Most Realtors charge by the job, not by the hour. We can of course charge by the hour. When I worked as a consultant we charged by the hour. We kept track of every hour we spent working on the project. We used software that helped us track which tasks we worked on and for how long. We would submit our billable hours to the client and receive payment.
We also got paid for every hour we worked before the project was even completed.
Most real estate agents only get paid after a successful closing. There are no billable hours and there is no payment until after the sale has closed. If there is no closing then the agent works for free. There is no limit to how many hours a real estate agent might work helping someone buy or sell real estate. It isn’t at all unusual to work for three to six months without getting paid.
Sometimes sales fall through for reasons that are beyond the real estate agent’s control and they still do not get paid.
If you want real estate agents to be accountable for how many hours they spend working on your home purchase or sale I strongly recommend paying them by the hour and paying as you go.
Your real estate agent isn’t accountable for each hour worked unless he or she is being paid by the hour.
