Keeping another job with a steady income can decidedly make it less stressful to begin your real estate career. Starting as a part time real estate agent could mean the difference between success and failure if commissions are slow to start. There are many real estate agents out there who have remained part-time their entire real estate career.
How one can become a part time real estate agent?
Becoming a successful part time real estate agent requires time, dedication, and a competitive edge. With these simple tips, it is easier to balance a primary job and be a successful part-time agent such as –
- Start as a seller’s agent – Working with buyers often requires more time, and is more exhausting. By starting with sellers, new real estate agents get a feel for the process of selling a home. Also, they can gain a better understanding of what buyers want and how to entice them.
- Offer multiple modes of communication – As it is necessary to stay in touch with clients throughout the day, send an email or text message when it is not possible to accept a call. One can also consider an automated reply system that sends a message acknowledging their contact and ensures a quick reply.
- Set up a client organization system – It is decisive to give new clients extra attention. Save clients as mobile contacts to determine calls from new or potential clients. Some apps and programs acquiesce storage of digital files. Make use of these apps, and choose one that can sync with all mobile devices.
- Building a strong personal brand – One of the biggest keys to success is standing out from the other agents by being unique and memorable. The use of a powerful slogan or saying should consort a personal brand image. One need to use social media platform to connect with people and set up a blog.
How many real estate agents are working part-time in the real estate market?
According to the latest report of NAR, 18% of real estate agents are working part-time. While the majority of real estate agents are still working full-time. According to the recent report of the Bureau of Labor Statistics, there are nearly 156,760 real estate agents in the US. If a similar ratio applies to the entire real estate industry. Then there could be a massive 28,216 part-time sales associates. The part-time sales associate consists of new entrants to the real estate industry, someone running it as a side business, stay-at-home parents, or retirees who want to continue participating in the workforce.
How one can work as a part-time real estate agent?
The great thing about becoming a part time real estate agent is the competence to designate how often you work. Having the opportunity to work the hours you want to aid you to create a flexible schedule that is complementary to a full-time job. Because you manage your time as a real estate, you can choose to work as often or little as you want. Some people adapt to work their full 40-hour full weekday job. Then choose to rush like a real estate agent on the weekends. However, if you are finding it difficult to find leads, close deals, and still find time to sleep, know there is another way to earn money as a part-time agent.
Is becoming a part-time real estate agent a good side hustle?
Building a side income is a great way to addendum a full-time job salary. More and more people are searching for ways to bring in a little extra cash every month. The reason being is to manage more, save money, and invest more. Having two separate income streams is one of the outstanding investments of your time. Earning a little bit of extra money never hurts anyone as doing so will benefit you by financing large purchases or saving up for a rainy day. You can exploit your earnings even more with the right kind of budgeting strategies. There are many ways by the benefit of which you can start creating your side income. One way to earn extra income is by selling real estate houses as a real estate agent.
How much a part-time agent can make?
According to the 2020 report of the National Association of Realtors (NAR) member profile, 15% of real estate agents work for 20 or fewer hours per week with median gross earnings of $10,000. These gross earning are not a lot of money, even for a part-time real estate agent’s salary. According to the same NAR survey, 5% of real estate agents working less than 20 hours a week can make over $100,000. But this survey does not differentiate between new and established agents.
Wrap Up
Whether you want to earn a few earnings every month or transition into a new, full-time career, becoming a part time real estate agent can be highly advantageous. The high stakes analogous with failing won’t weigh you down, because you still have your day job.
