Getting Rid of Part Time Real Estate Agents
Difficult to draw a line in the sand. New agents need TIME and training to learn the industry. Some older agents are available part time for extra income. Some high producers have a tendency to “love’em and leave’em.” Who is to decide the value of another or their potential? Each broker determines his office’s role locally. Time exposes and eliminates the wheat from the tares.
While I agree for the most part, I don’t see brokers clearing out part time agents. They receive monthly income from the fees they charge the part time non producers. If they charge extra fees to the producers we would leave for brokers that didn’t charge us so much.
I am one of those part time agents and I agree with you both. I do however, believe I have higher knowledge and keep up with the business intelligence in the industry. I’m not pissed off at these comments at all though. It makes me want to convert to full time.
Let’s be real here. Putting a home in the local MLS actually sells the house. Not putting a sign in the yard, an add in a local Real Estate Magazine or holding an open house. According to the “National Association of Realtors”, over 70% of all homes sold because another agent put the house in the local MLS so another agent could sell the house. I know, it’s rocket science. At least that’s what a part time Realtor will tell you. Maybe the part time Realtors could go and be part time LO’s for KW Mortgage. Now there’s an idea!
I blame he broker/owners of a real estate company for hiring part time agents. They are not doing sellers or buyers fair. I have been in this profession full time for 37 years and it is a total embarrassment to see how most real estate companies are hiring part time agents.
Thanks so much for the tribute to Steve! That was a very heartfelt piece! Steven was a good soul and left this earth far too soon. I loved working with him on mortgages for my clients, always professional, knowledgeable and fun! He will be missed by all! Thank you! jd
This white paper on the future of the RE industry is timely and relevant to the discussion.
I think you are making a mistake in using “part time” as a synonym for “stupid.” As a part time agent for the last 10 years, I have had to deal with a lot of full time agents over the years who had no idea what they were doing and were definitely a liability to our industry. The answer to the stupid agent problem is a more robust system to verify skills, not just closing more deals. We have to spend XX hours per year (depending on state) sitting in a CE class listening to an “expert” drone about whatever and everyone knows it doesn’t make anyone better at their jobs. Why don’t we scrap worthless CE and just make agents retake the licensing test once every year or two? Culling the herd is a great idea, but the measuring stick for that shouldn’t just be sales volume alone.
I’m with you, Shane. As a part-time agent for 8 years, I’ve worked with full-time agents who were inept, who suggested I overlook serious issues because we were getting our commissions soon, and a broker who actually asked me for advice on which forms to submit. To hastily generalize and lump part-time agents as not knowing what they are doing is like saying that all full-time agents are competent. I know some full-time agents who put in less time in their business than I do. Some of the comments I have received from various clients are that I go above and beyond the call of duty and how impressed they were with my ability to successfully negotiate on their behalf. My goal is to become a full-time realtor, but I work another job because I need a steady paycheck every two weeks to feed my family as a single mom, although I have to pass the same CE courses and pay the same fees that full-time agents pay, which I don’t whine about. I sometimes work 7 days a week because I am dedicated about helping my real estate clients, and my business is largely comprised of referrals because of that. I also have a co-realtor I work with as a backup to always accommodate my clients, which I think is just plain smart. It sounds more like some full-time agents don’t like the competition of part-time agents and use that as an excuse, but they should focus their energy on how much better they can serve their clients instead.
The Part-Time agents that are serious about education….and learning the craft! However, there are too many agents that do not know their craft and are in it for a fast buck. Tradesmen have to go through an apprenticeship, Drs need to go through residency, Agents should as well. Increase the education requirements. MLS and Associations are also to blame for the increase. They just love to increase their membership. More membership, more dues. Unfortunately, more membership =more agents in the field. I’m not in the top producer field. I am in the ‘reach my goal’ category.
I have an idea, how about letting the feds or lenders regulate all realtors and set up some customary & reasonable fees. Heck they could even set up some Real Estate Management Companies (REMC’s) then they can steal 1/2 your fees and add a boat load of nonsensical requirements on top of all your transactions. The big banks need a new income stream.
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