How Many Hours Do Real Estate Agents Work? (Best solution)

What are the normal working hours of a real estate agent?

• The standard work week is 40 hours, although many real estate agents will be asked to work beyond the typical 9-to-5, especially since many client meetings take place on weekday evenings and on weekends. “It’s a blessing and a curse to be busy,” he says.

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.

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 an estate agent a stressful job?

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’.

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 hard?

Earning a living selling real estate is hard work. You have to be organized in order to keep track of legal documents, meetings, and all the tasks that go into multiple listings. You may go without a paycheck for periods of time because the work is often commission-based. If you don’t sell, you don’t earn anything.

Is it worth it to become a real estate agent?

Choosing to become an estate agent is no longer a stop-gap or part-time job, but a real career choice with excellent prospects. It is an option definitely worth considering for graduates and school leavers, especially those with ambition, drive and initiative and who enjoy dealing with people.

How Many Hours on Average do Realtors Spend Per Client?

Being a real estate agent is not one of the most easy careers available today. Real estate brokers do not charge by the hour and only receive a commission if and when a transaction is completed. In other words, there is no such thing as a regular day in the life of a real estate agent. With each passing day, new chances and obstacles present themselves, which the real estate agent must deal with and overcome.

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.

• 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!

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.

1. 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.
2. Schmitz owns a laptop, an iPad, and a smartphone, among other devices.
3. Yes, it does, according to Dr.
4. 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.
5. 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.
6. 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.
7. 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.

1. 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.
2. asking if I had a minute to talk.
3. “At some point, I have to take a deep breath.” However, in the real estate industry, breathing may be expensive.
4. “That is what you are haunted by,” he adds.
5. You must operate your company in the manner in which you choose.
6. It’s difficult to get rid of that feeling.
7. 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.
8. “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.”

Is a Career in Real Estate Right For You?

Are you thinking of starting a new career or a side business to supplement your income? It’s possible that you’re considering investing in real estate. After all, each month, around 17,000 people in the United States alone Google “how to become a real estate agent.” And those that make the leap become part of the estimated 2 million active real estate licensees in the United States. When compared to other professions with comparable income possibilities, becoming a real estate agent or broker is quite straightforward.

Nonetheless, establishing a thriving real estate profession takes more effort than many individuals anticipate.

Key Takeaways

• Working as a real estate agent or broker may be both personally enjoyable and financially lucrative, but it is not without its challenges. A profession in real estate requires soliciting business, advertising oneself, monitoring leads, dealing with difficult paperwork, delivering excellent customer service, and a slew of other responsibilities. Most real estate brokers are compensated on a commission-only basis, which means that they may have to work without receiving a payment at times.

Job Outlook for Real Estate Agents and Brokers

Real estate agents and brokers assist customers in the purchase, sale, and rental of real estate. Jobs for real estate agents and brokers are expected to grow by 2 percent between 2019 and 2029, according to the Bureau of Labor Statistics (BLS), which is less than the average growth rate of 4 percent for all occupations. But the Bureau of Labor Statistics (BLS) states that “Demand for these professionals will persist since consumers turn to real estate brokers and sales agents when shopping for a house, such as when purchasing a larger home or relocating for employment.”

Pros and cons of selling real estate

Some of the advantages may be the main reasons why someone decides to go into the real estate business. You may typically work from home and choose your own hours, allowing you to be your own boss. Selling real estate offers the possibility of earning big commissions, and for those who like selling and meeting new people, it may be a rewarding way to spend your working day. Selling real estate for a livelihood is a demanding profession. You must be well-organized in order to keep track of legal papers, meetings, and all of the chores that are divided into different lists of activities.

It is impossible to gain money until you sell your products.

Real estate agent duties

A real estate agent’s day might be filled with a number of jobs and responsibilities, some of which are related to paperwork and forms and others which need interpersonal skills. The following is a sample of some of the responsibilities that a real estate agent can be expected to perform on a typical day:

• Real estate paperwork, such as agreements and leasing records, should be kept on file. Schedule appointments, showings, and open homes
• And Organize and disseminate advertising materials such as flyers and newsletters
• And Budgets for each month, quarter, and year should be created. Create marketing strategies for real estate listings. Client databases are created and expanded upon. In order to generate comparative market analysis (CMA) reports, active, pending, and sold listings must be researched. Websites and social media profiles should be updated.

How to Become a Real Estate Agent

Because there is no national real estate license, you will be required to fulfill the specific licensing requirements of your state.

For further information, visit the website of your state’s real estate regulatory office, or consult the Association of Real Estate License Law Officials’ database of regulatory agencies for more information (ARELLO). Generally speaking, the following are the processes to become a real estate agent:

1. Participate in a prelicensing course
2. Sit for (and pass) the licensing examination Make sure your real estate license is active. Become a member of a real estate brokerage

Real estate agents are always employed under the supervision of a certified real estate brokerage firm. Finally, you may like to pursue a career as an independent broker, which will include the completion of extra educational and experience criteria. You will be able to work independently after obtaining your broker license, as well as recruit sales representatives to work for you. Obtaining your real estate agent license will typically take you between four and six months in the majority of instances.

In order to get started, you may need to spend anywhere from $1,000 to $3,000 for the license course and exam, as well as for beginning expenditures (such as Multiple Listing Service fees, business cards, sale signs, open house signs, websites, and other marketing materials).

All Realtors are required to pay an annual membership fee and to adhere to the rigorous Code of Ethics established by the National Association of Realtors.

Real Estate Agent Job Duties

It goes without saying that acquiring a license is the easy part. Being a successful real estate agent or broker, and earning a stable income, takes a lot of dedication and hard work. In most circumstances, it necessitates a significant investment of time, effort, and even financial resources.

Administrative Duties

Starting with the basics, becoming a sales agent or broker entails handling a significant amount of administrative work. The accuracy of legal papers is critical, and activities must be coordinated when there are many listings. On any given day, you could be required to do the following:

• Real estate contracts, agreements, and leasing records must be completed, submitted, and filed
• Plan and coordinate appointments, showings, open houses, and meetings
• Create and distribute promotional items such as flyers, newsletters, and other forms of communication
• Make paper and electronic filing systems for documents, communications and other material, and keep them up to date. Monthly, quarterly, and yearly budgets should be created. Create marketing strategies for real estate listings. Client databases are created and expanded upon. Active, pending, and sold listings are researched, and draft comparative market analysis (CMA) reports are created. Respond to messages, emails, and phone calls as soon as possible Websites and social media profiles should be updated.

An experienced sales agent or broker may have the financial resources to employ an assistant to assist with any or all of the administrative responsibilities listed in this section. When you’re first starting out in the sector, you’ll most likely have to take care of everything yourself. You should think about whether or not you are detail-oriented and competent with paperwork. Do you possess the organizational abilities and motivation necessary to undertake these administrative responsibilities on a regular basis?

Lead Generation

In order to be a successful sales agent or broker, you must first locate clients. After all, there would be no transactions and, thus, no commissions if there were no buyers and sellers to interact with.

When it comes to building relationships and producing leads, one of the most commonly used strategies is the real estate sphere of influence (SOI) approach, which focuses on creating leads through individuals you already know, such as:

• Family, friends, neighbors, classmates, business associates, and other social ties are all important.

That implies that your day may entail meeting and interacting with a large number of individuals on a regular basis, handing out business cards, exchanging contact information, and putting away contact information in order to build out your SOI. Immediately following your initial encounter, you’ll need to follow up with phone calls or emails or snail mail or text messages in order to ensure that the individuals you meet remember your name in the future. Because almost everyone purchases, sells, or rents real estate at some time in their life, everyone you meet may turn out to be a customer at some point.

Are you willing to promote your company to family, friends, neighbors, and other social contacts in order to generate business?

Working With Real Estate Clients

If you deal with buyers, sellers, or renters, you’ll spend a portion of each day interacting with them on a personal level. It’s also important to remember that it won’t always be during business hours. You might have to give up some of your personal time—time spent with family and friends—in order to achieve your professional goals. Something unexpected may force you to cancel your current plans if it occurs at the eleventh hour. A seller’s agent’s day will include making listing presentations, taking digital images of listings, staging homes to ensure they sell quickly, marketing properties, and conducting open houses.

As part of your responsibilities, you will show the property to prospective purchasers and accompany them to inspections, meetings with loan officers, closings, and any other events where your presence is necessary or requested.

Are you able to keep your excitement and professionalism even while dealing with a difficult or demanding client?

Real Estate Agent Earnings

The vast majority of real estate agents and brokers do not get a salary. As opposed to this, they earn money from commissions, which are often a percentage of the sale price of the property or less frequently, a flat fee. In most cases, commissions are only paid once a transaction has been completed. In the end, this implies that you might work really hard for days, weeks, or even months without receiving a single penny in compensation. It is similar to other commission-based occupations in that it may be either a feast or a famine.

$48,608

This figure is the average yearly salary for a real estate agent. In the case of brokers of real estate, the number is $57,274.

Of course, if you do manage to consummate a deal, you will most likely not receive the whole commission. This is due to the fact that commissions are often split with the other agents and brokers. As an example, in a normal real estate transaction, the commission may be divided into four categories:

• Seller’s agent: The agent who obtained the listing from the seller. The broker for whom the listing agent works is referred to as the listing broker. The agent who represents the buyer is referred to as the buyer’s agent. Buying agent’s broker: The broker for whom the buyer’s agent is employed.

Here’s an illustration: Consider the following scenario: a sales agent accepts a listing for a $200,000 property with a 6 percent fee. Assuming that the home sells for the asking amount, the selling agent’s broker and the buyer’s agent broker both receive $6,000, which is half of the $12,000 total compensation. Once this is completed, the brokers share the commissions with their sales agents, for example, 60 percent going to the sales agent and 40 percent going to them. As a result, each sales agent earns $3,600 ($6,000 multiplied by 0.6), while each broker retains $2,400 ($6,000 multiplied by 0.4).

• Buyer’s agent: $3,600
• Buyer’s agent broker: $2,400
• Listing agent: $3,600
• Listing broker: $2,400
• Buyer’s agent: $3,600

Do you have the cash reserves to survive for several weeks or months without receiving a salary? Are you OK with a fluctuating income? In spite of the fact that many real estate agents and brokers work part time, the most effective ones are accessible whenever their customers require them, whether it’s during regular business hours, after hours, or on weekends. Are you willing to give up your nights and weekends to help others? Whether or whether you are in a position to devote that much time to your profession is up to you.

The Bottom Line: Should I Become A Real Estate Agent?

In the event that you are fine with these realities—and if you appreciate hard work, are a self-starter, and are intrigued by the prospect of setting your own hours—a career in real estate may be a good fit for you. If you sell enough houses, you may earn enough money to live in a very comfortable manner. Choosing to pursue a career as a real estate agent or broker may be a difficult and financially rewarding decision. Take into consideration that there are several varied and unique options available to everyone interested in working in the business.

Maybe you’d want to deal just with residential homes, or perhaps you’d prefer to work with commercial properties.

The Pros and Cons of Becoming a Real Estate Agent

Real estate is a rewarding and challenging profession that offers both huge benefits and numerous obstacles. It can be financially rewarding, but it needs a lot of effort and commitment. If you’re considering a career in real estate, we’ve compiled a list of the advantages and disadvantages of being a real estate agent to help you make your decision.

Pro: You have the flexibility to choose your own schedule

Many real estate professionals choose to work in the industry because it allows them to have a flexible schedule. It is true that in real estate you are your own boss and may plan your day so that you can attend your child’s athletic event or be home in time for after-school activities. Every day is not marked with a clock in and a clock out. Sarah Sutton Fell, the CEO of FlexJobs, told U.S. News that there have been “huge shifts” in terms of when, where, and how people are working.

“In the last five years, we’ve seen a significant increase in flexible work options, both being offered by employers and being sought after by professionals.” Real estate is one of those sought-after professions that offers a high degree of flexibility.

Con: Without set hours, you might end up working more

Having flexible working hours does not imply that you have an easy job, quite the contrary. Although “the regular workweek is 40 hours,” according to US News, “many real estate agents will be required to work beyond the traditional 9-to-5, especially because many client appointments will take place on weekday evenings and weekends,” the publication adds. For example, you could get to take time off on a weekday afternoon to visit your child’s school, but you might have to forego family time on Saturday as a result of this.

What you can do: Practice your time management skills

The fact that there are so many time management tools available to help you outsource work both in your personal time and in your professional time makes this one of the benefits and disadvantages of being a real estate agent that is easy to solve as well. Some of the latest real estate technology are making the day-to-day activities of the profession easier and more efficient. FREE GUIDE: Learn how to become the most innovative and forward-thinking real estate agent in your area.

Pro: You have unlimited income potential

Real estate experts earn, on average, 25 percent more than the ordinary worker, but there is no upper limit to how much money you may make in this industry. The greater the strength of your business abilities and the greater the amount of effort you put into your job, the more you will gain out of it. As a result of the fact that you are in command of your own transactions, there is no pay ceiling or specific period of time that you must work before receiving a raise. There is no limit to what may be achieved.

Con: You have no safety net in the slow periods

Because you do not get a salary from your company, your earnings are calculated based on the number of transactions you complete each month. If you have a sluggish month, you will receive less takeout. Because the employment is commission-based, if you are not successful in selling a property, you will not immediately receive a salary.

What you can do: Create a savings fund first

Fortunately, this is one of the advantages and disadvantages of being a real estate agent that can be avoided with careful planning. If you take the time to build a savings fund before investing in real estate, you will not have a problem with cash flow throughout the slower phases of the business. When the volume of transactions increases, you can reload your savings money in preparation for the next transaction. When determining how much money you should save, make sure to include some of the most frequent real estate agent charges in your budgeting process.

Pro: You get to help make dreams come true

Imagine being able to show people gorgeous houses on a daily basis and assisting them in finding their ideal homes. As a real estate agent, you have the opportunity to be a part of some of life’s most memorable experiences with your customers. You may have a role in assisting them in finding the right house that will remain in their family’s memories for a lifetime. It has the potential to be both intriguing and motivating.

Con: Buying and selling can be stressful for clients

The majority of your clients will not buy and sell properties on a frequent basis, and every acquisition represents a big financial commitment.

This can lead to high levels of tension, especially if your customers are torn about what to do in the situation. Despite the fact that working with people may be gratifying, it can also be stressful and have its share of difficult moments.

What you can do: Develop a strong real estate network

If you’re having a difficult time with a particular client, you may seek help from a network of like-minded real estate professionals. Mentors who have gone through similar situations in the past may be able to provide strategies that have worked for them in the past. Spend some time getting to know other agents in your region, including their approaches to working with tough clients and how they care for their clients when they are in difficult situations.

Weigh the pros and cons of becoming a real estate agent

Before you begin your real estate career, take some time to consider how you will overcome some of the problems that will inevitably arise in this very lucrative sector. Numerous individuals are drawn to the sector because of its many advantages, but it is the experts who are able to overcome its many disadvantages that have the most long-term success.

What Are Real Estate Agents’ Hours Like?

In the event that you have a property to sell or are considering purchasing a home, you will almost certainly begin to ponder about real estate brokers’ hours of operation. It can be difficult to meet with someone during normal business hours if you’re like the majority of us and have an even moderately busy schedule (job, kids, you name it). So, how difficult is it to locate someone that is willing to work around your schedule? And, more importantly, what kind of hours does a real estate agent work?

Real estate agents’ hours vary

So, what are their working hours? The short answer is that everything is dependent on the agent. If you’ve ever looked for a home before, you’re probably aware that the majority of open houses take place on weekends, usually around brunch time or into the early afternoon. That is the amount of time that most real estate brokers anticipate devoting to their customers’ needs. What time is it on Saturday at 8 p.m.? Not likely at all. Even if your schedule only allows you to view houses on weeknight evenings, there is almost certainly an agent who will be able to accommodate your needs in this situation.

• When it comes to real estate agents, the 80-20 rule is frequently applied, according to Lee Dworshak, a real estate agent with Keller Williams LA Harbor Realty in Rancho Palos Verdes, California.
• They are most likely agents who work part-time, possibly around the schedules of their children or in addition to a primary career.
• You only have to ask.
• to 9 p.m.
• “That said, a great broker understands that this is an industry where we work around our client’s schedule, andwe do what we needto do to provide the best service possible, regardless of what time it is,” Roberson says.

Communication is key

If you are aware that your schedule is hectic, make sure to inform your agent of this before you begin working together. Before you sign a contract, have an open and honest discussion about how well your schedules will mesh. This will guarantee that you don’t sign up for months of mutual frustration with your partner. Roberson makes herself available for crises that arise outside of her normal working hours. However, she believes that preparation is essential. Consequently, if you need to plan a showing in the early morning or late at night, make sure to bring it up well in advance.

Roberson also points out that the property you’re interested in purchasing may be inhabited while it’s on the market.

Keep in mind that this inconvenience will only last a short while. A small amount of time sacrificed today will pay dividends in the long run. However, the good news is that, no matter what your working hours are, there is almost certainly a Realtor who can accommodate you.

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.

1. 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
2. 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.

Your Turn

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?

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 examine their personal commitments as well as their financial resources before committing to a profession that requires fewer than 40 hours per week. The flexibility to satisfy the schedule needs of one’s customers is critical to one’s success as an agent. Therefore, while it is necessary to guarantee 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, people who seek to pursue a part-time profession as a real estate agent must follow the same steps as those who intend 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.

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:

1. Make a list of your monthly costs
2. 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?

The hours are flexible for part-time real estate agents. While you can make up your own schedule, you need to make time to meet with clients and complete marketing or lead nurturing tasks. Also, be sure you set aside time for necessary administrative duties.

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.

Bottom Line

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.