Dual Licensed Realtor MLO: The Smart Way to Buy a Home

Quick Answer: Dual Licensed Realtor MLO

A dual licensed Realtor MLO is licensed to help you buy a home and originate your mortgage in one streamlined process. It can save time, reduce miscommunication, and speed up pre-approval—especially for buyers with credit or income complexity. The tradeoff is that you must understand disclosures, compensation, and potential conflicts of interest before you commit.

What You’ll Learn

• What a dual licensed Realtor + Mortgage Loan Originator (MLO) actually is (and what they’re allowed to do)
• Using one person for both roles can speed up pre-approval and closing
• The required paperwork and disclosures you should expect before touring homes
• How buyer-agent compensation works today and what to look for in a buyer-broker agreement
• The biggest pros and cons, including potential conflicts of interest, and how to protect yourself
• Key questions to ask to confirm you’re getting multiple loan options and transparent fees
• A simple checklist to decide whether a dual licensed Realtor MLO—or separate pros—is best for your situation

Is a Dual Licensed Realtor MLO Legal in My State?

In a lot of states, you can have both a real estate license and a mortgage loan originator (MLO) license, but the way you can work on a single deal depends on the state and the rules of your brokerage. The safest way to confirm is to:

• Verify the person’s MLO license on NMLS Consumer Access (and confirm they’re licensed in your state).
• Ask which brokerage they’re operating under for real estate services and which lender/company they’re originating through.
• Confirm whether your state allows (or restricts) certain arrangements like dual agency (representing both buyer and seller) and whether extra disclosures are required.

Bottom line: Dual-licensed professionals can be legitimate—but you should expect more paperwork and clearer disclosures to protect you.

Required Disclosures You Should Expect

When one person is involved in both real estate representation and mortgage origination, you should receive clear written disclosures that explain who they represent, how they’re paid, and whether they benefit from referring you to related companies.

1) Agency Disclosure (Who they represent)

Most states require agents to disclose whether they represent the buyer, the seller, or both (where permitted) and what that means for your interests and confidentiality.

What to look for:

• “Buyer’s agent” vs “seller’s agent” vs “dual agency” (if allowed)
• How confidentiality works
• What duties do they owe you (loyalty, disclosure, care)

2) Compensation Disclosure (How they get paid)

You should understand—in writing—how the agent is compensated (flat fee, percentage, or another structure) and who pays it (buyer, seller, or both, depending on negotiation).

What to ask:

• “What am I agreeing to pay if the seller doesn’t cover buyer-agent compensation?”
• “Is your mortgage compensation separate from your real estate compensation?”

3) Affiliated Business Arrangement (AfBA) Disclosure (If they refer you to a related company)

If your agent refers you to a settlement service provider they have an ownership/financial relationship with (like a lender, title company, or appraisal management company), federal rules require a written affiliated business arrangement disclosure. It must state that you are not required to use that provider.

What to look for:

• The nature of the relationship
• Estimated charges or a range of charges
• A clear statement: you can shop and choose another provider

4) “No Required Use” + Your Right to Shop

Even when referrals occur, you should generally be reminded that you can shop for your lender and other settlement services (unless a specific program has restrictions). AfBA rules specifically require that you’re not forced to use the affiliated provider.

How You’re Protected From Conflicts of Interest

A dual licensed Realtor MLO can still be a great option—but you should set guardrails upfront:

• Ask for a side-by-side loan comparison (rate, APR, points/credits, fees, and monthly payment)
• Ask: “Will you show me more than one lender/program option?”

How a Dual Licensed Realtor MLO Can Help Homebuyers

Working with a dual licensed realtor MLO can simplify the process by giving you one central point of contact. Their services often include:

• Helping you shop for homes that fit your budget.
• Running property value comparisons and giving market insights.
• Explaining mortgage options based on your income, credit, and goals.
• Submitting your loan application.
• Issuing pre-approval letters so you can make strong offers.
• Coordinating escrow, title, and closing.
• Guiding you through disclosures, inspections, and final loan documents.

A dual licensed realtor MLO can feel like a one-stop shop for buyers who want everything managed in one place.

How Realtor Commissions Work (Updated for 2026)

As of February 6, 2026: Real estate commissions and broker fees can be negotiated and will vary based on your state, the brokerage you’re working with, and the contracts you sign.

What Changed After the NAR Settlement

Beginning August 17, 2024, many MLSs implemented practice changes tied to the NAR settlement, including:

• Buyer representation agreements are required for MLS participants working with buyers before touring homes in many cases (exact rules and exceptions can vary by MLS and state/local practice).
• Offers of compensation are no longer displayed on the MLS in MLSs that adopted the changes—meaning compensation is often discussed and negotiated off-MLS.

Who Pays the Buyer’s Agent Now?

There isn’t one nationwide answer. In many transactions, the seller may still effectively cover some or all of the buyer-agent compensation—often through negotiations, seller concessions, or the structure of the offer. In other cases, the buyer may agree to pay some or all of the fee directly. The key is to spell it out clearly in writing.

What You Should Look for in Your Buyer Broker Agreement

Before you tour homes, ask your agent to walk you through these items in your agreement:

• How the agent is compensated (flat fee, percentage, or another structure)
• Who pays it (buyer, seller, or a mix—depending on negotiation)
• Whether the agreement limits the agent from accepting compensation above what you agreed to
• The cancellation terms and what happens if you switch lenders/agents mid-transaction

Quick Takeaway

Commissions didn’t “disappear”—they became more transparent and more negotiable. The safest approach is simple: read the buyer-broker agreement carefully, ask how compensation works in your market, and get everything in writing before you start touring homes.

Pros and Cons of Working With a Dual Licensed Realtor MLO

A dual licensed Realtor MLO can be a great fit for some buyers—but it’s smartest when you understand both the upside and the guardrails.

Pros

1. Convenience (one point of contact): You’re coordinating showings, offers, and financing with one person—less back-and-forth and fewer “telephone game” mistakes.
2. Faster pre-approval and stronger offers: Because they can handle both sides, you can often get updated pre-approval letters quickly when you need to adjust offer price, terms, or timelines.
3. Better alignment between home search and budget: A dual licensed pro can help you avoid looking at homes that don’t fit your true payment range once taxes, insurance, HOA dues, and program requirements are factored in.
4. Smoother coordination to closing: One person can help keep timelines tight with escrow/title, inspections, and lender documentation—especially helpful if your closing date is aggressive.

Cons (and how to protect yourself)

• Potential conflict of interest: One person may benefit from both the real estate and mortgage sides, which may make buyers worry that the advice is not fully objective.
  • Guardrail: Ask for everything in writing—agency role, compensation, and any affiliated business relationships.
• One-person bottleneck risk: If your dual licensed pro is overloaded, you may experience slower communication, slower updates, or delays because both the home search and loan workflow depend on one person.
  • Guardrail: Ask who supports them (processor/assistant/team) and what response times you should expect.
• Harder to get a second opinion: With one person handling both roles, you may be less likely to compare strategies (offer terms, pricing, lender options, program fit).
  • Guardrail: Commit upfront to reviewing at least two loan options side-by-side.
• Limited loan comparisons unless requested: Some dual-licensed pros can focus on a single lender or a narrow set of programs unless you ask for comparisons.
  • Guardrail: Request a fee worksheet/Loan Estimate-style breakdown and a side-by-side comparison of at least two options (rate/APR, points/credits, lender fees, and estimated monthly payment).

Dual Licensed Realtor MLO vs. Separate Realtor + Loan Officer

Feature	Dual Licensed Realtor MLO	Separate Realtor & Loan Officer
Convenience	One point of contact	Two different people
Speed	Faster pre-approvals	May take longer
Objectivity	Possible conflict of interest	Independent roles
Cost	May save fees (not guaranteed)	Standard split commissions
Expertise	Knowledge of both markets & loans	Each specializes in one area

Bottom line: A dual licensed realtor MLO offers speed and simplicity, while two separate professionals may provide more checks and balances.

Note: Savings depend on how compensation is structured and what lender fees/credits apply.

What Paperwork to Expect

When you decide to work with a dual licensed realtor MLO, you’ll likely be asked to sign:

• A Buyer’s Broker Agreement (exclusive or non-exclusive).
• An Agency Disclosure that explains their role.
• A Loan Application through the NMLS system.

Read all agreements carefully and ask questions before signing. Also, make sure you understand the cancellation terms in case the relationship doesn’t work out.

What to Expect at Open Houses and Showings

If you attend an open house without your dual licensed realtor MLO, always hand the listing agent your agent’s business card. This avoids confusion about representation. Let your agent handle negotiations—direct contact with the listing agent could create conflicts.

Case Study: How Borrowers Benefit

A recent first-time homebuyer came to Gustan Cho Associates after being told by another lender that their file “wouldn’t work.” Their credit wasn’t perfect, they had a few recent late payments, and their debt-to-income ratio was tight—so they were worried they’d miss out on homes in their price range.

The challenge: They needed a realistic budget fast, a strong pre-approval letter to make offers, and a clear plan for the documentation required to satisfy underwriting—without running in circles between a Realtor and a separate loan officer.

What we did: We connected them with a dual licensed Realtor MLO who could manage both the home search strategy and the financing workflow. The dual-licensed pro:

• Reviewed income, debts, and credit patterns to identify a loan path that fits the borrower’s profile
• Set a clear “maximum monthly payment” target so the home search stayed within a safe range
• Collected documents early (pay stubs, W-2s, bank statements, and explanations where needed) to reduce last-minute surprises
• Issued updated pre-approval letters quickly as the borrower adjusted offer terms and price points
• Coordinated timelines with escrow/title so the buyer stayed on track for closing

The result: The buyer could shop with confidence, make a competitive offer, and move through the mortgage process with fewer delays because the real estate and lending steps were coordinated from the start. Results vary by borrower and program, but the most significant benefit was clarity and speed—without the back-and-forth between two separate professionals.

Final Thoughts

Working with a dual licensed realtor MLO can be a smart move if you want convenience, speed, and a simplified process. You’ll have one expert guiding you from home search to closing. However, it’s important to understand commission changes, ask about potential conflicts of interest, and compare options before deciding.

At Gustan Cho Associates, we partner with trusted dual licensed realtor MLOs who know both real estate and mortgages inside out. Whether you have perfect credit or past challenges, we close loans that other lenders can’t.

Call us at 800-900-8569, text us for a faster response, or email us at alex@gustancho.com to connect with a dual licensed realtor MLO today.

Frequently Asked Questions About Dual Licensed Realtor MLO:

Can a Realtor Also be a Mortgage Loan Officer?

Yes—many professionals hold both a real estate license and an NMLS mortgage loan originator (MLO) license. Whether they can act in both roles on the same transaction depends on state rules, brokerage policy, and lender/program restrictions, so it’s smart to confirm upfront.

Is it Legal in My State to Use a Dual Licensed Realtor MLO?

In many states, it’s allowed to hold both licenses, but how it’s handled (disclosures, agency rules, and permitted “dual role” activity) can vary. You can verify MLO licensing and state authorization using NMLS Consumer Access.

Is There a Conflict of Interest Using a Realtor Who is Also the Loan Officer?

It can be, because one person may benefit from both the real estate compensation and the mortgage compensation. That doesn’t automatically mean it’s a bad choice—but you should set guardrails: clear disclosures, transparent compensation terms, and side-by-side loan comparisons.

What Disclosures Should I Receive When One Person is Both a Realtor and an MLO?

Expect written disclosures that clarify agency/representation, how the agent is paid, and—if you’re referred to a related lender/title/settlement company—an Affiliated Business Arrangement disclosure (and confirmation you’re not required to use that provider).

Do I Still Need a Separate Loan Officer if My Realtor is Also an MLO?

Usually, you may not need a separate loan officer—because the MLO can originate the loan—but you’ll still work with a lending team (processor/underwriter) depending on the lender. The key is making sure you still get comparison options and a clear fee breakdown.

Will a Dual Licensed Realtor MLO Give Me Fewer Loan Options?

They can—mainly if they originate through one lender or a limited channel—unless you ask for comparisons. A simple safeguard is requesting at least two options side-by-side (rate/APR, points/credits, lender fees, and estimated payment).

Can a Dual Licensed Realtor MLO Represent Both the Buyer and the Seller, Too?

That enters “dual agency” territory, and rules vary by state. Even when allowed, it can reduce the advocacy you receive. If you’re considering it, ask exactly who the agent represents and what duties they owe you in writing.

Do I have to Sign a Buyer Representation Agreement Before Touring Homes?

In many markets (primarily where MLS rules reflect post-settlement practice changes), buyers are asked to sign a written buyer agreement before touring a home with an agent. Rules and exceptions vary by state/MLS, but you should expect this conversation early.

How Does a Dual Licensed Realtor MLO Get Paid?

Compensation is typically addressed in writing and can include: (1) real estate compensation for representation and (2) mortgage compensation for originating the loan (depending on the lender/channel). What matters most is that you understand the terms and who pays what before you move forward.

Should I Use a Dual Licensed Realtor MLO or Keep Realtor and Loan Officer Separate?

Choose a dual licensed pro if you value speed, fewer handoffs, and one point of contact. Choose separate professionals if you want built-in checks and balances and easier “second opinions.” Either way, protect yourself by demanding transparent disclosures and comparing loan options.

This blog about “Working With Real Estate Agents Who Are NMLS Licensed MLO” was updated on February 5th, 2026.