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Can you be a MLO and real estate agent at the same time?

It is possible to hold both a mortgage license and a real estate license at the same time. Some agents simply hold their mortgage license, and others use it to supplement their real estate career.

Can I be a real estate agent and have another job?

The short answer is yes, absolutely. One of the many advantages to becoming a real estate agent is the freedom to make your own schedule to fit around your life, not the other way around.

Can you be a realtor and loan officer?

Equity Smart is uniquely positioned to recruit these agents because Californias Department of Real Estate (DRE) is the only state agency that requires MLOs to also be licensed as real estate agents. That means agents licensed through the DRE automatically qualify for dual-licensing.

When must the Colorado dual status disclosure form be used?

The Colorado Dual Status Disclosure form shall be completed, disclosed, and provided to the borrower within three (3) business days after receipt of a loan application or any moneys from a borrower.

Can a broker represent both buyer and seller?

This disclosure must outline the potential conflicts of interest and the implications of dual agency. Informed Consent Both parties involved in a dual agency transaction must provide their informed written consent for the arrangement to proceed. Without this consent, an agent cannot represent both sides.

Can a real estate broker represent both buyer and seller?

Quick Summary of Californias Dual Agency Laws So if youre wondering can a realtor represent both buyer and seller, the answer is yes - if both parties agree. California law also requires that your relationship with your broker must be confirmed in writing, and thats true for dual agents as well.

Is it ethical to act as a dual agent?

Disadvantages and ethical concerns Conflict of interest: This is the primary concern with dual agency. Agents have a fiduciary duty to act in the best interest of their clients. But in dual agency situations, the agent cannot fully advocate for both parties simultaneously.

Can you be an MLO and realtor?

With the right education, testing, and licensure, most professionals from either industry can offer a streamlined, one-stop-shop experience by becoming both a real estate agent and Mortgage Loan Officer.

Can a person act as an agent for both the seller and the buyer?

Is it possible for an agent to represent both sides of a transaction? Agents can act as a dual agent. But you need to have the consent of both parties in writing beforehand, and the agent has to become a neutral party representing both clients, says Mikel DeFrancesco, a top-ranked broker in Quincy, Massachusetts.

Is using a dual agent a good idea?

Dual agency is fine as long as you recognize the agent is primarily working to get the deal closed (and in this case, also the sellers interests), and doesnt care about your best interests. So theyll help make sure your financing goes through, but wont stop you from taking on a money pit house.

DUAL STATUS DISCLOSURE (REAL ESTATE BROKER AND MORTGAGE 2025

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