Could dual licensing grow as agents, LOs seek revenue opportunities?

As mortgage companies and real estate brokerage look for additional revenue to combat difficult housing market conditions, dual licensing offers professionals a way to earn income through the tasks of selling a home and originating a mortgage. A recently published analysis by RETR identified 3,729 matches between real estate agents and mortgage loan officers in which the agent’s top loan officer shared the agent’s name. California accounted for 40% of these matches, while the top four states (which also include Florida, Texas and Arizona) represented nearly 71% of dual-licensed professionals. RETR used name matching to identify agents whose top-producing loan officer shared their name. But the analysis does not independently verify dual licensure, and it excludes professionals who hold both licenses but do not originate mortgages for their own clients or primarily work in one role. Potential area of growth? For Shawn McNeil, the broker/owner of HomeFlo and a loan officer for Mpire Financial Group, the decision to pursue both licenses came from wanting more control over his clients’ financing options. After nine years in real estate, McNeil obtained his MLO license about 18 months a...