In a location where property values are rising and homes are in demand, a part-time real estate agent can earn an attractive income. Their jobs can be difficult to manage with the addition of a primary job and life commitments. However, the rewards often outweigh the drawbacks. It is important to consider the advantages and disadvantages to better understand how to succeed.
Advantages Of Part Time Real Estate Jobs
One of the biggest advantages is the unlimited income potential. Agents may start by selling low-value homes. After building a reputation and gaining some experience, they may move on to high-value homes and commercial properties with higher commissions.
Another advantage is the potential for investment. Real estate can be a very rewarding investment in many locations. Agents who are good earners can later become investors. These individuals buy properties and rent them out or sell them. For example, an investor may find a phenomenal deal to buy a home for $1,000. After spending $50,000 on renovations, the investor may then sell the home for $100,000. Investors often learn about great deals before other agents and buyers find them.
Flexibility is another benefit of being a part-time real estate agent. In most cases, there is no set schedule. Most agents work independently. This leaves some time for social activities, family, school or a primary job. However, being successful requires a considerable time commitment.
Disadvantages Of Part Time Real Estate Agent Jobs
One of the main disadvantages of being a real estate agent on a part-time basis is training. Most agents pay upfront for their own training. They have to juggle their schedules to attend classes, and there are several tests and licensing requirements. For those who love a challenge, the process is demanding but rewarding.
Unfortunately, there is no time to breathe a sigh of relief after attaining a license. Agents must devote large amounts of time at first to finding clients and building a reputation. To do this, they must always be available. Clients may call at all hours of the night with questions. Agents must drive to appointments and prove themselves over and over to prospective clients who have other options. Those who have a primary job should be able to take some personal calls at work and possibly take time off when necessary.
The work does not stop after building a reputation. Agents must always seek out clients and impress them with their superior skills to maintain a solid reputation. The market is competitive, and there are other agents who are also willing to work hard.
How To Become A Part Time Real Estate Agent
Becoming a successful part-time agent requires time, dedication and a competitive edge. With these simple tips, it is easier to balance a primary job and be a successful part-time agent.
Start as a seller’s agent. Working with buyers often requires more time and is more demanding. By starting with sellers, new agents get a feel for the process of selling a home. Also, they gain a better understanding of what buyers want and how to entice them.
Offer multiple modes of communication. Since it is necessary to stay in touch with clients throughout the day, send an email or text message when it is not possible to accept a call. Also, consider an automated reply system that sends a message acknowledging their contact and ensures a quick reply.
Set up a client organization system. It is important to give new clients extra attention. Save clients as mobile contacts to identify calls from new or potential clients. Also, make an electronic file system. There are apps and programs that allow storage of digital files. Make use of these apps, and choose one that syncs with all mobile devices.
Build a strong personal brand. One of the biggest keys to success is standing out from the other agents by being unique and memorable. A powerful slogan or saying should accompany a personal brand image. Use social media to connect with people, and set up a blog. Encourage feedback and interactions. These mediums are great for free advertising.
These are just a few starting steps. Learning to multi-task while juggling a schedule can be challenging at first. However, it becomes easier with some practice. Success comes with perseverance, hard work and determination.
If you would like to learn more about a career in real estate please read our post “How to Get into a Real Estate Career“.