Posted by: Kaplan Real Estate Education
Published: September 26, 2019
Imagine having complete control of your career without sacrificing your current commitments. Sounds great, right? Increased flexibility and career control are reasons many people choose to work part-time as a real estate agent. Whether they’re busy parents, students, or semi-retired professionals, they all find that selling property part-time allows them to make extra money without the pressure and stress of a regular full-time job.
If you’re wondering if you can work part-time as a real estate agent, the answer is yes. Working part-time as a real estate agent is a great choice for those with extra time who genuinely enjoy helping others find exactly what they are looking for. Often, agents will choose to start their career in a part-time capacity to get established before leaving the security of their current full-time job. Many people, just like you, have successfully pursued part-time careers in real estate and are currently making extra money on their spare time. However, they didn’t get there without having a well-thought-out plan first.
A plan for starting your new part-time career in real estate is essential. Take a look at the following steps for ensuring your transition to a part-time real estate agent goes as smoothly as possible.
How to Work Part-Time as a Real Estate Agent
1. Take stock of your current finances and spare time.
It’s common for first-time real estate agents to not take home any income for a few months or even a year after they start. You’ll need to set aside a budget to sustain yourself during this time and also for initial start-up costs like marketing and staging. Set up a spreadsheet to budget your expenses for the first year to ensure that you’re managing your money closely. You’ll also want to take stock of the time you have to devote to real estate. Ideally, you’ll have 20 hours per week free for real estate activities. Identifying the time and money you have available to spend on real estate will set you up for success.
2. Get licensed.
To become a real estate agent, you’ll need to be licensed by your state to represent clients. Each state has unique requirements, including real estate courses that you will need to complete before becoming licensed and an exam that you’ll need to pass. Once you discover what your state requirements are, choose a real estate school that offers courses approved by your state to fulfill your education requirements and start preparing to take your exam. Luckily, there are many resources out there to help you make smart decisions.
3. Join a brokerage.
After earning your license, you’ll need to join a real estate brokerage in order to begin selling property. Choosing the right brokerage is a big decision. You’ll want to make sure that you’re asking the right questions during your interview so that you can determine if it’s the best fit for you. This isn’t your typical interview. When you meet with a brokerage, you’re attempting to determine if you’d like to partner with them. Take notes, and try to get as much clarity as you can into daily life at the brokerage. The more questions you ask, the better equipped you’ll be to make the best decision and succeed in your role.
4. Set your schedule.
If you have the flexibility in your current schedule to pick and choose the hours you devote to real estate, you can be strategic with setting your schedule. What times work best for your future clients? Chances are it’s after work hours and on weekends. Working when your clients are available will allow you to move processes along faster, resulting in happier clients and more sales.
5. Implement marketing and lead generation tactics.
To start working, you’ll need to find clients. Marketing and lead generation tactics will help you find clients and grow your business. Many new real estate agents have no marketing experience but are able to grow a steady base of leads by implementing a few key tactics, such as networking, email marketing, online presence on websites like Zillow, and more.
6. Focus on high-impact activities.
Since your time is limited, you’ll want to make sure that you’re spending it on the activities that will move your sales along faster and bring in new leads. Make sure you’re following up quickly with leads, implementing time-saving virtual staging for your listings, and scheduling each hour you have available on an online calendar, like Google Calendar. Making the most out of your time will speed up your sales and help you grow a steady stream of clients.
Becoming a part-time real estate agent is an ideal career move for many people who have extra time in their schedule and the patience to see their hard work pay off. If you put a well-thought out plan into action from the very beginning, you’ll have a better chance of success as a part-time agent. Ready to get started? Find your state from this list to see your licensing requirements.