Is it considered a conflict of interests to be a mortgage broker and real estate agent?
I’m looking to change careers and I would really like to make sure that when one is slow that I have the other to fall back on.
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not if you keep them separate no
It’s not a conflict, but they do go hand-in-hand, in terms of trends. In other words, if one is slow, so might the other be, too.
The key to eliminating any potential conflict of interest in any industry is proper written disclosures of your roles, interests and the customer/client’s options, with verification of delivery of such a disclosure. No one can stop you from being licensed and practicing in different professions at the same time.
Can you imagine saying that lawyers should not have the right to hold political office because they know more about the law than the common person and therefore can take advantage. (By the way I think the attempt to keep lawyers from holding office was attempted when the drafting of the constitution was being done)
Buena Suerte
In NY, it’s OK to do both but …
I think you’d be better off as ONLY a mortgage broker. “Why”? Because other real estate agents probably will not send you loans if you are a praticing agent. R.E. agents will be your #1 source of loans, don’t step on their toes.
Its not in NH but you should check with your state. I’m a Realtor and considered doing both also.
In my opinion, yes. But it’s done all the time. If you are going to do it disclose, disclose, disclose.