Start as a Part -Time Agent while working a full time job?

Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes

What is the best way for someone who is currently working a full-time, 9-6 job to begin working part time as an agent, with the hopes of building a book of business over time to transition to a full-time career as a RE agent? Is the key to focus on obtaining listings as opposed to buyers?

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Jeff CopelandBusiness Member

Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes

On the contrary - I believe working with buyers is a quicker and easier way to build your business quickly. Listings are highly competitive and tough to win as a new agent.

Whereas a buyer with cash (or a mortgage pre-approval) in hand is a paycheck waiting to be cashed for a realtor (I'm not suggesting you view your clients as a potential paycheck...quite the opposite - put their best interests first, and the commission will come).

While it's true to some extent that you have to "list to last" as an agent. You also have to start out somewhere. Working as a buyer's agent is a great place to start. You can get closings under your belt a lot quicker, and volume creates volume, as in transactions often lead to more transactions.

Work with 10 buyers on finding them a home, and those ten transaction may lead to you 1-2 new listings and several more buyers, both through referrals and just by being active and visible in your market.

Working with buyers is time consuming. But so are listing presentations. Ultimately you want and need to do both. But chasing listings, rather than working with buyers, is one reason many new agents fail to make it more than a year.

Another observation - buy and hold investors are great buyers to work with. They'll buy one property, and as soon as you find them another one that makes since, they'll buy more!

Yet another tip - Hosting open houses for other agents (i.e. the listing agent) is a great way to connect with potential buyers. And "bank-owned open houses" in highly visible and easily accessible locations tend to stimulate the most buyer foot traffic. You don't need to sell them the house you're holding open...the conversation usually goes something like:

Open House Buyer: "This house is ugly/overpriced/in an awful location".

You: "I know! I agree! (It's not my listing, I'm just doing a favor for the listing agent). Anyway...Tell me a little bit more about what you're looking for. I think I may know of a listing that might be perfect for you!" And the relationship begins...

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Peter MckernanBusiness Member
Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
9y
Hey @Jordan Decuir
I work full time and work as an agent; however, my work is not 9-6, it’s 24 hours as a firefighter. I would suggest that if you want to work on the side as an agent you put all your weekends focused on hosting open houses! This will get your feet wet and could pull you in some buyers/sellers. Listings are always nice, but to hold out for just listings when getting started is hard to do since you are not cutting your teeth (getting experience) as mush as you would by representing buyers. Also, it is always nice to know the other side of the transaction when you get into the profession since you will be working with buying agents while listing a house.
This is just my opinion and I know when you read the millionaire real estate agent they pound home the best option is to get listings, leads and leverage your past and present clients. You can be great at building that book of business if you build that knowledge, provide a great experience, and follow up with those clients.
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Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
9y
On the contrary - I believe working with buyers is a quicker and easier way to build your business quickly. Listings are highly competitive and tough to win as a new agent.
Whereas a buyer with cash (or a mortgage pre-approval) in hand is a paycheck waiting to be cashed for a realtor (I'm not suggesting you view your clients as a potential paycheck...quite the opposite - put their best interests first, and the commission will come).
While it's true to some extent that you have to "list to last" as an agent. You also have to start out somewhere. Working as a buyer's agent is a great place to start. You can get closings under your belt a lot quicker, and volume creates volume, as in transactions often lead to more transactions.
Work with 10 buyers on finding them a home, and those ten transaction may lead to you 1-2 new listings and several more buyers, both through referrals and just by being active and visible in your market.
Working with buyers is time consuming. But so are listing presentations. Ultimately you want and need to do both. But chasing listings, rather than working with buyers, is one reason many new agents fail to make it more than a year.
Another observation - buy and hold investors are great buyers to work with. They'll buy one property, and as soon as you find them another one that makes since, they'll buy more!
Yet another tip - Hosting open houses for other agents (i.e. the listing agent) is a great way to connect with potential buyers. And "bank-owned open houses" in highly visible and easily accessible locations tend to stimulate the most buyer foot traffic. You don't need to sell them the house you're holding open...the conversation usually goes something like:
Open House Buyer: "This house is ugly/overpriced/in an awful location".
You: "I know! I agree! (It's not my listing, I'm just doing a favor for the listing agent). Anyway...Tell me a little bit more about what you're looking for. I think I may know of a listing that might be perfect for you!" And the relationship begins...
Copeland Morgan LLC4.770 Reviews
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Account Closed
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
9y
Originally posted by @Jordan Decuir:

What is the best way for someone who is currently working a full-time, 9-6 job to begin working part time as an agent, with the hopes of building a book of business over time to transition to a full-time career as a RE agent? Is the key to focus on obtaining listings as opposed to buyers?
Share your journey with your co-workers and everyone you come in contact at work and the leads will follow Good luck
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Jordan Decuir
OP
Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Peter Mckernan I assume that you work two 24- hour shifts as a firefighter then have 4 or 5 days where you work on your RE business? What do you do in cases where a client absolutely needs you, or you have a closing for example, on one of your firefighting days? How do you work around that?
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Jordan Decuir
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Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Thanks for the advice Jeff Copeland ! Do you work with buy and hold investors frequently? I have thought of that as a potential for at least getting a real estate biz off the ground (as well as potential repeat biz over time). Given my 9-5 situation, do you believe, strictly from a scheduling perspective, that working with buyers or working with sellers (on listing presentations and obtaining listings) would be more more conducive to working around a 9-5 monday thru friday job?
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Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
9y
@Jordan Decuir - Yes, investors account for over 50% of my book of business. I do propeprty management as well, so that helps, and it becomes a long term relationship in many cases.
Most property buyers and sellers work 9-5 jobs as well, so the realtor's workday is usually evenings and weekends!
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Peter MckernanBusiness Member
Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
9y
@Jordan Decuir Yes, 24 hour shifts and sometimes they make we stay an extra day when I am not expecting it (those are the hardest). To get around the days I work I am just honest with the people and it would be as if you were a full time realtor and had a day full of listing appointments. It’s a sacrifice for sure since I am not home that much more, but it is very worth it in my eyes.
I tend to work around my schedule pretty well and people understand with stuff that is going on. I work on it and if it is truly something that needs to happen that day I have a few agents that I can call in a favor to. I know that I can trust those agents and I have even split some of my commission with them to let them know their sacrifice for me was not gone unnoticed/appreciated. It’s the relationship and honesty you build with you clients and other agents that can get you in the long game.
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Jordan Decuir
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Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Jeff Copeland I really like the idea of working with investors, do you mostly find MLS-listed properties for your investors or are you finding a lot of off-market deals for them?
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Jeff CopelandBusiness Member
Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
9y
@Jordan Decuir - 95% of my deals come from the MLS. There was a poll on BP recently (wish I could find it!) that asked people where their most recent deal came from, and probably 90% said "MLS".
Many people here in the forums lament about the lack of deals on the MLS, but I have not found that to be the case at all. Admittedly, 90% of MLS listings may not look* like a good deal, but in my experience, neither do 90% of wholesale deals!
*Interestingly, there is much more negotiating room with MLS-listed properties. The asking price is only that, "asking". For example, I closed last month on a property that was listed at $120k. I paid $96,200.
Conversely, most wholesale deals are "take it or leave it at this price, no inspections, cash only, close next week" - Call me old school, but I prefer the art of negotiation!
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Ralph C.
Real Estate investor professional · Suwanee, GA · Member since 2016 · 233 posts · 81 votes
9y
Originally posted by @Jeff Copeland:

@Jordan Decuir - 95% of my deals come from the MLS. There was a poll on BP recently (wish I could find it!) that asked people where their most recent deal came from, and probably 90% said "MLS".
Many people here in the forums lament about the lack of deals on the MLS, but I have not found that to be the case at all. Admittedly, 90% of MLS listings may not look* like a good deal, but in my experience, neither do 90% of wholesale deals!
*Interestingly, there is much more negotiating room with MLS-listed properties. The asking price is only that, "asking". For example, I closed last month on a property that was listed at $120k. I paid $96,200.
Conversely, most wholesale deals are "take it or leave it at this price, no inspections, cash only, close next week" - Call me old school, but I prefer the art of negotiation!
Call me old school also (as I like to negotiate as well), but whenever I get presented with a deal from a "wholesaler", I always negotiate them down and still get the deal done. So can you. Nothing says it's firm.
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Jordan Decuir
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Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Peter Mckernan Jeff Copeland Steven Picker I have heard that, generally speaking, working a listing is somewhat less time consuming compared to the time put into working with a buyer...has your experience demonstrated this as well?
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Account Closed
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
9y
Originally posted by @Jordan Decuir:

Peter Mckernan
Jeff Copeland
Steven Picker
I have heard that, generally speaking, working a listing is somewhat less time consuming compared to the time put into working with a buyer...has your experience demonstrated this as well?
Absolutely Once you have listed the property all is left is to field questions from agents and present offers to your seller
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Patricia Joseph
Realtor · Atlanta, GA · Member since 2015 · 95 posts · 31 votes
9y
@Jordan Decuir - being a part-time agent, while working full-time is definitely doable. I have a full-time federal government job and work as a part-time agent. In fact, one of my co-workers is closing on a sale at the end of June. Your coworkers are a great source for getting business because they already know and trust you; hopefully! LOL
Time management is key, though. I use my lunch hours, evening and weekend hours to complete my RE tasks. It can seem overwhelming at times, but if you have systems in place, you can do it. I use Wunderlist to create all of my to-do lists. I like that it sends me email reminders and I can access on the web and mobile.
@Jeff Copeland - great information for a new agent! What's the best way to find buy and hold investors? Initially, I didn't think I would be able to work with investors since I have a full-time job and knowing that some investors like to submit a whole lot of offers. But, I definitely would have time to send hotsheets from the MLS to investors, who are interested.
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Peter MckernanBusiness Member
Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
9y
@Jordan Decuir You still have to put in the work on getting the house prepped for open houses, but if you have a team you can have a couple agents host them each week till it is sold.
You are the person that will make all the decisions that will dictate what the property will do, as long as it’s ethical! You give all the information to the sellers that will give them the most information to make the biggest and best educated decision for them to pick a great buyer.
If you read Million Dollar Real Estate Agent it lines out what the best way to become a great and high producing agent.
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Jordan Decuir
OP
Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Patricia Joseph Do you also have clients that are not also co-workers of yours? Do you focus more on working with buyers or sellers?
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Jake Thomas
Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
9y
This may help
https://www.biggerpockets.com/blogs/8203/49286-why...
I successfully worked as a part-time agent for 3 years before I finally went full-time 12 months ago. I will tell you as soon as I went full time my business has doubled and I am glad I finally did leave my w2 job.
1 Reply
Patricia Joseph
Realtor · Atlanta, GA · Member since 2015 · 95 posts · 31 votes
9y
@Jordan Decuir right now, I'm working with buyers, who are my co-workers. Really easy to work with this niche because the trust relationship has already been established. To me, it's much harder trying to convince strangers to trust you with one of their biggest financial investments.
@Jake Thomas do you mind sharing some of your strategies that helped you as a part-time agent? I struggle with time blocking & lead generation (cold-calling).
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Account Closed
Johnson City, TN · Member since 2014 · 586 posts · 705 votes
9y
This part time agent thing is very interesting to me since i am currently steaming because i havent heard from my agent in a week and hasnt returned my texts. Being a full time mommy and skin care consultant along with part time realtor isnt cutting it. I have learned my lesson. Unless you are 24/7 and starving you wont get my business.
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Jordan Decuir
OP
Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Tim Chapman Very sorry for your situation, that must be extremely frustrating and almost infuriating I bet. I would be upset if I were you. This is all the more reason why I wanted to get some input from the community, so that I do this right if at all. Given the importance that the RE agent can represent to his/her client, I want to make sure that even though I would be part-time initially, the level of service would NEVER be part-time from the clients' perspective. Maybe you can go to your agent's broker (assuming that his person is currently sponsored by a broker) and explain the situation to him/her. If the broker wants to keep your business, then he/she should have some options available to get things back on track and keep your business.
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Jake Thomas
Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
9y
@Patricia Joseph I have split my focus into working with investors on buying rentals and being a listing agent. I will work with home buyers in general but they consume to much time.
Investors look during the day and I can manage the appointments and such for my listings which has opened up my evening somewhat. When I started I would take anything that I could get and hussle hussle hussle. Open houses every weekend, cold calling anyone who would listen and spend a lot of time on here networking with investors. I have gained about 15 good clients from this site alone. It's an untapped resource that most agents haven't taken advantage of yet.
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Joshua Allen
Residential Real Estate Broker · Belvidere, IL · Member since 2016 · 13 posts · 7 votes
9y
I work heavily with investors, the repeat business is amazing. To get started, I suggest hosting open houses, it is a great way to market yourself. Find an office that has a decent number of FULLTIME successful agents, park your license there. Market yourself that you will host open houses at no cost to the agents, but you collect/ keep all the leads and write offers on the house if you get to that point. You'll fall into leads just by opening your mouth, but don't get used to that. There will be multiple transactions that occur in some cases. Buy a house sell 2 for the same person. Neighbor calls your sign because you moved the house quickly. All good things. You'd be surprised how many people will only look at homes after 5 and on weekends. There is a niche for everyone, but not everyone finds that niche.
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Jordan Decuir
OP
Rental Property Investor · Katy, TX · Member since 2013 · 417 posts · 171 votes
9y
Jake Thomas very good piece...i recommend reading. May I ask how you identified who you were going to cold call? Did you use any pre-written scripts on your cold calls?
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Steve Bracero
Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
9y
@Joshua Allen Great advice!
@Peter Mckernan Great book recommendation. Listings are key!
@Jordan Decuir Do you have your license yet? It is possible to go part time. Just understand consistency and patience are what you need to succeed.
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Jake Thomas
Residential Real Estate Agent · Grand Rapids, MI · Member since 2013 · 803 posts · 689 votes
9y
@Jordan Decuir I have never used a script or anything like that. I have more or less winged it and adjusted to improve over time with success rates. I only make a few select calls a week and land a high percentage of them. I look for people who are already advertising they will pay a buyers agent 3% so half the battle has already been fought.
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Jay Dean
Investor · Manvel, TX · Member since 2016 · 133 posts · 54 votes
9y
If you haven't already read "Set for Life" by @Scott Trench I recommend it. I love what he has to say about a "side hustle" and your "financial runway".
Check this book out.
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