As a real estate agent, you’re essentially an entrepreneur. Real estate agents receive all of the benefits that come with being self-employed like being your own boss, making your own schedule, and having a seemingly unlimited earning potential. All of this combined means agents don’t have the standard taxes or health benefits that employees receive.
Real estate agents are typically considered independent contractors with their brokerages as they work fully on commission. This means that real estate agents have to earn benefits like most contractors do: on their own. Here are a few steps you can take to earn benefits as a real estate agent.
REALTORS® Insurance Marketplace
If you are a member of the National Association of REALTORS®, you can easily access information on various insurance plans through the NARS Insurance Marketplace. With the free-to-use site, members have the ability to shop around and compare different types of health and wellness insurance plans to find the most affordable ones. If you are a member of NARS, this could be a simple solution for finding an insurance plan or a combination of plans. Whether you’re looking for health, dental, or vision, the Insurance Marketplace is a one-stop shop for all things insurance.
Through your brokerage
There are some brokerages, like Keller Williams, for example, that offer their agents access to health insurance packages. Similar to the NARS Insurance Marketplace, Keller Williams offers a platform for their agents to use to find an insurance plan that works best for them. The platform even offers short-term plans if you’re looking for something less permanent or are going through a period of transition.
Through a family member
If your spouse is employed and has access to health benefits, you can purchase a plan together for a combined policy. This is a common option to choose if you happened to be married and are seeking the most affordable option for you and your family. Joining your spouse’s policy can alleviate the stress of searching for an affordable healthcare plan as an independent contractor, giving you more time to focus on the job rather than worry about insurance plans.
Consider an additional job
There’s no question that real estate agents are busy people. But with a flexible schedule that you can build yourself, you can potentially make time in your schedule for another form of employment. Getting another job, whether it’s part-time or full-time, can help ease the search for an affordable healthcare plan as you can potentially find an employer that offers benefits. While this may not be ideal for agents with a full schedule on their plate, those who are able to take real estate on part-time should consider an additional job that offers benefits to supplement their current situation.