The economic downturn and housing crisis have been tough on many Americans, and some real estate professionals have been hit especially hard. I have talked to many real estate agents, appraisers, and mortgage professionals who went from busy to super slow in a matter of months.

There have been bright spots with sales motivated by the first time home buyer tax credit and a recent uptick in refinances due to record low mortgage rates, but the past couple of years have not been kind to many smart, driven, hard working, and experienced individuals in the real estate industry. Recently I have heard of more and more professionals say they have decided to or are considering scaling back their real estate work to part time and finding another part time job to help them stay afloat.

While I understand the thinking behind this, and admire the willingness to be flexible, I think it is important to really think through the following issues before wholly or partially giving up a profession you love and have seen success in.

3 Questions to Ask Yourself Before Becoming a Part-Time Realtor in a Tough Economy

1. Will I be able to serve my customers well as a part-time agent?
   If not why would you ask a buyer or seller to stay with you? In this market you need something that sets you apart from everyone else – for the better. If another part time job means not returning phone calls or emails promptly, being unable to accommodate a client’s schedule for showings, and not giving 100% to the homes you have listed for sale and the home search for your buyers it’s not fair to you or your clients. It will also only mean more stress and anxiety for you as you feel that you are letting people down.
2. Will I be poised to reenter the market full force when it improves?
   Most of us in the industry believe real estate values will begin to rise again, and that the market will pick up before too long. Call it the American spirit…or crazy optimism. When the market does rebound will you want to be right back in the thick of things? If you take a step back what will you do to keep your skills sharp, and to stay up to date on the market? How will you stay in front of your client and referral base so they know who to turn to when it’s time to buy or sell a home?
3. Will my income be higher with two part time jobs?
   Sometimes the allure of a steady paycheck doesn’t translate to an actual increase in income. Consider what the part time position pays per hour. Do you see any opportunity to make some changes to your current business that would allow you to increase your income or decrease your expenses by that amount? Sometimes some creative thinking or focused effort will pay off more than moonlighting as a bartender.

If after thinking it through it makes the most sense for you to seek another position, first see if you can find something that is still related to the real estate industry. Your existing skill set will make you a great candidate potentially allowing you to bypass entry level jobs, and it will help you stay connected to real estate. Some examples include leasing consultant or property manager at an apartment or office complex, sales agent for a new home builder, relocation specialist for a large corporation, or even receptionist or administrative assistant for a real estate brokerage.

If you do set your sights outside the industry watch out for employment scams that are especially prevalent in this tough economy. Be wary of any position that requires you to make an up front investment.

Real estate agents looking to showcase home listings can sign up for HomeGain-branded single property websites, powered by AgencyLogic

Today we announced the launch of HomeGain Single Property Websites in partnership with AgencyLogic. Read full press release.

The HomeGain Single Property Websites enable real estate agents and brokers to showcase a single home listing to potential buyers and sellers.

Free to use in a listing presentation, each single property website includes:

• A custom domain name
• Ability to add videos and unlimited photos
• Syndication to the major search engines
• Sharing on social sites like Facebook and Twitter
• And more

“These single property websites are an excellent marketing tool for Realtors® to help sell their clients’ homes,” commented Louis Cammarosano, General Manager of HomeGain.

“Single property websites are a perfect addition to the existing HomeGain product line and compliment the many other ways the company helps Realtors,” said Stephen Fells, Chief Executive Officer and Co-Founder of AgencyLogic.

Get pricing and learn more about HomeGain Single Property Websites or call (866) 512-7913.

Congratulations to our next 5 real estate agent winners from the Agent Appreciation 2010 competitions!

Week 2 Winners – Metaphor Madness:

“What’s your best metaphor for what HomeGain does for you?”

1. “HomeGain is the dark chocolate that makes a depressed market feel all better.” Steve M. of Prudential Americana ($50 Amazon.com gift card winner)
2. “HomeGain is the fuel in my gas tank!” Karen K. of TX Property Shop (Max bobblehead winner)
3. “HomeGain is the shining star in my Real Estate universe.” L.B. M. of Realty USA (Max winner)
4. “HomeGain is the cream of my crop.” Don S. of Re/Max Properties SW (Max winner)
5. “HomeGain is the butter on my bread.” Edward R. of 3DX Real Estate (Max winner)

See all 23 finalist metaphors. What’s your favorite? (Personally, I loved, “HomeGain is the special sauce on my Big Mac.”)

Week 3 Competition: Ring Ring Hello — and get a head start on Week 4 Competition!

Thanks to everyone for their participation. We’ll announce the next 5 winners next Monday.

Maybe you got one because you liked the idea of staying connected even while out of the office. Maybe you were drawn in by all the exciting “apps.” Or maybe it was the best deal when it came time to upgrade your cell phone. Whatever the reason for its purchase, if you have a smartphone (one that offers more advanced computing fuctions) are you making the best use of it to help your business?

Real estate professionals are especially likely to be aided by a smartphone. Rarely are they tied to a desk all day, and even more rarely do they work a “normal” 9 to 5 schedule.

Here are 6 functions that might make your job a bit easier:

1. Email – Having mobile access to email is often one of the primary attractions of a smartphone. If your company email doesn’t support mobile phone use you may be able to log into your webmail account using the internet browser on your phone. Alternatively you may be able to auto forward a copy of each email to a gmail or other personal address that you will be able to receive on your phone. Check with your company to be sure this is permitted.
2. The MLS – Stay on top of new listings by keeping the MLS at your fingertips. Access it through your web browser or through one of the many available MLS Applications. A company called Smarter Agent has even created an MLS App you can customize with your name and logo and offer to your clients.
3. Social Networking – If you are using Facebook, Twitter, FourSquare, or any other social networking platforms in order to stay in front of your clients you are probably aware that these tools are only successful when you continue to provide current and interesting content. Stay connected using your smartphone and you can update your status or weigh in on a conversation on the go. Continue reading this post

Join us welcoming our next Guest Blogger, Anna Platz, to the HomeGain Blog.

Anna is a real estate and home finance marketing expert who has years of experience in mortgage and in helping real estate professionals promote themselves and their services through online marketing.

She is a regular blogger on real estate and mortgage industry blog WannaNetwork.com along with fellow HomeGain guest bloggers Tony Sena, Alex Cortez, Wayne Long and Marc Rasmussen.

We look forward to Anna’s future posts about home finance and tips for Realtors for marketing themselves to their clients!

Maintaining a daily blog content schedule is challenging for full-time real estate agents who dedicate most of their energy to serving the needs of their clients, which is why it’s a good idea to tap the expertise of your local transactional partners for guest posts.

While there are literally thousands of topics real estate agents can blog about that may answer important home buying questions, it’s nearly impossible to publish a complete guide to home ownership without leaning on some of your business partners for a little help.

One of the main benefits of having a comprehensive real estate blog is being able to email quick answers to clients and prospects with a link to an article you’ve written on your own site.

However, as we know, one simple Q&A can easily lead to 10 additional questions as your clients start to realize that every scenario comes with its own unique set of circumstances.

A major frustration many agents have with their lending partners is their lack of communication or timeliness in responding to important questions that may mean the difference between investing a weekend showing homes or waiting a few extra business days for a full underwritten loan approval letter.

The last thing you want is for a client to start searching around the Internet for credit or down payment related answers and then have them end up in another agent’s marketing web. Continue reading this post