Idea for Free service

[MarkShidler]

Is it possible to become a realtor and a mortgage broker at the same time. I could give the realtor services for free as long as they get a loan through me. Is that legal or is it some sort of conflict of interest. thanks, Mark

[Jim Erickson]

Depends on if your real estate broker does not mind giving clients free services.

[Rich@vtws]

Hi Mark...if you were to create this as a business model....somehow I don't think you'll be real popular at the annual Realtor Picnic

[ResaleBroker]

Hi Mark,

It is not uncommon for a mortgage broker to hold a real estate license too. It makes sense if you know what you are doing. I do this myself and have for many years.

Giving up one side to get the other is also not uncommon. That's not an angle I take but there are many who do.

If you decide to go this route, I would strongly caution you to get crystal clear on what you can and cannot do. Then, walk a straight line.

Good Luck!

[glenng]

Hi Mark,

I hold both mortgage broker and real estate broker licenses - so I am able to get both commissions. I disclose heavily to the client in writing, so that I have a separate disclosure in the real estate file and one in the mortgage file.

My background, is probably a lot different than most in the business, due to the finance, accounting background and heavy family real estate investing before getting into the real estate business professionally. There is a learning curve. My suggestion to someone is to master one and then move into the other - if they don't have a strong background in either one.

[IGotRealEstate]

Mark... I also write my own loans.. the key is disclosure.. the buyer has to feel that they have options and can't feel that they were forced or even presseured to use you.. but by offering the best rates gives them no reason not to use you..