.

Loan Officers vs Real Estate Sales Agents overview

Loan Officers and Real Estate Sales Agents are two important occupations in the Credit Intermediation and Real Estate industries respectively. There is a common interest in understanding the differences between these job titles, as well as the average pay for each.

Loan Officer job description

Loan Officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

Loan Officer education and experience

The majority of Loan Officers (69%) hold a Bachelor's Degree. However, among employees in this occupation, there are also some with a College Course Certificate (13%) and an Associate's Degree (11%). In terms of experience, 40% of Loan Officer jobs require a 4 to 6 years of experience in the field. A smaller part of jobs (31%) require a previous experience of 2 to 4 years.

Loan Officer average salary

According to data from the US Bureau of Labor Statistics, the number of Loan Officers employed by the United States in 2021 was 340,170, and they earned a mean annual income of $80,570. The bottom 10 percent had a salary of $32,520 or less, and the top 10 percent had a salary of $138,310 or more. The average salary marks an increase of 4.7% compared the previous year.

Do Loan Officers make good money?

Loan Officers are usually paid well, as their average salary is 38% higher than the average salary in the United States ($58,260). Moreover, they earn 12% more than the average pay of the Credit Intermediation industry ($71,620).

Loan Officers are usually paid well, as their average salary is 38% higher than the average salary in the United States ($58,260).

Loan Officers job growth

There has been an increase in the employment of Loan Officers in the last two years. In 2021, there have been 31,470 more roles than the previous year nationwide, which marks a growth of 10.2%. Job growth has averaged 3.8% for the last 3 years.

Real Estate Sales Agent job description

Alternative names: Realtors, Property Managers

Real Estate Sales Agents rent, buy, or sell property for clients. Perform duties such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts. Includes agents who represent buyer.

Real Estate Sales Agent education and experience

43% of Real Estate Sales Agents have obtained a High School Diploma, 24% hold a Post-Secondary Certificate, and 10% have a Less than a High School Diploma. In terms of experience, over half Real Estate Sales Agent occupations require no previous experience. A smaller portion of roles (10%) require a previous experience of 2 to 4 years.

Real Estate Sales Agent average salary

According to data from the US Bureau of Labor Statistics, the number of Real Estate Sales Agents employed by the United States in 2021 was 175,920, and they earned an average of $61,480 per year. The bottom 10 percent had a salary of $28,270 or less, and the top 10 percent had a salary of $102,170 or more. The average salary has a decrease of 2.4% in comparison to the previous year.

Do Real Estate Sales Agents make good money?

Real Estate Sales Agents are typically paid well, since their mean salary is 6% above the average pay in the United States ($58,260). Moreover, they make 10% more than the mean salary of the Real Estate industry ($55,880).

Real Estate Sales Agents are typically paid well, since their mean salary is 6% above the average pay in the United States ($58,260).

Real Estate Sales Agents job growth

The hiring of Real Estate Sales Agents has risen in the last two years. In 2021, there have been 7,180 more job opportunities than the previous year across the nation, and that shows an increase of 4.3%. Job growth has averaged 3.9% over the past 3 years.

FAQ

Do Loan Officers or Real Estate Sales Agents make more?

The average earnings of Loan Officers are about a third higher than those of Real Estate Sales Agents. On average, Real Estate Sales Agents make $61,480 per year, while Loan Officers make $80,570.

How long does it take to become a Loan Officer vs Real Estate Sales Agent?

Loan Officers typically need a Bachelor's Degree. It usually takes around 4 years to complete a Bachelor's Degree. While on the other hand, Real Estate Sales Agents typically only need a High School Diploma.

Is it harder to become a Loan Officer vs Real Estate Sales Agent?

It is more difficult to become a Loan Officer than a Real Estate Sales Agent, since it takes 4 more years of education.