Part Time Real Estate Agent

[Richard Miller]

Hello,

My name is Richard Miller and I am looking into the option of obtaining a real estate license for some part-time work. Currently I work as an analyst for a large company, with a decent salary, but I want to explore other opportunities to earn a additional income while I am young and have a flexible. An additional reason that I would also like to get my license for is assist in purchasing my own rental properties. I am curious if many people in this group have started out by going part time with real estate, while working a full time job and how that experience has gone for them. I realize that another benefit of doing this in allowing me to network within the real estate community thus furthering my knowledge of real estate. 

A few questions to help the conversation:

1. How many hours/week did/do you work?

2. How many transactions did/do you have each month?

3. What was the typical transaction split between you and your broker?

4. Did you find and use a mentor to help you in the beginning stages of becoming a real estate agent?

5. What other additional tips/advice do you have?

Thank you all for your comments. 

-Richard

[Brandon Thomas]

Hi Richard,

I would HIGHLY recommend being a part-time agent, simply just for the experience of seeing all types of transactions in the real estate world. Depending on the state you are in, I received all of my training for State and National online through TheCEshop. They are around $299 for the course, but cheaper than in-person courses. The biggest obstacle is finding the right brokerage that will not mind you working part-time and doing your own thing if it's not a "die-hard hustle", if you know what I mean.

1. It depends. Being a real estate agent is not my full-time gig, but it can feel like it at times. There will be days that I may not work at all on real estate, and then there will be days that feel like I've put in 10+ hours. It truly depends on what YOU want to put in. Again, find the right brokerage! It's key!

2. Zero to two/three ...again not my full-time hustle, so this is extra play money in commission.

3. It'll be 50% most likely starting out, but will expand the more transactions/years you've been with the team. There are brokerages out there that will make you pay a monthly fee if you want 85%-100% commission, but these aren't ideal starting out, I've learned.

4. YES! Interviewing different brokerages are ideal. Find the one that best suites you and your personality/goals.

5. Don't get discouraged if it takes you a couple months to land your first deal from someone OUTSIDE of your family. Just nurture your leads and you'll do fine. 

My question to you is, what state are you in?