If you are a new real estate agent, you might wonder how many hours do real estate agents work. Here is all you need to know to make the most of your real estate career.
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How Many Hours Do Real Estate Agents Work?
As a real estate agent, you are always on the go. You are working with clients, showing homes, attending open houses and more. It is a demanding job that requires a lot of your time and energy.
So, how many hours do real estate agents work?
The answer may surprise you.
According to a recent survey, the average real estate agent works 44 hours per week. This includes working with clients, showing homes, attending open houses and more.
While 44 hours may seem like a lot, it is important to remember that agents are their bosses. This means they can work the best hours for themselves and their real estate business.
Do the Hours they Work Matter?
No! It’s common for realtors to spend a lot of time with real estate clients, especially when they first meet. However, the time they spend with you doesn’t impact how much commission they make. This is because most agents only make money after they’ve helped their clients sell or buy a property.
Most agents take on more than one property at once. By dividing their time between several clients, they ensure they can still make a profit every month.
How Much do Agents Make?
Most agents don’t earn a regular paycheck. They make money through commission, which is usually a percentage of the final selling price of a property or, more commonly, a fixed flat fee.
Typically, you only get paid when you close a deal. This could mean that you work hard for weeks, even months, before you finally make a sale.
According to the Bureau of Labor Statistics, the mean annual income for real estate agents in the U.S. was $61,480 in May 2021.
You usually don’t get to keep the whole commission when you make a sale. That’s because the fee is usually split between the other agents involved in the deal. The commission is divided into 4:
- The listing agent: The agent who listed the property for the seller.
- Listing broker: This is the brokerage the listing agent works for.
- Buyer’s agent: The agent who represents the buyer
- Buyer’s agent’s broker: The brokerage the buyer’s agent works for.
Are you financially stable enough to take months or even a year off? Are you willing to put in 40 hours a week or more? Successful agents are available 24/7, and you must be willing to work odd hours. Are you willing to give up your social life?
Factors that Influence How Many Hours You Work
You have much control over your work schedule as a real estate agent. You can set your hours and work as little or as much as you want. However, a few factors can influence how many hours you work.
The type of real estate you specialize in can affect your work schedule. For example, if you work in commercial real estate, you may have to work longer hours to accommodate your clients’ schedules. Or, if you work in residential real estate, you may have more flexibility in your schedule.
The location of your real estate business can also affect how many hours you work. You may not have as much work as an agent in a smaller town in a big city. This is because there are usually more people buying and selling homes in big cities.
The size of your real estate team can also impact your work hours. If you work on a team of agents, you may have to work longer hours to cover for your team members. Or, if you work alone, you may be able to set your hours and work fewer hours.
Other factors include:
- The agent’s marketing strategy.
- The agent’s experience level.
- The current state of the real estate market.
Tips for Managing Your Time if You’re a Busy Real Estate agent
Time management is key to success if you’re a busy real estate agent. Here are a few tips to help you manage your time:
1. Set priorities
Know what your top priorities are and focus on those first.
2. Stay organized
Keep your workspace and schedule organized to help you stay on track.
3. Don’t procrastinate
When you have a task, do it instead of putting it off.
4. Delegate
Learn to delegate tasks to others so you can focus on the most important things.
5. Take breaks
Make sure to take breaks throughout the day to avoid burnout.
Why do You Need to Track Your Work Hours
If you’re employed, you must track how much time you spend on your work. If you don’t, you risk overworking yourself and not being paid for all your time. However, most employees are paid for every hour they work over 40 a week.
But, as self-employed, it can be easy to think that any hours over 40 a week are extra time and not work. This often happens when you don’t track how many hours you work and exceed your weekly target by 10 or 15.
How to Track Your Work Hours?
It can be easy to spend too much time on work; whether it’s crunching the numbers or keeping an ear out for possible business, it can be hard to set boundaries and not spend too much of your time on tasks that don’t pay the bills.
But there are ways to track how long you’re spending at work. You have to do it in a way that works for you. For example, if keeping track of your time in an Excel sheet sounds torturous, go old-school with a paper planner and sticky notes.
Frequently Asked Questions
What is the daily schedule of a real estate agent?
The daily schedule of a real estate agent can vary greatly, depending on the agent’s business model. Some agents work only part-time, while others may work long hours, including evenings and weekends.
Do agents have a good work-life balance?
Agents typically work long hours, often working evenings and weekends. While some agents may have more flexible schedules, most do not have a good work-life balance.
What is the busiest day of the week for Realtors?
The busiest day of the week for Realtors is typically Saturday.
Conclusion
How many hours do real estate agents work? How many hours you work as a real estate agent depends on you and your business. However, an average real estate agent works 44 hours per week. You can probably decide you want to work fewer hours. But if you want to work more hours, you may have to put in the extra effort to make it happen.
If you are thinking about becoming a real estate agent or are already one, it is important to remember that the job requires a lot of time and energy. However, it is also a very rewarding career that offers much flexibility.
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