Real Estate Agent vs Lender vs Mortgage Broker: First

Primary Focus	Main Task	Who They Represent	How They Are Paid	Best Time to Contact
Real Estate Agent	Helping you find and purchase a home within your budget and preferences.	Homebuyer	Typically receives a commission (usually 5-6%) from the seller upon closing.	After deciding on a neighborhood or house, before getting pre-approved for a mortgage.
Mortgage Lender	Providing home loans to qualified buyers.	Lender (usually banks or credit unions)	Charges interest on the loan and may require origination fees.	After finding a house you want to buy, before finalizing the purchase agreement.
Mortgage Broker	Serving as a go-between for homebuyers and lenders to help secure financing options.	Homebuyer or Lender	Typically receives a commission (usually 1-2%) from the lender.	If you have complex financial circumstances, shopping for better loan terms, or need multiple loan offers.

Who should you talk to first?

First, focus on getting pre-approved for a mortgage. This will help determine your budget and make you a more attractive buyer to real estate agents and sellers.

Once pre-approved, it’s essential to work with an experienced real estate agent who can guide you through the buying process and help you find the perfect home.

If you have complex financial circumstances or need multiple loan offers, consider working with a mortgage broker to explore your financing options.

Disclaimer

Compensation for real estate agents, lenders, and mortgage brokers may vary depending on factors such as geographic location and individual agreements. Always consult with a trusted professional before making financial decisions.