What You Need To Know About Doing Part-Time Real Estate In 2021
The year 2020 is finally almost over and many people are already feeling psychologically relieved to have been released from a year that has caused so much turmoil. As 2021 begins, some may be considering new career opportunities, and given the intense market movement real estate has seen this year, this is likely to be an attractive option for many.
However, in these uncertain times, diving into a part-time real estate job before committing to a job that doesn’t offer a regular paycheck can be the way to go.
“As a young single girl when I started my career [at age 22], one of the best pieces of advice I’ve received has been to keep my part-time job while entering the real estate business, “Mary Doody-Horton, associate broker at Coldwell Banker Prime Properties, told Inman. “I had no savings or a spouse to fall back on, so staying afloat when I started my real estate career wasn’t always easy.”
Here are some key tips people looking to embark on part-time careers in real estate in 2021 should consider.
Take your time to find the right broker and broker
As an agent who only works part-time, it is important to find a broker and team who are supportive and resourceful, even if you may not be out all day every day.
Not every broker may want to spend the time and energy on an agent who is likely to make less money for the company. However, as a new agent, you will need sales training and a support team to help you learn the basics. So take the time to find a broker who can help you achieve this.
Be ready to juggle
Since real estate agents work tirelessly on their clients’ schedules – not their own – a part-time worker should be prepared to deal with some scheduling issues. If you have limited hours, it can be especially difficult to schedule shows based on customer availability. It is therefore important to stay organized and as flexible as possible depending on the situation.
Find allies and find a mentor
As a realtor balancing multiple jobs, clients, and other personal responsibilities, it’s important to find allies in your brokerage business for the days when you need someone to pick up a performance or other appointment that doesn’t fit your schedule.
If you enlist the help of another agent, you will likely have to compensate them for their time. So, set these conditions in advance and make sure everyone is on the same page.
“Find a mentor to come into contact with [is] also invaluable, ”said Doody-Horton. “Almost 13 years later we are now very good friends and we are always calling for advice. My mentor helped me with deals and took me to some deals as their unofficial “assistant” to learn about the ins and outs of transactions [when I first started]. “
Finding an experienced broker or broker mentor will help you get your feet under you and build some connections with clients both within the industry and in the field.
Consider starting out in a role other than an agent
While the ultimate goal is to become a top-selling real estate agent, it can be helpful to start your part-time drive into the real estate industry in a different position that will nonetheless help you get to know the industry.
“There are many roles in the real estate chain that can become part-time or virtual jobs,” Doug Hitchcock, former marketing manager at Exide Technologies, GNB Industrial Power and now an independent marketing consultant, told Inman about the Inman Coast to Coast Facebook group.
The ability to work remotely will no doubt remain relevant for at least the first half of 2021, and Hitchcock reminded Inman that the following gigs are all valuable alternatives to gaining real estate experience: MLS photographer, broker webmaster, Open house sitter, Sign Postbagger, office assistant or receptionist, sales manager tracking.
Working in any way in the real estate industry means staying determined and persistent when business is slow or you lose a head start. While you are still juggling other assignments and just trying to familiarize yourself with everything, it is important to stay positive and stick with it.
In 2018, Jim Weix told Inman readers, “The difference between the mistakes and the successful agents is that the successful agents have not given up. You have overcome obstacles and not let challenges overcome you. “
Weix’s advice also applies to 2021 – it’s been a terrible year, but everyone is starting a fresh start on January 1st. Find a good support group, prepare for work, and keep looking forward to the new opportunities that each day brings.
Email to Lillian Dickerson