You are not alone if you are looking for a side hustle to help you reach your financial goals. However, you also want part-time work that is interesting and offers potential for impressive earnings and perhaps advancement. Real estate checks those boxes and more, and yes, you can work in real estate as a part-time job. You may have to make some adjustments, but it is a valid option.
Of course, you have to expect that your earnings as a part-time agent will not be as high as those of agents who work full-time. Additionally, you will still be spending money on operating costs, such as marketing, lead generators, cellphone, gas for your car and other expenses. You will be smart to obtain as much information and knowledge as you can before starting out on your part-time venture.
How to get started
Ask yourself why you prefer to work part-time in real estate instead of jumping in with both feet. Many do so because they are concerned about the risk of working full-time in a job in which pay is solely based on commissions from sales. Others are not looking for any kind of full-time work, and still others love the idea of having a flexible, part-time job with potential for great wages.
If you are considering real estate as a part-time gig, you will still need to obtain your license to be an agent in your state. You will also have to find a broker who is willing to take you in on a part-time basis. Additionally, the following are common steps to take when entering real estate part-time:
- Make sure your full-time boss is willing to accommodate your second job.
- Set aside time to build a business plan and work schedule.
- Brainstorm ways to generate clients.
- Network with other real estate professionals, both full- and part-time, to find mentors and advisors.
- Create a budget that includes your living expenses and business costs.
Always allow time in your week for resting, which is not easy if you are working two jobs. Real estate can be tiring and requires a great deal of energy and enthusiasm. Therefore, including sleep, leisure and self-care in your schedule will help you stay at the top of your game.
Stick with it
As a part-time real estate agent, there is a chance you will run into some frustration as you compete for clients with full-time agents. You should not let this deter you. Instead, continue to gain experience and grow in your knowledge of your business and the area in which you work. You might even fall in love with the gig and decide to go full time.