Staring off a career in real estate can be difficult times, it will take some time before you become established, forge relation with multiple other real estate agents and making your first bonus. It can be stressful when starting out but do not tire or sulk.
A lot of agents start out as part time and this could be the difference between success and failure if things don't take off from the start. In this column we are going to answer the all-important question Can You Be a Part
Time Real Estate Agent?
Being a part time agent is highly beneficial as it will supplement your current income, it will also help you to know your strength and weakness before venturing into it full time. This is the right ways on how to be successful when working part time. In this section, we will tackle the issue of Can You Be a Part Time Real Estate Agent. The following are the requirements for you to succeed working part time.
Working two jobs at once can be tricky, in real estate availability is vital whenever the client may require you. If you are not available when called upon the client will always look for another time.
When closing deals, you will also have to factor in the schedules of other players in the industry like lawyers, inspectors, seller’s agent and building managers. Being flexible in your two jobs is very important.
Since you will not be working full time as an agent, always ensure that your first job is well paying and can fully cater for your daily need for you and your family if you have one. Ideally, we all want financial stability especially when you see that the real estate sector is not viable when starting out.
Before you become a real estate agent as per the law you are required to be licensed. Having the right education will equip with all the knowledge, skill and techniques to make you successful in this business.
Focus on rentals
When working part time focus your entire energy on rental deals as they can be closed swiftly in a matter of days, you will be able to get commissions and also getting the experience of working with other clients which will come in handy when you finally decide to go in full time.
However, working part time can also have its disadvantage:
Difficulty in finding a broker
Many brokerage firms will not want to cover for business expenses like office supplies to agents who work part time.
Balancing work and life
Working two jobs will keep you on your toes 24 hours a day. Getting time to spend with your family or going on holidays will be scarce. Always plan ahead so as not to suffer burn out.
Splitting of commissions
If you are working part time you will require the assistance of other agents when you are not available. When closing deals always negotiate a percentage that you will share with other agents who covered for you, though split commissions will result to lower earnings.
Working part time can be very rewarding and lucrative though it has its downside. Always plan your schedule in advance and establish contacts who will generate leads for you even when you are not available.