Is Becoming a Part-Time Real Estate Agent Right For You?
According to recent surveys, one-in-three working Canadians have their own side business. And over 40% of Canadians work more than one job.
Some reports say those numbers may have even increased during the global pandemic, as we all try to remain stable and financially secure.
Yep, we are most definitely in the era of the side hustle. And that includes real estate side hustles.
While full-time real estate agents may scoff, working as a part-time real estate agent is often eyed as a side hustle opportunity.
Real estate agents are like “solopreneurs” in the sense that how much they work is mostly up to them; they make their own schedule, they choose their own clients and their success is entirely in their hands.
That being said, part-time real estate doesn’t make sense for everyone. This post is about figuring out whether part-time real estate makes sense for you.
Considering taking the plunge into part-time real estate? Keep reading.
Becoming a part-time real estate agent could be a good fit for you if …
You have a flexible schedule
A real estate job won’t require you to be in the office each day from 9 a.m. to 5 p.m. But you will need wiggle room in your current schedule if you want to be successful as a part-time agent.
Listing appointments, open houses, client meetings, walk-throughs … they don’t happen on the same schedule. If your primary job comes with a flexible schedule, then part-time real estate could work for you.
You want to pursue a niche
You’ll be competing with full-time agents who are focusing entirely on real estate, and who have more time and energy to dedicate to their work. Having a specialty can help you stand out as a part-time agent.
You’re financially stable
A job in real estate shouldn’t be seen as a get-rich-quick scheme. There is no guaranteed income; you have to work for every dollar. That can come with great reward … and great risk.
If you’re considering becoming a part-time real estate agent because you want to supplement your existing income, then it might be right for you. If you’re relying on your real estate side hustle to make ends meet, you might want to look at a different secondary job.
You have the resources to dedicate to training
Real estate requires initial training to become licensed and additional training to become and remain proficient.
This training isn’t free. And it’s not quick. You’ll need both time and money to dedicate to your real estate education, even if it is a side hustle.
You don’t mind working evenings and weekends
A flexible schedule is one matter. Working evenings and weekends is another. And it happens all the time in the world of real estate.
Late nights preparing offers and answering emails. Showing clients houses on Saturdays, hosting open houses on Sundays.
If you’re not okay with the job eating into off-work hours, look for a different side hustle. In real estate, off-work hours don’t exist.
Real estate is a people business. It requires a ton of face-to-face time, emotional intelligence, tough conversations, convincing, leadership and bargaining.
All of that is pretty hard when you’re introverted or shy. It’s much easier to do and to do well when you’re naturally outgoing.
You have excellent time management skills
Real estate requires strong and disciplined time management skills. It’s even more important for part-time real estate agents who are juggling the demands of another job.
Real estate agents balance client meetings, listing appointments, showings, open houses, negotiations, contract prep, paperwork, marketing, networking, and so on.
To handle all that and another line of work … you’re going to need bulletproof time management skills.
You have complementary skills
Real estate agents do more than just sell.
To be truly successful, an agent also needs to be able to run their own marketing. To weigh in on design and architecture. To be a strong writer. To have a working knowledge of home systems, maintenance and repairs. To event plan.
If you already have some of these skills, you’re better positioned for success as a part-time real estate agent.
Maybe you have website design experience and creating your real estate website will be a breeze. Maybe you work in social media marketing and running Facebook Ads and creating Instagram Reels is second nature. Maybe you’re an interior designer, or a sales rep, or a home inspector.
If you’re ready to hit the ground running when it comes to some of the other secondary skills required by a job in real estate, your transition into part-time real estate might be a bit smoother.
Why do you want to work part-time in the world of real estate?