Whether you have a dream to become a millionaire or just earn some extra cash for your pocket, getting a part-time real estate job is a great option. There is nothing wrong with working part-time as a real estate agent. Perhaps you are a single parent or a college student and can't put your whole time into this job. Many agents choose to work part-time their whole lives. The key is to never let your part-time status affect your services to the clients.
But the question remains, how does a part-time real estate job work? Here is a quick insight:
In order to work in real estate, you can either be a broker or an agent. An agent is primarily focused on selling real estate properties while a broker is busy managing real estate agents. So as an agent you work with buyers and sellers and assist them with their property buying or selling needs. In terms of earnings, you are paid a commission for each sale you help.
Out of this commission, you pay your taxes as well as pay your broker for helping you find a deal. And after that, the rest goes directly to you.
As discussed earlier, the first thing you need in order to get a part-time real estate job is to find yourself a broker to work under. It is obvious that there are a lot of options to choose from. Each broker will have a set percentage for their charges. Talk to a bunch of brokers and compare what they offer you. While brokers are always looking for agents, do not forget to pitch yourself.
Real estate agents are required to take a licensing exam. It is recommended to take a class that can provide you with an insight into what you can expect from the exam. Moreover, it will help you with developing a knowledge base that can help you in your career as an agent. Since you are looking for a part-time job, the best way to take this class is online.
Once you have cleared your exam and gained your license, it is time to register yourself. An MLS is a Multiple Listing Service that is a centralized service varying in terms of locations. Join your local MLS to list properties for sale as well as gather information on the real estate market. You may also seek assistance from your broker who can provide you with the necessary details
Now that you have a license and are ready to sell, you are officially a real estate agent! But is that all you need to know? Since you are going to be working part-time, it is important to keep a few things in mind.
Real estate can be a demanding job even if it is only part-time. Hence, it is essential for you to prepare a schedule to follow. Take out your planner and plan the four weeks of your month accordingly. Evaluate the time you spend on your full-time job and calculate what portion of your time can you invest in real estate. While fixing your schedule always keep in mind your client's needs primarily. You need to be available as per their requirements.
The first few weeks might seem intimidating. But don't let it pull you down. Take some non-work hours each week to create a balance. Just keep in mind to give your best, and the rest will follow through. Good luck!