PROs and CONs of Hiring A Part Time Real Estate Agent
Buying or selling a home is one of the largest life events in a persons lifetime. It’s rarely a good idea to attempt to buy or sell a home without a licensed real estate agent.
There are many reasons why for sale by owners fail in real estate. It’s also vital to have a buyers agent when buying a home. Since having a real estate agent is so important, whether buying or selling a home, is it a good idea to hire a part time real estate agent?
If you’re a part time real estate agent or a buyer/seller working with a part time real estate agent reading this article, before you get all worked up, I recognize that there are some great part time real estate agents out there.
One of the most important questions to ask a real estate agent when selling a home or buying a home is whether they are full time or part time. This is an important question because there are definitely PROs and CONs to hiring a part time real estate agent.
Below you will find out what the PROs and CONs of hiring a part time real estate agent are. It’s very important when deciding who to hire as a real estate agent, that you weigh the benefits and drawbacks to help determine if you hiring a part time real estate agent is for you or not.
What Are The Benefits Of Hiring A Part Time Real Estate Agent?
If you’re thinking about hiring a part time real estate agent there are potentially some great benefits of doing so. Below are some of the benefits of hiring a part time Realtor® to help you buy or sell a home.
One of the most common benefits of hiring a part time real estate agent is that they’re likely to be ambitious, especially if they are new in the business. If a real estate agent is part time, they should understand that they need to spend most of their time while not working their full time job on real estate.
An agent who is new in the business, who happens to also be part time, is likely to have tons of ambition to succeed and this can ultimately mean they will work as hard as any real estate agent would.
Another PRO to working with a part time real estate agent who has a full time job that doesn’t allow them to be available during business hours (9-5PM), is that their schedule may work well for showings and appointments. This of course only applies if you have a position that requires the same.
One of the most important things to expect from a real estate agent when buying a home is that they are available for showings. If a part time real estate agent is only able to show you homes in the evenings or weekends, this may work for many buyers.
What Are The Drawbacks Of Hiring A Part Time Real Estate Agent?
Before deciding to hire a part time real estate agent, it’s critical to understand that it does come with drawbacks. Below are some of the CONs of hiring a part time real estate agent.
Many part time real estate agents have little to zero experience in selling homes. There are certainly some part time agents who are the exception to this rule. One of the biggest drawbacks of working with a part time real estate agent is lack of experience.
Experience is extremely important in real estate, especially when representing home sellers. There are many real estate marketing strategies used to sell homes that experienced full time agents possess that many part time agents do not.
In addition to the experience of knowing what marketing strategies to use, part time real estate agents often lack experience in negotiating, dealing with inspections, mortgage problems, and other things that can arise during a real estate transaction. There are a variety of reasons a real estate transaction falls through and one of the top reasons is due to a lack of experience a real estate agent has.
Availability can be a benefit to hiring a part time real estate agent, but it also can be a drawback. If you’re a seller or a buyer who has a flexible job that allows you to have appointments during hours that a part time real estate agent may be working, this is an obvious drawback.
Hiring a part time real estate agent to sell a home who doesn’t have the availability to accommodate showings and requests to show can be a huge mistake. One of the reasons why hiring a real estate agent to sell a home is highly recommended because of the time and effort it takes to handle showing requests.
If a part time real estate agent can’t take phone calls, answer texts, or respond to e-mails while they are working, hours may go by after a buyer or their agent request to view a property. It’s frustrating for consumers as well as other real estate agents when an agent won’t return phone calls. One of the most common reasons real estate agents don’t return phone calls is because they are coming in at the wrong time.
Another potential drawback of hiring a part time real estate agent is their market knowledge may not be strong. Full time real estate agents who are working in the market day in and day out will most likely have a better understanding of the current state of the real estate market and the market in general.
Since all real estate markets are different, even if they are close in proximity, it’s very important when buying or selling a home your agent has a strong handle on the local real estate market.
If I had one hundred dollars for every time I’ve heard someone say they were considering selling real estate because they like to look at houses, I’d have a significant amount of extra money laying around. Hiring a part time real estate agent must bring to question why does an agent decide to sell real estate part time.
Do some part time real estate agents sell real estate because it’s a hobby? Do they sell real estate because it’s some extra income they can make?
When hiring a successful full time real estate agent, you’re hiring an agent who sells real estate because it’s their business, not because it’s a hobby or a source for additional income.
Many people decide to get into real estate part time because they have a few friends and their family members that they can help buy or sell a home. Once this group of prospects is exhausted is when they begin to realize that being a part time real estate agent isn’t easy and that to succeed in the business requires a lot of time and effort.
Insight On Part Time Real Estate Agents From An Expert
In an effort to get other expert opinions on hiring a part time real estate agent I reached out to Bill Gassett, one of the top Real Estate agents in Holliston Mass. I have known Bill for a few years now and his advice means a lot. He has been selling real estate for almost 30 years, so he knows a thing or two about the industry. Here is what Bill had to say:
“Kyle thanks for giving me the opportunity to share my thoughts on hiring a part time agent. First and foremost I would advise consumers against it! Unless you really get lucky the chances of having a bad experience go up exponentially. The fact of the matter real estate is a business where you need constant communication with your clients. Things come up all the time in a real estate transaction that need to be dealt with immediately. How can someone who has another full time job be available to solve problems often times that can’t be solved by just a phone call? The quick answer is they can’t!
Consumers should understand that even picking a full time agent can be difficult. For every great real estate agent there are 3 lousy ones. These are not good odds for picking a quality agent. Frankly, the barriers of getting into the real estate industry are far too low. This causes people becoming Realtors that have no business doing so. Many people find out the hard way – experiencing a terrible relationship with the agent they hired. A key take away is understanding how to pick a real estate agent.
Whether you are buying or selling a home it makes sense to go through a complete interview process with multiple agents. Choosing a real estate agent should not be something that is taken lightly. When doing so you can chances are you will have an experience you would rather forget about. Make sure you ask questions that are pertinent to picking the best real estate agent. For example an agents track record is far more important than you thinking their personality is wonderful. Remember this is a business transaction. You want a bull dog working for you, not easy going Sally.”
Deciding whether you should hire a part time real estate agent or not is completely up to you. Knowing how to choose the right Realtor® is very important, whether buying or selling. There are far too many mistakes made when choosing a Realtor®, which typically end in a poor experience.
In most cases, hiring a part time real estate agent is not advisable. If you were going to have a significant medical procedure, would you hire a doctor who only practiced part time? The answer, I hope, is absolutely not.
Other Top Real Estate Resources
- Interview Questions To Ask Prospective Real Estate Agents When Buying A Home
- Is Hiring A Realtor® Worth It When Selling A Home? via Behance
- Qualities To Seek In Your Real Estate Agent via RISMedia
Are you thinking about buying or selling a home in Rochester NY? If so, before you hire a part time real estate agent in Rochester, make sure you take into consideration all the benefits and drawbacks. It’s very important that in a competitive real estate market, like Rochester NY, you have a top agent working for you. If you haven’t hired a real estate agent in Rochester NY yet, contact me. I’d love to discuss your real estate needs and explain in detail why you need a full time Rochester NY Realtor® working for you!
About the authors: The above article “Should I Hire A Part Time Real Estate Agent?” was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise.
We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY.
© 2016, Kyle Hiscock. All rights reserved.