Dual licensing grows as agents and loan officers seek new income streams

A recent analysis by RETR identified 3,729 potential dual-licensed real estate agents and loan officers, as professionals look for additional revenue opportunities in a difficult housing market, HousingWire reported.

The analysis found that California accounted for 40% of these matches, with Florida, Texas, and Arizona included in the top four states representing nearly 71% of dual-licensed professionals, according to HousingWire.

RETR used name matching to identify agents whose top-producing loan officer shared their name but did not independently verify dual licensure or include those who hold both licenses but primarily work in one role, HousingWire noted.

Shawn McNeil, a broker/owner and loan officer, pursued both licenses to gain more control over clients' financing options after observing unfavorable interest rates from large lenders, HousingWire reported.

McNeil spends about half his time between real estate and loan origination, mostly serving friends and real estate investors, occasionally acting as both agent and lender in transactions, although he said this is uncommon, according to HousingWire.

He believes that more agents will seek mortgage loan officer licenses as market challenges persist and AI tools simplify mortgage research, HousingWire added.