Using Real Estate License on Weekends to Host Open Houses?

[Cameron G.]

Hey all. I recently got my real estate license but am going to be working a regular W2 job [real estate related]. I really need the extra cash though so am going to be doing something on the weekends. A family member mentioned hosting open houses on the weekends. I don't know anything about that, but it sounded like a good idea. The idea is to find realtors in the area [Nashville] who maybe don't have time to host open houses, and to help them out by doing so for them. Then, perhaps I would have some kind of deal where if I find the buyer, I get a portion of the commission or a flat fee. Not sure if i would have to be affiliated with the same brokerage? 

Any thoughts on this? Any other ideas on ways to use the license on the side? 

Thanks!

[Brad Jacobson]

Hey Cameron,

You're starting along the right thought process but I'd take it further!  If you don't have time or the commitment to work as an agent yourself, your best revenue stream will come through giving referrals to other agents.  It's normal for a referring agent to get 25% of the commission, at least in my experience.

The reason you'd host open houses for others is to find new buyer clients that you could then refer out.  

If you want this side hustle to be profitable, you should consider doing all the normal things an agent would do to find clients which includes: social media, meetups, networking, etc.

Get in the mindset of finding new clients 24/7 and refer them out or take care of them yourself!