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Many long-time real estate agents have noted the influx of new agents during and after the pandemic years. Now, in its Annual Membership Profile, the National Association of Realtors (NAR) describes the proportion of the industry that’s made up of part-timers and less-experienced agents.
- Eighteen percent of respondents had two years or less of experience, a median number of two transaction sides, and a median gross income of approximately $8,100.
- Another 13 percent have three to five years of experience. Fifty-one percent of respondents with three to five years of experience reported a gross income of less than $49,999.
- What may be even more significant than the gross income findings is the impact on time, which is critical to job performance: 45 percent of agents with two years or less of experience, and 35 percent of agents with three to five years of experience, hold a second occupation. Combined, these two categories represent a large group of agents with serious time constraints.
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Experienced agents often end up taking up the slack in transactions with part-timers, which can feel frustrating and unfair. The industry’s heavy reliance on independent contractors instead of employees, where hiring standards involve less control over the work performed and the hours worked, contributes to this dynamic.
Not all part-timers are equal
As a managing broker, I developed a list of “knock-out” questions when interviewing a part-time candidate. I learned that not all part-timers were looking for an unrealistic side hustle. I found that those with promise had a passion to transition gradually from their “job job” with its stable income but little future into a full-time role as a real estate agent.
These were the time-blockers and time-allocators who brought with them the ability to keep track of relevant deadlines, an acceptance of taking on realistic performance standards to meet client expectations, and a quest for training and local knowledge.
A part-time story worth retelling
A new hire who had moved from another brokerage to the office I managed desperately wanted to make the switch from part-time to full-time. Due to the flexibility of working in the family business, I tasked her with targeting the number of weekly hours she could devote to real estate.
With careful analysis, she determined that 20 hours per week was a reasonable estimate. Her next task was to time-block the 20 hours onto a calendar, allocating time for prospecting, tasks, and buyer and seller appointments.
Within about a year, due to her fierce determination and her Aries traits, this “part-timer” succeeded in transitioning to a full-time career agent. Her income grew incrementally, her lifestyle improved, and she is considered a top professional among her peers.
What type of part-timer are you working with?
While some part-timers know their stuff, I’ve identified 10 telltale signs that indicate the full-time, experienced agent on the transaction needs to be all in, roll up their sleeves and be the guiding star to get the transaction to the closing table.
1. Poor contract skills
Incomplete or incorrect information on purchase contracts and MLS data feeds, and late or missing disclosures all amount to more than mere error, impacting both the legal and fiduciary duty to the client, the ethical duty to the agent and fairness to all parties to the transaction. Getting MLS data right is an essential part of providing good service and critical to everyone who depends on the MLS to make smart, data-driven decisions.
2. Inability to set boundaries
Anxiety, frustration and even mistrust are compounded when communication breaks down due to the limited hours of a part-time real estate agent. Practical workarounds to a challenging schedule are the signs of an earnest professional. These include:
- Daily voicemails announcing “I’m available today from [X time] to [Y time]”
- Setting up custom text messaging for incoming calls
- Pre-written messages for quick sending
3. Lack of tech savviness
A commitment to mastering the use of basic industry tech tools, including apps such as Showing Time, Follow-up Boss, and Bluetooth key box access, is standard operating procedure for more experienced agents, facilitating effective time management.
4. Not following a process
Experienced agents educate the client early on about the various steps and choices in the buying or selling process. Failure to do this erodes trust and seriously affects critical decision-making.
5. General wrongdoing
Whatever the reason, it’s just plain bad business when a part-timer’s new listing hits the MLS as Under Contract, thwarting showings and offers. And there’s no excuse for not adhering to MLS rules and The Realtor Code of Ethics, which requires Realtors to cooperate with each other in furthering clients’ best interests.
6. Poor negotiating skills
Everyone loses when the part-timer is unprepared to compete in complex offer scenarios that may involve multiple offers, buyer concessions and compelling contract terms. Too often, the part-timer’s buyer client loses the bid, and the seller client loses a viable offer or leaves money on the table.
7. Lack of preselling
Not coaching the consumer on the value of obtaining a mortgage pre-approval over a pre-qualification puts the part-timer’s buyer in a weak negotiating position, and the seller at risk of accepting an offer doomed to fail. Savvy listing agents can easily spot a pre-qual that is little more than a verbal interview.
8. Displays of unprofessionalism
Whether intentionally shirking their responsibilities or arriving unprepared, many part-timers fall short in supporting a home’s contract price, especially during market shifts, unaware that pending sales can be used in low-supply markets. The following resources educate the agent to their supportive role in the appraisal:
9. Limited understanding
A part-timer’s lack of experience in guiding buyers or sellers through home inspections can be addressed by seeking assistance from a mentor or a sales manager. Terms often misunderstood or poorly articulated by the part-timer are key to mitigate unrealistic requests by the buyer or staunch refusals by the seller, such as:
- What is considered a defect?
- What are cosmetic and aesthetic preferences, but not defects?
- What items are at the end of their useful life, but are working at the time of inspection?
Naked-eye items, broken windows, torn screens, etc., should be brought to the client’s attention before entering into a contract. The home inspector covers only those items that require an expert to see and assess.
10. Transaction mismanagement
The biggest cause of a failed transaction is when the part-timer shrugs off the pinpoints of a well-managed transaction:
- Relevant contingency dates
- Deposit deadlines
- Utilities’ transfer
- Broom-clean walkthroughs
More experienced agents would serve all parties by checking in with the part-timer on these items.
Have a heart
There are times in our industry when the competitive climate makes it easy to become hypercritical. The professional agent with a heart and mind to serve all fairly knows how to rise above the noise created by less experienced agents. Otherwise, the ripple effect on the other side of the transaction can become uncontrollable, irreparable and even punitive. No one wants that.
Pay it forward
Reaching out to full-timers for their take on this issue prompted me to take a step back. In lively discussions with consummate professionals, I discovered a sense of paying it forward. Instead of harsh judgment and criticism, I found empathy, counsel, positive reinforcement, knowledge-sharing and practical guidance.
For inexperienced agents who don’t want to reek of newbie or part-timer: Find a mentor, collaborate with seasoned agents in the office and take virtual classes on your own time. These are available at local board offices or through brokerages’ online training platforms.
Most of all, reach out to experienced agents on the other side of the transaction who have already paid their dues, learned from on-the-job experiences and mistakes. You will find agents who remember when they were part-time or inexperienced, happy to give back and raise the level of knowledge and professionalism in the industry as a whole, as well as for the part-timer in need.
Annette DeCicco is a real estate broker and director of growth and development at Berkshire Hathaway HomeServices Jordan Baris Realty in Northern New Jersey.