Is there a such thing as a part time realtor?

Question

I am currently a teacher at a public school in the Bay Area. After listening to many episodes of the Biggerpockets podcasts, I have been very interested in pursuing real estate investing  along side continuing to teach. I currently have a one rental property in the Bay Area and I am looking for other ways to supplement my salary from my full time job.

Does it make sense to pursue a real estate license and try to balance both being an agent and teaching?

I would like to describe myself as a person who is "all in" at my job. If I were to be a agent and a teacher at the same time, would I be able to sustain this "all in" mentality for both jobs?

Rick Albert · Answer

If you can overcome these challenges, then I say go for it:

-How will you navigate time sensitive details during the day? Things like attending inspections, appraisals, answering calls from 9-5 vendors (such as lenders, other agents, etc.) Remember that deadlines are based on calendar days and no one cares what your schedule looks like.

-Are you concerned with burnout? You work your teaching job, and then nights and weekends on real estate. Agents get burned out doing it full time.

-Why would a client work with you doing it part time, when there are full time agents?

-They say on average the first transaction for a full time agent takes at least 6 months to a year. I have worked with clients for literally months and they decide to rent. One of my clients took almost a year to the day before we closed. I've had both buyers and sellers that never close. The problem is you have more expenses upfront (gas, photography, etc.) before you even close your first transaction. Are you okay with this?

-There is a misconception on how much agents actually make. Let's say you close on a $1,000,000 transaction. Gross commission is $25,000. But then you have your broker split, which could be 60/40 for new agents. That means you instantly lose $10,000. Take a 1/3 away for taxes, and you are at $10,000 before expenses and factoring in your time. Believe it or not, you could end up at minimum wage.

-I'm always of the mind set for side hustles that it should either be (1) low skilled like Uber or (2) within your existing skillsets like in your case, tutoring. Is there a side hustle with better ROI?

I'm not saying don't do it. I'm just saying do personal reflection.

Scott E. · Answer

I've met a few part-time realtors over the years.

Being a realtor is definitely one of those jobs where the more hours you put in, the more you get out of it. That's why so many realtors end up working from 8am - 8pm, Monday through Sunday.

You not being available or accessible during school hours will make it more challenging to land clients. But there are still clients out there who will be patient with your schedule (because perhaps they too work the same hours anyway, so they don't need access to you during the work day).

I say go for it, especially if you see yourself eventually leaving the teacher job to pursue real estate full time. It would be nice to get the schooling out of the way and establish a little bit of a foundation in real estate before you left the school.

Matt Crawford · Answer

I know David Greene (Bigger Pockets Host) Started off working full time as a police officer and worked his agent business on the side until he had to take it full time. You can do both and scale up as you grow your client base.

Ethan Jennings · Answer

I am a teacher and a part time realtor.  It can be done.  2023 is my fifth year doing both.  Planning your weekly schedule ahead of time is crucial.  I have systematized the process for active transactions.  Some things that have made this possible.  My brokerage is supportive of all the agents and compiles MLS data for our review.  I went through additional trainings, was given a mentor, weekly meetings are recorded, my brokers always answer their phone if I call them.  Where it is difficult for me is the marketing piece.  Doing a good job with marketing takes time that I cannot afford to use if I am to have any sort of balance in my life.  I have rarely run into an issue with clients needing to see a house when I was at my teaching job.  I do save my personal days to do inspections and closings.

Ray Hage · Answer

It can be done part time but you need to have a very flexible schedule and be willing to work weekends as well if you are going to be at the school M-F. If you are able to do showings in the evening after work and on weekends, you could be successful. You'll need to be doing research on markets/ neighborhoods/ properties, emailing/texting clients and and networking w/ local RE groups in the "off" hours (for example later in the evenings). It won't be easy but it can be done.

Ran Iarovich · Answer

I know many part time realtors who made it. It really depends about being conscious with your time. If you are able to get a layout of your goals for the year - break them down to what you need to do every month, every week, and every day. Knowing how many calls, open houses, and appointments you need to go to will give you a better idea of how much money you will net, how much time you will spend, and if being a real estate agent is the right approach while you are working part-time.

Jay Hinrichs · Answer

being a residential agent could be very difficult outside of your warm market  IE other teachers family and friends.

there are other sales positions though that could cater to nights and weekends.. Timeshare .  Land sales  Vacation fractional sales

some leasing gigs etc etc..

Carlos Ptriawan · Answer

There're lot of part-time realtor in the bay area, so they work into a brokerage that's 100% under commission based only.

Is there a such thing as a part time realtor?

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