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Rural Appraiser - new 3.6 UAD issues

I am unaware of any state requiring a degree for RE agents.
Some RE agents and loan officers are ethical and are responsible professionals.
However, IMO most are borderline in that area - they have to be to make $- the the top agents and loan officers, the high volume producers are hustlers, borderline con artists, charismatic, hard workers and yes but essentially a different breed.
We had some highly intelligent Realtors that worked for us. Like any profession less than 20% are winners. But I would pit our best Realtors any day against our average residential appraisers we employed when it came to overall smarts and job market ability.
 
We had some highly intelligent Realtors that worked for us. Like any profession less than 20% are winners. But I would pit our best Realtors any day against our average residential appraisers we employed when it came to overall smarts and job market ability.
RE agents can be smart and typically have good social skills.

But their role and the role of the appraiser are polar opposites. I have nothing against RE agents, I used to be one for five years prior to appraising.
 
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Good Lord. I will give you that loan officers are hustlers, but give me a break on the rest of it. You can pull a random guy off the street today and he’s a loan officer tomorrow.

it is hard to believe he is on an appraiser forum... :rof:
 
most are borderline in that area -
Non-secondary market banks do not pay on the basis of commission. They pay bonus if the loan department makes money. LOs who lose money are fired. I can name no small number of people who of loan officers who were let go for failing to make souind loans and I know several called out by the FDIC for not doing "safe and sound" lending. Mortgage brokers are not loan officers of a bank. They are loan originators.

While a degree isn't mandatory for becoming a broker, some states might allow a bachelor's degree to substitute for a certain amount of experience or training.
Specialized or senior roles in banks are not state required to have a degree but such activities as financial manager or investment banker often require a bachelor's or master's degree in a relevant field like finance, accounting, or business, along with several years of experience. Certain banking activities, such as mortgage loan origination, require licensure and registration through the Nationwide Multistate Licensing System (NMLS), according to www.csbs.org. Selling stocks, bonds, and other investment instruments requires obtaining relevant securities licenses (like Series 6 or 7) from the Financial Industry Regulatory Authority
 
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