I just got off the phone with a Real Estate Agent that I have known for a while and she was telling me that it is difficult getting into the business when you cannot dedicate all of your day to RE. I explained to her that I have a full time job that I usually work at until about 2 or 3 and then after that I am available. If I could save money for the first year I would, but with 3 kids and a mortgage myself, I cant. I have to have that income until I start making money.

My question to you guys is, have you or do you know anyone that has ever worked part time, and if so, were you able to make money and a career eventually out of it?

If so, please explain. I really want to do this but my hopes are slowly dwindling because I just keep hearing negative things. :(

Thanks

There is a previous thread on this in which I posted that one of the big problems with part time is that the expenses are full time. Even if you work half time the board dues, MLS access, etc. are not prorated to a reduced schedule. Depending on your broker you might be able to cut a deal on E&O and some of the other expenses. The margin, particularly in your early years, is so little anyway that you might get discouraged and quit before getting to a full time status.

Thanks so much for your post 1396. Let me first say...congratulations on your decision to get into real estate! It is a great industry that if you have the desire and willpower, you will most assuredly succeed.

With that being said, it is much easier to succeed in this business for those who are full time. This does not mean however that you can not do it. Just realize you are building a business. The more time you have to devote to it, the more likely that you are going to "get it off the ground" quicker. Mr Foreclosure brings up some great points. There are alot of costs involved yearly, as well as continuing education.

Moral of the story: find a top company that is going to provide you leads to work. Don't just look for the "lowest fee" shop out there. Find a company that has a great reputation in your local marketplace, can offer you some leads, and can also offer you a mentoring or "shadowing program."

On our team in Minnesota, we do have a number of part time agents. All of our top sellers are full time of course, but many of the part time agents are trying to transition. With the market the way it is (so many listings on MLS), agents of all experience levels are forced back to the basics....take a client out, show them some homes, and write up an offer! This is how we get paid as a real estate agent.

I hope this information helps out. If you really feel called to do this, keep the faith and work the business hard!

There are no ironclad answers. It depends on your motivation and drive, your connections and your intelligence. If you are dedicated and driven, you will probably make it whether you start full time or part time, if you aren't you probably won't, whether you start full time or part time. Most of the buyers and sellers want to deal with you when they aren't at work themselves so there is a lot of Real Estate that happens evenings and weekends. The question is can you work double time for a couple of years? If so go for it. (Hint: the world is full of nay sayers, pay them no mind)

See, the thing is, is that I feel that I would still be putting the same amount of time in as a full time agent, just not on an AM schedule really, more like a mid afternoon to early evening is what I thouhgt I would be working. And working that long (2 jobs basically) will not burn me out, thats what I thrive for.

How many people really want to view houses at 8 or 9AM during the week anyways? Dont they usually want to do that sort of thing either in the evening or on the weekends? Thats the only thing that I could think of that could be holding me back from working the hours I previously stated. What do you guys think?

I have owned 3 different businesses and am in the process of selling the 3rd to do real estate. I will be starting about 1/2 to 3/4 time until early next year when i will go full time.

I consider RE like my other businesses, I am self-employed and if its to be its up to me. Here is what I have found and am convinced is true. in ANY business there will be a small number of people that will succeed and be very successful, there will be a larger middle group that will survive and there will be the 60% that is the largest group that will never succeed in their own business.

I think if you are in any one of those groups there is an overwhelming chance that when you enter a new business (RE or any other business) you are going to end up in the same one. So if you are someone who tends to excel i think you can start part time and you will eventually excel because you are probably the kind who finds ways to get things done and doesnt stop until they win. If you are in the middle group in life I think part time will be harder, but if you keep chugging along and grinding you will probably end up somewhere in the middle again. And if you are in the bottom group then self-employment is not for you and if you do RE part time you have no chance. You probably dont have a chance even if you do it full time.

There are some people who just dont have what it takes to make it as an independent contractor, and on top of that they dont have the willingness and the drive to change. Im not saying anyone cant do it, i think anyone can, but they just wont do what it takes to win.

Just my humble opinion based having successfully been self employed in a few ventures and watching others totally flame out.

I really appreciate all of your responses :) I just have to remember that I need to work really hard and I should let anyone bring me down. I just want this too much for me to lose faith in my own success. So no matter what I hear, I am just going to do this regardless and give it my 110% as I do with everything else I love and enjoy. Thanks again :)

When I first started RE over 3 years ago, I was a stay at home mom with 1 in school and 1 in preschool 3 days a week. After the first 8 months even though I sold 3 homes we were very tight for money due to all my fees. I took on a partime job for a local company. I worked there 2 years until I paid off all my debt that would allow me to be more "debt free" and things wouldn't be so tight we I wasn't selling.
As soon as I took that job my business picked up. After 2 years I had to quit. I now do RE fulltime. But I have always considered myself to be a fulltime RE agent. Whether you work it in the morning or all day long you are working it. Don't ever call yourself a partime agent. Alot of people never even knew that I had another job. I would tell people that I had appointments that morning but could show them that afternoon. Its none of their business if my appointments were my other job.

It is hard doing both. I got to the point where I was gonna have to do 1 or the other. The hardest thing was when the phone would ring and I was at my other job on their phone and couldn't answer. I did lose some business due to that. In my area you have to answer your phone or they will call someone else due to small town and so many agents.

But you can do it. I am living proof... and I'm so glad I did it. Just keep working it as though you are doing it all day long. Good Luck

Thanks for the inspiration :) Luckely, my current job allows me to have the flexability to take calls whenever, and leave if I need to. As far as telling clients I am part-time, I agree with you... I wouldn't ever tell them I am Part time (wouldn't consider myself parttime any ways) but my biggest issue is finding a broker that doesn't turn up their nose at the fact that I may have a second (and primary) income in the beginning.

With very few exceptions agents work as independent contractors under the sponsorship of a broker. All of the model independent contractor agreements I have seen include a provision recognizing that the agent may also have other employment.

Lets flip the question around:

Would you go to a part time doctor to do your surgery? He could fit you in on the evenings or weekends in between driving a school bus during the work week.

So, why would a consumer want to trust their most valuable asset to a person that is NOT committed to the industry in the first place?

Nothing fires me up more than when I'm scheduling my appointments than a part time agent that says: I can't talk to you right now, I'm at my "real job".

I've never seen what I would call a "successful" part timer.

Commit. Or you are likely to fail IMO.

[quote=Malok]Nothing fires me up more than when I'm scheduling my appointments than a part time agent that says: I can't talk to you right now, I'm at my "real job".[/quote]

I never stated that I couldn't take or make calls during the day. I never stated that I could not blog during the day. Not only that, but after reading previous threads I think it is safe to say that many people here will agree with me when I say that telling the Seller/Buyer that I am part time isn't something they honestly need to know.

Tell me this, how many people do you take out between 8AM and 2PM during the week? Are these your peek business hours when you are showing houses, or is ti mainly during the week? It seems to me that most buyers and sellers have "day jobs" as well, and would rather be taken out either in the evening or the weekend, which would be the best time for myself as well.

I can always conduct whatever business I need to during the day.

I am in a good position where I work; I have the flexibility to leave if needed, make phone calls if needed, and update any blogs, send any emails, etc. The term "Part Time" in my original post was used because it was the best way to describe my situation, and as I said before I am not intending to work "part time" hours.

Hello. Although sellers/buyers may prefer evenings/weekends (although that is not always true by any stretch of the imagination--many times they call out of the blue and want to see the house right then and there), the problem is: when do you get the sellers/buyers? When do you find your clients? A large part of a new agents' "job" isn't showing and selling houses (I'd say that was a small percentage of my "work" during my first year). . . their main job is *finding* the buyers/sellers, and, on top of that hurculean effort, actually showing properties, completing contracts, and getting contracts to closing (also time consuming: when do you think home inspectors and appraisers and title companies do their jobs? Generally between 9-5 in my experience . . . and inspections can take a couple of hours . . .yes you can leave and return, but many agents prefer to stay, and if you are just getting started you should stay for the inspections). You also have to learn how to manipulate all of the software/tech stuff that allows you to do everything, learn how to use the "scripts" or overcome "objections" . . . basically what to say when you talk to people (I'm not into stiff scripts but you need to know the basic talking points), learning how a deal progresses, dealing with many snags along the way, etc.

I think you will also need some time in an office with a sales manager ready to answer questions, but certainly that can be achieved between 2 and 5 p.m.

And you could try to schedule all of your inspections/appraisals/title for late in the day, but it would be challenging.

That being said, it really depends on the person. My husband is a workaholic, perfectionist, and just amazing in accomplishing unbelievable numbers of jobs/tasks each and every day. You could give him two jobs and he would accomplish both of them with few if any hitches. On the other hand, although I'm great with my clients, I need my downtime . . . so I could never, ever have another job and manage to sell real esate . . . and I definitely could not have done so when I first started. If you aren't around, you just don't "fall into" the deals . . . you aren't thinking of how to get deals . . . and you aren't taking action toward getting deals.

But I do believe that the right person could get it done. They might not make as much money as if they were working full-time, but they could get a small real estate sales business off the ground.

Also be prepared for other agents being annoyed if you can't get houses shown and contracts completed in a timely manner .. . and be ready for a real problem if you want listing agents to show the house for you. Most will not.

But *do what you have to do*. It *can* be done. If you can't do it any other way, then do whatever you have to do. A helpful spouse would come in handy. . .

Good luck.

How is a new agent expected to pay fees, MLS, etc and drive a nice car without working a job? And,with this slow economy many seaoned agents have taken or are looking for a part time JOB. Give people a break not elitist BS!!

Its not elitist BS, its the truth. Life is not going to give people a break so why should anyone here?

Should we tell people "Sure jump right in part-time, it'll be hunky dory" when in reality it wont? Do people come here wanting honest, sage advice or some feel good nonsense?