6 Tips for Becoming a Successful Part-Time Real Estate Agent
Becoming a real estate agent part-time is no simple feat. That said, it’s far from impossible. With a little hard work and due diligence, it’s possible to start to grow a successful real estate business between other commitments.
If you’re interested in following this career path, read on below — we have six tips for becoming an agent part-time. If you set aside time and follow them closely, you could be working in real estate in no time flat.
1. Get a flexible second job
If you’re going to be a real estate agent part-time, you need to have some flexibility in your schedule. The reality is that, in this job, your hours are going to be all over the map. You need to be free on some evenings and weekends in order to accommodate buyers’ showing requests. Yet, you’ll also need to be available during business hours in order to communicate with mortgage and title companies.
With that in mind, your best bet is to try and find a second job that accommodates those needs. If you can, consider freelancing, so that you’ll have the ability to set your own schedule. However, though it’s far from ideal, shift work is also an option.
2. Find the right brokerage
Unfortunately, finding a brokerage as a part-time real estate agent can be harder than it would be if you were working full-time. In most cases, it costs brokerages money to have agents working out of their offices and they only make money whenever an agent makes a sale. Many brokers don’t want to take the risk of accommodating someone who’s only planning to work part-time.
That said, it isn’t impossible to find a brokerage. You may just have to look a little harder. Start by focusing your search on brokerages that offer 100% commission. Even though that will mean that you’ll have a bill each month, you’ll have the freedom to work as much or as little as you’d like. If that’s not an option, opt for a brokerage that already has other part-time agents on-board.
3. Consider joining a team
Starting a real estate business from scratch is tough. Many new agents who are just starting out often join a team as a way of easing their way into the industry. Becoming part of a team gives you the opportunity to learn from someone more experienced while also providing an established business structure.
As a part-timer, joining a team can also have additional benefits. More specifically, you’ll have other team members to lean on whenever you have to be out of the office for your other job. However, if you decide to go this route, you’ll want to make a concerted effort to ensure you’re still pulling your weight.
4. Carve out time in your schedule
Like any other job, you won’t be able to be successful at real estate if you only work at it whenever the mood strikes. To truly make it work, you need to be dedicated, which means carving out time in your schedule to work on building your business.
To do this, you’ll want to set aside time to look at your schedule each week. Then, your goal should be to mark off blocks of time that can be dedicated exclusively to working on real estate. Once you’re done with that, decide what you’ll do with each block of time, whether it’s scheduling appointments, working on paperwork, or following up with leads.
5. Automate your lead generation and follow-up
These days, technology has made it easier than ever to try and be in two places at once. Automation has made it possible to connect with potential clients, even when you’re away from your phone or computer. If your other job requires you to be unreachable during your work hours, one of your first tasks should be to set up an automated text message or email campaign for leads.
However, it’s important to note that while automation will take care of your initial connection with leads, you’ll still need to reach out to them fairly quickly. Be sure to leave time in your schedule to follow-up with leads and to develop a procedure for how to nurture them until they become clients.
6. Invest in an assistant
Finally, if you’re only going to be able to work real estate part-time, you may want to consider hiring an assistant who can be available while you’re at your other job. Though it may seem like an expense, consider that while you have a steady income coming in, it may be worth it to have an extra pair of hands on-board.
While an unlicensed assistant won’t be able to go on showings for you or negotiate a sale, he or she should be able to take a lot of administrative tasks of your plate. He or she can field emails and phone calls, follow up on paperwork, and take care of your marketing and lead generation.