In this article, I will share ten proven part time real estate agent tips that will guide you in your journey if you are about to start your career here. Being a real estate agent is a lot of work. If you are doing it part-time, know that your yearly income will be far less than anyone else.
Research says, on average, a part time real estate agent’s salary is under $25,000, or you can say that is the maximum money you can make if you do the work on Sundays and holidays.
Table of Contents
- Ten Best Part Time Real Estate Agent Tips
- 1) Know Your Local Real Estate Market Well
- 2) Treat It Like a Business
- 3) Know, Your Clients Always Come First
- 4) Know Your Numbers
- 5) Focus More on Lead Generation
- 6) Build a Website and Social Media Pages
- 7) Use CRM Software
- 8) Plan Everything with a Schedule
- 9) Be Very Consistent
- 10) Maintain Your Flexibility
- Last Words
Ten Best Part Time Real Estate Agent Tips
It’s business and a full-time job, but still, some people are doing it part and time and making good extra money, and in the process, when they think it’s time to leave the 9 to 5 jobs, they focus here full-time. If you want to do the same, here are those ten part-time agent tips to get started.
1) Know Your Local Real Estate Market Well
Learning everything about your local market will help you make better decisions about what to do next. Every real estate agent needs to know what’s happening in their local market, but a part-time agent must be on top of the current market conditions. The faster you know those details, the better the chances of your leads.
Look, you don’t have to compete with those big giant businesses that are making 100s of sales every month. You need 5 to 10 sales in a whole year to make that $25,000 with a one percent commission rate. Don’t compete with them, leave out of their way, and they will not hurt you. Remember, to them, you are nothing, and no one will ever allow a newcomer to take their business.
2) Treat It Like a Business
Real estate is a business. Don’t think I will just work on Sundays and sell those properties. No, you have to make a visit after your 9 to 5 job at night and maybe attain calls and emails on your working day like a full-time agent. You will be involved here completely.
Yes, you are doing your part-time, but you must give it the maximum time possible besides your day job, without taking any vacation or day off if you want to leave that job soon. Your primary job will feed you, and this will build wealth for you. Treat it that way.
3) Know, Your Clients Always Come First
Many part-time agents think I can prioritize the primary job, and if I have some spare time besides it, then I will focus on this business. If you do that, you will not be able to serve your client the way you would if you took it seriously.
Your customer service should be your main priority. It means you have to be responsive to your client’s needs and find a way to balance your primary job with them. How are you going to do it? It depends on you.
4) Know Your Numbers
Every real estate agent needs to know their numbers to run a successful business. The same thing applies to you as a part-time agent. It is all about numbers. It will tell you how much time you will have to put into your business to make that money.
You must know all the numbers in your local market. Like all the income and expenses, license renewal fees, MLS fees, brokerage fees, commission split, taxes, and marketing and advertising expenses, and then calculate how many deals you will have to close to have a good income or to cross that $25,000 mark.
5) Focus More on Lead Generation
As a real estate agent, you need leads lots of quality leads. On average, if 100 people call you, then know two or three of them will buy. It is all about how many people you reach per day. That is why, as a part time real estate agent put more effort toward lead generation. Use all the methods you know to get more people on the line, like:
- Cold calling
- Online and offline advertising
- Sending Direct mails
- Using door hangers
- Creating business card
- FSBO signs
- Using referrals from friends
- And many more.
But budget first, know how much you can spend on lead generation, then choose your marketing campaigns.
6) Build a Website and Social Media Pages
Part-time agents are scared of what their bosses will say about them. Don’t be a secret real estate agent. If you do that, the chance of your success will be low. Yes, they will criticize you but do it anyway. Tell them you deal in properties using your social media pages and a website.
Make a Facebook business page, Instagram page, or blog website, and share them with your friends, family, and coworkers. Who knows, a referral may come from your colleagues or your boos.
7) Use CRM Software
As an agent, you need CRM software in the process. There will have huge data to manage. Using a CRM will help you do that and keep track of your work, like follow-up schedules, advertisements, and other necessary work. You do not need to buy it, there is much free software you can try, like, Monday.com, and then you can move to a paid one for more options.
8) Plan Everything with a Schedule
Becoming a part time real estate agent will be difficult, especially finding a balance. That is why plan and schedule your work to manage your time effectively, as you might have to work on weekends or evenings sometimes.
Build a schedule that you can follow consistently. Think of your business as opening a store. The store will be open at an expected time, so people know when to reach out to them. It will make it easier for your clients to know when you are working.
9) Be Very Consistent
It can be hard to focus as you will deal with two jobs. But here, consistency is the key. You can not work for one month and then stop working after earning some money. That is not how you will build your wealth. You have to work consistently.
Early success is not good as you will face many setbacks in the process, and if you don’t work consistently besides those setbacks, you will not go far away. Once you overcome your challenges, your business will start to take off, and you will make good money.
10) Maintain Your Flexibility
You can take clients to show houses on the weekends, but you will still have to answer emails, take phone calls from clients, and pursue leads within business hours. That can be challenging.
If this creates problems with your primary job, look for a way to carve out some time in your daily schedule so you can devote some time to these activities. You have to maintain flexibility.
Being a part time real estate agent is harder than being a full-time agent. You have to manage two jobs at the same time. If you do not stick both of them, one part will fall.
If you focus more on your business, you might lose your job, and if you focus too much on your job, you will not become a professional real estate agent. The risk is huge. But it can be done, as many people have already proven it.
Ask it yourself the question, can you do it? If yes, then jump else wait for the right moment. I hope you understand the challenge and are ready to tackle it as a part time real estate agent. I wish you the best of luck. Thank you for reading this article.