Real estate can be an excellent side hustle or part-time job. It’s a great industry for a busy parent who wants to supplement the family income. Being a part-time real estate agent is also the perfect option for someone working full-time in another job who would like to work in real estate on evenings and weekends.
Of course, you may want to work full-time as a real estate agent but don’t have enough savings to jump into the career with both feet. Many full-time real estate agents start by working part-time. They transition to full-time when they have grown their client base and can meet their income goals.
Even if you know you are going to work part-time in real estate, you must get your real estate license. Here’s how to become a part-time real estate agent.
Key Takeaways
- Becoming a part-time real estate agent allows you to maintain a flexible schedule, making it ideal for those with other jobs or responsibilities, such as parents or full-time workers.
- The process of becoming a licensed real estate agent is relatively affordable and can be completed in a few months.
- Despite working fewer hours, part-time agents can still succeed by actively scheduling time for lead generation through networking, social media, and other strategies.
- Balancing part-time work with real estate demands can slow client base growth and make it harder to meet the fast-paced needs of the industry, but utilizing technology and outsourcing can help.
5 Steps to Become a Part-Time Real Estate Agent
According to recent data regarding real estate agent salaries, the average agent works more than 40 hours a week. However, part-time agents still do well in real estate, with the average salary reported to be $30,000.
What would you do with an additional $2,500 per month?
Here’s how to become a part-time real estate agent.
Step 1: Understand the responsibilities of a real estate agent.
Before going through the real estate licensing process in your state, it’s essential that you understand the duties and responsibilities of the role. A real estate agent is a licensed professional who assists clients with buying, selling, or leasing properties. However, what does this mean for someone who only wants to work part-time?
Here are three main tasks your clients will require you to perform as a real estate agent.
- Client interactions: A significant part of the job is guiding buyers and sellers through the real estate process. This includes understanding their needs, providing market insights, and helping them make informed decisions. Strong communication skills are essential, as you’ll answer questions, negotiate offers, and explain complex legal and financial documents.
- Property showings: As an agent, you’ll coordinate and conduct property showings. This involves setting appointments, preparing homes for viewing, and showcasing properties to potential buyers. This can be more challenging as a part-time agent, as you’ll need to find time during your available hours to meet with clients and schedule visits, which often happens on weekends or evenings when buyers are available.
- Paperwork and administrative tasks: Real estate transactions involve a lot of paperwork. From drafting contracts and submitting offers to ensuring all necessary documents are completed for closing, you’ll need to stay organized and detail-oriented. This can be time-consuming, especially for part-time agents who have to juggle these tasks with another job or personal commitments.
Of course, in addition to these client tasks, you need to spend time building your brand, getting leads, and growing your business. While a real estate agent can undoubtedly work part-time, those who work more can reap rewards!
Related Article: How Much Can You Make as a Part-Time Real Estate Agent
Step 2: Meet licensing requirements.
Do you have the capacity to work part-time as a real estate agent? If so, we have some great news! You can become a real estate agent in every state in a matter of months, and the licensing process is very affordable compared with other career training programs and college degrees.
To become a real estate agent, you must undergo a state-specific licensing process. Although the steps and their order vary from state to state, here’s the general process:
- Research your state’s requirements.
- Complete pre-licensing education.
- Pass the pre-licensing final exam.
- Apply for your state’s license exam.
- Take and pass your state’s license exam.
- Finalize your license application.
- Join a real estate brokerage.
Learn more about the seven steps to becoming a real estate agent and your state’s requirements to get started.
Step 3: Choose the right brokerage.
Real estate agents must work under the supervision of a broker, so you must find a brokerage in your area to partner with before you can show homes or oversee transactions. It would be best if you found a brokerage that supports part-time agents. You must let your brokerage know if you are only available at particular times throughout the day.
In addition to discussing your schedule and the number of hours you have available to work, you should discuss commission splits, desk fees, support, and training opportunities.
Related Article: Questions to Ask When Choosing a Real Estate Brokerage to Work For
Step 4: Build a client base.
New real estate agents, part-time and full-time, sometimes have difficulty building a client base and obtaining leads. However, it’s possible to maintain a presence in the market without working full-time.
Schedule time each week to work on your sales funnel. Here are some techniques for finding clients.
- Go door-to-door in your targeted neighborhood.
- Attend networking events.
- Participate in community events.
- Develop a robust presence on social media.
- Utilize an email campaign.
- Optimize your website.
- Write a blog.
Here are some additional prospecting tips to generate more real estate leads.
Step 5: Balance your real estate career with other commitments.
Are you concerned about balancing other responsibilities with your real estate career? Here are some tips.
- Use Technology: Proptech tools will help you get the most out of your shortened hours working as a part-time real estate agent. Sign up for training for your brokerage’s CRM platform and utilize all the tech tools your brokerage provides.
- Create a schedule. Designate specific hours for real estate tasks, such as client meetings or property showings, and stick to that schedule. Prioritize important activities to stay organized.
- Communicate your availability to your brokerage and clients: Set expectations with clients about your part-time hours, and be upfront about when you’re reachable to avoid overcommitting.
- Outsource or delegate tasks: When your schedule is tight, consider outsourcing administrative tasks or partnering with other agents to cover showings or paperwork. You could also hire a freelancer to help market your business.
- Consider joining a real estate team: Can you only dedicate weekends to your real estate career? Consider joining a real estate team. Team members may be eager to offload weekend showings to you.
- Consider working in a niche that fits your schedule: Commercial real estate and retiree work can often be performed during a typical work day, while residential real estate often requires free evenings or weekends. Grow a presence in a niche that works best for your schedule.
Related Article: Should I Work Solo or With a Real Estate Team?
Pros and Cons of Being a Part-Time Real Estate Agent
Are you considering a part-time career in real estate? Here are the pros and cons of working part-time in the industry.
Benefits of working part-time in real estate
- You can work a flexible schedule as a real estate agent.
- Even as a side gig, real estate can be lucrative.
- Working part-time enables you to test the waters to see if you want to do this full-time.
- You can become licensed as a real estate agent within a few months.
Drawbacks of working in real estate part-time
- Finding a brokerage that supports a part-time agent might be difficult.
- Client meetings may run over the scheduled time, making it difficult if you have other responsibilities.
- Some real estate transactions require quick responses and turn-around times.
- Having limited availability will slow down your ability to grow a client base.
Is a part-time career in real estate right for you? You can start within minutes by enrolling in pre-licensing courses with Colibri Real Estate School. Colibri courses are at your own pace, online classes that work great for students requiring a flexible schedule. Our courses are expertly designed to help you pass your real estate exam and excel in your career.
