In recent times, the term freelancer has become a very common word. A freelancer, or an Independent Contractor works on his own. Such a person is not employed under any organisation nor is he run by an employee and employer contract.
An Independent Contractor primarily means a person or an entity who works as a non-employee. Another term that can be used to mean an Independent Contractor is a freelancer. The nature of the work done is on a contractual basis.
The biggest perk of being an Independent Contractor is that it is self-employment. This kind of work gives full freedom to work as and when one likes. On the other hand, a sense of responsibility for dispatching the assignments, and projects and working well on time is pivotal. This is quite a common scenario in real estate.
Some of the features of an Independent Contractor are:
Since an Independent Contractor is also a freelancer or a self-employed individual. Such an entity is not bound by any fixed office or over-time working hours. This concept is just the reverse of employees who are bound by the employment contract of an organisation.
This job comes with a lot of responsibility since one is not bound by anything, unlike an employee. A freelancer in real estate has to allow time to complete the work and meet the deadline as there is innumerable paperwork that needs to be done.
With time, to maintain a sanguinity, a contractual agreement relating to the field of real estate is entered into by the freelancer and the organisation. This prevents an Independent contractor from escaping without completing the assignments as it involves a lot of sensitive information and documents about properties.
There are various provisions or clauses mentioned in a contractual agreement pertaining to real estate. The employer or the management of the organisation may apprehend a violation of the clauses or provisions by the freelancer. Thereafter, legal action can be taken against such an entity.
A person even besides a full time who gets some time for freelancing can opt for this. This helps in making some extra money to solve financial stringencies.
To conclude, an Independent contractor is the boss of his work but it comes with a lot of responsibility and challenges of meeting the deadline. At present, such a concept is increasing with time. The start-ups, small companies, and the IT sector are now filled up with such work opportunities and a good number of the young herd is flocking to this opportunity.
