Real estate 101: becoming a part-time real estate agent
If you’re here, you’re probably interested in becoming a real estate agent. However, are you sure you’re willing to quit your long-term job for it? How dedicated are you to your new career? Don’t worry; there are ways you can have your cake and eat it too with part-time real estate gigs. Real estate agents can work as much or as little as they want, so if you’re looking for a side-job that’s flexible with excellent earning potential, you just found it. But how can you become a part-time real estate agent?
Weigh your pros and cons
Like any career, whether full-time or part-time, being a real estate agent has its pros and cons. If you need some extra money, a real estate gig is the right path because you can earn some serious income. Your schedule can be very flexible since you’re the one setting up open houses and meetings with clients. Also, if you want to spread out your connections, expect to meet many people who can advance your career. On the other hand, balancing part-time work can be time-consuming if you already have a full-time job. Plus, expect to come across some severe competition.
Prepare the people around you
Once you decide to start your part-time real estate work, make sure to tell your full-time boss, college professors, friends and family that you’re getting licensed. Assure them that you won’t have any problems and even consider offering help with their real estate needs.
Get a license
Every real estate needs a license to offer services legally. The course you need to go through and its duration are different in every country and every state, but in short, you will need to get a certificate for property services (real estate) and take a few exams and pass your state test and get someone to work with or for. And don’t worry about your age. If you’re looking for a new career, adult apprenticeships connect apprentices to the right employer no matter the age. Professionals have an in-depth knowledge of the industry and work closely with businesses and partners to provide you with new skills and great opportunities.
Once you have your license, you will need to register to join your state’s real estate board. This is usually relatively easy, and you can find all information with a quick online search. You might even consider getting a realtor certification (available in certain countries). While people often use the terms “real estate agent” and “realtor” as synonyms, the latter is a copyrighted term for an agent who is a member of their national association of realtors and pays yearly membership fees. If you decide to become a certified realtor, you will access continuing education and market research.
Come up with a business plan
Whether you’ll make money as a part-time real estate agent or not depends on your ability to manage costs and project your income. Like with any business, to ensure you succeed in your venture, you’ll need a real estate business plan where you can estimate your spending, project earnings and track your expenses and progress.
Set up a work schedule
Even as a part-time agent, you still need to dedicate time to your gig every week. Put your “real estate time” on the calendar and share your work hours with your clients, so they know when to contact you. This will require some flexibility, but setting expectations and boundaries early on is a great way to avoid any scheduling issues in the future.
What do you think, is being a part-time real estate agent something you can see yourself doing? If yes, you have no time to waste—start your courses, get your apprenticeship and get ready to reap the benefits of your side hustle.
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