Nine to five, ten to six, or eight to three. Becoming a real estate agent is stepping into an industry long defined by flexibility. Flexibility still remains one of the best parts of being a real estate agent.
But what does all that flexibility mean for your schedule? Do real estate agents make their own hours? Yes, they do. As a real estate agent, you can decide how much or even how little you want to work. However, several factors, like brokerage policies, may affect your working hours.
Ensure that you discuss these factors with your principal broker before joining a firm.
In this article, we’ll delve deep into one of the most attractive aspects of real estate: flexible working hours. By reading on, you’ll gain a clear understanding of how agents manage their schedules. So, without further ado, let’s explore the benefits and downsides of making your own hours.
How Real Estate Agent Hours Vary
Every real estate agent who walks into the industry is a self-employed contractor. The exception lies with agents employed at one of the best real estate companies for new agents, Redfin. Real estate agents at Redfin are employees.
Your employment status means you can decide when and sometimes where you want to work.
Working hours for real estate agents vary significantly based on various factors. For instance, the type of real estate you practice is one of the key determinants for agents deciding their work schedule.
Commercial real estate agents typically follow more traditional 9-5 business hours. One of the reasons for this is that commercial agents deal with businesses or investors who operate within those times.
On the contrary, residential real estate agents often have to adapt their schedules according to the availability of their clients. Candidates looking to buy homes are usually your average American families who work during the day and are not always available during typical working hours. This often results in agents having to work evenings and weekends.
Another factor that plays a role in an agent’s working hours is market conditions. In a seller’s market where demand is high and supply is low, both agents might find themselves putting in extra time to secure deals for their clients. Conversely, agents might not need to work as many hours during slower periods when there are plenty of properties available but fewer buyers.
Finally, client volume is another determinant factor. An agent juggling multiple listings will naturally spend more time showing homes, negotiating contracts, and doing paperwork than one with fewer clients. As such, it isn’t uncommon for full-time successful realtors to work well over 40 hours per week, while part-timers may put in less than that.
Benefits of Making Your Own Hours
The benefits of setting your own real estate hours go beyond deciding when you will make an office appearance. Here are a few good benefits:
The flexibility can provide unparalleled autonomy, allowing you to work when it best suits you and your lifestyle. Imagine being able to pick up your kids from school every day or take that mid-morning Spanish class without having to ask for permission or rearrange a rigid schedule.
Improved Work-life Balance
Instead of being tied down by traditional 9-5 constraints, as a real estate agent, you have the freedom to shape your workdays around personal commitments and hobbies.
You’re in control, whether that means working on weekends so you can enjoy weekdays off or starting early so that evenings are free for family time.
Better Income Potential
But there’s more than just flexibility at play here. Setting your own hours may significantly impact your income potential and career growth. Deciding to put in more hours to perfect your craft could improve your lead generation and sales.
Challenges of Making Your Own Hours
Do real estate agents set their own hours? Though the answer is yes, that freedom comes with responsibility. While this flexibility may seem like a dream come true, it can quickly morph into a nightmare when not managed properly.
The irregularity and unpredictability of working around clients’ needs are among the main stressors for agents. Imagine showing up for work each day without knowing when you’ll be done or even what tasks you’ll need to tackle.
This is often the reality for many real estate professionals. The market’s fluctuations add another layer of uncertainty, making planning ahead difficult.
Yet, these challenges aren’t insurmountable. They call for honed self-discipline and time management skills, two vital attributes successful agents possess. It’s about setting boundaries while remaining flexible enough to cater to client needs efficiently.
Paving Your Way
Real estate agents do have the ability to set their own hours. This flexibility is one of the industry’s most appealing aspects and can significantly benefit those who value autonomy and work-life balance. However, much like all freedom, this flexibility demands responsibility.
The key to effectively managing your schedule as a real estate agent lies in self-discipline and time management. Despite these hurdles, making your own hours can provide opportunities for personal growth and professional development.
1. Evaluate: Review if you thrive in flexible working environments before deciding on becoming a real estate agent.
2. Learn time management: Develop good time management skills coupled with self-discipline
3. Network within the industry: Form a network of agents whose knowledge and experience can guide you
We hope this article has given you valuable insights into how flexible schedules play out in the life of a real estate agent! We’d love to hear from you if you’re a current or aspiring realtor with thoughts about setting your own hours or any other aspect of being an independent contractor in this field. Share your comments below.