A recent analysis by RETR identified 3,729 professionals who hold both real estate agent and mortgage loan officer licenses, with matching names suggesting dual practice. California accounts for 40% of these matches, and the top four states (California, Florida, Texas, and Arizona) represent nearly 71% of dual-licensed professionals. The analysis relies on name matching and does not independently verify licensure.
Shawn McNeil, broker/owner of HomeFlo and loan officer for Mpire Financial Group, pursued dual licensing after nine years in real estate to give clients better financing options. He obtained his mortgage license about 18 months ago after watching clients turn to large lenders and receive unfavorable rates. McNeil splits his time roughly 50/50 between real estate and loan origination, drawing most business from friends and real estate investors. He occasionally serves as both agent and lender but refers borrowers to other lenders when his mortgage company cannot serve them.
McNeil said he worked with legal counsel to establish disclosures that inform all brokerage clients he holds both licenses and owns the firm. Clients receive these disclosures electronically before a transaction goes under contract.
McNeil expects more agents will pursue MLO licenses as market conditions remain difficult and AI tools make it easier to research mortgage guidelines. He believes agents will increasingly realize that loan origination duties are becoming easier from a guideline standpoint. Dual licensing requires attention to compensation arrangements, RESPA rules, state licensing rules, and loan program restrictions.
The RETR analysis does not establish whether dual licensing is becoming more common or measure profitability.