Forget what others say, Jonathan Pressman writes. You can downshift your real estate career and determine whether you are working part-time or dual-carrier agent.
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With only 29% of all agents doing real estate transactions in 2024, many licensees now consider themselves part-timers. Promises to work full-time as an agent is a serious effort that may not be optimal for everyone. Even if you’ve been working as a full-time agent for years, things may change and your time may be the same.
Luckily, you still thrive as a part-timer and enjoy more flexibility while still maintaining a licence and part of your business. Below are six situations that may indicate that it’s time to move to a part-time agent:
You are approaching retirement
You are working hard to build your business and you probably can’t do anything without showing dozens of homes to indecisive buyers that are not previously approved, but you still have a part-time ability You might want to continue working as an agent. Therefore, if you are approaching retirement but are not ready to hang your hat yet, working as a part-time agent can provide you with the best of both worlds.
You got another job
If a great opportunity presents itself, you may decide that it is worth putting your real estate career on a back burner. Many real estate agents work full-time and enjoy working part-time as agents. If your business is picked up again or your other work doesn’t work, you can always return to real estate full time.
A fee-only model won’t work for you
Most people appreciate the stability you get from beneficial employment. After all, that’s why 14% of people opt to be full-time self-employed. If the committee-only model isn’t working for you, it may make sense to work as a part-time agent. Your full-time job can provide the stability and salary you are looking for, and committees acquired from real estate can supplement your income.
Your priorities will change and you will have less time
Returning to school, starting a family, or traveling the world are several reasons why you may find yourself having less real estate time. Most full-time agents call 24/7, and shows and open houses make up much of your nights and weekends. If you decide it’s time to devote more time to other pursuits, reducing your real estate career may help you find a healthy work-life balance.
You haven’t achieved your goal
According to NAR, about 32% of real estate agents make more than $100,000 a year. For agents with less than six years of experience, that number is rejected by only a quarter. Earning a living as a real estate agent is not easy, so if your committee alone cannot support your lifestyle, it may be your sign that you need to switch focus from full-time real estate.
But don’t worry – even if you’re not making enough as a full-time agent, you can still retain your license and earn some extra income through committees and referrals.
You just don’t enjoy it anymore
If life is short and you just don’t enjoy working as an agent, if you still like income, regaining your time might be the perfect fix. There may be times when you don’t need a big reason to dial part-time. Just follow your instincts and find out what you want to do more instead.
Jonathan Pressman is a real estate agent who writes on a wide range of financial topics. Connect with him on LinkedIn and Instagram.
