If you’re reading this, you’re probably considering a career move into the real estate field but also asking yourself, “Can I be a part-time real estate agent?” Show
Yes. You can be a part-time real estate agent. Licensed real estate agents can work as many or as few hours as they want, making this career a near-perfect choice for someone looking for flexible, part-time work with excellent earning potential. Is a Part-time Real Estate Career Right for You?Having a flexible, virtually limitless side hustle is very appealing, but it’s not right for everyone. When we talk to potential agents about getting into real estate part time, they often base their decision on the following four questions: What Is a Part-time Real Estate Agent Salary?How much money can a part-time real estate agent make? There is no salary for a real estate agent. Whether you’re part time or full time, all your income is based on earned commissions. Typical commission rates for real estate agents are 6% of a home’s selling price, split evenly between the listing agent and the selling agent. A recent survey by Colibri Real Estate pegged the average annual income for real estate agents working less than 20 hours a week at $24,556. You’ll work as an independent contractor rather than as an employee. Ultimately, your income depends on your operating expenses and the number of sales you close. Your potential income is virtually unlimited, but there’s also a real chance that you may make no money in a given month (or actually be in the hole when you account for expenses). What Is a Part-time Real Estate Agent's Schedule?There’s no set schedule for a real estate agent, regardless of whether you’re full or part time. Business happens around your clients’ needs, which typically means you’re working in the evenings or on weekends. Most part-time real estate agents log anywhere from 15 to 30 hours a week working with or on behalf of their clients. Will Clients Work With a Part-time Real Estate Agent?Yes, clients will work with a part-time agent. Real estate clients care about the value you provide, the insight into the market you can offer, and the help you can give them in achieving their financial goals. There’s no index anywhere logging the number of hours devoted to it. Your status as a part-time real estate agent is nobody’s business but your own. Will Brokers Hire Part-time Real Estate Agents?To operate as a real estate agent, you must have a brokerage that sponsors you. A broker (someone who has met their state’s requirements in terms of experience, education, and an additional license) is someone who manages real estate agents. While some brokers are only looking for career-oriented, full-time realtors, others are happy to take on anyone with a license. Your options in terms of real estate companies to work for might be limited compared to your full-time colleagues, but there are indeed brokerages that will hire part-time real estate agents Getting Started as a Part-time Real Estate AgentIf the answers to the above questions have you fired up to begin your new side hustle, this section is for you. Here are the three steps you’ll need to take to get started as a part-time realtor. 1. Get Your Real Estate LicenseTo legally offer real estate services in the U.S., you need a real estate license. The length of time and cost required for obtaining a license will vary slightly depending on which state you live in, but the overall process is pretty much the same. Here’s a breakdown of exactly what you’ll need to do:
[LEARN MORE: How to Get a Real Estate License in 5 Easy Steps] If you’re ready to dive right in, we suggest checking out Colibri Real Estate for your prelicensing courses. They offer options in just about every state. Visit Colibri Real Estate 2. Carve Out Time in Your ScheduleSince real estate is a part-time gig, it will be essential to set some schedule boundaries right out of the gate to ensure that your real estate obligations don’t intrude on your other professional, familial, and personal commitments. Here’s a couple of pointers on how to do this:
3. Set Up Systems for Part-time Business SuccessEven though a part-time realtor may be devoting less time to their business than their full-time counterparts, the tools they’ll need to be successful are still the same. Here are the systems you’ll need to have in place if you want to start your business off on the right foot.
Want more resources for successfully launching your part-time real estate business? Download our Part-time Real Estate Agent Launch Guide for detailed instructions on making your first four weeks in the industry the best they can be. Part-time Real Estate Agent ResourcesGetting started in the real estate business can be challenging, especially if you don’t have experience as a business owner or entrepreneur. To help with your transition, we put together some handy resources to help you turn your business dreams into reality. We invite you to join our Facebook Mastermind Group for some ongoing mentorship from experienced real estate pros. Subscribe to The Close Pro to get our exclusive marketing and lead generation boot camps, on-demand video training, and must-have downloads. Real Estate 101: How You Make MoneyReal estate can be an extremely rewarding career, and the life of a part-time real estate agent is exciting and varied with lots of opportunities for success. If you aren’t completely clear on how the real estate business works, not to worry. Check out this graphic that walks through exactly how your flow as a real estate agent will go from start to finish. Understanding Operating Expenses of a Part-time Real Estate AgentIf you don’t know what kind of expenses a real estate agent is going to incur on a monthly or yearly basis, it’s tough to make a business plan to account for them. Below are some typical costs of doing business as a part-time real estate agent.
To make your part-time real estate business profitable, you’ll need to earn more in net commission income (NCI) than your expenses. To learn more about gross commission income (GCI), net commission income (NCI), and how to calculate both, check out What Is GCI & Why It Matters to Every Real Estate Agent. 3 Tips for Balancing Your Part-time Real Estate Career With Your Full-time JobFinding the balance between your part-time real estate business and your full-time job can be tricky, but it’s very doable. Here are three tips for finding that balance early in your new career.
Competing for Business With Full-time Agents: The Secret to SuccessYou might feel intimidated by the idea of having to compete with 20- or 30-year full-time real estate veterans for business, but here’s the secret to marketing yourself that will set you up for success: Make your personal brand messaging about the value of your skills and market knowledge, not about your length of experience. It’s true that you won’t be able to compete if the decision is made based on the number of closed transactions, but that’s rarely the most important factor on a client’s mind. Real estate clients choose their agents based on the skills they bring to the table; skills that will help them get to their desired outcome. Are you a fantastic negotiator? Are you ultra-connected in your community? Do you have a savvy marketing background? Are you skilled with video and social media? Are you someone your clients are actually going to want to spend time with? At the end of the day, real estate is a relationship business. Your interpersonal skills and responsiveness matter more than your time on the job. All of these things matter more to most buyers and sellers than the number of houses you’ve sold or how many hours you have to devote per week. [Related Article: The Close Names eXp Realty the Best Real Estate Company for Part-timers in 2022] Part-time Real Estate Agent Launch GuideWhen you’re ready to get your real estate business off the ground, you want to make sure your first four weeks are all moving you in the right direction. We’ve put together the Part-time Real Estate Agent Launch Guide with a week-by-week breakdown of how you should be spending your time to get your business off the ground. Download Your Part-time Real Estate Agent Launch Guide Your TurnWe’d love to hear from you on what is drawing you to the real estate field, and where you are coming from. Are you currently a part-time real estate agent? What has your experience been like so far? What part of real estate makes the most money?Real Estate Broker
A career as a real estate broker is one of the highest paying and lucrative professions in the real estate industry. On average, experienced brokers take home a six-figure pay. You can only achieve this number once you get a significant amount of good reputation.
How much do part time real estate agents make in NJ?As of Oct 17, 2022, the average annual pay for a Part Time Real Estate Agent in New Jersey is $62,666 a year. Just in case you need a simple salary calculator, that works out to be approximately $30.13 an hour. This is the equivalent of $1,205/week or $5,222/month.
How much do first year real estate agents make in Indiana?How much does a First Year Real Estate Agent make in Indiana? As of Oct 27, 2022, the average annual pay for a First Year Real Estate Agent in Indiana is $80,723 a year.
How much does a part time real estate agent make in San Diego?$2,646 is the 25th percentile. Salaries below this are outliers. $7,443 is the 75th percentile. Salaries above this are outliers.
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