- Many real estate brokers and sales agents work more than 40 hours per week. They often work evenings and weekends to accommodate clients’ schedules. Many brokers and sales agents spend a significant amount of time networking and attending community events to meet potential clients.
- 1 What hours do most real estate agents work?
- 2 How many hours do estate agents work?
- 3 Does a Realtor work everyday?
- 4 Why do most realtors fail?
- 5 Why I quit being a real estate agent?
- 6 Do estate agents work 6 days a week?
- 7 Do estate agents earn well?
- 8 Is it stressful being an estate agent?
- 9 What are the cons of being a real estate agent?
- 10 How long does it take to become a real estate agent?
- 11 What do real estate agents wear?
- 12 How many houses do I need to sell to make 100k?
- 13 Is real estate agent a dying career?
- 14 Is real estate a good career in 2020?
- 15 How Many Hours on Average do Realtors Spend Per Client?
- 16 How Much Time Does a Realtor Spend on Each Client?
- 17 How Many Hours Do Real Estate Agents Work?
- 18 Do the Hours Spent Matter?
- 19 Become an Agent
- 20 Real Estate Agent Reviews and Advice
- 21 How to get a Job asa Real Estate Agent
- 22 Job Satisfaction
- 23 What is the Job Like?
- 24 Why Real Estate Agents Love the New 9 to 5
- 25 Flexibility of the new 9-to-5 in real estate
- 26 Living with all this flexibility of the new 9-to-5
- 27 Becoming a Part-time Real Estate Agent—Can It Work for You?
- 28 What to Expect in a Part-time Real Estate Agent Career
- 29 Part-time Real Estate Agent Salary
- 30 ProsCons of Being a Part-time Real Estate Agent
- 31 Alternative Part-time Real Estate Careers
- 32 Who Part-time Real Estate Work Is Right For
- 33 How to Be a Successful Part-time Real Estate Agent in 7 Steps
- 33.1 1. Determine Your Level of Flexibility
- 33.2 2. Ensure You Have Adequate Existing Financial Stability
- 33.3 3. Find the Right Brokerage
- 33.4 4. NetworkGrow Your Sphere of Influence
- 33.5 5. Make Use of Lead Generation Tools
- 33.6 6. Market Yourself
- 33.7 7. Master Time Management
- 34 Frequently Asked Questions (FAQs)
- 35 Bottom Line
- 36 Can You Be a Part-time Real Estate Agent?
- 37 Is a Part-time Real Estate Career Right for You?
- 38 Getting Started as a Part-time Real Estate Agent
- 39 Part-time Real Estate Agent Resources
- 39.1 Real Estate 101: How You Make Money
- 39.2 Understanding Operating Expenses of a Part-time Real Estate Agent
- 39.3 3 Tips for Balancing Your Part-time Real Estate Career With Your Full-time Job
- 39.4 Competing for Business With Full-time Agents: The Secret to Success
- 39.5 Part-time Real Estate Agent Launch Guide
- 40 Your Turn
- 41 Part-Time Real Estate Agent: What You Need to Know
- 42 Can one succeed as a part-time real estate agent?
- 43 What is a prototypical day for a part-time real estate agent?
- 44 What are the benefits of working as a part-time real estate agent?
- 45 The downside of a part-time real estate career
- 46 How much do part real estate agents make on average?
- 47 How to calculate your earnings as a part-time real estate agent
- 48 What do you need to become a part-time real estate agent?
- 49 Want To Partner with me to scale your Real Estate business?
What hours do most real estate agents work?
New agents expecting a short workweek are in for a rude awakening: Only 22 percent of real estate agents work fewer than 30 hours a week. Nearly half (49 percent) work 40 hours or more. What’s more, over half (53 percent) say they work the same hours or longer today than they did their first year.
How many hours do estate agents work?
Hours. Estate Agency is a service industry, therefore you should be willing to provide one! This involves making yourself available to the public outside normal working hours. On average, the hours tend to be 8.30/9.00am through to 6.30/7.00pm Monday to Friday, with varying amounts of weekend work.
Does a Realtor work everyday?
As with any career path, a Realtor’s tasks will vary day-to-day. However, there are several tasks a Realtor typically completes on a daily basis. If you enjoy having a predictable lifestyle and a 9 to 5 career, being a Realtor may not be an enjoyable career path for you.
Why do most realtors fail?
Failing To Set Goals & Action Plans Is A Common Reason Why Most Real Estate Agents Fail! Goal setting and action plans are a critical part of any successful business. Most real estate agents fail because they don’t understand how to properly set goals or create action plans.
Why I quit being a real estate agent?
Most new real estate agents quit their first year because of the emotional toll of “fear of failure” and rejection. Nobody likes to feel rejected. Rejection is part of the job but remember that people are not rejecting you. They are rejecting the notion of buying or selling at that time.
Do estate agents work 6 days a week?
Life as an estate agent is arduous. We work six days a week, 12 hours a day. We work together and socialise together, but we are also pitted against one another as we battle for deals. It’s a punishing regime and the pressure is palpable.
Do estate agents earn well?
According to figures from unitedpropertyconnect.com, UK residential estate agents make an average salary of £41,392, that’s much higher than the UK average salary. With years of experience under their belts, successful and experienced agents can earn anything between £50,000- £100,000.
Is it stressful being an estate agent?
You’re not alone – estate agents endure the most stress at work ahead of broadcasters and police officers, according to a new survey of UK professionals. 86% of estate agents canvassed by the Boundless Happiness Survey recently said they experienced some sort of stress at work and 43% said they were ‘very stressed’.
What are the cons of being a real estate agent?
List of the Cons of Being a Real Estate Agent
- You might find yourself working a lot of hours every day.
- There are no income safety nets in place for real estate agents.
- Most of your customers will have a single transaction through you.
- There are limits on how far you can go with this career.
How long does it take to become a real estate agent?
You can become a real estate agent in about four to six months, depending on where you live. Online prelicensing classes can speed up the process. Requirements vary by state, but the general steps are to take a real estate prelicensing course, take the licensing exam, activate your license, and join a brokerage.
What do real estate agents wear?
No matter the situation, most agents opt for business casual. Simple khakis and a button-down shirt usually fall in the safe zone for real estate wardrobes. For women, a pencil skirt or dress pants with a nice top is usually appropriate. Sometimes you may be more concerned about standing out and less about fitting in.
How many houses do I need to sell to make 100k?
How many houses does an agent have to sell to make $100,000 a year? If you are selling $100,000 houses and paying 40 percent of your commission to your broker you would have to sell over 50 houses a year to gross $100,000 a year.
Is real estate agent a dying career?
Real estate isn’t a dying career. In fact, there are more real estate agents in 2021 than perhaps ever before. However, the field is changing dramatically, with the advent of online marketing, VR and virtual tours, and easy online paperwork.
Is real estate a good career in 2020?
The real estate market is ever-shifting. The fluctuations within the real estate market have been worse in 2020 due to the COVID-19 pandemic that has caused many sellers to pull off their listings and interest rates to hit a record low. Still, we believe it’s a good time to become a realtor.
How Many Hours on Average do Realtors Spend Per Client?
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A total of 1,300 rental houses are represented by Excalibur throughout the Metro Atlanta region.
In addition, the Georgia Real Estate Commission appointed him to participate on their Education Advisory Committee, where the property management business is represented.
A full-service real estate company, Suncoast manages more than 1,700 properties at any given time.
Specialized Property Management’s chief executive officer is Charles Thompson.
Its comprehensive services include marketing, leasing, application screening, showings, rent-ready services, maintenance, managing tenant requirements, rent collection, lease enforcement, and owner reporting and trust accounting, among other things.
Over the course of his career, Charles Thompson has gained extensive knowledge and expertise in turnaround management, strategic consulting, and establishing best-practice operational models for industry-leading companies.
How Much Time Does a Realtor Spend on Each Client?
There is no set amount of time allotted for each engagement or number of billable hours. Depending on the customer, the amount of time spent with them will differ significantly. You will have a different amount of time if you are selling a home based on your asking price, the worth of the property, its condition, and its location. If the item is in high demand, you may be able to complete the transaction in less than a week.
For buyer’s agents, the time commitment might be a little higher because they must visit a number of houses before making a choice on which one to purchase. Again, this will vary based on the following factors:
- The degree to which the client is picky
- The quality of the listings that the realtor has at his or her disposal
- Any difficulties that may be related with the listed property
- The customer’s financial situation
- The current value of real estate in the area
- Inventory that is currently available
In the event that you’re fortunate enough to come across a lucrative listing with no related issues, you can close the sale in less than 20 working hours. The average real estate agent will spend up to six months working on a single transaction, which might either conclude satisfactorily or fail completely if the buyer does not agree to all of the stipulations set by the seller.
How Many Hours Do Real Estate Agents Work?
According to a poll conducted in 2013, over half of all realtors put in at least 40 hours each week at their jobs. Less than 22% of those who took part in the poll worked fewer than 30 hours a week, according to the results. It was discovered that around 58 percent of respondents spent the most of their hours at an office meeting with clients or catching up on paperwork, while 28 percent spent more time on-site dealing with other business-related concerns. Despite the fact that most realtors spend approximately an hour a day marketing themselves or their listings and many hours a day looking for new leads, all realtors spent a respectable amount of time showing their listings to potential customers, according to the research.
The number of hours spent dealing with the client’s papers was not included in the report.
Do the Hours Spent Matter?
In a nutshell, no. The amount of time the realtor spends on the property isn’t really significant. The majority of the time, a competent real estate agent will go above and beyond to complete the transaction. This is due to the fact that they understand they can only earn a profit once they have assisted you in the purchase or sale of your property. In order to make ends meet, most people work many properties at the same time. They boost their chances of producing a monthly profit no matter what by distributing their time among numerous clients.
Become an Agent
We are continuously on the lookout for competent agents to add to our team of professionals. Becoming a real estate agent is an excellent career decision, and we can assist you in achieving your objectives. For additional information, please contact our office now!
Real Estate Agent Reviews and Advice
Acquiring your first job might be difficult, especially when you want to work in your favorite field. These suggestions and guidance will assist you with your application process and interview, as well as in identifying who you should network with in order to break into the industry. This professional counsel also includes an explanation of what a typical day in the life of this profession is like.
How to get a Job asa Real Estate Agent
Townsend suggests beginning with a broker that has a lot of expertise. “Collaborate with an established broker, taking use of their leads and infrastructure,” Townsend advises. “The first component is the generation of new leads. You have no reason to serve if you don’t have anybody to serve for you.” Real estate agents should also highlight their interpersonal skills, business acumen, and enthusiasm for the field – as well as their commitment to the community in which they desire to work.
Continuing education possibilities, such as the NAR’s enormous library (which is free for members) and programs offered by various real estate groups, would also be appreciated by experienced brokers who are looking for new hires.
The average American works long into his or her 60s, so employees may as well have a job that they love and a profession that they are passionate about. Many employees would be content with a job that has a low stress level, has a healthy work-life balance, and offers great opportunities to advance, get promoted, and earn a higher pay. Listed below is how work satisfaction among Real Estate Agents is measured in terms of upward mobility, stress level, and adaptability. Stress LevelWork environment and the complexity of the job’s responsibilitiesStress LevelUpward MobilityOpportunities for advancement and salaryStress Level Flexibility Work-life balance and flexible working hours are important considerations.
What is the Job Like?
In conjunction with a registered broker, real estate sales agents provide services on a contractual basis in exchange for a share of the commission collected on the sale of real estate. In addition to several prospects for advancement inside a firm, experienced agents can get a brokerage license and start their own business, as Townsend did. In real estate, the conventional work week is 40 hours, however many agents may be required to work longer hours than the traditional 9-to-5 schedule, especially because many client appointments will take place in the evenings and on weekends.
- “However, I look forward to working on Saturdays since it means I’ll have more business.” Agents frequently have the ability to choose their own work hours and schedules, which they find liberating.
- Even though agents will be required to do property research and submit paperwork, many components of the job, such as assessing and displaying homes, interacting with clients, and researching the real estate market, will be performed away from the desk.
- According to Townsend, serving and establishing ties in your community may be just as essential as earning a living.
- See what salaries are being offered for employment in your sector right now.
Why Real Estate Agents Love the New 9 to 5
Before the new 9-to-5, when the majority of the United States workforce worked during typical office hours, individuals went about their daily lives outside of those hours. It was common for employees to schedule dentist visits during their lunch breaks, for fathers to attend peewee soccer games on weekends, and for parents to attend a weekday dance performance, it was customary to use vacation or sick days. That is no longer the case. It’s no longer acceptable to work from 9 to 5. Because of technological advancements, employees are no longer tied to their workstations, allowing them to do business on their iPhones at Starbucks or on their iPads at the beach.
- Instead of “come there on time,” the new work ethic encourages employees to “get the job done.” In the words of Meg Schmitz, a senior consultant with FranChoice, a franchise consultancy organization located in Eden Prairie, Minnesota, “I have complete control over my time.” Ms.
- Schmitz owns a laptop, an iPad, and a smartphone, among other devices.
- Yes, it does, according to Dr.
- In a recent study titled “Work Schedule Flexibility: A Contributor to Happiness?,” Golden looked at the frequency with which people had flexible work schedules and their overall happiness levels.
- Using data from a recent study that is now being reviewed, Golden discovered that flexible work hours offer “substantial advantages” on worker well-being, including increased job satisfaction and lower work stress.
- As a result, more than 27.5 percent of full-time pay and salary workers are permitted to work flexible hours, according to the Bureau of Labor Statistics in the United States of America.
- Millennial employees, the workforce of the future, consider workplace flexibility to be one of the most important factors in choosing a specific profession.
Flexibility of the new 9-to-5 in real estate
Ben Belack made over $25 million in residential real estate transactions in Los Angeles last year, working from his office, his home, his car, and even while on a vacation in Hawaii with his fiancée, among other locations. A listing that Belack, an agent with The Agency in Los Angeles, was about to launch was the reason for her visit. “We were in the pool, and I was talking on the phone with someone.” The fact that it wasn’t my girlfriend’s first pick didn’t bother her in the least. Belack enjoys selling real estate because it allows him to “avoid being confined to a desk all day every day.” His enjoyment of the trip is based on “breathing in the fresh air, seeing gorgeous properties, and conversing with interesting people.” ‘If I need to see a doctor, I don’t have to get permission from my supervisor,’ says the employee.
- With the new 9-to-5 schedule, “clients want to talk to you after they’re done working,” which includes nights and weekends, according to Belack, who estimates he works 60 hours per week spread over seven days, including weekends.
- asking if I had a minute to talk.
- “At some point, I have to take a deep breath.” However, in the real estate industry, breathing may be expensive.
- “That is what you are haunted by,” he adds.
- You must operate your company in the manner in which you choose.
- It’s difficult to get rid of that feeling.
- They claim that my practice will continue to function normally even if I am out for a few hours.” Belack, a hungry worker, is a favorite of Adam Hergenrother’s.
- “I want to recruit people who are workaholics,” says Hergenrother, CEO of Hergenrother Enterprises, based in Colchester, Vermont.
Living with all this flexibility of the new 9-to-5
Kim Shepherd is the founder and CEO of Decision Toolbox, a virtual recruiting agency with more than 100 workers who work from their homes across the United States of America. Shepherd was working from her house in Laguna Beach, California, on a recent Tuesday afternoon when she happened to notice an Orca gliding gracefully over the Pacific Ocean. “The technological revolution has altered our perception of time,” says Shepherd, who has a clientele that includes real estate brokerage firms. “You have the ability to accomplish anything, wherever.” Going to an office is a relic of the past.
The fact is that work and life are inextricably intertwined.” Shepherd claims that the real estate agents she hires are professionals who “want to be their own bosses,” rather than employees.
“I don’t believe someone wakes up one morning and says, ‘I want to sell my house,” Shepherd asserts. “They wake up and declare, ‘I want to be in command of my time and my earning potential.'” “Real estate is an excellent choice.”
Becoming a Part-time Real Estate Agent—Can It Work for You?
A part-time real estate agent is someone who works less than 40 hours per week on behalf of buyers or sellers in real estate transactions. Working as a part-time real estate agent might allow you to have a flexible schedule while earning a five-figure salary. Real estate agents who work part-time, on the other hand, earn less money than full-time agents, making this a good option for those who already earn a living in other ways.
What to Expect in a Part-time Real Estate Agent Career
Part-time real estate agents should consider their personal obligations as well as their financial resources before committing to a job that requires less than 40 hours per week. The ability to meet the scheduling needs of one’s clients is critical to one’s success as an agent. Therefore, while it is important to ensure that you have a minimum of 20 hours available in your week, it is even more critical that those 20 hours be flexible. Aside from that, those who wish to pursue a part-time career as a real estate agent must follow the same steps as those who wish to pursue their full-time career, which are as follows:
- Comply with all applicable state licensing requirements
- Obtain all of the requisite courses
- Achieve a passing mark on a real estate licensing test and obtain a state-issued real estate license. Locate a brokerage firm that will sponsor you
- In order to keep your license active, you must continue to take post-licensing classes.
If you want to learn more about these stages, check out our tutorial on how to become a real estate broker. But it’s crucial to remember that many full-time agents do not make a sale for up to a year after they begin working; as a result, you will almost certainly need to rely substantially on a second source of income, especially at the beginning of your journey. That being said, if you are able to properly handle your duties while still generating leads and closing deals, becoming a part-time real estate agent will most certainly provide a vital additional source of income.
Part-time Real Estate Agent Salary
According to Real Estate Express, part-time agents who work less than 20 hours per week earn an average salary of $24,559 a year on the job. Agents who work 21 to 39 hours per week earn an annual salary of $46,458 on average. Agents’ salaries, on the other hand, vary by area and are dependent on how much time they devote to completing sales transactions. More information on how factors such as location and experience impact prospective income may be found in our post on real estate agent salaries.
ProsCons of Being a Part-time Real Estate Agent
When working as a part-time real estate agent, there are pros and downsides to consider. While having a career that allows you to pick your own hours may seem like a fantastic idea, there are some drawbacks to working part-time in the real estate industry. Example: You may raise your income, expand your social circle, and get more experience in the real estate sector so that you can comfortably transition from part-time to full-time work when the time is right. However, there are usually one-time charges that must be covered before you can begin working.
When you have other commitments, it might also be more difficult to schedule last-minute client appointments. Additionally, some customers may be hesitant to deal with a part-time agent rather than someone who dedicates their entire time to real estate.
Alternative Part-time Real Estate Careers
There are many different methods to generate money with a part-time profession in real estate, and it is not limited to being an agent or broker. It’s possible to use your real estate license to start a part-time profession in one of these sectors if you appreciate being a part of real estate transactions but don’t have the time or schedule flexibility to satisfy the needs of would-be house seekers or homesellers.
- Home inspection, home assessment, real estate investment, property management, and commercial lease manager are all examples of services available.
Professionals who wish to pursue several of these jobs will need to complete course work in a manner similar to that necessary to become a real estate agent. Thanks to technological advances, most states now permit you to take this education online through a recognized institution such as Real Estate Express. A fantastic reason to choose Real Estate Express is that it provides more than just agent prelicensing education; it also provides resources for professional growth. For further information, please see their website.
Who Part-time Real Estate Work Is Right For
A part-time real estate profession is an excellent alternative for people who have a flexible schedule and do not require a consistent supplementary source of income. Furthermore, it is ideal for persons who are able to effectively manage their time and prioritize work in order to satisfy the demands of customers while maintaining their other commitments and responsibilities. As a result, it is an especially appropriate solution for the following situations:
- Workers on shift: People who work part-time at another job or who work off-shift hours with daytime availability are excellent prospects for part-time real estate jobs
- They include: Parents with children in school: When children leave home for school, many parents find that they have more time to devote to being a part-time real estate agent
- While you will still need to balance parental responsibilities with professional responsibilities, having an open schedule during the day is a good opportunity to sell real estate
- Those who work as real estate office managers frequently transition into sales positions since they already have contacts in the business and resources to work as agents
- However, this is not always the case.
Even while time management and the capacity to prioritize work are important, there are a variety of other elements that influence a person’s ability to produce revenue from a part-time real estate occupation.
How to Be a Successful Part-time Real Estate Agent in 7 Steps
Success as a part-time real estate agent is achieved by good time management, regular sales, and revenue growth. This is accomplished while paying expenditures such as desk fees and marketing, among others. Consider your own availability in terms of time and space, your financial demands, and your educational requirements in order to assure your own success. In addition, you will need to find a broker that has lead generating methods and advertise your own business. Listed below are the seven stages you must do in order to become a part-time real estate agent.
1. Determine Your Level of Flexibility
A part-time real estate agent’s schedule must allow for time spent meeting with customers and promoting their services in the real estate industry. Agents typically spend half of their available time in the office and half of their available time with customers. Be honest with yourself about how much flexibility you have in your schedule so that you can correctly estimate how many clients you can serve in a given week. Speaking with a local real estate agent is a wonderful method to learn about the time commitment required of a real estate agent.
Having a clear concept of how much time you’ll need to be a successful agent will be really beneficial.
In an ideal situation, you would be able to set aside several hours each day for real estate-related activities.
If you discover that you have an excessive number of conflicts, being a part-time agent may not be the ideal option. Part-time real estate job, on the other hand, is possible if you have three to four continuous hours available each day.
2. Ensure You Have Adequate Existing Financial Stability
Although working as a part-time real estate agent might bring additional money, it may take many months or even a year before you make your first transaction in this field. Consider your monthly expenses, then estimate the anticipated revenue from your employment as a part-time real estate agent and determine whether the business is financially realistic. This will guarantee that you are financially secure while you are building your network and degree of expertise. Consult with local agents to assist in the creation of a workable estimate.
How to Ensure You Have Financial Stability
Following these steps will help you assess if you have the financial stability to undertake a part-time real estate career:
- Make a list of your monthly costs
- Work out how much money you make each month from your principal employment. Subtract your monthly costs from your monthly income to get your net monthly income.
In most cases, if you have enough money to pay all of your expenditures, you will be able to work for several months without receiving a guaranteed income from real estate job. It is possible that part-time real estate job is not the greatest option for you if you are unable to handle your present costs and are relying on savings or financial reserves to keep your head above water.
Additional Financial Considerations of Part-time Real Estate
Prelicensing courses, license application fees, and any marketing efforts necessary to obtain customers are all expenses to keep in mind when determining whether or not you should pursue a real estate agent career. Make a start by looking at online real estate colleges to discover the prices of prelicensing courses. Then, speak with a local agency to find out how much it will cost to generate leads and advertise your business. Evaluate your financial situation to see if you have enough money to handle these expenses without going into debt.
3. Find the Right Brokerage
When working as a part-time agent, finding the correct real estate firm is crucial; some brokerages provide agents with leads and training, while others provide little or no assistance. Begin by investigating the finest real estate firm for you to work for, taking into consideration both national and regional franchise opportunities. Then schedule interviews with brokers and ask them questions about their desk fees, training, and sales expectations, among other things. Once you have picked a brokerage, you will need to provide evidence of employment to the state in order to complete the process of obtaining your license.
4. NetworkGrow Your Sphere of Influence
Referrals are a terrific source of real estate leads since they are completely free, except from the time it takes to ask for them. Nonetheless, in order to begin generating referrals, you will need to develop the practice of regularly presenting yourself as an agent to those in your network. It could also be a good idea to form a partnership with another full-time agent who would be ready to mentor you in exchange for helping you with customer relationships.
5. Make Use of Lead Generation Tools
If your selected brokerage does not provide you with leads, you will be need to create your own lead generating channels to supplement their efforts.
Start by setting up a lead generating service that will send out advertisements to create your lead database, and then supplement that database with leads that you obtain from your professional network. Here are some of the most effective lead creation tools available in the business today:
- BoldLeads: BoldLeads is an exclusive lead generation service for agents seeking local leads that are not sold to other agencies. BoldLeads is $289 per month and is available to agents in the United States. For part-time agents, Zillow Premier Agent (ZPA) provides a free internet data exchange (IDX) website and customer relationship management (CRM) (CRM). Lead generation may be added for as little as $20 to $60 per lead, depending on your region and the level of competition in your area. For real estate agents that want a simple IDX website that also includes CRM and lead generation in a convenient bundle, Real Geeks is a smart choice. In addition to a website and CRM, Real Geeks offers an extra package for managed advertising that starts at $300 per month. Rental by owner (FRBO) homes and expired listings are among the specialty marketing leads available via REDX, which starts at $79.99 per month. Because leads are less expensive and competition is less intense in smaller specialized industries, such as rentals, it is better to begin with a modest number of leads.
While the tools listed above are efficient methods of obtaining leads as a new part-time real estate agent, there are several more methods of obtaining high-quality, warm leads as well. More information may be found in our post on real estate lead generating ideas.
6. Market Yourself
The ability to market yourself and your brand will make it simpler to attract new buyers and sellers, as well as move existing warm leads closer to the point of purchase. Increase your exposure, drive traffic to your website, and inspire prospective buyers and sellers to consummate a deal by utilizing social media, advertising, networking, direct mail, and email campaigns to your advantage. Here are some suggestions on how to advertise yourself as a part-time real estate professional:
- Social media: Agents should have a professional Facebook real estate page that has weekly postings, according to the National Association of Realtors. Consider providing your audience with real estate knowledge, community information, and market facts, or consider forming a Facebook group to engage with them directly. Advertising: Part-time real estate agents can benefit from advertising on Google Ads and Facebook to generate leads in their farm-area markets. As a result of the vast targeting capabilities available on Facebook, it is undoubtedly the most successful advertising platform for real estate
- Learn how to develop Facebook advertisements for real estate. Direct mail is a method of communicating with people who aren’t in your immediate vicinity. A direct mail firm, such as ProspectsPLUS!, may help you improve exposure while saving you time on the design, printing, and delivery of your postcards or flyers to your agricultural region. Mailchimp or Constant Contact are two services that can help you remain in touch with leads and encourage them to inquire about specific listings.
Connect with potential buyers and sellers by utilizing each of the marketing methods listed above. If you find one that performs better than another, devote the majority of your time and resources to that tool. However, you should constantly look at your return on investment (ROI) to ensure that you are not wasting money on marketing that is ineffective.
7. Master Time Management
A part-time real estate profession necessitates the development of excellent time management skills. To avoid possible conflicts, plan each day’s activities, follow leads on a regular basis, remain on top of deadlines, and utilize technologies to automate repetitive activities. As a part-time real estate agent, here are four strategies for managing your time effectively:
- Make a schedule for your day: Put your efforts into making a daily calendar of tasks to do, as well as a time slot for each significant activity that must be completed each day
- It is preferable to block off consecutive hours for work in order to retain focus. Keep track of your leads: A customer relationship management system (CRM) such as Freshsales may assist you in tracking and nurturing leads
- It provides a Free Forever plan that lets you track leads, ensuring that no chances are lost
- Alerts can be set up as follows: Create or use a time management software to help you keep track of your work and be reminded when you have tasks to complete
- Make use of tools to simplify your tasks: Implement the best real estate agent software and tools to save time on the chores that agents perform on a regular basis.
Part-time real estate agent success is dependent on your ability to manage your time effectively. Every aspect of your part-time real estate business, from meeting with customers to promoting your part-time business, must be able to be accommodated within a part-time work schedule. Tips from the pros can help you learn more about how to manage your time, and our article on how to become a great real estate agent can teach you more about the other skills you’ll need.
Frequently Asked Questions (FAQs)
Yes. Brokers, on the other hand, may be cautious to recruit part-time agents because full-time agents generate more revenue for the firm. As part of their job, brokers must also teach new agents who join their firm, which may be a time-consuming and expensive endeavor. Obtaining an endorsement from a well-established and reputable agency can increase your chances of being recruited significantly.
What are the hours for a part-time agent?
Part-time real estate agents have the ability to work around their schedules. While you have the freedom to create your own schedule, you must set out time to meet with clients and execute marketing or lead-generation activities. Also, make sure to include time for any administrative tasks that may be required.
Do you get a base salary as a part-time real estate agent?
The majority of the time, with a few exceptions, real estate brokers only receive commission on closed sales. Because Redfin agents are workers, the company does provide a wage basis; nonetheless, Redfin is an outlier in the real estate sector in this regard.
Consider your financial security and availability for dealing with customers on a weekly basis before deciding to become a part-time real estate agent.
If you are competent at managing your time and have the financial means to obtain a real estate license, part-time real estate job might be a wonderful method to supplement your income while still having time to fulfill your other responsibilities.
Can You Be a Part-time Real Estate Agent?
If you’re reading this, it’s likely that you’re thinking about making a career change into the real estate industry but are also wondering, “Can I work as a part-time real estate agent?” Yes. You can work as a real estate agent on a part-time basis. Licensed real estate agents have the flexibility to work as many or as few hours as they like, making this a near-perfect career choice for someone searching for flexible, part-time employment with a high income potential.
Is a Part-time Real Estate Career Right for You?
Being able to work from home and have almost no restrictions is really enticing, but it isn’t perfect for everyone. When we chat to potential agents about becoming part-time real estate agents, they frequently base their choice on the four questions listed below:
What Is a Part-time Real Estate Agent Salary?
What kind of income can a part-time real estate agent expect to earn? A real estate agent is not compensated in any way. Regardless of whether you work part-time or full-time, all of your money is derived from commissions generated. Commission rates for real estate agents are typically 6 percent of the home’s selling price, with the commission divided evenly between the listing agent and the selling agent in most cases. According to a recent poll conducted by Real Estate Express, the average yearly salary for real estate brokers who work fewer than 20 hours per week is $24,556.
In the end, your income is determined by the amount of money you spend on running expenditures and the number of sales you make.
What Is a Part-time Real Estate Agent’s Schedule?
When working as a real estate agent, there is no regular timetable, regardless of whether you are employed full-time or part-time. Business is conducted in accordance with the demands of your clients, which often means you’ll be working in the evenings or on weekends. The majority of part-time real estate brokers put in somewhere between 15 and 30 hours each week working with or on behalf of their customers.
Will Clients Work With a Part-time Real Estate Agent?
Clients will work with a part-time representative, yes. Real estate customers are concerned with the value you bring, the insight into the market you can provide, and the assistance you can provide them in attaining their financial goals in the real estate transaction. There’s no index anyplace that keeps track of how many hours you’ve spent on it. Nobody else is interested in your status as a part-time real estate agent other than yourself.
Will Brokers Hire Part-time Real Estate Agents?
To be able to work as a real estate agent, you must be sponsored by a brokerage organization. Someone who oversees real estate agents is referred to as a broker (someone who has completed their state’s standards in terms of experience, education, and an extra license). While some brokers are only interested in full-time, career-oriented realtors, others are willing to work with anybody who has a valid real estate license.
Compared to your full-time colleagues, your choices in terms of real estate firms for whom to work may be restricted; but, there are brokerages that will recruit part-time real estate agents.
Getting Started as a Part-time Real Estate Agent
It is the purpose of this part to get you excited about starting your new side hustle after reading the answers to the questions above. As a part-time realtor, there are three phases you must complete before you can begin earning a living from your profession.
1. Get Your Real Estate License
In order to lawfully provide real estate services in the United States, you must first get a real estate license. The time and money necessary to receive a license will differ slightly based on where you live and which state you reside in, but the overall process is very much the same regardless of where you live. Listed below is a detailed breakdown of everything you’ll need to do:
- Participate in a pre-licensing course that meets the standards of your state
- Take these real estate practice examinations to hone your skills. Pass your state examination
- Register your driver’s license with the appropriate state agency. Find a brokerage firm with whom to collaborate
If you’re ready to get started right away, we recommend that you look into Real Estate Express for your prelicensing classes. They have alternatives in nearly every state, and they are our top-ranked online real estate school for 2021. They also have enrollment consultants on hand to answer any concerns you may have concerning the prelicensing procedure in your particular state. Real Estate Express is a great resource.
2. Carve Out Time in Your Schedule
Because real estate is a part-time endeavor, it will be necessary to establish certain scheduling limits straight away to guarantee that your real estate duties do not interfere with your other professional, familial, and personal obligations. Some tips on how to go about this are as follows:
- Inform your full-time employer that you have obtained your license: Inform your employer of your new real estate enterprise if you are working a full-time job and picking up real estate on the side. Assure them that it will not interfere with your other commitments, and let them know that you are available to assist them with any real estate requirements they may have. Make a real estate timetable, which includes the following steps: Every week, block out some time on your schedule and designate it as “real estate time.” Make sure to communicate this availability to your clients so that they are aware of when you are accessible to assist them. Depending on the circumstances, you may need to be flexible, especially if a customer is only accessible at specific times to meet with you, but stating expectations early is a fantastic approach to minimize scheduling problems. Set aside some time for yourself that is not related to work: If this is your first time starting a side hustle, you should be aware that time will quickly become your most valuable asset in your endeavor. Despite the fact that you will be enthusiastic about the growth and success you are experiencing in real estate, it is important to remember that if you don’t take at least a little break each week, your real estate efforts will suffer as a result of burnout.
3. Set Up Systems for Part-time Business Success
Despite the fact that part-time realtors devote less time to their businesses than their full-time colleagues, the tools they require to be successful remain the same. Listed below are the methods that you’ll need in place if you want to get your firm off to a good start.
- Create a real estate business plan: The capacity of a part-time real estate agent to manage their operational costs and predict their income is what determines whether or not they will earn money in the industry. The most effective approach to do this is through the creation of a real estate business strategy. Using this tool, you’ll be able to create a budget for what you’ll spend and how much you intend to earn, as well as track your costs along the way. Selecting a customer relationship management (CRM) solution should include the following considerations: A real estate customer relationship management system (CRM) is an essential tool for effectively managing all of your contacts with clients, leads, and prospects. LionDeskour has been chosen the best real estate CRM for 2021. Create a strategy for lead generation: Part-time real estate agents must generate leads that can be converted into customers in order to be successful. In order to make your business profitable, you’ll need to create enough leads to make it profitable, whether you plan to work inside your sphere of influence or through paid lead sources such as Zillow or some other source.
Do you want additional tools to help you start and run a successful part-time real estate business? Download our Part-time Real Estate Agent Launch Guide for step-by-step instructions on how to make your first four weeks in the profession the most productive possible.
Part-time Real Estate Agent Resources
Getting your foot in the door of the real estate sector can be difficult, especially if you don’t have previous business ownership or entrepreneurial expertise. In order to assist you with your transition, we’ve put together a list of useful resources to assist you in turning your company aspirations into reality. We encourage you to become a member of our Facebook Mastermind Group, where you will get continuing mentoring from seasoned real estate professionals. You will receive access to our special marketing and lead generation boot camps, on-demand video training, and essential downloads if you subscribe to The Close Protocol.
Real Estate 101: How You Make Money
It is possible to have a very satisfying career in real estate, and the life of a part-time real estate agent is fascinating and varied, with several prospects for advancement. Don’t be concerned if you aren’t totally familiar with the way the real estate business operates. Take a look at this diagram, which outlines exactly how your workflow as a real estate agent will proceed from beginning to end.
Understanding Operating Expenses of a Part-time Real Estate Agent
A business plan for a real estate agent might be difficult to develop if you don’t know what sort of expenditures the agent will incur on a monthly or annual basis.
The following are some of the common expenditures associated with being a part-time real estate agent.
- State and municipal licensing and memberships: Just like with your driver’s license, your state will need you to renew your real estate license on a regular basis, just as you do with your driver’s license. Although the frequency and expense of this procedure may vary by state, expect to pay up to $250 each year on this procedure. Membership in your local Realtors organization will also be essential for access to resources such as the Multiple Listing Service (where you will list property for sale), which will be necessary for the sale of your home. Each local organization is different, but you could expect to spend upwards of $600 each year on this endeavor. Broker-related expenses:Some brokers will need you to pay a monthly charge in exchange for being a member of their organization, which is commonly referred to as a “desk fee. ” Although not every broker requires a desk fee from its agents, many do, particularly with regard to part-time agents. This will cost you around $600 every year. Expenses incurred in the course of business: A real estate firm requires the purchase of many items such as lead generation, technology tools such as a CRM or email marketing platform, business cards, postcards, yard signs, and other marketing materials. Aside from that, you’ll need to keep your car fueled so that you can transport your customers to and from showings, as well as a mobile phone plan so that you can connect with your buyers and sellers. Because every firm is unique, you’ll want to conduct your own research and analysis in this area. A decent beginning point would be to set aside $2,500 each year for this purpose. Commissions divided with your broker: Every commission you earn will be split with your broker until you reach your “cap,” which is the maximum amount of money you are obligated to pay to your broker each year. Despite the fact that split and cap amounts vary from broker to broker, part-time agents should anticipate to pay their broker as much as 50% of their commission.
Profitability in your part-time real estate firm is dependent on earning more in net commission income (NCI) than you spend on operating expenditures. See What Is GCI and Why It Matters to Every Real Estate Agent for additional information on gross commission income (GCI), net commission income (NCI), and how to calculate both.
3 Tips for Balancing Your Part-time Real Estate Career With Your Full-time Job
Finding a way to manage your part-time real estate company with your full-time employment might be difficult, but it is entirely feasible with the right planning. Here are three suggestions for achieving that delicate balance early in your new professional life.
- Set realistic expectations with your clients: If you’ve never dealt with a desperate or scared seller, or a highly determined buyer, we can assure you that they are relentless. When your schedule does not allow for complete flexibility, dealing with demanding clients can be difficult. However, you can alleviate some of their stress by informing them of the best ways to communicate with you, when they can expect to hear back from you, and when you are available for in-person conversations. In order to avoid disappointments later on, it is important to set expectations early. Make your marketing more automated: You could easily fill up your whole part-time real estate calendar with marketing duties alone if you weren’t careful. This is why you must take use of the automated email, text messaging, and snail-mail marketing capabilities that yourCRMprovides on a consistent basis. When your clients hear your personalized communications and do not have to spend a single second on the phone or behind a keyboard, it is a wonderful day. Attempt to condense your in-person real estate responsibilities into as few days as possible: If you’re spreading out your in-person encounters across too many days, it’s easy for your part-time real estate profession to develop into a full-time position. Let’s face it: we’re in a bind. Personal client interactions need a significant amount of time
- Hence, scheduling them on a regular basis will make maintaining a part-time schedule more difficult. Choose one day of the week on which you intend to perform all of your showings, listing appointments, and consultations so that you can spend the rest of the week focusing on your leads.
Competing for Business With Full-time Agents: The Secret to Success
You might be scared by the prospect of competing for business with real estate professionals who have been in the company for 20 or 30 years, but here’s the key to promoting yourself that will put you on the path to success: Make your personal brand message on the value of your abilities and market expertise, rather than about the length of your experience in the field. You will be unable to compete if the choice is decided only on the basis of the number of concluded deals, but it is rarely the most significant element on a client’s mind when deciding whether or not to hire you.
- Do you have a strong negotiating skill set?
- Do you have a marketing background that is well-versed?
- Are you someone your clients will truly want to spend time with?
- At the end of the day, real estate is a business built on relationships.
- All of these factors are more important to most buyers and sellers than the number of properties you’ve sold or the amount of hours you can commit each week to your business.
Part-time Real Estate Agent Launch Guide
When you’re ready to get your real estate business up and running, you want to make sure that your first four weeks are filled with activities that will propel you in the direction you want to go. To help you get started, we’ve created the Part-time Real Estate Agent Launch Guide, which includes a week-by-week description of how you should be spending your time to get your business up and running. Get your free copy of the Part-Time Real Estate Agent Launch Guide.
You can tell us about your motivation for entering the real estate industry and your background by filling out the form below. Do you work as a part-time real estate agent at the moment? So far, how have you found your experience to be?
Part-Time Real Estate Agent: What You Need to Know
Being a part-time real estate agent may be a lucrative side hustle for those looking to supplement their income. The amount of hours you must work each week to qualify as a part-time realtor is not specified, however it is reasonable to assume that the majority of agents work about 20-25 hours per week.
This article will discuss how much money a part-timer makes and what qualifications you need to enter this field.
Can one succeed as a part-time real estate agent?
A great deal of effort, devotion, and tenacity are required to achieve success in the real estate sector. These characteristics are frequently shared by part-time agents and full-time professionals. The ability to succeed as a part-timer is dependent on the willingness to put in 20 – 25 hours a week working on their business and generating leads for further listings. Some individuals might claim that it’s impossible to be successful as a part-timer since you can only take on a certain number of clients at a time before your plate becomes overloaded.
- Because you have a limited number of customers but no defined number of hours, you have more freedom when it comes to scheduling personal duties such as family obligations or recreational activities. A restricted number of homes to show every month but no defined number of properties to exhibit per month means you have the chance to devote more time and attention to each individual property.
Part-time real estate agents who have gone on to become successful full-time agents have stated that they began by working a few hours each week. Having success as a part-time agent might lead to the possibility of working full-time in the real estate brokerage industry.
Preparing to work part-time in real estate
It’s critical to determine your compatibility with the work before taking the plunge and applying for the position. Part-time agents have obligations to the brokerage and must make themselves available to clients and other agents as necessary. As a result, many part-time real estate agents discover that they perform better in a given office or geographic area than in another. They get more face contact with clients, brokers, managers, coworkers, and other vital relationships in their geographic area as a result of this change in work schedule.
- When it comes to the greatest part-time agent employment, there will be some interaction with coworkers; check to see if there is time in the schedule for this type of chance before diving into part-timer career options without thoroughly researching all of the details first.
- Consider these questions and their respective answers: The majority of people who enter the real estate market do so on a part-time basis because they believe they can work whenever they want.
- Your customers want you to be ready to answer questions and show them houses at any time of day or night, frequently outside of normal business hours, to meet their needs.
- Part-timers must also set aside a certain number of hours each week to achieve their own goals.
- You don’t want to waste your valuable time doing anything unproductive as a side job, no matter how small it may be.
- If you intend to work as a part-time real estate agent, your full-time employment must be solid and dependable in order to do so.
- Even if you have the necessary qualifications, breaking into the real estate sector can be difficult.
You have the ability to complete all of the training and practice necessary to boost your earning potential over time.
Entering a new profession as a part-timer, especially in the real estate industry, may be stressful.
Furthermore, you’ll most likely have more duties than full-time agents, making your ability to balance a variety of jobs even more important.
It is essential to have a strong support team in order to achieve success.
In order to be realistic about the possible scope of work and where it may lead you in the future, it’s vital to think about what you want to do in the first place.
For everyone who wants to be successful, the ability to multi-task is a must-have.
A part-time employment in real estate is no different from any other job in which productivity is essential. It is likely that you will be working long hours, even if your pay does not initially reflect your efforts.
What is a prototypical day for a part-time real estate agent?
When working as a part-time real estate agent, a typical workday might vary depending on how hectic things are at his business location. In the real estate industry, there are days when all phone lines are inundated with calls from individuals who want to sell their homes – and it might take hours simply to answer them all! Then there are some days when your phone doesn’t even ring that much. In this situation, it would make sense for you to perform certain administrative activities in order to expedite the progress of your assignment.
For example, answering phone calls from potential clients; taking photos of houses to post on the internet; meeting with sellers and buyers at properties they are interested in buying or selling; visiting homes that have listings such as open houses or home showings – all while driving them if necessary; and answering any other general questions that may arise.
Lastly, because most real estate agents get referral fees when they suggest a customer into the company they work for, it is fairly unusual for some part-time agents to additionally operate as lead producers by prospecting through referrals.
What are the benefits of working as a part-time real estate agent?
It is possible to work part-time as a real estate agent and have flexible hours while still meeting new people and earning some additional money. Here are some of the advantages:
The ability to work from home is possibly the most appealing aspect of part-time real estate job. Agents have the freedom to choose their own working hours and days of the week. So you may access your clients and listings at the time that you want. In a personal life, it is more easier to take time off than it is in a professional job. It’s also possible to create your own sales objectives and work toward reaching them.
Many part-time agents need a little additional revenue to help support their families, pay off debt, and put money up for their retirement plans. They may supplement their income by doing part-time real estate agent employment since they have the flexibility to work flexible hours at places close to their homes or in the vicinity of their residence.
Meet New People
As a result of your field work, you will have the chance to meet new individuals from a variety of various backgrounds, cultures, and lifestyles on a regular basis. They have a wide variety of stories to tell, and you will never get bored of listening.
Build Your Network
If you work as a part-time real estate agent for a corporation, the company’s management will assist you in making connections with other professionals.
Freedom to build your own business
Real estate agents who work on a part-time basis have several chances to create their own enterprises and earn money while maintaining the independence that they require.
Great Income Opportunity
Part-time work in this industry has increased steadily over the years, owing to an increased need for specialists who are familiar with the process of selling a home at any given moment. In order to spend meaningful time with their children or family members without compromising other elements of their lives, more individuals are requesting the ability to work from home or at a time convenient for them. In addition, working part-time employment such as these provides excellent income opportunities since you get to take the weekends off, which provides employers with an easy way out if you don’t meet expectations on Friday evenings and Monday mornings, when most businesses reopen following weekend closures.
The downside of a part-time real estate career
When you decide to work in the real estate market part-time, you should be prepared to encounter certain difficulties. It is less common to find possibilities for part-time real estate agents due to the fact that most organizations will only want to hire people who are full-time in their field. There is also the risk that you will have difficulty obtaining job in your new location as a result of your new social position. Here are a few obstacles to overcome:
Clients may doubt your commitment
You may pass the real estate test and write wonderful blogs, but some clients may question your devotion to the real estate profession because you are only working part-time.
It can be hard to find a good brokerage
Finding a reputable agency to work with is one of the most challenging obstacles a part-time real estate salesperson will encounter. Prepare yourself by conducting research and determining which firm would work best for you in terms of commission rates and other aspects that might be critical while beginning this career path.
This is not a get-rich-quick scheme
It’s not the professional route for you if you’re searching for a quick method to generate money. If you want to be a successful part-time real estate agent, you’ll need to be patient and persistent in order to achieve your goals. This guide to become a part-time real estate agent will show you the various options available in the field. However, it is your efforts that will bring everything together.
How much do part real estate agents make on average?
This is one of the most often asked questions by new agents who are considering real estate as a side venture. It’s a difficult issue to answer without first understanding the commission rates offered by each particular firm in question. According to Payscale.com, the typical compensation for real estate brokers runs from $30k to $50k per year, with an hourly income of around $14-25/hour on the low end of the scale. After working 40 hours a week, a part-time real estate agent might expect to earn between $650 to approximately $2500, which can be spread out over a period of time as needed.
Real Estate Agents in 2020: What to Expect vs.
However, it is dependent on how much one works.
How to calculate your earnings as a part-time real estate agent
If you work 40 hours a week as a part-time real estate agent, your weekly earnings will be approximately $650. If you make a commission of 25 percent on average, you will earn around $325. When deciding which sort of agent could be the best fit for you, it is essential that you do the math for yourself depending on which firm pays the most and how many hours per day/week you want to work in order to make an informed conclusion (part-time or full-time). According to the latest statistics, the median sale price of a property is $235,000.
If your broker has new agents on a 60/40 commission split, the $7050 would translate into around $5600 in income.
In other words, if you use your time properly and are prepared to make sacrifices, such as not spending as much money on a car or on finer items for yourself, it is feasible to live well off of part-time real estate agent job.
What do you need to become a part-time real estate agent?
- Lead generation services to discover potential buyers and sellers
- A part-time real estate agent license (which may be gained by passing an exam or by working full time for a brokerage). Depending on your industry, lead generation could include you reaching out to prior clients as well as friends, family, and coworkers on your own behalf in order to produce leads. Because commissions are dependent on the sale price rather than merely listing fees, as is the case with MLS listings, commission rates are frequently greater than for other types of listings. Although prior real estate knowledge is not required, it will assist in understanding what properties can sell for as well as the costs connected with purchasing vs renting a property. If you have any prior expertise in this region, prior knowledge of how much properties cost might also be beneficial when negotiating bids between buyers and sellers. As a realtor, you will need to be aware of all of the expenses that come with the job, as well as how those expenses are determined. On top of the commission paid to the agent by both the buyer and the seller when monies change hands during a transaction, commissions can occasionally include costs for advertising and contact information maintenance, as well as fees for lead generating services and other services. To obtain your real estate license, you’ll first need to complete some courses, which typically require 600 hours of study time spread over 12 months, with at least 30 hours per week spent going over the material, before sitting for an exam administered by local boards and associations, such as the REALTOR® organization. The lessons should assist you in your development. It is simple to pass if you put up the effort
If you have the appropriate attitude, becoming a successful real estate part-time agent is a piece of cake. You must be prepared to put in the required effort and risk failure if necessary, but you must also be aware of your own limitations. The importance of marketing yourself cannot be overstated:
- Create a blog to help you identify yourself online as a resource for future clients. Create a profile on social media platforms such as Facebook or Twitter so that others may follow your activities
- Hold an open house for every listing that goes on the market so that buyers are always aware that it is available and so that other agents are not compensated for selling it. Attend as many events as you can that are linked to real estate part-time agents that you can find out about
Whether you’re a part-time real estate agent seeking for extra income on the side or a career-minded individual trying to further your position in this profession, there are several options open to you provided you have the appropriate attitude and work ethic. As a part-time agent, you may have the opportunity to make money while also getting valuable experience. It is also conceivable that you may progress into a fantastic full-time employment with one of these top firms. Please let us know if you require any further information on how to become a part-time real estate agent.