Can you achieve full-time success on a part-time schedule? The conventional wisdom of your broker, colleagues, and the real estate industry in general is a firm “no” – but that’s motivated more by cultural bias than actual experience.
In our experience, having coached thousands of top-producing agents & brokers across the country, we can say with certainty that you can definitely build a solid real estate career with a wonderful stream of income working only nights & weekends.
Now let’s be honest – juggling a full-time 9-to-5 with a real estate career on the side is no cake-walk – but on the other hand, it will provide you with more financial stability than full-time agents have. The trick is following these 12 steps below to making this juggling match work effectively:
1. Follow a plan.
Identify what your goal is. Are you working part time until you can switch to full time or is real estate always going to be supplemental? What is the income required for you?
2. Be willing to prospect.
A part-time agent that prospects is more efficient than a full-time agent who doesn’t. The part-time agent will likely net a higher percent of their income as well.
3. Track your numbers closely by using the White Board System.
Concentrate heavily on lead generation and tracking your short, medium, and long- term leads.
4. Choose your broker wisely.
Market share does matter. Remove barriers to your success. For example, “I’ve never heard of your brokerage.”
5. Get your Pre Listing Package, Buyers Presentation, and Listing Presentation done, learned, and polished as soon as possible.
Earn while you learn. The more you use these materials, the better you will become.
6. Know what makes you money in real estate.
The following activities make you money in real estate: lead generation, lead follow up, pre-qualifying, presenting, negotiating, and closing. Ignore everything else.
7. Follow your schedule.
Your schedule contains dollar-productive activity. 80% of your real estate time should go to lead generation, prequalifying, and presenting. The remaining 20% of your time goes to preparation.
8. Use a Transaction Coordinator for efficiency.
It is worth it for you not to be stuck in the weeds when you could be generation, presenting, and closing instead.
9. Know agents to refer business to when you are over scheduled and track those referrals.
Eliminate feeling like, “What if what I’m doing works really well? I’m not ready to handle this.” by referring if you have to.
10. Discuss your real estate work with your family.
This means talking to your spouse and family about what it is going to require of you and get their support.
11. Ask for help when you need it.
Part-time agents are common and are welcome in all of our coaching programs. We have pilots, firefighters, teachers, and even a real rocket scientist!
12. Don’t listen to anyone that tells you that you can’t do it!
It is not up to them, it is up to you! Always be telling yourself, “If it’s meant to be, it’s up to me!” Adopt this mentality and take massive action on a daily basis.