How many part time (side job) realtors are there versus how many are advanced realtors? How many of them use online tools?
We had a difficult time finding hard numbers in terms of part-time real estate agents, however all the sources we found and read indicated that most real estate agents today are working full time (40 hours per week). The difference between residential and commercial agents was rarely brought up but in the articles, most seemed to be referring to agents that sold and marketed houses. But, we were able to find consistent information regarding realtors working full time and online tools used by realtors. Information came from trustworthy sources. However, we were unable to find actual numbers (e.g. 22% of 2 million agents are working part-time).
Part time vs. full time independent real estate agents
People who are just starting out as a realtor often make the choice to keep their current full time job as they "test the waters" in the real estate agent market to determine if it is the right fit for their career. Many people have very successful careers as a part-time realtor.
And "the Association of Real Estate License Law Officials (ARELLO) estimates that there are about 2 million active real estate licensees in the United States."
Starting with some basic numbers and statistics about United States Realtors. For both commercial and residential (according to these numbers), "Most Realtors worked 40 hours per week in 2016." Those numbers indicate that the vast majority of real estate agents are working full time.
These statistics refer to both commercial and residential real estate agents: "The Bureau of Labor Statistics projects 6 percent job growth for real estate sales agents between 2016 and 2026. During that time period, 21,700 new jobs will open up. The real estate market is sensitive to fluctuations in the economy, so employment of real estate agents will vary accordingly. " By looking at the data from the previously cited sources stating that a majority of real estate agents are working full time so the overall amount of jobs for real estate agents will steadily increase over the next ten years. And from that information it can be assumed that even more people will opt to work full time (40 hour weeks) as a realtor.
Online tools used by realtors
There is no way to replace the tried and true, traditional (non online/tech related) tools that have been used by realtors; tools like yard signs and business cards. But in the present day it is highly imperative that real estate agents utilize online tools and technology to get the most out of their career. Again, there were no hard numbers available about the amount of realtors who use online tools, but The National Association of Realtors states that "91% of realtors use social media to some extent." So, based on this statistic from NAR it can be assumed that the majority of realtors take advantage of online tools to promote their businesses.
The Agent Redefined website lists many of the top online/tech tools used by realtors:
1. Social Media Platforms (Facebook, Youtube, LinkedIn)
4. Dot Loop
7. MileIQ smartphone app
8. Cloud Storage (Google Drive, DropBox, iCloud, etc.)
Also, related to online tools, it was noted that in the next year, many realtors plan on replacing or purchasing new iPads, smartphones, and digital cameras for their job.
In conclusion, we were unable to find hard numbers stating how many realtors work part-time or full-time and how many use online tools. But, based on the available information, we determined that the majority of real estate agents working today are working full time (40 hours per week or more) and the majority are taking advantage of online tools and are utilizing them to make more commission than in the past.