Long and Foster partnership with Prosperity Mortgage

So I heard something interesting today I was not aware of. A friend’s son just got his realtor license (very young only 22) and got a job with a local Long and Foster. I was telling him how it’s probably going to be tough initially, and he might want to find a job on the lending side to gain experience/knowledge while he gets his feet under him. When I was working on the mortgage side of things we had 10 agents on our sales floor who were also realtors. No real conflict of interest.

So then he goes on to tell me that Long and Foster has basically it’s own in house lender in Prosperity. Like literally someone in the office. He was not sure how that would work, and it got me thinking what their reaction would be if he told them he wanted to do loans at same time. I’m guessing it would be a “hell no” because they are obviously trying to steer clients to Prosperity. I’m also guessing at his age he doesn’t want to rock the boat, but honestly I would not work there if they tried to limit my advancement/earnings potential in that way. I mean at 22 good luck drawing any type of solid income/listings just starting out. Writing loans as well would be perfect compliment and like I said I knew a lot of (very experienced) agents doing it all the time. So what say you about this arrangement and how it could affect outside income/opportunities?? Would be interested to hear what some active realtors think. I understand why Long and Foster would try to do it with how tough business is getting, but I just think it is a bad deal for agents looking to expand their knowledge/income.

submitted by /u/NBH78
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So I heard something interesting today I was not aware of. A friend’s son just got his realtor license (very young only 22) and got a job with a local Long and Foster. I was telling him how it’s probably going to be tough initially, and he might want to find a job on the lending side to gain experience/knowledge while he gets his feet under him. When I was working on the mortgage side of things we had 10 agents on our sales floor who were also realtors. No real conflict of interest. So then he goes on to tell me that Long and Foster has basically it’s own in house lender in Prosperity. Like literally someone in the office. He was not sure how that would work, and it got me thinking what their reaction would be if he told them he wanted to do loans at same time. I’m guessing it would be a “hell no” because they are obviously trying to steer clients to Prosperity. I’m also guessing at his age he doesn’t want to rock the boat, but honestly I would not work there if they tried to limit my advancement/earnings potential in that way. I mean at 22 good luck drawing any type of solid income/listings just starting out. Writing loans as well would be perfect compliment and like I said I knew a lot of (very experienced) agents doing it all the time. So what say you about this arrangement and how it could affect outside income/opportunities?? Would be interested to hear what some active realtors think. I understand why Long and Foster would try to do it with how tough business is getting, but I just think it is a bad deal for agents looking to expand their knowledge/income. submitted by /u/NBH78 [link] [comments]

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