The Best Brokerage For Part-time Agents
Real estate agents are often full-time professionals working unstructured hours that extend to weekends and holidays. However, some agents prefer to work part-time for various reasons.
Whether working full-time on another professional, you’re a retiree, or a student, working part-time as a real estate agent can offer flexibility and additional income.
Finding the right brokerage is key to maintaining independence and flexibility, and retaining more of your hard-earned revenue. This article will explore the best brokerage options for part-time agents, considering factors such as monthly fees and commission splits,ts as well the s support and training offered.
What Should Part-Time Real Estate Agents Look For?
Real estate agents seeking part-time opportunities have unique needs. Regardless of their reason, part-time agents need flexibility, support, and cost-effective solutions.
Flexibility is crucial for agents to balance other life commitments that keep them from pursuing real estate full-time. These could be school, a family, or another occupation. Part-time agents need a flexible schedule to work at their own discretion without penalties.
Another factor to consider when choosing a brokerage is available support. Ongoing Support is key for part-time agents. It can be in the form of learning materials, tools, and resources or a network of professionals who mentor them.
Cost-effectiveness is also a key consideration, especially since part-timers make less revenue than their full-time counterparts. Fees and commission splits are also priority considerations when choosing a brokerage.
The Best Real Estate Companies For New Agents Working Part Time
Choosing a brokerage is a crucial decision for every real estate agent and more challenging for new agents. Without any experience in the industry, it’s tough to choose among the numerous firms available.
While best is relative, there are companies with a consistently good record of offering top support to their agents. Joining these firms as a newbie part-timer can help solidify your career for growth and success.
To help you choose a part-time real estate agent brokerage partner, we have compiled the best real estate companies in three main categories: virtual, traditional, and independent brokerages. Here’s a quick comparison table to help you visualize the differences:
Brokerage | Agent Split | Annual Cap | Startup Fee | Monthly Fee | Transaction Fee |
|---|---|---|---|---|---|
eXp Realty | 80/20 | $16,000 | $149 | $85 | $25 |
Keller Williams | 70/30 | $21,000 | $75-$100 | $0-$100 | $25-$50 |
Realty ONE Group | 80/20 | None | $299 | $65 | $299 |
Berkshire Hathaway | 70/30 | None | $100-$300 | Varies | $25-$50 |
Century 21 | 60/40 | None | $200-$300 | $0-$150 | $350 |
Virtual Brokerages
Virtual brokerages are cloud-based real estate firms that allow agents to work from anywhere in the world. Their most significant appeal is unparalleled flexibility and technology integration.
Two of the best virtual real estate firms for part-time agents include:
eXp Realty
eXp Realty is one of the fastest-growing virtual real estate brokerages in the country. It is renowned for its innovative cloud-based model, which offers unparalleled flexibility for real estate agents.
Why eXp Realty is a Great Fit for Part-Time Agents
Flexibility
eXp Realty offers part-time the flexibility they need to be successful as their carers and make time for other commitments in their lives. As a virtual brokerage, eXp allows agents to work from anywhere at any time. The absence of a restrictive physical office allows part-time agents the freedom to take full control of their schedules.
Innovative Technology
eXp Realty offers some of the best software tools in the industry. Part-time agents get access to a customer relationship manager, CRM, a virtual university with training tools and materials, and access to virtual collaboration.
Training ad Support
eXp University offers a robust training program where agents access mentorship, coaching, and support from veteran agents and other eXp Realty members.
Stock Ownership
Agents joining eXp Realty get a chance to own a part of their new brokerage firm through stock options. Part-time agents can build equity through eXp stocks and reap the long-term benefits of this investment.
Networking Opportunities
eXp Realty is a melting point of more than 87,000 real estate agents from all walks of life. Its virtual compass offers these agents a virtual networking opportunity to share knowledge and receive support. Agents also get a chance to refer business to each other, regardless of location.
eXp Realty is a great fit for agents seeking a part-time opportunity with flexibility, technology support, and the potential for stock ownership while maintaining a healthy work-life balance.
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LTP Realty
LTP Realty offers a transaction-based fee structure, which is a welcome alternative to traditional commission splits.
How LTP Realty Works for Part-Time Agents
- A transaction-based fee is when the agent pays a flat fee per transaction. This fee covers brokerage services, technology, and support.
- Agent independence is paramount at LPT Realty, with members afforded the freedom that comes with working for a virtual company.
- Technology and support are added advantages for part-time real estate agents seeking tools and resources to streamline their work and dedicate more time to serving clients.
LPT Realty offers part-time agents a hoard of benefits, including:
- Potential for higher earnings through eliminating traditional commission splits. This model allows agents to retain a higher percentage of their earnings.
- Stable and predictable transaction fees allow agents to budget their income streams better.
- Part-time agents get the freedom to structure their business at will for what works best for them.
LPT Realty is an excellent option for real estate agents who want to maximize their earnings and maintain flexibility.
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Traditional Brokerages
Traditional brokerages are the first choice for most new agents in the industry. Here’s a look at the top traditional brokerages and what they offer for part-time agents:
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Kelly Williams
Kelly Williams is a strong candidate for part-time real estate agents. They have built a solid reputation for their training programs and strong support system.
Benefits for Part-Time Agents
- Keller Williams offers extensive training programs and workshops to enhance agent skills and knowledge.
- The brokerage offers competitive commission splits where the agent keeps 70% of the commission; 30% goes to the brokerage.
- Part-time agents have access to Keller Williams technology platforms, such as Command, for CRM, marketing, lead generation, and more.
Keller Williams is ideal for agents who value structured training and a strong support network.
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RE/MAX
RE/MAX is an established brand known for its extensive reach and global presence. Due to its flexible structure, strong support systems, and well-recognized brand presence, it can be a good choice for part-time agents.
Considerations for Part-Time Agents
- The agent split is 70/30, with the agent keeping 70% of their earnings. RE/MAX does not offer a cap system.
- Agents pay monthly fees for office space ranging from $0 to $150 to cover administrative costs and some support services.
- The RE/MAX University offers tools and resources in extensive training programs that aim to equip agents with the best skillset for maximum revenue generation.
- The brokerage offers technological support to streamline lead generation and transaction management.
- Part-time agents get access to a global network of industry professionals for collaboration and support.
RE/MAX offers flexibility and independence to part-time agents while providing much-needed tools and resources for success.
The Future Of Part-Time Real Estate Agents
The real estate industry is always evolving to meet the changing needs of agents and clients. In response to agents who are seeking part-time opportunities, brokerage firms have created favorable conditions to ensure success and work-life balance.
One such innovative initiative is the eXp Referral Division. The eXp Referral Division allows agents to work part-time through a referral system. Agents generate income and reduce costs by cutting down on board and MLS fees while maintaining an active license.
Find out if the eXp Referral Division is right for you in our in-depth guide.
