Real estate agents are a dime a dozen. However, good real estate agents are much rarer. If you want to get the most value possible out of your real estate transaction, you need to make sure you’re working with someone who is a full-time agent.
4 Reasons Not to Hire a Part-Time Agent
Buying or selling a house is a serious decision. It has a direct impact on your finances, mental health, relationships, career, and just about every other aspect of your life.
In fact, there’s so much pressure involved in the home purchase process that 40 percent of Americans say it’s the most stressful event in modern life. Another 44 percent say they feel nervous throughout the process. And roughly one in three homebuyers say they have shed tears at some point in the process.
In other words, buying (or selling) a house is a huge deal. And when it comes to something this important, you need a professional on your side. More specifically, you need someone whose entire career consists of facilitating smooth real estate transactions.
And though there are plenty of part-time real estate agents in the industry, we don’t recommend choosing one of them. Here are a few reasons why:
Lack of Focus
Part-time real estate agents are part-time for a reason. It means they have something else going on in their lives that’s preventing them from being a full-time agent. Sometimes they simply don’t want to be a full-time agent, while other times there’s a full-time career preventing them from making the move.
There’s nothing technically wrong with someone being a part-time agent so that they can be a full-time parent, run another business, or continue to work in another job they’re passionate about.
However, regardless of why, it creates a serious lack of focus. At a time when you need 100 percent of your agent’s focus to be on helping you buy/sell a house, they’ll unintentionally be pulled in multiple directions at once. At the very least, this lack of focus will prove frustrating. At worst, it could compromise the process.
While not always the case, most part-time real estate agents have limited experience. It’s usually a sign that they don’t do many transactions and are only partially committed to the job. There’s a reason they’re only a part-time agent (and it can usually be traced back to priorities).
On a related note, part-time agents usually have fewer industry connections. They tend to operate in a silo, which comes back to hurt you as the client. Experienced, full-time agents, on the other hand, always have the right professional on speed dial.
Take The Kay-Grant Group in Scottsdale, Arizona as an example. They’ve been in the local industry for years and have long-standing relationships with professional photographers, videographers, copywriters, home stagers, tradespeople, lenders, insurance agents, and title professionals. When clients work with them, they gain immediate access to all of these relationships too.
Part-time agents aren’t available around the clock. If an attractive listing pops up on the market on a Thursday morning, you probably can’t call your agent and set up a showing for later that afternoon. You might have to wait until Thursday evening (or even the weekend). All the while, buyers with full-time agents are already seeing the property and putting in offers.
Same Pay Rate
You don’t save money on a part-time agent. They still cost the same 3 percent that an experienced agent with decades in the industry costs. So there’s really no financial benefit of going with a part-time realtor. (And if you’re a buyer, remember that you aren’t paying the commission anyway. So you might as well hire the best full-time agent you can.)
Adding it All Up
We don’t have anything against part-time agents. This is not a personal jab against people who are attempting to earn a side hustle or get their foot in the door. However, this is a serious life decision and you want to make sure you’re getting the benefit of focus and expertise.
This is not a time to do a friend a favor or help a new agent pick up some experience. Those people can cut their teeth at someone else’s expense. Your goal is to find an agent who gives you the best chance of a favorable outcome. Good luck!