Top 5 Things to Know as a Part-Time Real Estate Agent
Being a part time real estate agent definitely has its pros and cons, but there are specific factors that may or may not persuade you to choose part-time over full-time. After all, throwing your whole self into something will often give you the better results, rather than trying to squeeze it into your already busy schedule. That being said, you have to start somewhere!
Here are five things to know as you start your journey as a part time real estate agent:
1. Keeping in touch with your sphere is even more important.
Since you don’t have time for farming and working leads, staying top of mind for those people you already know and talk to is essential. They’ll be your bread and butter for your real estate business. Make time for coffee/lunches and make sure to interact with them on social media, at the gym, your kid’s soccer practices, auctions, etc., etc.
2. Create a schedule and stick to it.
As a part time real estate agent, you have fewer hours to get things done than your colleagues, so making the MOST of that time is key. Being part time in anything means you have to be more purposeful about the hours you have in a day that are dedicated to that part of your life, and real estate is no different. In order to stay sane, try sticking to a very specific schedule. Pick three days a week you can show homes. Reserve two mornings for coffee meetings with past clients. Plan an hour or two each week for marketing. Whatever you do, make sure it works with your schedule so you can stay consistent with it and don’t burn out.
3. Collaboration is a necessary evil.
Since it’s not your primary business, you may have to share your commission with others. If you know you don’t have the time, pass the prospect or client along to a colleague you trust. It’s not ideal, but it’s better than only giving it partial attention and getting a less-than-desirable review that will live on the internet forever. Plus, let’s be honest, getting that referral fee is still a pretty nice pay day if this is just your side hustle.
4. Say goodbye to time off.
As with anything, having multiple jobs means less time off. However, in the world of real estate, this is true for pretty much everyone. Real estate has no “weekends,” so keep that in mind when you decide to take the plunge.
5. Plan on transitioning to full time.
Real estate isn’t really meant to be a part time gig – at least not by today’s standards, especially when you consider consumer expectations and how competitive being an agent is. Chances are you’re trying on the glass slipper to see if this new career is a perfect fit. If you love it and think it’s for you, plan on transitioning to it full time because you’ll: A. Be able to grow your business faster, B. Build a solid brand that keeps you top of mind, and C. Make more money.
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