The few times I've been approached amounted to a total waste. They all want Architectural Digest quality for pennies. When I tell them I won't even go out the door for less than they are offering for the entire job, they always want me to find a sucker for them.
Be selective and find good agents to work with and you may do just fine.
So very true. There are some real tightwads out there. i recently had a call from a broker who managed an agency that had most of the work in a suburban community near my city. He basically wanted a staff photographer who would shoot 5 or 6 (or more) properties a day for pennies. He assured me that there would be plenty of work and he liked what he had seen of mine. I told him I couldn't produce quality work on the schedule he wanted for what he was willing to pay. He agreed and that was that.
I taught HS bands and orchestras for 35 years. I took photographic work in summers and on weekends. Architecture was always an interest of mine so, now that I am retired from teaching and working full time as a photographer, real estate is very appealing to me.
Real estate is all time and no hard expense. My digital files are e-mailed to the client. My only photographic expense is $15 for a TourBuzz virtual tour. I already have all the cameras, lights, and software I need. A few additional lights would be nice but not essential. I am putting about 3-4 hours in each house - on site and in post - and making $200 - $250 depending on the sq ft of the house. So $50+ per hour. Not great but I'm not losing any money. I have had brokers and agents try to get me to work for less but I turn them down. As a result, I get only the best houses (they get the guys who will work for less to do the others) so I don't have to make run down stuff look good. I also get calls from agents who have clients complaining about the cheap work the agent had done and wanting better photography. I figure there is plenty of more upscale work to be done so I don't have to compete with the one flash on camera in an out in half and hour guys. And my business is growing.
But this is a specialty I want to do. I find it interesting and challenging. I have no studio. I've done plenty of weddings and will gladly do more but don't want to pursue that. Too many other businesses are trying to make money from wedding photographers. I shoot class reunions - I've done that for 30 years. The photographic challenges are not great but I make a lot of money in a single evening. I know how to light a large group and, after 35 years of teaching, I feel confident dealing with 200 drunks in one shot. I photograph some (concert) bands and orchestras on stage (I have long-standing clients that I rely on annually) and a bit of commercial/editorial work. But real estate is becoming my day to day work. The next step will be architecture of other types which I look forward to.