I know some part-time Boston real estate agents who do a fantastic job and some full-time agents who do a crummy job. Some folks would be surprised to learn that those agents who have a lot of listings are not always the agents who do the best job. In fact, there was a study done that indicated that agents who take on too many listings end up getting less money for the homes they list and they stay on the market longer.
As a full-time Boston real estate broker myself I see it as a full-time job but that is my choice and I took a risk by leaving the corporate world and joining the world of self-employment and 100% commissioned sales. I have been a full-time agent for 20 plus years and I know it isn’t for everyone.
There are part-time agents who do a phenomenal job. There are also some who don’t do much at all and who can never return phone calls or emails during business hours which can really slow negotiations or closings.
Go ahead and ask the agents you interview if they are full-time or part-time. If they are part-time make sure their hours of business are compatible with yours. Experience is important too. Ask the agent how many homes they have sold.
There are a lot of wonderful agents in the metro area. Find one who will do a good job and is easy to work with. Do they answer questions? Do they answer the phone? A part-time agent may be the perfect choice if the alternative is an agent with 25 listings and a team to manage.
There are also real estate agents who kind of dabble in real estate thinking they can make an easy buck or two. They might not be the best choice even if they are a cousin or an uncle or an in-law.
Yesterday, I did a showing with a discount real estate brokerage firm. My client asked the listing broker some basic questions about the property. His repose floored me “To tell you the truth I only get .5% of the commission and I only do this part-time, so please don’t ask me too many questions.” Huh?
I think it’s time that Massachusetts raises the bar on the license requirements to list and show properties.
Did you know; 75% of all real estate agents fail within their first two years of business, yet still have a valid Ma license.
Boston has 5,000 licensed real estate agents/brokers in Greater Boston. Presently we have 115 multi-families for sale, 108 single-family homes, and 490 Boston condos. Do the math.
The video below digs a little deeper into the issue with a touch of humor.
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