Part time real estate agent

14 Replies

What service/value could a real estate agent offer to an agency on a part time basis? In my situation I have a full time job as a banker and work with real estate from the credit side, but want to start learning about it from other perspectives. I work and live in the Cleveland Ohio area, and am interested in the opinions of the BP Members who are brokers in this region.

@Al Casino  I think the old adage "You get back what you put in" is appropriate here.  In my opinion, being an exceptional broker requires your full attention and time for your clients.  This means late night phone calls and emails, Saturday and Sundays, giving up dinner with your kids, etc.  In order to have great success (and earn great fees), you have to work harder and smarter than the competition.  However, If you are in a part time support role, you will be able to learn the business, do the jobs successful agents do not have time to get done (dirty work),  help prospect and start to develop your own plan for success.  While the pay for this role may not be very much, you will hopefully develop some additional skills that may help with banking, real estate or anywhere your path may lead.  Good Luck!

I have been doing research on this myself. I currently work full time for Disney and I preparing to make a career change. I'm going to start my class sometime in February or March and I will be an agent part time until I make enough to quit which should be around 25-30k. It would be nice to hear from someone that is currently doing it to see how they manage their time and to see just how realistic this goal is.

You can't think of yourself as a part-time agent with a full time job. You have to think of yourself as a full-time agent with a full-time job. The first year I was a licensed agent I only sold a few houses while holding the full-time job. The second year I changed my mentality and and worked every weekend and every night while holding the full time job and I sold 30 houses. Eventually during my third year I quit my full time job to pursue RE solely. You will have to sacrifice a lot of your time if you want to succeed at RE with a full-time job. Having the steady income is nice during the slow times. 

Most communication these days is done via text and email so you should be able to keep up with clients during the day. You will use your lunch period to show houses or make those important phone calls. I did this for as long as I could stand and I am glad I did. Quitting your W2 job to soon can sometimes be a big mistake as it takes a while to become established. 

Good luck and keep pushing forward. 

@Matthew King , Thank you for your insight. My eventual goal is to grow a portfolio of buy and hold properties to support my retirement. I have a great day job. If I could ask you to expand on your comment, could I offer support when I'm limited to hours outside the 9 to 5 (evenings and weekends)?
@Quincy Knighten , Good luck to you, let me know how things go for you. If you read Jake's post, and go with his mindset, starting out as part time agent can lead you towards a successful career.
@Jake Thomas , Wow. While I don't see myself becoming a full time agent, your passion to become one definitely came out in your post. Thank you for your words of encouragement. Your perseverance is a quality needed to become successful in any area of REI that I choose to pursue.

@Al Casino Speaking from my experience in only Commercial Brokerage, most business is naturally conducted during business hours.  Showings, prospecting, meetings and pitches are during these hours making it very difficult to contribute after hours even in a support setting. Very difficult to have involvement but not impossible. I suspect working part time outside of 9-5 in Residential brokerage would be much more practical and beneficial for all involved. 

@Al Casino You have to look at what competitive advantages you can bring to the table. In my opinion a guy like you who works as a banker and wants to pursue real estate sales in addition to your role as a banker may actually provide more value then the guy who WAS a banker and quit to dive into real estate sales head first.

Banking and home sales have some synergies. I think you will end up selling a lot of property to people you interact with at your banking job. The core value an agent has to a brokerage is the ability to bring in outside business.

Thank you James Wise

Originally posted by @Al Casino :

What service/value could a real estate agent offer to an agency on a part time basis? In my situation I have a full time job as a banker and work with real estate from the credit side, but want to start learning about it from other perspectives. I work and live in the Cleveland Ohio area, and am interested in the opinions of the BP Members who are brokers in this region.

What value you add to them is their problem not yours. What value they add to you should be your primary concern. You might want to choose a brokerage that has good mentorship program to get you acquainted with the basics of real estate. A lot of these brokerages even give you leads to work with. In my immediate area Weichert and Long and Foster are some big box names that have good programs to get you up and running. 

To answer your question directly, if you close a deal for them that's a good enough value.

Hey @Al Casino

I work as a part time agent; however, you should work on your strengths to add value to those people that will be your clients. In your situation you have experience as a banker with the focus on real estate and credit. This can give you the advantage over other agents that have not worked in a capacity that you have. 

If your clients have questions regarding lending or anything that you have done with your full time job then you’ll be able to answer those questions without having to reach out to someone else for that information, which will build confidence in your skills and in your clients’ minds.

Hi @Al Casino , I am just north of you! I am in the same boat as you, just a few steps ahead. I work a full time job at the Cuyahoga county airport. I love the job and it is what I went to college for, but I also wanted to start getting my feet wet in RE. I took my courses at Lakeland college in Kirtland and just passed my test on 12/3. I would encourage you to do it. Taking steps forward and working on your 'off hours' can only help propel you in the direction you are looking to go. For me, my off time would have otherwise been spend performing menial tasks and/or wasted watching tv. I thought to myself 'why not'? Working hard now will pay off in the future. Good luck! Sending a colleague request your way since we are close.

@James Wise , @Peter Mckernan , Thank you for reminding me that I'm not giving my work experience enough credit in what I have to offer to an agency.
@Chinmay J. , Thank you regarding your advice in considering what the agency should offer to me.
@Jeff Brower , you're just 15 minutes North on 271! Thank you for reaching out and persuading me to do this! I will be very interested in reaching out to you to cherry pick on your experiences. Good Luck in this endeavor

Partner with a full-time agent who is willing to split all deals 50:50. I am trying this concept now - she works 9-6pm Mon thru Fri, and I take all calls after 6pm and do all house showings with buyers Saturday and Sunday when most people can look at houses. Same thing for listings, you would do all open houses on the weekend. It can be done, but most people want the whole pie which is why it's hard to find agents willing to partner like that. The biggest problem is on hard deals where you have to negotiate with the other agent during the day, call the lender, and follow up with the title company. Lots of moving parts if you have a job where you can't step aside during the day. If you think most deals will be like that, then propose 60:40 where you get the 40% because you're doing less work.

@Al Casino It's possible you could fill a niche by helping investors who are making inexpensive purchases. I think it's not really worth most full-time agents' time to work with investors who are purchasing $50k properties in Parma bc commissions are so small. But you could start there to build experience and get your feet wet (since you don't need the $$ as much as you need the experience). Then later on you could work your way up to doing higher value deals. Not really sure... just a thought.

@Eric P. , Thank you for your thoughts. Since I'm at the beginning of this journey I'm open to all ideas, and I think yours is a good one for someone in my position.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here