Can You Work a Full Time Job and Be a Real Estate Agent?
Becoming a real estate agent requires not only an initial investment of time and money, but a leap of faith into a commission-based business with heavy competition. Some professionals, rather than diving in, choose to wade into the real estate field by working part-time as a real estate agent while maintaining their full-time job. Is this possible, or a recipe for burnout?
Becoming a Real Estate Agent While Working a Full Time Job
Becoming a real estate agent requires an initial investment. While working your full-time job, you’ll be taking classes, sitting for exams, and setting yourself up with a brokerage. This is a good way to test the waters to see if you will be able to handle the additional responsibilities and time investment in addition to your full-time job.
Finding Time for Part-Time Real Estate
After going through the classes, licensing, and investment of becoming a real estate agent, you will need to find a brokerage that will work with a part-time agent. Most brokerages will want to know that you can operate efficiently and have a plan to dedicate time to your real estate career. You need to have clear expectations of how you will manage your time. Many professionals who enter real estate as a second career find that time blocking helps them stick to a schedule. You will have to make some sacrifices in your free time as a part-time agent and you may need to dedicate several hours a day as well as weekends to building your real estate career.
Advantages and Disadvantages of Juggling Two Careers
There are definite advantages and disadvantages to working two jobs. The advantages are clear. You’ll begin to earn extra income without giving up the steady salary of your full-time job. The average part time agent can earn about $1000 each week, which is a definite perk. Since real estate agents already have the benefit of designing their own schedule, you can craft the time you dedicate to your career as a real estate agent around your other job responsibilities. Meetings with clients, open houses, and other face-to-face responsibilities don’t need to follow a traditional schedule, and your clients may see your hours as a bonus. Finally, you’ll continue making connections through both careers, meeting new people, and expanding your network.
As positive as the advantages are, there are disadvantages to juggling two careers. Becoming a real estate agent is attainable while working full time, but it is time-consuming. The more time you put into it, the more successful you will be, and if you need to add that time to a full-time work schedule, you may begin to run out of productive hours. You may have challenges when looking for a brokerage. Many brokerages will welcome a part-time agent, but not all of them will be able to work your training into the hours you are available. It’s certainly possible, but it may limit your options. Finally, you may find that investing part-time in a crowded and competitive market doesn’t produce the results you hope for. It may take you longer to find the success you envisioned when becoming a real estate agent.
Transitioning to a Second Career
For many people, becoming a real estate agent means leaving behind a steady paycheck for the risk of starting something new with no guaranteed yearly salary. As a real estate agent, you will have plenty of autonomy, but you will also take on the risk of a commission-based income. For some, a part-time start gives them the safety net they want while establishing their new career. The success may not come as quickly as someone who jumps in full-time, but the transition can be tailored to your comfort level.
It is certainly possible to be a part-time real estate agent with a full-time job. Many of your clients who are also working full-time will appreciate your willingness to find time with them outside of traditional working hours. But becoming a real estate agent isn’t a passive “side hustle”. You will need excellent time management skills and a willingness to be busy most of the time. Once you get started, you can determine if this schedule works for you, or you decide the best transition strategy. We are always looking for talented agents to join our team. If you’ve been thinking about becoming a real estate agent, contact Amberwood Real Estate to learn more.