In this day of get-it-now service and support, I believe the era of the part time real estate agent is going to be on a dramatic decline. Never eliminated, but there will be a very noticeable decline, and here’s why:
1. Consumers are (rightfully) impatient. They want information, and they want it now. If their agent can’t tell them the price of the house on 123 Maple until 6pm when they are home, the buyer will move on to another, possibly the listing agent. By the way, if your full time employer is paying you to do that job, why are you trying to sell real estate on their clock?
2. I am sure there are some exceptions in every market, but it is extremely rare that a part time agent has the knowledge and experience to guide you through your biggest transaction ever.
3. It’s all good until there is a problem. Then when the problem pops up, your agent is as quiet as a church mouse. They knew how to handle the “happy” part of the deal, but now, at crunch time, they disappear like A-Rod in October.
4. That special listing you’ve been waiting for got listed today. Do you know where your part time agent is? At their full time job. Guess who just made an offer? The buyer with the full time agent who called their buyer when the new listing posted.
5. Consumers want a professional. Sellers demand value. If a seller is paying $20,000 in commissions to get their home sold, don’t they deserve a full time representative?
According to the National Association of Realtors, 25% off their membership make 0 sales annually, and another 22% make 2 sales or less annually. My guess is another 20% make less than 5 sales per year. Why don’t most part timers sell real estate full time? They don’t sell enough real estate to make a living. Enough said.