All this talk about PT vs. FT; what does this forum consider FT and PT. So if you work 40 hrs on your real estate business; is that consider FT?

Thanks,

Brad

40 hrs FT
33 hrs or less PT

But most realtors work FT and then some!

A very wise person told me always remember to:
Work smart not long!

My definition of part time is an agent who has another primary career that he or she fits a real estate career around. Full time means (to me) that the agent considers his or her primary career to be selling real estate; any other jobs he or she may have are secondary and even expendable. It's not a matter of hours worked - I've worked fewer than 30 hours a week at real estate, but was definitely full-time.

Why do you ask?

The reason I ask is because I own another business that is being opperated by a partner and employees. I am considering this field as another business opportunity; which I will be spending full-time hours on. So am I full-time? Can I advertise as a FT agent?

You can advertise any way you want and you don't need to mention whether you're full time or part time. As long as you're available when your prospects and clients need you, you're full time!

I have never seen anyone advertise as a "part time" agent. Never.
Nobody has to know that you have another job.

Just say you're an agent and you'll devote your full attention to them. (and do it!)

If they want to go out when you are obliged at your other job or whatever it is...then just say "I'm sorry, I already have that time scheduled. How about at 3pm instead, or would Tuesday be better?"

No need to tell them WHY either. Just say it's scheduled.

It doesnt matter. So many FT agents suck such big ones that any decent PT can blow them out of the water if you know what youre doing. It helps if you work a shift that is compatible. For me I worked third shift and not everyday when I started out so it worked for me.

HAH! Merkaba, that's priceless. In our area (resort-ish) there are a ton of retirees who decide to double- and triple-dip by getting into Real Estate.

So they sliver off another slice of our pie while our tax dollars help pay for their pensions and retirements.

Used to drive us crazy in the office days (now home-based) when these retiree guys would steal every lead they could get their hands on then b*tch and moan about stuff, and we'd want to scream "GTFO then! Go rake your leaves or something! Go fishing for cryin' out loud--just be retired!"

We like many of them personally, of course--some are super people. It's just the principal of the thing.

It should not be a hobby just to have something to do cuz you're bored and don't want to stay home with your wife.

Sorry to all retiree/Realtors out there! This is not a slam to everyone. I'm sure our market is a bit different. People retire here for the cool resort enviornment, so why can they not enjoy it after working their whole lives to get here?

Well I'm over 66, could but don't collect Social Security, and plan to keep working real estate for the foreseeable future. I don't think the amount of business I do as a one person operation is severely limiting anyone else's ability to feed their family. Some people would probably consider it "part time" due the schedule flexibility. They don't see the hours spent other times that I feel amount to more than what some "full time" agents spend on their business.

I will not be retiring to the Carolinas, Florida or Arizona. We built this house 8 years ago and are here for the duration.

Holy Cow.

Trush, I am not a retiree but I am totally offended. Not that it matters, but sheesh!

Wow.

I'd rather just see ALL the incompetent agents get out rather than stay in muddying the waters and making us all look stupid with their ineptitude. The incompetent agents range in age from just out of high school to old folks who probably closed the first real estate deal ever...and every age in between.

I for one don't plan on "retiring." I know that we will NEVER ear enough social security to survive on. And don't forget those retirees have been paying into the system since they were young. So it's not like they're leeching.

Wow.

I understand the desire to get rid of incompetents. It really has nothing to do with being retired. Being able to work and bring in money is an important thing to a lot of people - not everyone savors or even wants constant vacation.

i agree with jennifer as far as how to best define "full time." Heck, I only worked 3 days a week from about May until end of September in 2007 and I am "full time."

Being that I was not born flame-retardant, you may count me as completely chastised and humbled.

I was relaying our experience only, and noted that I understood this did not apply to everyone and I pre-apologized to retirees everywhere.

It was in reference to the previous poster who had said that many FT agents "suck such big ones."

We've never held jobs that will afford us pensions nor retirements either, and we therefore also plan like many others to be Realtors forever and ever, amen.

But it'll be our first and foremost real career, not our "something to do" job. One of the retiree/agents we worked with actually bragged about his situation.

I'm sorry. I should have used the FT restaurant owners/workers, mortgage people, bankers, builders, retail owners, etc. in our market who treat RE as their PT gig as an example instead.

(Wow, my first flame-back. I must be a real forum member now!)

My own personal view as to whether one is "PT" or "FT" is how many deals they've closed w/in the last 12 months. 8 or more is FT, anything less is PT.

Volume really shouldn't be taken into consideration due to the varying avergage home prices across the country.

JMHO.

It wasn't a flame. (At least how I understand flames). IF I had said you were an ignorant jerk or something, that is a flame.

I just strongly disagreed with your summation of retirees working, especially since my parents worked well into their 70s and they didn't sponge off the system and they worked hard for their money just like anyone else does. They didn't take money from younger people by working any more than you or I do.

Incompetent people come in all ages, and I guess I'm protective of older people (knowing my hubby is only 5 years away from an AARP membership...ha ha).

It was not intended as a flame - just a very strong opinion on your very strong opinion.

KT,
you can't really do # of deals as the litmus test for FT/PT. In the commercial world it is not unheard of to have less than 8 deals close a year yet you can still close many millions in deals in just those few closings.

We can't put a blanket statement and relate it to all field of real estate.

I am in commercial and some years I only have 2 closings but the commission from those 2 closings is around 600k or more so does that make me part time??If so great!I love the free time to do my own personal investment deals!

I just think everyone needs to worry about what they do everyday to be successfull in there own lives.We can't control the idiots down driving down the road everyday or the agents makign stupid mistakes.All we can do is try to be the best at what we do and help when we can.

OK. I get it. Understood. See, I don't even know what a real "flame" is.

The comment was worded such that it pertained to OUR situation.

My parents work harder now than they ever did in their retired-from chosen careers.

My Dad went to work again FT on Monday after retiring on the Friday before after 40+ years at the same company.

My hubby is already eligible for AARP.

IT WAS NOT DIRECTED AT RETIREES IN GENERAL, as stated.

It was about a stupid idiot at our old office who did no real RE work but cashed his pension check (notice I never said what kind of career or service he'd had) who blatantly told everyone he was just doing RE to "have something to do."

Sorry again, but many people in our area are doing it for the same reason. Just in our area. Not saying anythng about any other areas.

Same thing for the people who got into RE in the boom to make a quick buck who are now gone because they don't have either the cojones or drive or care or need to stick with it during the hard times.

But they'll darn sure be back when it gets hot around here again. Happened before and it will happen again.

Really, I'm usually nice and funny and most people like me, and I like most people back. Thanks for not calling me a jerk...

No problem. LOL

Wow...my first post really created some heated posting! Thanks for the answers, but keep them coming.

Thanks

Does posting to this forum count towards your full time or part time status?

i consider posting here professional work so hours goofing off here, er, employed here are allowable for full-time consideration.

As a new agent, I am reading these post and wondering how many people are trying to get new agents discouraged!?!?! Noone knows why an agent would have to be part time. I have to be part time because I have to pay my bills at home. I would love to be able to quit my job and work full time with real estate, but realisticly I can't.....just starting out in Real Estate. But my other full time job is giving me more contacts to be able to start out. Most of the people in my office are part time and this company is one of the top in the area. So, as long as you work hard for your client, what makes the difference if you are full or pat-time agent???

IMHO, when the full time job gets in the way of a smooth transaction.

You just have to realize that there are a lot of pompous windbags who feel that the way THEY do real estate is the ONLY way to do real estate and if you don't do it THEIR way you are a peon.

I call it the Queen of Hearts Syndrome (ALL WAYS are MY WAYS)

When an agent is making the part time vs. full time decision I think it is important to remember that expenses are full time even when income is part time. Obviously I speak of the fixed expenses such as board and MLS dues, license fees and cost of CE, etc. that will cost just as much for the 1 transaction a year agent as it will the top producer. Other expenses such as 'phone, advertising and auto operation will depend on the amount of business you do. Bottom line: while you may have to be part time getting started (working another job to keep food on the table) the goal should be to move to full time to get your best return on investment. At some later time you may revert to part time to enjoy a partial retirement; even so it should be treated as a business, not a hobby.

This might be a newB question, but does anyone ever work part time for 2 different brokers to equate to full time? Or is that considered double dipping.

I don't know about other states but in PA you can only work for one broker.

If I were a broker, even if it were legal, I would never allow that.

I New York you can work with as many brokers as you want (and they will allow). Department of State (our real estate licensing authority) requires the informed consent of all sponsoring brokers before issuing the additional licenses. I did that for two years (the duration of a licenseing period) with two agencies that were about 70 miles apart and in different ML services. I live part way between and need to do business in both MLS areas. Since going solo I still participate in both ML services and, though both sponsoring agencies have now joined the same larger company, have no intentions of returning to that company.

If you are in business for yourself...which most agents, brokers are, then Full Time is everyday! Your business co-exists with you period. There are no specific days off. It all comes down to scheduling and time management...of your life which is a full time job.

Sean McAlister

If you can't do full time don't do it. You would be wasting your time.
There is more to it then a few hours here and there. Learning the market, looking at open houses etc etc etc etc.. it never stops.

Sure work smarter not harder. Work smarter and longer I would say.

Do you really think the market needs another part time agent?

Toby is correct.

In the VAST majority of cases, part-time agents never make the transition to full-time, fail, and leave the business.

The facts are rather cold.

I was reviewing my main MLS. Of the agents who dropped out at the end of the year, my estimate is that almost 2/3 - 3/4 were part-time folks.

Why? I think there are two key reasons: 1) Clients expect full-time effort. With the number of agents out there, why would anyone choose an agent who is just dabbling? 2) When folks have another job or commitment, they get pulled and stretched by that additional demand leaving them limited energy for real estate.

If you want to do real estate, you really need the resources to go full-time. That means having the financial resources to go 6 months without significant income and the expectation that a significant investment will be required in that period. I know that is rather negative. But, the probability of success without that level of resources is very low.

What if you don't have that kind of cash available or can't quit your job? Wait. Place your license with a license holding company (a brokerage that allows you to refer business, collect referral fees and avoid MLS/board dues). Refer some business (friends, families needing to buy or sell). Take those fees and put them away. When you have enough put away, try the business.

Lots of folks will say that part-time is viable. It generally, overwhelmingly, is not. Don't set yourself up for failure. Do it right when you can.

Ditto...

Toby & staggart are spot on.

I have personally NEVER seen a successful part time agent.


A person's home is typically their single largest purchase. Who in their right mind would let a part timer represent them in their most important financial decision?


Would you go to a part time Doctor, that drives buses for a living, if you needed an operation?


Many consumers feel that part timers aren't committed to the industry - so why should they commit to them to represent their interests.

I've never seen a part-timer successful...

This argument just goes around and around in circles. However, I'm going to respond to this once more:

There are several so-called "Full Time" agents known to me personally whom I would not allow to represent me in the purchase of a dog house.

[quote=Perky_REALTOR]

Of course some cockroaches will always slip through the cracks no matter what you do.

But this is another issue entirely (rather than Full time vs. Part time).

Tougher and more expensive licensing requirements would help weed out those that weren't as committed to joining the industry.

I'll be the first to agree that being a real estate agent should require at least an associates degree in relevant education, not just some stupid 60 hour course that teaches you how to pass the test.

Another approach might be to require an apprentice period . . say three months working under another agent before you could personally do real estate. Combined with the classes, it might increase professionalism.

Another concept is to require dramatically more CE for relicensing.

NC is taking that approach now. It takes something like 90 hours to get a license and then 30 hours a year for 3 years on top of that plus the regular 8 hours of CE we all have to take. After 3 tears everyone is a broker.

IMHO, CE is pretty much useless without a test.

It’s hard to go from PT to FT as an agent. And even harder to make a FT wage working PT as an agent though. CE can be completely useless, or on rare occasions only somewhat useless. I’m super pro-education, don't get me wrong, but I find that most of my real learning has come from life experiences and the internet (in forums like this or in websites that offer decent training programs such as http://creativerealestatehelp.com/?hop=haye0175 ).

In this current real estate market, I don't know many agents that AREN'T working another job -in order to make ends meet. The agent who listed our home was working part time as a bag boy in a grocery store when he first started out, and I didn't think any less of him - on the contrary - I thought he was pretty ambitious to be working 2 jobs! Also, my own father made over $25,000 last year "part-time" just flipping houses, WITHOUT a real estate license. I think "full time" agents are intimidated by those that can swing both a part time job and a part time real estate career and still be successful. I think it all depends on what the individual wants to accomplish and what THEY need to make financially to be "successful". If I worked 25 hours a week and made $15,000 extra this year, combined with what I make in my other job,I would consider myself "successful".
One more thing - I would be upfront with my clients if they asked about my "part-time" real estate career. Considering the economy, I think most people would understand. They would also realize I'm honest and not trying to hide anything from them. And as long as I gave them good service (which most certainly I would), I think thats all that matters in the long run.

It all depends on your SOI, i.e. lead generation, and your market. Period.

I happen to consider myself fulltime, and I have a part time job bartending a night or two a week. I don't see anything wrong with bringing in some extra cash.

I feel you completely on paying the bills, believe me real estate is not easy money. Do what you have to do, and don't let any of this or anyone else intimidate you. Good luck! By the way, I have a part time job, go to school full time, have a three year old, and still have time to do real estate. Sleep-no, real estate-yes!

So buddy, I am one of the agents that works full time on this market. I think that if you do something and want to be good you just need to be dedicated full time on it. Other ways you will not be profession, you just will be a person that showing houses. To part time agents will ever be uneducated. So the same think about new agents working in teams, they do not learn anything there, they just showing houses. I am sorry guys but I always recognize when I work with this kind of agents.

The fact that not all full time real estate agents are good agents has nothing to do with the fact that most part time agents are not good agents or real estate agents that will make it in the business.

There are always exceptions but I think the majority tends to think that this is a full time job that needs one's full attention.

Great thread. I am a new PT agent and agree that it will be hard to be successful at it part time. However I am PT because of a specific reason which is I am getting into flipping houses and wanted to make the extra money from my purchases and sells. Not sure how that will work out. Plus I might pick up a listing here and there on the side.