Ready to Be a Part-Time Real Estate Agent?
Are you wondering if you can be a big success in your part-time career?
Many people dream about being a real estate agent because it seems like an easy job. Most people think that all an agent does is show houses, negotiate offers, and make a lot of money on each sale. They think that agents become millionaires and retire by the time they’re 35. However, very few people realize how much work real estate agents actually have to do behind the scenes.
Many people who are interested in real estate choose to work part-time as agents as a way to get started in the field. This is the recommended method by most experts because…
This text is saying that working as a part-time real estate agent is a good way to try out the job and see if you like it, without spending much money.
Before You Become a Part-Time Real Estate Agent, Ask Yourself…
While working as a part-time agent may seem like the perfect career move for you, there are a few things to consider before making the move. Ask yourself these important questions:
How flexible are you?
Many people choose a career in Real Estate because of the misconception that you can set your own hours and work whenever you want. A few examples:
- Your clients expect you to be able to be available whenever they are; otherwise, you risk losing them to a more flexible agent.
- You have to attend closings, home inspections and any required meetings at your real estate brokerage.
- Many phone calls to lenders, appraisers closing attorneys and other service providers have to occur during normal 9 to 5 business hours
The ability to work part-time for this job requires a fair amount of flexibility in terms of your primary (or other) job. If you’re not able to leave during the day, you should at least be able to monitor your email and make essential client calls in your primary job.
Can you support yourself with your primary job?
Most people who picture getting started in the real estate field think they will become rich quickly after selling a multimillion-dollar home to an eccentric tycoon. However, it is more likely that it will take a few months to sell your first home.
Even with proper training and schooling, it can be difficult to find a job in this field. The benefit of starting out part-time is that you can have another job until you are more established. It is important to make sure you can support yourself financially on your primary job before you leave it.
Are you a good multi-tasker?
A career in real estate can be very rewarding, but it is also a lot of work. You will need to be organized and detail-oriented, and good at multitasking. You will also need to be comfortable working with people and have excellent customer service skills.
Aside from your primary job, you will also need to balance any other commitments in your daily life. Being able to juggle multiple tasks is very important in this line of work, as is being good at managing your time.
Do you have a solid support system in place?
This career has some flexible aspects, but you will usually need to work according to your clients’ schedule. Having a good support system is essential for being successful as a part-time realtor.
If you have children, relying on reliable child care is a must. Having a backup plan is also very helpful, so try to find another Real Estate Agent in your brokerage who can fill in when you need the help and vice-versa.
How do you feel about working long hours?
Benefits of Working as a Part-Time Agent
Consider the following when deciding if this job is right for you: the pros and cons of your new career.
{This work} offers a lot of {benefits/options} that are appealing to {parents/those who appreciate/need} {a flexible schedule}. You can {choose to work/have the option to work} {at different times/in different places}, which can be {very helpful/a big advantage}.
If you want to take a break from work, it’s easier to do in this profession than others. As mentioned, it’s helpful to have a fellow agent you trust to cover for you.
Many entrepreneurs are attracted to the freedom of being their own boss. Being a part-time real estate agent gives you the freedom that most people don’t have, especially since most part-time realtors are independent contractors.
You can make your business as big or small as you want. Some people choose to stay a one-person operation, while others may choose to turn their eventual success into their own team or brokerage.
One of the main reasons people are interested in becoming a part-time realtor is because the amount of work you put in generally has a direct correlation to the amount of success you see. As a part-time realtor, you would also have the stability of a second income. However, the most significant benefit of working as a part-time realtor is probably one of the most apparent ones.
Not having to worry about money will allow you to focus on learning the ropes of being a realtor, giving you the best chance at success.
The Downside of Being a Part-Time Real Estate Agent
There are some downsides to being a part-time real estate agent.
Clients may doubt your commitment if they find out you work part-time as a real estate agent. Many clients feel that you won’t be dedicated to them or that you only choose part-time work because you’re inexperienced.
If you’re looking to win over hesitant clients, provide great customer service and show them that you’re devoted to them. Once you can impress them, they’ll see the benefit of having a part-time realtor.
When you’re first starting your real estate career, it can be difficult to find a good brokerage. Most brokerages won’t take on part-time realtors whose workload is less than that of full-time realtors.
There are still good brokerages for part-time workers if you keep looking. Try to find ones that offer mentorships, teams, and training experiences.
It is not easy to become a realtor and make a lot of money. Many people think that all you need to do is sell a few big properties and you will become rich quickly. The reality is that it is a hard and rewarding career that requires a lot of work and effort.
In the real estate industry, excellent customer service is key. Many agents who work part-time find that they need to put in long hours on weekends and evenings, in addition to their regular job. Getting started in this field can be demanding, and not everyone has the right personality and skills to succeed. You need to be a hard worker and have excellent time management skills to be successful.
What Is a Part-time Real Estate Agent’s Schedule?
real estate agents do not have set schedules, and their hours depend on their clients’ needs. Most part-time real estate agents work between 15 and 30 hours a week.
Getting Started as a Part-time Real Estate Agent
If you’re excited to start your new side hustle as a part-time realtor, here are three steps to get started.
1. Get Your Real Estate License
In order to offer real estate services legally in the United States, you need to be licensed as a real estate professional. Here’s a breakdown of exactly what you’ll need to do:
- Take a prelicensing course that satisfies your state’s requirements
- Take some real estate practice exams
- Pass your state test
- Register your license with your state
- Find a brokerage to work with
If you want to learn more about getting a real estate license, click here.
If you want to start taking prelicensing courses, Real Estate Express offers options in almost every state.
2. Carve Out Time in Your Schedule
Since real estate is a part-time gig, it will be essential to set some schedule boundaries right out of the gate to ensure that your real estate obligations don’t intrude on your other professional, familial, and personal commitments. Here’s a couple of pointers on how to do this:
- Tell your full-time boss you’re licensed: If you’re working a full-time job and picking up real estate on the side, let your boss know that you’ve got a new venture. Assure them that it won’t interfere with your other responsibilities, and let them know you’re ready to help with any real estate needs!
- Make a real estate schedule: Carve out some time and put it on your calendar as real estate time every single week. Make sure to share this time with your clients, so they know when you’re available to help them. You may have to be flexible on this, especially if a client is only available at certain times to meet with you, but setting expectations early is a great way to avoid scheduling mishaps.
- Set aside some non-work time: If this is your first time attempting a side hustle, you need to know that time becomes your most precious commodity. You’re going to be excited about the progress and success you’re making in real estate, but if you don’t take at least a little downtime each week, eventually, your real estate pursuits will suffer due to burnout.
3. Set Up Systems for Part-time Business Success
Although part-time realtors may devote less time to their business than full-time realtors, they will still need the same tools to be successful. The following systems need to be in place if you want to have a successful business:
- Create a real estate business plan: Whether a part-time real estate agent makes money or not depends on their ability to manage their operating costs and project their income. The best way to do this is with a real estate business plan. Here, you’ll make a plan for what you’ll spend, how much you expect to make, and be able to track your expenses along the way.
- [LEARN MORE: How to Write a Real Estate Business Plan + Templates]
- Choose a customer relationship management (CRM) system: A real estate CRM is a critical tool to help manage all your interactions with your clients, leads, and prospects. We named LionDesk our best real estate CRM of 2022.
- [LEARN MORE: The Best Real Estate CRMs of 2022]
- Build a lead generation plan: To be a successful part-time real estate agent, you’ll need leads you can turn into clients. Whether you plan to work from your sphere of influence, from paid lead sources like Market Leader or Zillow, or some other source, you’ll need a plan to generate enough leads to make your business sustainable.
- [LEARN MORE: How to Create a Custom Real Estate Lead Generation Plan + Template]
If you are looking to start a part-time real estate business, download our Part-time Real Estate Agent Launch Guide. This guide provides detailed instructions on how to make your first four weeks in the industry successful.
Recommendations from Former Part-Time Real Estate Agents…
I would only recommend part-time real estate to those who have jobs with some flexibility. I was fortunate enough to have that type of job when I got my real estate license and joined a team.
After about half a year, things were going well enough that I could quit my other job and become a full-time realtor. It can be a tough career, but the potential rewards and earnings are great.
– David Pippin
It’s very difficult to give great service to real estate clients if you’re only working part-time, because you have to be readily available to answer their questions and show them homes as soon as they hit the market. Many people believe that real estate agents can work on their own schedule, but in reality you have to be on your CLIENTS’ schedule.
I spent nine months working part-time and didn’t sell anything. I decided to go full time and it was hard, but I was so focused and knew I needed to make something happen. I closed my first home within two months and have now sold $3.0 million in real estate. I have some rave reviews from my happy clients!
– Heather Dean
Thankfully, I was very successful and my real estate business allowed me to ‘retire’ from my day job at the age of 30. I started working in real estate part-time, but thankfully my day job allowed me to work from home, so I was able to put in a lot of hours. I didn’t have any children or other obligations, so I was working at least 80 hours a week. I spent almost every night working on marketing my real estate business, and every weekend and many evenings showing homes to potential buyers. I was very successful and was able to retire from my day job at 30.
After eighteen months of working in real estate, I was making as much money as I had at my corporate job. I loved the real estate business, so I decided to work in it full time. I’ve never regretted my decision.
– Kerry Lucasse, Team Leader
In Summary
If your other job has some flexible hours and you are willing to put in extra work to market yourself and be available for your clients, starting your career as a part-time real estate agent is a good idea. It’s a great way to test whether real estate is the right career for you before making a commitment. Working part-time also gives you the opportunity to save up money so that when you do transition to working full-time, you’ll have the financial resources to invest in your business and weather any slow periods.
