I recently got my real estate license, and I was amped to get started on moving towards becoming a part-time agent and transitioning into becoming a full-time real estate agent over the next several months.
Problem is... my other business (B2B social media marketing) is taking off and now on track to generate well over six figures annually. It's mentally taxing work, but I'm pretty darn good at it. Referrals are rolling in. All of the marketing groundwork I laid over the past few years is paying off with amazing clients. I do enjoy the marketing work, but I don't see it as my long-term play.
As of now, all of my work hours are being claimed by the marketing business, and I am struggling to find even one hour daily to devote towards real estate. On a side note: I'm a big fan of time blocking, productivity systems, and practice The ONE Thing methodology.
My hubby is working towards getting his real estate license by end of year, and our plan was to work together as a husband-wife team in the short-term and long-term.
Most of the advice I've received from my broker and other seasoned agents is that I need to consider going full-time, or I'm at risk of washing out or not reaching my income goals. I'm unsure how to proceed.
- Do I continue growing my marketing business, even if I don't have the time to dedicate to real estate?
- Do I figure out how to outsource more of my marketing business, so I can free up brain space/time for real estate?
- Do I turn down marketing projects now, in order to focus on real estate?
- Anything else I should be asking myself or considering?
I'm keen to hear from any other agents who've gone through a similar transition themselves or helped someone else manage that transition. Thanks in advance!
Hey @Mindi Rosser ,
I want to start off by saying congratulations on acquiring your real estate license and wanting to transition into becoming a real estate agent. Very inspiring. I am by no means an expert of any sort, just a young guy studying to get his real estate license and become an agent as well. I don't know if my advice would benefit you in any way with me not being experienced, as I am also transitioning into real estate as well. But I will share with you my "2 cents" when it comes to what I think you should do/consider.
1. From what I've been reading and talking to people about, becoming a real estate agent (a successful one at that) is no part-time thing. As you know, becoming a real estate agent is basically starting another business. The time you spend on your marketing business is time you could've spent learning or networking in real estate. I don't know your financial situation, but if your social media marketing business is bound to make over six figures in a year, I would consider saving that money, ending the business and double down on becoming an agent as that money can be very helpful in marketing, license fees, etc.
2. If your husband is committed into getting his license, you guys could still be a "tag-team" couple you guys have envisioned for yourself. He'll have MLS access and with your guidance as well I'm pretty sure he'll succeed. Another 6mo-1 year in the marketing business probably won't be a bad thing. He'll learn the RE business and you'll still have good money coming through. You guys could bounce ideas off each other, and you could slowly but surely make that transition into RE for yourself too.
3. If you still want both, outsourcing your social media marketing business is a MUST. I wish I lived in the Griffith, Indiana area to talk more about how you started your business, and if I could be of any help. Seems very interesting. Nevertheless, we all know the bigger a business becomes you're going to have to start delegating.
Like I said I'm not as credible as you may want me to be, but these are my viewpoints from someone who is on the outside looking in. I may be young but what I do know is that it is imperative that you be patient and diligent with yourself. Sounds like you already know what you need to do, both businesses won't work at its optimal level at the same time, and I'm a big believer in committing to something, even though I'm sort of struggling with that myself lol
@Account Closed Love it - lots to ponder in your suggestions above. Your outside perspective is very helpful, and your reiterating that the key to success is focus is just what I needed to hear. Now, to put this into action!!