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Reality Check, Real Estate Is NOT PART TIME

By
Real Estate Agent with Dirt Road Real Estate SA676002000

Yesterday, I was at a friend's family gathering and another real estate agent for Dirt Road Real Estate said she just wanted something to do part time and quickly realized real estate is not part time.  I totally agreed with her as I had the same thought when I considered becoming a real estate agent.  Fortunately, my broker at that time Judith Ritter  and my current broker, Elise Harron  both smiled at me and kindly gave me a reality check that real estate is not part time.

During the last week, I added up all of my “part time” hours and those hours well exceeded 40. Here is a recap of the last week.

Sunday began a very quiet week. From reading emails including articles pertaining to real estate, the economy, etc., I answered a few phone calls and submitted two articles to Active Rain. Total estimated time was four (4) hours.

Then on Monday the gates of real estate opened with numerous calls wanting to purchase land as well as to list vacant land parcels. This Monday was the semi-monthly zoom call for the brokerage, Dirt Road Real Estate.

Also, I wrote one article for Active Rain and worked on my paperwork and financials. Additionally, I began working on competitive market analysis (CMA) for the four properties that I scheduled to tour the next day.  In the evening, I had already planned some free time and participated in a painting and wine event. Total estimated real estate time was 10 hours.

Tuesday with my husband in tow, riding shotgun, we physically visited four potential vacant land listings.  I took over 125 photos of these four potential vacant land listings. The fourth listing was about 15 miles to the north of the first listing. 

Before we left I wrote a blog posting for Active Rain and continued to work on the CMAs. Upon completing these tours, I treated my husband to dinner as a reward for riding shotgun. Then, we returned home and I resumed working on the CMAs.

In driving to the fourth property, I saw a client who had just purchased 2.35 acres of vacant land.  I stopped the truck and we had a quick 10 minute chat. This client indicated she wanted me to sell her home in a nearby city.

In between touring these four listings, I visited another forthcoming listing to confirm that the tenants had vacated the premises. This was somewhat experience apprehensive as the door was wide open to the home.  Thankfully no squatters were present. I shut the down, secured the gate to the property and contacted the guardians for the seller to inform them of the situation.  Tuesday’s total estimated time was over 10 hours.

Wednesday morning began with a trip to the local fitness center as I have made a commitment to increase my flexibility and strength. The instructor believes once a week is not enough. However for me and my schedule, it is a good start.

Then I returned to my home office, downloaded over 125 photos and completed the CMA’s for the four properties I toured on Tuesday. Adding in follow up on two real estate transactions in escrow, verifying the scheduling of a septic inspection, checking on a pending offer to purchase and communicating with new sales leads as well as existing clients, filled up the rest of the day. Again, real estate paperwork consumed probably another 2 hours as well. Wednesday’s real estate estimated time was probably 8 hours.

Thursday morning began with the usual check email and I wrote two blog postings for Active Rain. I missed submitting a blog posting to Active Rain on Wednesday due to sleeping in until 6:00am. From 8:45am to 12:15pm I was in a continuing education class for the renewal of my license. In the afternoon I had to run some real estate errands in town including going to the bank and post office.

Upon returning to home office, I had to craft another CMA for a listing call that I received when I was out running errands. Add in the texts, emails and other phone calls and Thursday was a fairly quiet day of only 8 hours.

Friday started as most days start by responding to emails, answering phone calls and texts. I was able to write one blog posting before leaving for a dental appointment.  After sitting in the dentist’s chair for nearly two hours, I decided to reward myself by having lunch at the local Cracker Barrel. Since it is Lent, I do not eat meat on Fridays and Cracker Barrel has a grilled trout dinner that is quite tasty.

After stopping to the grocery store as on Fridays we receive double the gas points and I go through lots of fuel, I returned a call in the parking lot when I learned of receiving another listing this one for an off grid residential property, a mini-farm. When I returned home I started another CMA for this off grid home listing. Estimated time was an easy 10 hours.

Saturday started like most days with emails, a blog posting for Active Rain and more phone calls.  I completed the CMAs for the now 7 potential listings and 3 for such listings. Also, I made a vacant land referral to another Active Rain member in Bullhead City/Fort Mohave, AZ.  

As my husband and I had plans to attend an 80th birthday party for a friend’s father, I deviled a dozen eggs to bring to that party which was 75 minutes away. We stayed for 90 minutes and returned home just before 5:00pm.

I then completed printing out the listing documents for the two vacant land parcels and one residential property along with the completed CMAs. By 7:00pm I had completed all tasks. Saturday’s time was 8 hours. Time to sit down and take a breather.

Today, being Sunday, I have two appointments which will have me out of the office from 8:15am to probably 4 or 5pm.  The first appointment, two vacant land listings,  is in Golden Valley, AZ about 30 minutes away and the second appointment, a residential listing mini-farm, is between Dolan Springs, AZ and Meadview, AZ will be another hour of travel time. I will also check on the “vacated” residential property in Golden Valley and see if the gate is still secured.  As I have been up since 4:30am, I expect today will be a 12 hour day.

By adding up the hours, the estimated weekly hours from last Sunday to Saturday are 58 hours.  Adding in another 12 for today and the eight-day estimated total is 70 hours. Thankfully I am an early riser and have the ability to take care of much of the daily routine real estate activities first thing in the morning.  Next week looks to be quite similar to this past week as far as time devoted to real estate.

Yes, for those who think real estate is part time, they are being fool hardy if they want a successful real estate practice. By the way, 90% of all those phone calls, potential listings and offers to purchase are from signage for existing listed properties,  sales referrals or past clients. These successful real estate results are because I go the extra mile and now I am earning additional clients from those successful extra mile efforts.

Going the extra mile is

why real estate is not a part time business.

P.S. The forthcoming week looks to be as busy as the past week.

Feature Photo Courtesy of Pixabay.com

Any reproduction of Leanne M Smith’s blog for use by any AI or GAI, distribution or reproduction including but not limited to electronic newsletters e.g. PDF’s Internet sites or physical products e.g. newspapers, CDs without prior written permission and consent by me, Leanne M. Smith (Leanne Hoagland-Smith) is strictly prohibited.

 

Posted by

Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
Connect with me on LinkedIn:
http://www.linkedin.com/in/leannehoaglandsmith
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I find that anytime I get serious about anything, it becomes more than just a hobby, you know? Wishing all the newcomers all the best!

Mar 10, 2024 08:06 AM
Leanne Smith

As do I and hopefully they will understand this career is quite complex and not as easy as some suggest.

Mar 10, 2024 08:07 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

This business has become so much more complicated and competitive since when I started (1984).  There is so much to know and do, making it nearly impossible for part timers to sustain,

Mar 10, 2024 08:35 AM
Leanne Smith

Even in the short time I have been in this industry, numerous changes have happened. Sustaining a successful (income generating) real estate practice is indeed nearly impossible for part timers. Thank you for adding to this ongoing dialogue. Much appreciated.

Mar 10, 2024 06:24 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing some of your personal experience.

Have a great day and a very productive week.

Mar 10, 2024 09:15 AM
Leanne Smith

You are more than welcome and appreciate you stopping by.

Mar 10, 2024 06:22 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I’ve always tried to turn off Real Estate after 56 weekly hours ( 1/3 of your life) . I don’t always succeed …………

Mar 10, 2024 09:30 AM
Leanne Smith

Well, you and me both as far as time and turning off real estate. Thank you for sharing your experience as well.

Mar 10, 2024 06:22 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I do talk to quite a few new agents who think they can maintain another job and still do real estate. It's not in my nature to ever say "No you can't" to anyone. However, I do try to warn them that clients want them when they want them. They don't want to wait for a call back until an agent is off work from another job. 

And of course, as you have outlined, talking or meeting with clients is just a small part of your duties. It ALL requires time. 

Mar 10, 2024 11:50 AM
Leanne Smith

I too do not tell people what they can't do when it comes to career choices. I will them them of my experience such as today which was a 13 hour day.

Mar 10, 2024 06:21 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I smile at Real Estate being Part Time: I have clients in Europe, the Middle East and Asia and I am on their time... so if you add it up it is a 24/7 operation for me...Endre

Mar 10, 2024 10:06 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have seen too many people try to do it part-time, but if they only do it part-time, they never become a very good agent.

Mar 11, 2024 06:05 AM