Top Answer
User Avatar
Wiki User
Answered 2008-02-20 20:18:43

As the old adage goes, that is like asking "How much does a car cost?" It depends. If you take an average during a huge refi boom, it may be lower, because so many people try to get on the gravy train and make very little. If you average only Brokers, you get a higher figure than if you include loan officers. I have been a broker for 15 years and make as much, generally, as I want to. If a broker actually works 40 hour weeks (as opposed to Surfing the net answering questions like these!) and is in a medium size market with about $125,000 average price for a home, they should be able to earn $6,000-10,000/month, BEFORE expenses. Marketing, office space and assistants eat up a lot of that in a hurry. A decent yellow pages ad runs over $1000/month. And believe me, folks still use the yellow pages. Net personal income probably averages $50,000/year. I have worked with Brokers in three states, and there are lots more making $40,000-50,000 than there are making $100,000+. I currently work in a market like this, but have also worked in a slow resort market and in Denver - a huge market with much higher prices. My income in every instance has been a direct reflection of how hard I worked and how hard I marketed my service. It is not a result of inflating prices or loan fees. There are lots of folks out there who do that but I really believe they make a quick set of big bucks and move on to something else where they can rob people. It is one of the few jobs where you really see a reflection of how hard you work in your income, but it is a witch of a way to make a living. I probably would not want my kids to do it. I have to accept responsibility for the mistakes of too many "unseen" people in the process and it gets harder as time goes on. People might get a couple of mortgages in their lifetime and they are usually scared - even otherwise sophisticated investors are nervous. They react emotionally to everything and you cannot blame them. My job is to get the work done as seamlessly as possible, without any problems becoming apparent to the Borrower yet keep them fully in the loop and informed. It is a delicate tightrope to walk and no one does it perfectly each time. If you have a high tolerance for pressure and want complete control of your life, go for it.

User Avatar

Your Answer

Related Questions

They usually earn anywhere from 35%-75% of each loan transaction. In dollar amount you can potentially make anywhere from $1,500 up to $5,000 for each loan transaction.

The amount a Forex Broker can earn varies from state to state and company to company. However, to give you an idea of the income a Forex Broker can make. In New York, on average a Forex Broker will make $69,000 a year.

With scalping system, but must choose right broker to do that

There is no average amount of money a certain breed of horse will earn. Some earn more than others and some earn nothing at all.

The average Brazilian works to earn money

for a average person in Belize they earn about $200 a week.

Customs brokers in Georgia make around 50 dollars an hour. This is in between the national average pay for customs brokers.

An energy broker is a person who helps educate and assist consumers, both homeowners and business owners, in choosing a low cost electric supplier in deregulated states. The broker is a go-between the consumer and the the electric suppliers. When a consumer you helped switches their electric through you, the broker, you earn income. Brokers can also earn money by recruiting new energy brokers. Being an energy broker gives you the opportunity to earn residual income, help people save and/or make money, own your own business and the freedom to work from home at your choosing.

Beauticians earn a average salary of $31,000 a year.

they earn average of $8.00 an hour up to $10.00 an hor

Realtors earn anywhere from 25,000 dollars a year to millions of dollars a year for high listings. They typically earn 3 percent of every sale and 3 percent if they are a buyers broker.

The amount of money that a project coordinator will earn will vary depending on the type of project and the industry. On average, they will earn about $40,000 per year.

Doctors earn quite a lot of money. it depends on what kind of doctor or nurse you are. For a surgeon you can earn to a maximum of 195,000. Which i squite alot of money...

The top player's earn about £120,000 a week and a average premier ship players earn about £50-£60,000 a week.

Every Stockbroker has his/her own personal portfolio of companies that they target to earn you money. You can opt to have your broker look at specific companies and invest in them, or you can invest an amount of money into every holding of a particular portfolio this is investing shares throughout the broker.

They earn on average between £100 and £700 per week They earn on average between £100 and £700 per week They earn on average between £100 and £700 per week They earn on average between £100 and £700 per week

Approx. average $157,000 average approx $157,000

The average is $100,000/year

On average anywhere from 120,000 to 300,000

philosophers average salary $85,000

Copyright © 2021 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.