Is a part-time real estate agent possible?

Real Estate Agent
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Is a part-time real estate agent possible?

Kayla Santangelo
Member since 2021 · 47 posts · 14 votes

Hi all! I've been reading and listening to podcasts pertaining to real estate agents and real estate investment. I plan on in January taking the real estate pre-licensing course. I am currently a nurse working 5 days a week so I will be taking a night class. I'm just trying to figure out when I begin working as an agent how to go about it. I am sole provider for my family at the moment so to go from a steady salary to commission is scary. Did any of you all start out part time doing this until you got the hang of things/had more money saved up? If this was a part time gig for some, did you find it hard to be available for clients because of your other job and what did you do? I eventually would like to be full time. Just wanted to hear from others who have been in a similar situation and how they handled it. Any advice is appreciated!

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Max T.
Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
4y

@Nathan G.

I’m licensed and do it part time. I agree that I don’t make much money at it. But I do close a couple each year (mostly my own buys). And I get mls access, can schedule my own showings, and can write my own lowball offers. To me it’s worth it and all the expenses are tax write offs. I probably do a bit better than breaking even 😅

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    @Steve Milford thank you so much! I love to see you are making it work. Definitely may pick your brain more the further I progress into the role. 

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    @Nick Peters thank you for your input! I realize that too, which was why I wanted to see if any people have been creative in their part-time endeavors and making it work for them. I don't want it to feel like I'm doing it half-hearted. 

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    @Michael Williams thank you for your input!

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    @Michael Maslanka 3 12s would make things much easier. I want to it make worth it! Trying to in soak as much knowledge as possible. 

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    @Joel Owens wonderfully said. I definitely take your words seriously. I want to be fully committed. I will continue to save money each month. I so want to make this happen. I have an entrepreneurial spirit and I love business and I feel so restricted in nursing when it comes to that. But I will say nursing has primed me to be a hard worker. I want to be great at what I do no matter what it is. I love to learn and I am absorbing all that you all are giving me right now and I am truly thankful for each and every person who has given me their input/advice.  

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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    4y

    @Kayla Santangelo

    The two big issues are as follows

    1) You will be a part-time real estate agent who will be competing with those who spend 40+ hours on the job looking for buyers and sellers

    2) Real Estate is very fast paced. You may be put in a situation where a client is asking you to put in an offer but you are busy at work and you are unable to respond.
    You may respond after work but then you are giving up time for eating, family, etc.

    It can be done but it will be challenging.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    4y
    Originally posted by @Matthew Irish-Jones:

    @Kayla Santangelo I got my license while working full time and left a high pressure, large time commitment job to do Real Estate full time. I am the only provider for my family of 5 as well.

    I woke up at 4:30am for a very long time and worked 60-100 hours a week for 2+ years including working every weekend. Just now I’m slowing down and have agents under me. We are projecting to do 30 million next year with all of the business generated by me.

    It can be done but it isn’t easy and you need to take the time from somewhere. It’s either going to be your family or your current job or you can sleep a lot less.

    Or maybe you can just make a little extra money doing sales on the side but it takes time and effort. You will be in a perpetual cycle of 60+ hour weeks if you don’t pick eventually.

    whats your median price sale there.. 30 million is a good number..  my wife last year did about 25  million herself.. but we have a average sale point at 600k or so.. my daughter in vegas did about 12 mil and only sold 10 houses LOL.. now she has the gig.. she just wrote a 3.7 mil deal.  my wife sold a 6.5 mil deal this summer her highest ever. 

    my daughter is a full time mom to 3 kids so its possible to make good money and raise a family.  But she is not the sole provider her hubby does well to..  my wife we before we were married was a single mom raising 3 girls and was a full time agent and did well she was and has always been a top producer.. its not easy though and you need to throw the time clock out the window.

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  • Matthew Irish-JonesBusiness Member
    Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
    4y

    @Jay Hinrichs our average sale is somewhere around $200,000.  We are just under $20,000,000 fiscal year 2021 but, based on closings in the first quarter, repeat business, and incoming leads we think we will do just shy of $30,000,000 next year.  That business is 98% investment properties.  We have a distinct advantage over other agents locally because we offer property management and construction services as well as the investor focused agents.  Out of that $20,000,000 a large % of our business is out of town investors needing the full range of services.  

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    4y
    Originally posted by @Matthew Irish-Jones:

    @Jay Hinrichs our average sale is somewhere around $200,000.  We are just under $20,000,000 fiscal year 2021 but, based on closings in the first quarter, repeat business, and incoming leads we think we will do just shy of $30,000,000 next year.  That business is 98% investment properties.  We have a distinct advantage over other agents locally because we offer property management and construction services as well as the investor focused agents.  Out of that $20,000,000 a large % of our business is out of town investors needing the full range of services. 

    I like it your a true turn key operator  good job.. but even better you dont have to buy the inventory to resell it.. no holding cost.. although I maybe can guess you might buy a few of them.. but nothing is more profitable than not having to actually buy the inventory you sell.

    its one reason why the turnkey brokers we see do so well..  they are just brokers making fee's and earning their dollars that way..

    Keep it up !!!

    My self starting in the SF bay area 200k median price point left the barn in the early 80s  LOL..  

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  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    4y

    @Kayla Santangelo

    It’s possible to work part time and make 6 or even 7 figures..

    I am not taking about a newbie starting off and still keeping their 9-5.

    I am talking about a season vet who only needs to work 25-30 hours a week bc their network is so strong and deals are in 8 figure range. Yes not your prototypical residential but commercial land and real estate development broker..

    My advice to all brokers.. if you want to make more and work less.. keep on learning all asset classes until you reach the jugular of selling land development.. you will forget about residential..

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    Thanks for the advice!

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    Thank you for your advice! I know at some point I'll have to choose where I sacrifice my time from. 

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  • Eudith VacioPro Member
    Real Estate Agent · Chicago & NWI · Member since 2015 · 860 posts · 521 votes
    4y

    Hi Kayla!

    I completely agree with all the statements on here. I was PT for a year until I got super busy, and then the pandemic hit ( a blessing in disguise) and we I went remote at my job. I was able to be more flexible with my clients and accommodate their showing requests, and even prospect for leads. However, if I didn't have the remote work as an option, it would have been very difficult for me to advance my career in real estate. I would have had to make the decision to quit my corporate job. I was able to balance both until the 2nd year in real estate in which I quit and went FT in real estate. NO REGRETS!

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  • Kayla Santangelo
    OP
    Member since 2021 · 47 posts · 14 votes
    4y

    @Eudith Vacio that's great how that worked out! I'm trying to figure out the best way to phase out of my current career. At some point I will have to drop some of my hours by going part-time, then work on a as needed basis, and then just leaving. I guess it depends on how much my current employer is willing to work with me. 

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