Many people are looking for ways to earn extra money. Some pick up part-time jobs. Others try freelancing or online sales. But what about real estate? Can real estate be a side job?
The short answer is yes. Real estate can be a side job. Many people earn money this way. Some even turn it into a full-time career later. But it takes time, planning, and effort.
Let’s look at what it takes to make real estate a good side hustle.
What Are Some Real Estate Side Jobs?
A real estate side job means working in real estate while still keeping another main job. You may work full-time in another field. But on evenings or weekends, you help clients buy or sell homes. Some people also focus on rental properties or investing. The goal is to earn extra money without quitting your main job.
This kind of work can bring in commissions. It can also build long-term wealth. But it isn’t always easy. You need to know what’s involved.
Getting Your Real Estate License
To start a real estate side job, you need a license. Each state has different rules. Most states require a course and a licensing exam. The course can take weeks or months to finish. It may cost several hundred dollars.
After the course, you must pass the exam. Once you pass, you can apply for a license. Then you must join a brokerage. A broker oversees your work and helps you get started.
If you already work full-time, you’ll need to study in your spare time. Some online classes let you work at your own pace. Many people finish their courses on evenings and weekends.
Balancing Two Jobs
A real estate side job sounds flexible. But you still need to be available for clients. Most buyers want to tour homes in the evening or on weekends. This can work well if you have a 9-to-5 job. But if your job has odd hours, real estate may be harder to manage.
You also need time for phone calls, paperwork, and marketing. Helping someone buy or sell a home is a big task. You may spend many hours on just one deal.
Time management is key. Use a calendar. Set clear working hours for both jobs. Communicate with your clients. Let them know when you’re available.
Is There Money in It?
The money you make from a real estate side job depends on your effort. It also depends on your market. In high-cost areas, commissions are larger. In small towns, they may be smaller.
Most agents earn money through commissions. If you help someone buy a $400,000 house, and your commission is 2.5%, you make $10,000. But you might only close one or two deals a year as a part-timer.
Keep in mind, you’ll have expenses. You may need to pay for membership fees, marketing, signs, business cards, and more. To make a profit off your real estate side job, you must sell enough homes to cover these costs and more.
Skills You’ll Need
A real estate side job is more than just showing houses. You must be good with people and posses strong communication skills. You should also know your local market.
Learning never stops in real estate. You must stay up to date with laws, trends, and prices. Some brokers offer training. You can also take extra courses or attend local events.
Organization matters, too. You will need to track deadlines and keep records. You must also learn how to market yourself and your listings.
What Are the Pros?
There are several benefits to starting a real estate side job.
You can earn extra income, set your own hours, and gain new skills. Over time, you may decide to switch to real estate full-time.
If you invest in properties yourself, you’ll learn the business from both sides. You may also build a network of useful contacts. These could include lenders, inspectors, contractors, and lawyers.
What Are the Cons?
A real estate side job takes commitment. You must be ready to work nights and weekends, meaning you may miss out on free time.
You also need to handle stress. Deals can fall through. Clients can change their minds. The market may slow down. These challenges are part of the business.
If you’re not able to respond quickly, you might lose clients. Many buyers expect fast answers and quick action. That can be hard to deliver if you’re working another job.
Tips for Success
If you want to succeed with a real estate side job, start small. Work with friends or family first. Use these early deals to learn and grow.
Pick a broker who supports part-time agents. Some offices expect full-time commitment. Others welcome side job agents.
Be honest with your clients. Let them know your schedule. Make sure you meet their needs.
Use tools to save time. Many apps can help you stay organized. Good software can make you more efficient.
When to Go Full-Time
Some people start with a real estate side job and move into the field full-time. This can happen when your side job brings in steady income. Or maybe you enjoy the work and want more flexibility.
Before you quit your main job, make a plan. Track your income for at least a year. Build savings. Know the risks and rewards.
Real estate can be a great career, but it takes patience and persistence.
Should You Get Into Real Estate?
Real estate can be a fruitful side hustle. Many people do it and succeed. It offers flexibility and income potential. But it’s not easy money. You need to get licensed, stay committed, and manage your time well.
If you love helping people and don’t mind working hard, a real estate side job could be a great fit. Start small, learn as you go, and see where the path takes you.
Do you have any advice for anyone interested in a real estate side job? Please share your tips in the comments down below!