Excuse me for a moment, it’s hard to type with this suit of armor I have on. You see after some agents see this I may be on the hit list of a number of them. However, don’t worry too much. If they are as proficient at hitting a target as they are at being real estate agents, I shouldn’t have much of a problem.
Now before I begin, let me make the requisite disclaimers:
1. If you hired an agent either as a buyer or a seller and the agent disclosed to you in advance that they were only working part-time then this article may not apply.
2. If the agent you hired announced that they were only working part time and has other agents that service you while they are working at their other job, then this article may not apply.
3. If your agent is a friend of the family or is someone you have worked with in the past and has reduced their hours down to part time status and you are aware and ok with that, then this article does not apply.
On the other hand, as many of my newer clients have found, that the agent you hired did NOT disclose that they were working the first shift at Walmart and could not take calls about your property until after they completed their shift, then that’s where I have a problem.
While real estate may be a business that can be done on a part-time basis, why are so many working part-time, not disclosing this information to their clients yet still charging full price? I feel this hurts our credibility and is basically dishonest.
Personally, I feel that real estate is NOT something that can be done on a part-time basis… especially in these economic times.
Here are several reasons that I feel it is not prudent to use a part-time real estate agent:
1. Who is answering the phone? When someone calls on your property is there going to be someone there to answer? Think so? Go ahead and try it. In fact you should be calling your agent at least twice per day to see if anyone answers. Also have a friend call about your house and see how long it takes to get a return call. What’s the old saying? Time is Money..yeah that’s it. When you are trying to sell your house do you think the buyer or buyer’s agent is going to sit around waiting for your agent or perhaps is there a ton of inventory for the buyer to choose from?
An agent should be focused on selling your home, not pricing marshmallows on aisle 7! You have every right to ask the real estate agent if they are part-time or full time.
If an agent says they can work part time and fulfill your needs for your real estate transactions, then ask them why they need a second job? If they are successful at what they are doing then they wouldn’t need to be stocking shelves with toilet paper.We all know why someone needs a second job. It means that their primary source of revenue is not sufficient to pay the bills. If they need a second job to pay the bills at home where do you think your home falls in the priority line.
Don’t let the sale of your home or the purchase of your home be a lottery ticket for a sub par real estate agent!
2. What’s Their Priority?As mentioned above,if they have to work a second or third job and did not disclose it to you it was because they did not want you to know. Why didn’t they want you to know? There’s only one reason. It means they are not successful. If they are not successful, then what is their priority. Does a call from a client take precedence over refilling the aquarium tanks? Which scale take precedence?
If you want an open house or want some marketing done is it second to your home selling or buying process. Has working at 7-11 actually become their 1st job?
That’s one of the HUGE problems. They say they are taking a “second” job when in reality they have just taken a “first” or primary position and guess whose home selling or home buying process has been rendered secondary in importance?
3. Funds To Actually Be In Business!I bet when you spoke to the agent that you hired that they said they had this great marketing program. They were going to put your house in front of millions of people and there would be ads galore. Well if your agent is learning how to work the Fryolator because they are not making any money actually selling or helping buy any property, and they need another job to make ends meet, how are they going to pay for the marketing of your home?
The longer your home sits on the market un-promoted and the more homes you miss out on as a buyer because your agent is indisposed, the more opportunity or money you are losing.
4. Educational Deficiencies.If the agent you hired can’t afford to educate themselves on the latest technologies or can’t afford either the money or time to further their continuing training, then you will be dealing with an agent who is not capable of servicing your needs in the most proficient manner.
Do you realize that less than 3% of all agents have a website or blog and that fewer still have any idea as to how to utilize the computer in a manner that is advantageous to you as a buyer or seller?
In these times of economic hardship, there are many who are finding themselves in need of a short sale proficient realtor…do you really think the guy working the drive thru window at Burger King is going to be someone who can expertly handle your short sale in a timely fashion? Don’t kid yourself. Most full-time Realtors are struggling with their ongoing training in regards to distressed properties. A part-timer is toast!
5. Timing Issues. What happens when you have a showing scheduled right smack in the middle of the lunch rush at Red Lobster? Do you think the part-time agent has the flexibility in their schedule to simply leave work and go play realtor? Well, I doubt it, but I could be wrong. If the agent doesn’t show up for showings and can’t be there when YOU need them to be what’s the point in using that agent. Yes, charity starts at home. I just didn’t know it started with YOUR home.
6. Locked In Exclusivity. Do you have the proverbial pay me now or pay me later arrangement with your realtor? I mean when you find out that John is the king of Grande Latte over at Starbucks and you want to fire him, are you sure you can? Most agents, even part-timers, usually lock you in.
So not only are you beholden to a part-time agent, you are stuck paying him whether he shows up or not. Read your agreement carefully. There basically is no performance metrics that he has to meet. This is what allows the PT agent to run this game. The agreement doesn’t hold him to any specific accountability. Gotcha!
Make sure you ask for and put in writing that you want an agreement that you can cancel at your discretion. I call that PT Deterrent. Works great on a lot of sub-par full timers too!
The average real estate agent does less than 2 transactions all year. It is clear from an economic perspective that the majority of real estate agents do not earn enough from this business to survive.
If your doctor worked at Jiffy Lube or your attorney worked at Subway, how much confidence would you have in their ability as a professional in their chosen line of business? would you want them working on your next surgery or lawsuit?
Of course not! So why are so many people entrusting what is arguably their single, most valued possession to the guy running the ride at Space Mountain?
Doesn’t make much sense does it?
The National Association of Realtors is basically a union. They don’t necessarily seek to look out for your best interests. If they did they would do more to warn the general public about the part time real estate agent. I think it’s a shame and causes those of us who do seek to provide exceptional service on a full-time basis a black eye.
Do yourself a favor and begin asking questions and demanding answers. Some in writing. And do it now because you’ll never know if the realtor you hire may be the same guy seating you at the movie theater this evening.
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Why do you assume that all part time agents have dead end jobs? If I told you I was running a large company as a general manager and doing real estate on the side what would you say? I enjoy both jobs and have the capacity to do both at full service to my employees and or my clients. I am not worried about bills mam.
Hi Bob..I really don’t have a problem with you working two jobs. My point is that if you are “doing real estate on the side” then I assume that you tell all of your clients that you are moonlighting and that they can expect that you are only available for X hours on X days and that you will not be devoting your full efforts into selling their home.
If you tell your clients that and they are okay with it then fine! If they agree to work with you then it’s on them. go for it. However, I know for a fact that most agents who work other jobs don’t tell their clients the truth about those kinds of things.
By the way, if you are the General Manager running a large company with several employees under neath him, which I assume is a full-time job, why would you want to be a real estate agent, and unless you have a cape with a big S on it, how can you be doing both jobs?
I guess you could if your boss allows you to conduct real estate business while you are at your general manager’s position. Do they know you work on your real estate business while you are “running a large company”?
Something doesn’t seem to add up to what you are saying, but heck, if your large company boss doesn’t mind, and your real estate clients don’t mind then you have hit the motherload.
You’re most assuredly the exception. Good luck!
Sir,
I am a Senior Quality Engineer with a Bachelors Degree in Industrial Engineering and a MBA. Based off my credentials, I am more than capable of servicing my customers; however, becoming a full time real estate agent will in no way replace my current salary.
What do you have to say about that? I am definitely not stocking shelves at Wal-Mart but is seriously interested in making real estate my full time career.
Congratulations! Question…if you are a full-time Engineer, can you tell me how specifically you’ll be able to “service” your customers? I would love to know that. As I’m sure your prospective customers would as well. Buying a home is the single largest purchase most people will make in their lifetime, so I’d really love to know how you would explain to me (pretend I’m a prospect) how you intend on “servicing” my needs full time.
I’d love to hear this.
Oh my, Mr. Cunningham! My sister is a part time agent and has been very successful in both of her careers. I am also thinking about becoming an agent and am too very successful in my day job as a business analyst for the federal government. 23, single, with no children, and the energy / drive to work many hours, I don’t see why not. Furthermore, some full time jobs like mine allow flexibility. So, if I want, I can show homes during the weekdays or take care of other business as needed.
Some people do it for the challenge and a change of pace. I want to do it because real estate has always been a interest of mine. In addition, I went to school full time as well as worked full time concurrently for many years. However, it never stopped my promotions or me graduating at the top of my class. Everyone’s situations are different and working 70+ hrs. a week is the norm for some.
Overall, with motivation and a little flexibility, I have no doubt one could be a great agent. Seeing is believing… I have seen. But I appreciate your input.
Go for it! I don’t have any problem whatsoever with people being part-time agents. I’m pretty sure what I was pointing out was that As long as the client understands then go for it. That’s where the problem is. In disclosure. I’d like to see it mandatory that it be disclosed to the homeowner that your full-time job is “X” and that one moonlights as a realtor. Then if the homeowner is cool with it, then I surely have no problem with it.
But we both know that’s not a likely disclosure by most who opt to moonlight as realtors.
Great article! I have heard complaints about part time realtors not returning phone calls in a timely manner, getting paperwork done, etc. As a realtor, my day is spent researching properties online, viewing the inventory in person, communicating, education, showings, offers and negotiations. How anyone can do that while having a full time job is beyond me. This career – and that’s what it is – a career is more than full time already! Realtors need to be highly educated in all aspects of the industry. We are supposed to be protecting our clients with their biggest aspect – they are not just a commission cheque. I would say more, however, I don’t have a suit of armour
Hi Pamela… “I don’t have a suit of armour” isn’t it horrible that you have to watch what you say? In any event, good luck out there!
I think this article only applies to people doing real estate part-time with unflexible full-time jobs. But I can’t imagine myself doing real estate if I’m only available after 6:00PM and weekends. I’ve had experiences as a buyer, working with a realtor who works another job full-time and had scheduling conflicts with me and his daughters’ dance practice. As a full-time realtor, how can I distance myself from the part-time realtors?
As a full-time realtor, how can I distance myself from the part-time realtors? That’s easy. Pick up the phone when it rings. Answer emails promptly. In this day and age it’s all about the tech. Make sure you’re savvy or that you have someone who is on staff.
I am going for my realtors license and I do plan on working part-time. How ever I agree that just because you are working part time does not mean you have a dead end job! I am choosing to work part time because because I am a mother of three and would like to have a flexible schedule. How ever I also believe this will make me a better agent because I will be able to answer call at any time and do my research as well. I must say that in my very recent home hunt getting calls back was nearly impossible! From those working part time and full time! The integrity of this business is rocky to say the least! In the over 75 calls to many different offices my husband and I made we only recieved 3 return calls! And we were cash buyers! It is beyond me how they make any sales to begin with. My choice to get my license stems from passion I have for real estate and the wanting to know the ins and outs.. And I plan to do my job with integrity! However my family comes first!
I agree with Mr. Miller in that being dual career gives your credibility. I think that customers will and do understand that you have a full time job and I have had no problems attracting clients and servicing them with their real estate needs. I have a full time job with the IRS and am a CPA and most of my clients value the professional advice and credibility that I can provide them in dealing with investments and real estate transactions. I think your comments on being a part time agent may be appropriate for those who cannot manage their time and who have clients that demand too much of your time. I personally think those clients are not worth having.