When times get tough for agents, they think about supplementing their incomes with another job. Historically, these jobs have been in affiliated fields: appraisal, title, or insurance. But, now, those jobs are as tenuous as is real estate sales. So, the trend is for agents to seek ‘outside’ employment.
The Dual Career Agent
In his one of his trends report, Stefan Swanepoel states that the NAR Member Profile reveals that only 22% of agents under two years in the business say that real estate is their primary source of income. And, a full 10% work less than 40 hours a week. 40% of agents say they work 40 hours a week. There are obvious reasons why newer agents supplement their income, but, it is good for them? Is it good for the client?
The Client Demands Much More Today
The California Association of Realtors’ consumer survey gives stunning, and disturbing customer satisfaction ratings of Realtors. The overall satisfaction rating of the service the Realtor provides has dropped from a high in 2005 for Internet buyers of almost 90%, to a low (what a low!) of 4% ! From other facets of the California survey, it’s utterly apparent that the consumer is not happy at all with the level of service.
Agent Needs and Client Demands Collide
How will the client get the service he/she demands and expects, while more and more agents devote less and less time to them? I know, from selling real estate for a long time, that the client just can’t be served when the agent has another demanding time commitment, whether that demand is from the kids or from another job. In fact, those demands tear the agent away from his/her needed professional development—and from recognizing and fulfilling the needs the client communicates to the agent.
‘Dual Career’ Agents will not Command the ‘Generous’ Commission Most Agents Want
So, if you want to reap those generous commissions, it’s time now to commit to the highest level service you can possibly deliver. If you are full-time, communicate that with a vengeance (gracefully, of course), to your potential clients. That’s what they want, and, if you can deliver, you’ll gain dramatically in this tumultuous market.
Instead of giving up so soon and taking another job, look at your work habits. Are you committing 100% + to your career now? What can you do differently? Get Up ad Running in 30 Days and follow the start-up plan as though you had a ‘real job’. That will assure your success!