What does it mean to be a part-time or a full-time Realtor? The answer is in the Experience, Effectiveness, and Presence of who you might hire to help you buy or sell a home. There are many reasons why you should seek someone who works full-time in this business, but it might not be clear.
Many times, a personal relationship gets in the way of making sound business decisions when it comes to buying or selling - as a consequence, I have gained many new clients being present as a full-time Realtor, when their friend/family member was unable to get the job done effectively. Let's see what differentiates those who are committed full-time versus part-time in the real estate business.
Malcolm Gladwell was famous for saying that in order to become world class in any field, you need 10,000 hours of deliberate practice with that skill.
Real estate is no exception. Let's say someone worked 40 hours a week as a Realtor, it would take about 5-6 years to achieve that necessary 10,000 hours. Realtors who are in this business full-time, likely achieve it quicker. Someone who is part-time, assuming they are actually closing transactions, will never get to that point. I say "getting business", because if there is a need to support themselves off of real estate income, it's likely they quit before that ever happens. Let's look at some major differences with Experience.
Many times, I hear about ineffective part-time Realtors. In the case of buyers, a Realtor needs to have their ear to the ground in real estate. They need to have systems in place to do things more efficiently, so they can do more with less. This is true of any business, but even more so when you are a self-employed Realtor, relying on nobody but yourself to get things done. Let's see some of the differences with Effectiveness.
How responsive do you want your Realtor to be? If it were me, trying to seek and find a home, or trying to sell a home, I would want to hear from my Realtor at least a few times a week. Even contacting me just to say there is nothing available,
Now, imagine you are in the midst of a sale, and you need to contact your Realtor, for a slew of reasons - a part-time Realtor might be at another job, they might be doing something that prohibits them from being present. Let's see some of the other differences with Presence.
This post is more self-serving than others, but it pains me to see people choose their friend or family member who happens to hold their real estate license, over a true expert. The barrier to entry in this business is so low, so we find many part-time agents comprising of stay-at-home parents, those with 9-5 jobs wanting to make those big commission checks 'easily', or those that just don't have the entrepreneur spirit necessary to get the job done.
You won't be the first buyer/seller to come to me frustrated by their Realtor - don't waste any more time. Come and see the difference it makes - hire a full-time Realtor over a part-time Realtor. If you're in CT, call me!
We (Joe and Chris Balestriere) are Realtors in Fairfield County, Connecticut. Our blog is meant to educate buyers and sellers and equip them with tools to get the most out of their Realtor, whether it is us or someone else. We focus on technology and how it enhances the work we do for our clients--we are not top CT Realtors by accident.