As an independent contractor you get to decide when, how and where to complete your job within the laws governing your license. This also means that you are accountable for any necessary tools or equipment necessary to do your job. This is great for fellow San Diegans, if you choose to spend your day working at the beach then go right ahead!

Here are some of the things that you get to avoid as an independent contractor:

  • Set hours
  • Stuffy business clothes (yes, that means you can lay all day in your pjs if you want too)
  • Boring mandatory trainings
  • Specific job location
  • Staff Meetings (we all know how those can be a snore…)
  • A boss breathing down your neck


You get to be your own boss:

No need to ask your boss for the afternoon off to go see your daughter’s soccer game, your son’s play, or you just want a day to relax in one of San Diego’s amazing parks, you set your hours! As an independent contractor you get to decide when, how, and where to work. If you have a lot going on in your life and you need to work only a few hours a month or you are a workaholic and strive for the long work days, that is is okay! Working as an independent contractor is great for people who need flexibility or are not a fan of the office life.

More basis points = more commission

While how much commission you make is still based upon the size of the sale, working at big banks you will get fewer basis points. If you work at a big bank, like Bank of America or Wells Fargo, then you are typically awarded 65 basis points per loan. This means your commission on a $100,000 loan is $650. Then more money is then taken out for taxes are you are left with roughly $400. If you work as an independent contractor at a place like ROM Consultants then you may earn as much as 125 basis points. This means that on a loan of 1,000 you will receive $1,250. You are then responsible at the end of the year to do your taxes for that amount but you start off with a whole lot more!

You pay your own taxes BUT you get more tax benefits

As touched on above, taxes are different for employees and independent contractors. If you are an employee, than each paycheck your employer will withhold money from your paycheck for federal income taxes and social security. Those who are independent contractors are responsible for paying your own taxes. But there are benefits to doing so! As an independent contractor can benefit from business-related tax deductions. For example, you can deduct things such as travel, office, or magazine expenses. These tax benefits allow independent contractors to pay less tax than their employees who earn similar incomes.

No need to ask your boss for a raise:

While it can be scary to be in charge of your economic fate it is also liberating. If you want a bigger paycheck then go out and search for more listings or even raise your prices. When working at places like Wells Fargo you are limited to the clients that they bring you. As an independent contractor you can select as many clients as you can find. There is more good news! According to The Wall Street Journal, independent contractors are paid 20% to 40% more per hour than employees performing the same work.


Being an independent contractor just makes sense… If are a loan officer or a real estate agent and you live in the San Diego area and you agree then check out our website (you’re already there!), give us a call at (858) 633-7067, or email (for real estates email for loan officers email