Weekend Real Estate Sales

[ginklord]

I work in B2B sales (IT) full time, but I used to work in real estate (had my salesperson license 10 years ago) and am now considering a switch back.

My thought is to start with just weekend work, but I'm not sure if this is reasonable. I haven't reached out to any brokers yet, but I'm hoping someone on the forum has some experience with weekend-only real estate sales.

Any thoughts? Thanks!

[frugaliknowit]

When you got your license 10 years ago, did you spend any time selling?  Full or part time?  How did you do?

[ginklord]

Not even one transaction - it was all Broker Price Opinions for financial institutions. I'd be considered a new Agent in every way, but I think my experience in professional sales should help.

I guess "switch back" wasn't the right term.

I reached out to a local broker and I have a meeting with her next week. Hopefully I can learn more then.

Thanks!

[frugaliknowit]

The problem with being part time is that in order to be successful, you probably want to list as much prudently priced property as you can.  When/if sellers (your clients) get wind of your being part time, they may pass you over for someone who is more experienced and available.

[HairyUpperLip]

My FIL has a FT job that doesn't allow him to use his personal phone during business hours.

He tried being a REA, and still has a license, several times. He tries doing what you are saying - going on the weekends and doing what he can, but he doesn't have enough time to do it properly so it never does amazing.

That being said, he's scared to leave his FT job because of good benefits and pursue REA full time but he believes he would make much more money doing it.

just my two cents.

[ginklord]

Thanks everyone!

[arebelspy]

How'd your meeting with the broker go?

[ginklord]

It was pretty interesting. They have successful full-timers and successful part-timers, and are willing to make the investment in new salespeople at all levels, even with new agents that continue to work fulltime somewhere else.

It sounds like the real estate troubles of the past few years scared away many agents, so they're trying to bolster the ranks.

They provide a ton of service (formal training, mentoring, MLS access, advertising, business cards, email blasts, desk and computer, etc) and ask that you pay $125 / month for it. No other share except for the standard commission split (3.5% / 3.5%).

My wife and I are talking about it, and my only hesitation is the time commitment - we have two little ones, and I already run a PC Service business on the side. Pretty awesome to have all of these opportunities though!

[Amosla]

Make sure that is truly the only fee of $125, I live in MN and was a Realtor for 10 years and just became a Real Estate Agent only this last year. To be a Realtor (MLS, lock box, etc.) there were numerous fees that I paid. Here's a snapshot of the fees I paid in a year.
Annual Realtor Association Fee = $479

Quarterly MLS Fee = $120 x4
Monthly Admin Fees = $85 x12
Supra Fee (lock box) = $115
Continuing Education = $100
State Licensing = ~$100

Also understand the share they take of the commission split. My last split, I kept 100% of my side of the transaction, but paid my company a transaction file fee of $395 for each deal. When I was a new agent I got 85% with no fee.

[TerriM]

As long as your area has a slow RE market, you probably only need weekends and whatever morning brokers tours are done.   I think weekend only would not fly in a fast market like SF Bay (80% of inventory is pending in 10-14 days), but Rochester should be fine.   Had a friend following RE there, and looked like houses took 100 days to sell.  Not sure you'd be able to do stuff in NYC though.

[Megma]

I am also considering doing this but wondering if it will be worth it. If you decide to go through with it, post an update I would be curious to know how it works out for you.