Real estate is an appealing industry, as there are about 2 million realtors in America. It’s a career that offers a flexible schedule, with serious earning potential. It’s a chance to be your own boss and gain satisfaction in helping families find their dream home.
While most realtors work full time, some enjoy a more part-time schedule. As it allows greater freedom in your work-life balance.
So, should becoming a real estate agent be your next career move? Here’s what to expect from a work-at-home position in real estate.
Expect to Jump into Many Different Roles
Realtors do a great deal more than only show and sell homes. You’ll get expected to help with negotiations and home staging. As staging a property can sell it quicker and at an average of 6.3% more than asking price.
Learning how to become a real estate agent also involves a knack for market trends. You’ll need to educate yourself on a comparative marketing analysis in the area you plan to work in. This way you can be sure you know the value of a home and what the right asking price and selling price should be.
You should also always be up to date on the latest trends in technology. This includes digital marketing and social media techniques for realtors. Creative marketing ideas will help you get an edge up on the competition.
Realtors should also be experts in the area they work in. This means offering up well-researched recommendations for schooling and local community hangouts.
It’s a realtors job to help new homeowners settle into their lives in a new area. You also may need to educate first-time buyers on the full home buying process.
Get Ready to Give up Your Weekends
Realtors are often working after regular hours, like nights and weekends. As they need to meet the scheduling needs of potential buyers to look at properties.
Weekend real estate jobs also happen due to Sunday open houses. You’ll also have many different appointments for home inspections and closings. So be sure to use a well-organized schedule to keep track of everything.
Fewer people sell homes during winter, so you may get a bit of a break during this time. As property viewings are 21% less and homes remain on the market longer. But expect summer to be busy as this is when people tend to put their properties on the market.
Learn to Become a People Person
Some people work from home because they enjoy solidarity. Yet, a realtor deals with buyers, brokers, and other agents on a daily basis. They also work with insurance companies, inspectors, and lawyers.
You can handle paperwork and respond to emails at home. But much of your job will be out of office. So, prepare to be working with many different personality types, some of which you don’t mesh so well.
Realtors need to hone their people skills. Winning new clients is important to the success of your career. Also, make sure your clients stay satisfied throughout the entire experience.
Happy clients will continue to recommend you to their friends and family. As well as give you great online reviews which are crucial in the real estate industry.
Make Sure You’re Comfortable with a Commission-Based Career
Most realtor jobs are commission-based. So, your livelihood will depend on the price and amount of the homes you sell.
Part-time real estate jobs average about 20 hours per week or less. So you’ll want to determine how many homes you’ll need to sell per year to make enough money.
You also want to take into account licensing fees, cost of commuting, and health insurance. As health insurance coverage is often the responsibility of the realtor.
It can be helpful to hold a second-job until you get the hang of things. This way you have another source of income to rely on. You can also use slower months to seek new training opportunities.
To sell more homes, be sure to take time to generate new leads. It also helps to find a niche to bring about new targeted leads. This can be in the luxury market or place focus on millennial buyers.
Know That Your Paycheck Is Subject to Market Changes
Where you live will be a big factor in how much you make. Areas with competitive housing markets are subject to low inventory. So, it can be tough to rely on a consistent paycheck.
You’ll also be competing against full-time agents. Yet there are a few techniques that can help boost your home sales.
Consider a direct mailer campaign to reach new leads. It also helps to seek networking opportunities in the local community. Or you can get involved in charities, fundraisers, and events.
Working from home as a real estate agent means you’ll need to network with other professionals and industry experts. Read more here about other ways to help sell homes fast in a tough market.
Adopt a Round-The-Clock Work Ethic
As a realtor, you can limit the number of work hours you put in, and homes you list. Yet, it’s not smart to limit communication with clients. Availability is key for answering client questions and showing properties.
A good realtor is always on email and stays consistent in their communication. They also respond to after-hours phone calls right away. This is to ensure they are always available for clients and are not missing out on leads.
There is also a lot of paperwork involved in a realtor’s workload. It may help to get an administrative assistant to keep your hours more part-time. This also gives you a better sense of balance in your personal and professional life.
Other Ways to Succeed as a Real Estate Agent
Becoming a real estate agent is a great way to expand your professional skills and earn a living. Some agents start out as part-time. Then they move into full-time later on, when they are able to dedicate more hours.
You may also want to consider working in a real-estate team. This allows you to help each other in covering appointments. You also share your commissions and workloads.
If you find yourself in great success, you may even want to think about starting your own independent brokerage. Check out this informative guide on how to start your own real estate company.