Part-time Agents Could Create A Steady Flow of Business

By
Managing Real Estate Broker with RE/MAX Executive Realty 104763
http://activerain.com/droplet/5cqt

 

We constantly read posts that make firm statements about part-time real estate agents. I have always had a definite opinion that fulltime agents are the only “valuable contributors” to any real estate office.

There are exceptions to every rule, and this is one.  There are part-time agents who have value, and why send that value in the direction of another real estate office?  The part-time agent can easily blend in and be "attached at the hip" to a fulltime agent. With that partnership, the value becomes significant.

The part-time agent might have a strong connection to the community; or strong ties to a builder; or have a fulltime job that is in a related field like banking or insurance with real estate leads knocking on their door.  The real estate license of that part-time agent is worth as much, if not more than many fulltime agents.

The part-time agent must have a support system in place for those moments when communication is necessary immediately and the agent is not available to communicate until the end of the workday.  The intense instances that require one to drop everything and address the problem immediately cannot be satisfied with that condition.

Partnering and working closely with a fulltime agent solves that problem.  There are part-time agents who can and do produce more than fulltime agents.  The quality of their work is not impacted by another job because there is always a partner on the scene.   

As the real estate industry realizes a reduction in force, we will see many seasoned agents return on a part-time basis.  Newly licensed agents are not going to leave a weekly paycheck to test the waters, and they are another viable option.  Not all part-time agents are worthy of hiring, just as this rule also applies to full time agents.

Partnering with a seasoned agent is the solution, and there are many who could work to the advantage of the office.  I think it’s a good business decision to be more open minded about this topic, especially in an extreme sellers’ market. Listings and land leads are always desirable items on our daily menu, and I’m continually mindful of that when I communicate with affiliates of a connected profession.

Imagine the leads that would come from an associate who certifies septic systems? Homeowners usually get that certification before they call in a real estate agent to list their property.

A landscaping company is another great source for listing leads, and it’s typical for a homeowner to landscape and “stage the grounds” before the real estate agent is called in for a Free Market Analysis. This list can only get longer, but you have the idea.

Only licensed individuals are allowed to be paid a commission or referral fee or finders fee. Call it whatever you wish, but make sure they’re licensed, and then put that license in your office. It’s a consistent funnel of listing leads, if it’s the right hire.  

There are small builders who have real estate licenses, and they’re another great source for listings. They find a lot and build a home for a resale homeowner who needs to sell. The builder is busy building their home, but the fulltime “partner” will take the listing and share that commission.

If one hires the right part-time real estate agent, all parties will make a score.

Just a thought for the moment….

Posted by

       

Barbara Todaro, sales manager of RE/MAX Executive Realty 

Marketing Agent for The Todaro Team

308 W. Central St...suite E

Franklin, MA 02038

508-520-9881

www.todarosellsfranklinma.com

Exclusive Marketing Agent for The Todaro Team

 

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Rainmaker
318,357
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

Great strategy, Barbara, not only for a part time agent to succeed, but also for a full time partner to prosper more.

May 26, 2018 09:50 AM #32
Rainer
395,067
John Dotson
Preferred Properties of Highlands, Inc. - Highlands, NC - Highlands, NC
The experience to get you to the other side!

Barbara, I have a couple of part-time folks who, every once in a while, prove that they can make a buck in real estate.  I don't discount their ability, but as BIC I have to keep a closer eye on their work.

Being full time certainly is a benefit in numerous ways.

Great post!

May 26, 2018 09:58 AM #33
Anonymous
Harriet Kolovos-Abruscato

Great Post Barbara. I also believe the Part time agent will be more closely in tune with their deals. Giving much more attention to the details because they might be getting a few deals at a time. More concern to see the deal go smooth.

May 26, 2018 11:18 AM #42
Ambassador
1,573,543
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I can easily see this scenario working for the right folks. We wouldn't mind hiring a part time agent who would enjoy sitting at weekend opens - and showing property when/if we have a conflict. And in turn, we could help the agent. 

May 26, 2018 01:54 PM #43
Rainmaker
4,270,250
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Thanks so much, everyone, for your nice comments....they're always appreciated....

May 26, 2018 03:05 PM #44
Rainmaker
1,354,852
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

You’re onto something here. It would be wise to hire a few smart part timers in every office.

May 26, 2018 03:29 PM #45
Rainmaker
1,389,588
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

You're suggesting that people be open-minded. What a fine concept!

You are so right - no two people or situations are exactly alike, and paired with someone who will be there when needed, a part-timer can do well.

May 26, 2018 03:39 PM #46
Rainmaker
150,049
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

I agree with the idea you are presenting. Part time agents can be very profitable and effective, but only if they plan out their actions and utilize their skills fully. Thank you for sharing.

May 26, 2018 09:45 PM #47
Rainer
440,227
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Great post. I have always wanted to know how a part-time agent is really defined, however, I haven't found it yet within the AR community, have you? 

I work when I choose and select my opportunities and clients that meet my client profile, so because I rarely work a set amount of hours every week, I probably fall into the definition of part-time Realtor.

Regardless, that doesn't diminish my knowledge, experience, skills or performance in the real estate, insurance, or mortgage financing industries. Naturally, partnering with proven leaders ensures your performance whether you're a full-time agent or part-time agent.

May 26, 2018 11:43 PM #48
Rainmaker
274,210
Matthew Klinowski, PA
Downing-Frye - Naples, FL
Golf Community Real Estate Expert

If in the long run the goal is to become a full-time agent and the individuals who start part-time are 100 percent committed to that goal then I agree.  Starting part-time and associating with another agent is a great way to learn the ropes and potential help the agent they partner with at the same time creating a win-win environment.

May 27, 2018 04:19 AM #49
Rainmaker
1,709,750
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

For a number of years I've had a school teacher who does between 3-6 closings per year from their SOI 

May 27, 2018 08:02 AM #50
Rainmaker
14,421
Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Broker

Good points Barbara....

May 27, 2018 10:17 AM #51
Rainmaker
4,270,250
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

thanks, everyone.... your comments are always appreciated....

May 27, 2018 11:12 AM #52
Rainmaker
952,870
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Excellent post, Barbara.  With the proper support system, part-time agents can certainly be an asset within an office and the industry.

May 27, 2018 12:17 PM #53
Rainmaker
4,270,250
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Carol Williams yes, the right parttime person can make a score for him/herself, the office and other agents in the office....everyone benefits...

May 27, 2018 12:24 PM #54
Rainer
83,719
Anthony Kirlew
Fiscally Sound - Gilbert, AZ
Helping You Make Fiscally Sound Choices

I could not agree more. I "am" a PT agent, but I know my place. My expertise is marketing, so my goal is to connect buyer and seller prospects with the best agents in their market. I don't want to list homes, don't want to show homes, and I don't want to give up my evenings and weekends. I also know that those doing real estate part time without working with a FT agent and doing their customers and clients a disservice in many cases and I would not recommend working with a PT agent who is not partnered with a FT agent.

May 27, 2018 02:12 PM #55
Rainmaker
4,270,250
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Anthony Kirlew I think that's great..... you're a marketing agent....just as I am...I haven't listed a home in 13+ years.... I get a referral fee for every name and number I pass along.... and I can work from anywhere!!

May 27, 2018 03:03 PM #56
Rainmaker
269,754
Mott Marvin Kornicki
Waterway Realty, Realtors® • Broker • South East Florida • - Miami Beach, FL
Waterway Realtors, Notary Public 786-229-7999

Real Estate Brokerage / Selling and Renting is more of a who you know act than a what you know act. Part-timers have a network of friends and family that could keep them in the green.

May 27, 2018 03:04 PM #57
Rainmaker
2,269,891
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

As long as they spend "that" time wisely doesnt matter if it is part or whole

May 28, 2018 06:43 AM #58
Rainer
82,366
Adam Feinberg
ANCHOR ASSOCIATES - Manhattan, NY
NYC Condo, Co-op, and Townhouse specialist

I considered being a part time agent- really working only on a referral basis. I ultimately decided to change careers entirely and work in real estate full time. That said, I would have been a great example of a part time agent. I worked on Wall Street full time and I was also President and Treasurer for my condo association- the combo of which made for a stronger background than many full time agents I come across.  Because of the mix of my background- I already had a captive audience...and if I only sold 1 or 2 apartments per year, that would have been great since it was better than referring them to other people who were coming to me for advice anyway. I ultimately wanted to be my own boss - so real estate was a great fit.

Jun 05, 2018 08:24 AM #59
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