As a Sacramento mortgage broker, my experience working with my clients’ part-time real estate agents has been very frustrating. Communication is usually sparse because they are trying to cover a day job. Often, they lack essential industry knowledge (especially RESPA), perhaps because they don’t have time to keep up on industry changes. It seems that they simply do not have adequate time to provide an acceptable level of service to their client.
If I get a referral and they are working with a part-time realtor, I want to suggest they find a "part-time" loan officer, too! Just kidding of course; but, as a rule, I will not work a transaction with a part-time agent and will gently suggest that the client find a "full-timer". Time is too precious to waste on agents I can’t reach in a timely manner!
I sometimes find myself spending hours educating part-time agents on the purchase process with information they should be getting from their broker. But what if the part-timer IS the broker? Yikes!!! These brokers are also always available when the client or agent needs them.
Granted, times are tough and I understand the need for real estate professionals to get outside employment. However, as a Sacramento Mortgage Broker, I believe that an agent remaining in the business on a part-time basis, rather than making a full exit, is highly detrimental to their clients.
So, here's what you might expect from a part-time agent:
- Part-time continuing education
- Part-time industry knowledge
- Part-time communication
- Part-time experience
- Part-time dedication
- Part-time follow through
Choose your Sacramento real estate agent carefully!