What do you do if you're considering temporary or contract work in real estate development?

1 What is temporary work?

Temporary work is a short-term employment arrangement that usually lasts for a few days, weeks, or months. It is often used to fill in gaps in staffing, cover seasonal or peak demand, or complete specific tasks or projects. Temporary workers are hired by staffing agencies or employers directly, and they are paid by the hour or by the project. They typically do not receive benefits, such as health insurance, retirement plans, or paid leave, from their employers.

2 What is contract work?

Contract work is a longer-term employment arrangement that usually lasts for several months or years. It is often used to provide specialized skills, expertise, or services that are not available or needed in-house. Contract workers are hired by clients or employers directly, and they are paid by the project, by the hour, or by a fixed fee. They usually work as independent contractors or freelancers, which means they are responsible for their own taxes, insurance, and expenses. They may also have more autonomy and flexibility over their work methods, deadlines, and deliverables.

3 How do they differ?

Temporary and contract work differ in several aspects, such as duration, scope, payment, benefits, and legal status. For instance, temporary work is shorter and more variable, while contract work is longer and more stable. Additionally, temporary work is more general and routine, whereas contract work is more specific and complex. Furthermore, temporary workers are paid by the hour or by the project, while contract workers may be compensated by the project, by the hour, or by a fixed fee. Moreover, temporary work does not provide benefits, but contract work may provide some benefits depending on the contract terms and the client's policies. Lastly, temporary workers are employees of the staffing agency or the employer whereas contract workers are self-employed or independent contractors.

4 Why consider them?

Temporary and contract work in real estate development can offer a number of advantages over traditional full-time employment, such as flexibility, variety, higher income, and an expanded network. With temporary and contract work, you can choose when, where, and how much you work, and adjust your schedule according to your needs. You can also gain diverse experience by working on different projects, clients, and locations. Moreover, you can earn more money per hour or per project than full-time employees and negotiate your rates and fees based on your value and demand. Finally, you can build relationships with different employers, clients, and colleagues to expand your portfolio and reputation.

5 What are the challenges?

Temporary and contract work come with some challenges and risks that must be taken into account. These include the uncertainty of not having a steady income, the competition from other workers, the isolation of working alone or remotely, and the responsibility of handling taxes, insurance, and expenses. Additionally, there may be legal and contractual issues that need to be addressed. It is important to be prepared for these potential issues before engaging in temporary or contract work.

6 How to get started?

If you're interested in temporary or contract work in real estate development, there are some steps you can take to get started. First, assess your skills, goals, and preferences to determine what kind of work you want to do, how much you want to earn, and how much risk you can tolerate. Then, update your resume, portfolio and online presence to highlight your relevant skills and showcase your best work samples. Network and market yourself by connecting with potential employers and clients, as well as promoting your services through social media and blogs. Research and apply for opportunities on websites such as Indeed or niche sites such as Real Estate Job Site. Lastly, negotiate and manage your contracts by reviewing the terms and conditions, tracking your time and expenses, invoicing payments promptly, and keeping records of contracts and receipts.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?