Why Part-Time Real Estate Agents Fail
There is a direct correlation between successful full time real estate agents and the part timer real estate agents who fail out of the industry.
Let’s face it… How can you be effective in really anything in a part time manner?
We will go into detail of how and why part time real estate agents have a limited percentage of success in the real estate industry.
Part Time Agents = Limited Time
As a part time real estate agent, you have limited time to assist the public in buying, selling or leasing real estate. If you are working another job are you really able to field certain important phone calls?
Or what about prospective buyer or seller calls that will not leave a message if you do not pick up. They are on to the next in order to find a full time real estate agent to assist them.
Time is finite and limited so you must figure out a plan from part time real estate agent to full time.
Would you hire a part timer real estate agent?
Let’s say you were in the market to sell your house. And your friend was a part time real estate agent who worked in a completely different field such as a nurse or mechanic.
Would you personally hire that part time real estate agent to effectively market, negotiate and transact on your behalf which is likely one of the biggest assets you will ever own?
I know I wouldn’t. That is like hiring a part time dentist to do dental work on you. It just doesn’t make sense.
But… If you are a part time real estate agent or planning on being one, keep reading. I’ve got a plan for you!
Have A Plan With A Defined Date
If your plan is to work part time in real estate, then it is imperative to have a plan for transition to full time.
If you don’t, I would reconsider getting your real estate license in the first place.
So for example. Figure out all of your expenses on your personal cost of living. I suggest to building a 6 months reserve to offset this. Once 6 months is stacked away, go full time.
So if your cost of living is $2,000 per month, then you have to save up $12,000. It may sound like a lot but this could be 1-2 real estate sales as a part-timer. But the KEY IS to put that money away and do not touch it for ANY reason!
If you have problems with money management, check out the book below. This book changed my life and I am sure it can do the same for you!
Partner Up
While you are part time in real estate, consider partnering up with a full time agent.
You have the opportunity to learn a great deal of knowledge from them and they will have your back when needed to handle showings, inspections, follow up, appraisals, phone calls and all important other real estate tasks.
Set A Disciplined Part Time Real Estate Schedule
As a part time real estate agent, you have limited time. During this limited time, 90% of it needs to be income producing. I would concentrate in two areas. Calling, mailing and emailing your Sphere Of Influence.
And reaching out to either FSBO’s, Expired Listings, Pre-Foreclosures, For Rent By Owners, Etc. Set appointments or even set appointments for your partner and split commission 50/50.
Below is an easy way to get access to these contacts. The link below will waive their $149 sign on fee!! Explode your business right now!
Failure Is Not An Option
Part time real estate agents with no plan are setting themselves up for failure. Be sure to have a defined clear plan in writing on how you will build your business, develop a partnership and go full time!
Browse through this site for tips and personal stories and my own failures!
To much success – Steve