How Many Hours on Average do Realtors Spend Per Client?
Being a realtor isn’t one of the most straightforward jobs out there. Real estate agents don’t charge per hour and only get a commission whenever they close a deal. This means that there is no such thing as a typical day for a realtor. Each new day opens its own opportunities and challenges that the real estate agent must deal and work through.
How Much Time Does a Realtor Spend on Each Client?
There is no specific time per engagement or billable hours. The amount of time spent on each client will vary widely. If you are selling a home, your time will vary depending on the asking price, the property’s value, its condition, and its location. If it is in high demand, you might be done with the transaction in under a week.
For buyer’s agents, the time involved can be a bit more since they have to inspect a couple of properties before making the buying decision. Again, this will vary depending on:
- How choosy the client is.
- The quality of listings the realtor has at hand.
- Any associated complexities with listed property.
- The customer’s budget.
- Current property prices in the region.
- Available inventory.
If you’re lucky enough to find a lucrative listing with no associated problems, you can seal the deal in under 20 working hours. But it’s not uncommon for a real estate agent to spend up to six months in a single transaction that could either end successfully or fall apart if the buyer doesn’t agree to the seller’s terms.
How Many Hours Do Real Estate Agents Work?
According to a survey in 2013, almost 50 percent of realtors spend at least 40 hours a week at work. Less than 22 percent of the respondents in the survey worked for less than 30 hours a week.
According to the report, around 58 percent spend most of their hours in an office meeting clients or catching up with paperwork while 28 percent spend more time on-site and handling other business-related issues.
Even though the research showed that most realtors spend around an hour a day marketing themselves or their listing and several hours looking for new leads, all realtors still spent reasonable hours showcasing their listing to potential clients. The time spent with a client is usually split between the office hours and actual on-site visits. The hours spent handling the client’s paperwork weren’t captured in the report.
Do the Hours Spent Matter?
In short-no. The time the realtor spends on the property doesn’t really matter. In most cases, good real estate agents will do whatever it takes to get the deal done. This is because they know they can only make a profit after they have helped you buy or sell your property.
To make ends meet, most focus on working multiple properties at a time. By splitting time among different clients, they increase their chances of making a monthly profit no matter what.
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