If you want to get into real estate, but you don’t have 40 hours each week to devote to it, you might be wondering Can you sell real estate part-time?
The short answer is of course! There’s nothing keeping you from practicing real estate around your current schedule. Whether you can only work on real estate while the kids are at school or only on evenings and weekends around your day job, real estate offers the flexibility to work the hours you can.
The reality, however, is a lot messier.
In practice, many brokers will hesitate to onboard a part-time agent because part-timers typically don’t bring in the revenue full-timers do. And speaking of revenue, it can be difficult to land clients when you’re only available during specific hours of the day.
Let’s take a closer look at the pros and cons of being a part-time real estate agent. Then you can decide for yourself if it’s a good fit for you; can you sell real estate part-time?
Advantages of Selling Real Estate Part-Time
Let’s start with the pros of selling real estate part-time.
1. You can keep up with the rest of your life.
The reason most part-time agents choose to be part-time is because they have a full life outside of real estate. Family obligations or a day job might prevent you from working as a full-time real estate agent. But you can still practice real estate around your current schedule. You just need to be well-organized and communicate your schedule clearly to potential clients.
2. You can continue earning a stable income.
Establishing a stable income as a real estate agent is difficult. It takes time to build your client base, get a few deals in the pipeline, and then get paid. Nearly all real estate agents work on commission, meaning you only get a paycheck when you close a deal. And closing a deal takes time. Even if you somehow sold a home on your first day as a real estate agent, you would need to wait 30-60 days to get paid because that’s how long it takes to complete the escrow process and close the deal. Realistically, it takes most new agents somewhere between 30 days and 6 months to sell their first home.
Having a day job means you have a stable income to support yourself as you build your client base, get your first contract, and go from contract to close.
One idea: if you need a day job to provide income while you transition to real estate, why not get a day job in the real estate industry where you can gain some experience? Leasing agents, property managers, apartment directors, and real estate broker assistants are typically paid stable hourly wages or annual salaries.
3. You can see if real estate is the right fit for you before jumping in full-time.
You wouldn’t be considering a career in real estate if you didn’t expect to enjoy it, right? But the reality of selling homes often misses the high expectations we have for this flexible and lucrative career. Starting part-time, perhaps by representing close friends and family, allows you to experience the day-to-day life of an agent before fully committing.
If you can get a day job in a related field, like apartment leasing, you might be able to tell if you’ll enjoy selling real estate before making the leap.
Disadvantages of Selling Real Estate Part-Time
And there are cons of selling real estate part-time. Here are the disadvantages you should consider.
1. You may have a hard time finding a broker.
All agents are required to work under a supervising broker. So you’ll need to find a broker before you can start practicing real estate.
Don’t get me wrong; lots of brokers will hire part-time agents. Since they don’t have to pay you a salary, it doesn’t cost them much if you fail to perform.
But many brokers invest in their agents. They might pay for office space, office furniture, a phone, or a webpage for you. Even the overhead costs like electricity, office administrators, and Internet service are better spent when the broker hires full-time agents who are more likely to produce a better ROI.
Call around to some of the brokerages in your area to see if they would consider hiring a part-time agent before you decide if you can sell real estate part-time.
2. Clients may be skeptical of working with a part-timer.
Buyers and sellers want to be represented by a real estate professional. Which is fair. In most markets, most agents charge the same 3% standard commission, so clients don’t have to pay more for an experienced, full-time agent.
How can you convince a buyer or seller that they’re in better hands with you as a part-timer than they would be in the hands of a full-time professional?
3. You could miss sales because you can’t work around the client’s schedule.
Let’s say you’re trying to practice real estate while the kids are at school. But then you get a call from a buyer who wants to tour a home when they get off work at 6. Can you accommodate that appointment with the kids at home, needing dinner and help with homework?
While real estate schedules are flexible, you also need to work around your clients’ schedules. And in today’s instant-response culture, most clients will expect a response to their inquiries within minutes, not hours.
4. You’ll make less money.
Even when you work efficiently, it’s difficult to make full-time money on a part-time job. There is good money to be had in real estate, but it requires time and effort.
Can You Sell Real Estate Part-Time?
After reviewing the pros and cons of selling real estate part-time, what do you think? Can you sell real estate part-time?
If you want to give it a try, check out our post: 5 Secrets to Success as a Part-Time Real Estate Agent (spoiler alert: the first tip on that list is to make a plan to go full-time, but the other four tips will help you make the most of your part-time real estate career).
How to Start Selling Real Estate
Whether you decide to start selling real estate part-time or full-time, check out our free New Real Estate Agent Checklist for a list of steps to prepare you for a successful career. We’ll explain how to get your real estate license, how to find your first clients, and how to build your business.
