Any advice for a wanna-be part-time real estate agent?

Asked by Rachel, Beaver Falls, PA Mon Mar 11, 2013

What are the "catches" associated with an agency's willingness to train for free? Do agencies typically give you listings to help you jump-start your business? Thanks in advance!

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20
Annette Law…, Agent, Palm Harbor, FL
Wed Mar 13, 2013
Rachel,
As you are finding out, real estate professionals are incredibly generous regarding sharing with others the 'secrets' of the trade. (Secrets are an urban legend) Some, unfortunately,continuously attempt to create barriers making it increasingly difficult for others to enter this business. There is a reason some many folks, like yourself, look towards a real estate career as the pathway to their success.

You should continue to buy a 'cheese danish' for a few more agents to get a broader view of the options available. If you eliminate 'wanna-be' and 'part-time' from the descriptions of your intent, you will find no shortage of successful professionals who carry the torch of 'pass-it-forward.' However, no one wants to have their time wasted on a 'wanna-be.'

This is an EXCEPTIONAL time to enter this business. However, if you do not plan properly, the likelihood your history will repeat that of the 95% of newly minted agents who never reach their second year anniversary increases dramatically.

Read a few of my posts regarding what you should be asking brokers that is the real indicator of what your future will be.

Regarding your question...."...give you listings to help you jump-start..." Sorry, no one is going to GIVE you ANYTHING. This is a predatory business in which you, a real estate professional, will be a vital part of the food chain. EVERYONE will attempt to put a hand deep into your pocket....and don't expect a thank you. To make money, you will need to spend money. Where you spend your time and money will prove essential.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us

Scotsdale Bluffs, Dunedin Home Tour
http://youtu.be/KTuVUxNDpOQ
2 votes
Rachel, , Beaver Falls, PA
Wed Mar 13, 2013
Well, I met with the local agency yesterday, and she said that although they aren't the top of the line, they have a LOT of agents who do it as a "second job" (she said not "part-time"!) They too don't feel like they can take a full leap right away, too much at stake. That's definitely comforting! She said the best bet to start would be a seller's agent so I can work with families and it's much more flexible that way, or I can "sell" my clients to other agents and still make a little bit of money. Thanks, everyone!
1 vote
WOW!! I don't think I would work for that company!!
Try a bigger agency. Keller-Williams maybe?
Don't let that discourage you. I have 2 agents working with me. Both have full time jobs .... one more flexible than the other. They will be full time agents soon. They just need to get a little more experience and a few more closings.
Flag Thu Mar 14, 2013
Denise Bruno, Agent, Canonsburg, PA
Mon Mar 11, 2013
Hi Rachel,
I wish I would of talked to someone before I went into this business. Pick several real estate companys and interview the brokers.Most companys have their own training program but you have to take two course which are Real Estate Fundamentals & Real Estate Practice. Listings you are on your own and you are own your own with buyers. No one is going to throw you a free-bee in this business. Real Estate is owning your own business. Its not an easy business what so ever. Do lots of opens for other agents and you might get a buyer or even sell the listing. It takes 3-5 years to get established alone in this business. You really have to be a full-time agent. And its expensive!! Ask yourself why do you want to be a realtor? Is it money, freedom,etc. I hope I did not scare you off. I love what I do! Not everyone can say that. Good Luck!!
1 vote
Sharon Sapp, Agent, Reading, PA
Mon Mar 11, 2013
I second all the comments here. Just keep in mind that buying a home is a huge investment for buyers. They need someone to help them through it all. They don't all work day shifts or the same schedule you do and they will need you to be available to them on THEIR schedule. I'd suggest you discuss your situation with potential brokers. Not all brokers will hire part time Realtors. In our office, we have 26 weeks of training, one night/week before a new agent can take "floor time". There are some classes new agents must take before dealing with customers (the agent's license and reputation is on the line with everything you do), but as soon as those classes are completed, the new agent is STRONGLY encouraged to do open houses. If there is no mentoring program in place (many offices do have this), I'd suggest finding one of the top agents of the office who would be willing to have you "tag" along for awhile until you get the hang of things.
1 vote
Scottfarley1, Home Buyer, New York, NY
Tue Jun 27, 2017
I've got about 10 friends (I'm in NYC) here who are agents. They all say you should be full time to make a living out of it. With that said, 2 of them are still part-time and they say there are some firms like Mont Sky which are lenient about you having a second job.

For your second question, I believe it's very rare to just hand out sale listings here in the city as they're obviously very valuable. Mont Sky does seem to do that, but with management oversight.

Listings seem like an obviously way to kickstart your business --- aren't open houses just a way for Realtors to meet clients?
0 votes
Janice Caputo, Agent, Pittsburgh, PA
Sun Mar 17, 2013
Don't expect to make it part-time; availability is key and to be on top of things you need to be able to respond in a timely fashion. No problem finding an agency to take you because you pay the same fees regardless of how many hours you work and even of you make nothing you still share the same fees.
0 votes
Janice,

Could you provide more details on the fees part? Do new Real Estate Salesman pay the Broker firms some fee to be working under them?
Flag Thu May 26, 2016
Mack McCoy, Agent, Seattle, WA
Thu Mar 14, 2013
Rachel, thanks for getting back to us.

So, how does that advice from the broker sound to you?
0 votes
Don Maclary, Agent, Virginia Beach, VA
Wed Mar 13, 2013
It is not as easy as most think and full time is needed to be succesful
0 votes
Rita A. Walk…, Agent, Louisville, KY
Tue Mar 12, 2013
Rachel,
Each firm has it's own way of doing things - nothing is typical.
You may want to interview at several firms to see what they have to offer you and what fits.

It is difficult to be able to represent clients on a part time basis. Do you plan to stay part time or just start out that way till you build your business?

If you can work with an experienced Realtor or on a team when starting out, you may learn the business very fast. Just remember that these people are helping you, so compensation may be low for a while.

Your local association most likely offers low cost continuing education classes. After you get your license it is a great idea to head back to class to learn how to practice your profession in the best way possible for your clients and yourself.

Good Luck on your endeavor,
Rita
0 votes
Barbara Gran…, Agent, Anaheim, CA
Tue Mar 12, 2013
Hi Rachel,

As with most professions, this line of work can sometimes be demanding and require focus which can be difficult to do on a part time basis. I would have to agree with the others who have gone before me. You may want to talk to a few brokers to learn more before making the commitment to get your license.

Best of Luck

Barbara Grandolfo
0 votes
Judi Monday,…, Agent, Green Valley, AZ
Tue Mar 12, 2013
I believe when it comes to Real Estate you will get out of it what you put into it. And to build a successful business takes a full time plus effort. I don't know of any agencies that are going to give you listings to jump start your business. If what you want to do is test the water--start out by being an assistant to a busy agent in your area then decide if the business is really for you.
0 votes
Bill Eckler, Agent, Venice, FL
Tue Mar 12, 2013
In the business of real estate, don't expect anything without giving something in return. Many companies will provide leads for agents to chase down in exchange for a "referral fee." This fee is normally in the 20-30 % range.

FYI....I wouldn't advertise being a "part-time" agent because this status won't endear you with brokers or customers because of the association this brings with experience and availability. The reality of being in this business is that even when you believe yourself to be part time because you have other obligations you will find youself to be investing enough time to have earned "fill time" status.

The best scenario for full/part time arrangements is when your other endeavor is one that adds to your client base and expands your customer contacts.....


Good luck,

Bill
0 votes
Noble Lawren…, Agent, Wexford, PA
Tue Mar 12, 2013
You can try but the expenses may not justify it if you do not already have a large pool of family and friends that are ready to buy or sell. I do not think part time agents have an easy time making it in the business let alone be the best choice for a client to have represent them.
0 votes
Scott Hulen, , 64068
Mon Mar 11, 2013
On a positive note: If you want to get into real estate first work as an assistant to a successful Realtor®. This will let you see the business from the inside on someone else’s dime. It really doesn’t matter what they pay you, but what you will learn by doing will be invaluable in making your decision to continue down this career path. Do not attempt to become a part time agent you will FAIL, 80% of agents are nonworking or out of the business in 2 years only about 5% actually succeed in this career path five years from the date they started. This business has changed over the last 20 years and you really need a college education & or 2-5 years of infield experience to be successful. The real pros in this business are very good and very few, but perform about 80% of all the work. Good Luck to you!
0 votes
Mack McCoy, Agent, Seattle, WA
Mon Mar 11, 2013
I don't know about "advice," Rachel; but I think you need to know what value you are going to bring to a buyer or a seller in a real estate transaction.

Nobody's going to give you listings or buyer to work with, you may get some leads but you are going to have to convert them into actual clients.

All the best,
0 votes
Bette Zrimsek, Agent, Pittsburgh, PA
Mon Mar 11, 2013
It is hard to make a living at real estate on a part-time basis. The complexity of today's real estate transactions have made the business much harder, with much more agent liability. It is a 24/7 world, and real estate is no exception.

I suggest that you align yourself with a full-time agent who can help to train you and act as your mentor. I also suggest that you obtain as much generic real estate education as you possibly can, above and beyond what is needed to pass the test for licensure.
0 votes
I'm confused as to why people assume part time real estate agents are not available 24/7. Really, so you are saying full time real estate agents work 24/7? Many part time real estate agents cannot up and quit their current job (salary, benefits) when they begin their real estate career, but it doesn't mean they are not flexible with their hours or are not available 24/7...and sometimes agents are part time because they are a full time homemaker/caretaker. Again, they still may be available 24/7 but have other commitments.
Flag Fri Nov 1, 2013
Blair W. Coh…, Agent, Monroeville, PA
Mon Mar 11, 2013
Most large companies offer training/classes (or indoctrination into that they are the best) and some small companies may be able to give you one on one training/mentoring with the owner. Some large companies offer mentoring but who is mentoring you... somebody with a year or two or maybe three in the business and how successful/productive is the "mentor" if they have time to do this. This may be more of a crutch.

As far as the company giving you listings. This is a business for self starters and if you are looking for them to supply you with business (and they may tell you they will) keep in mind that they may have producers that have been in business for a long time and the veterans may expect the bonus of the referral business from the company. Also the company wants to have the best chance to have the sale made and that may mean referring to the veteran.

Good luck,
Blair
0 votes
Becky Price, Agent, Allison Park, PA
Mon Mar 11, 2013
As far as listings, you're usually on your own. But many fellow agents will let you host their open houses and meet potential buyers that way.
0 votes
Becky Price, Agent, Allison Park, PA
Mon Mar 11, 2013
Meet with brokers and find one whose culture and business practices for with your personality. Many brokers will sponsor you and pay for your state-required courses, and you'll have a place to work when you pass your exam.
0 votes
Akil Walker, Agent, Upper Marlboro, MD
Mon Mar 11, 2013
Hi Rachel,


Each brokerage varies. Some brokerages prefer to have full time agents only. What you need is a good broker or fellow real estate professional that will assist you with growing your business. For example we have a mentoring program that will help you with your first three transactions.

Some brokers offer desk duty and you can obtain clients from walk ins to jump start your business.

Good luck in your venture.
0 votes
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