I read an interesting article in the Orlando Business Journal about Realtors taking a second job or even switching careers during this current housing downturn. On such Realtor was going to supplement his income by waiting tables at the Stonewood Grill & Tavern.  One young lady decided to take a nine-week course in Hawaii to become a certified Bikram Yoga instructor.

One of the story participants said, "I don't think I would call it changing careers - it's survival." The article mentioned that there are too many houses for sale - and too many real estate agents trying to sell them.

So after finishing the article I was wondering how many Realtors in ActiveRain land have other moonlighting activities to supplement their income?

 

 

 
This post has been included in Arizona Information Maricopa County, AZ Information

28 Comments on Moonlighting

OCT
28
2007
I guess there are no "moonlighting" agents out there, or you are all to afraid to admit it!
11:05am • #1
1 Featured Post
Gaylen as it gets closer and closer to paying board dues and no closing in sight I am seriously thinking of doing this.  I have been living off income from another source but it is running out.  I did get an order for two baby blankets and matching booties yesterday so that will be a little bit.    I am one of those people though that has a hard time quitting anything so I won't give this up at all just need the supplemental income for now ya know.
11:21am • #2
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Does doing BPOs and working with renters count as moonlighting??? LOL!  Use your license people!  Opportunity all around!
11:56am • #3
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got the bpo's too

 

12:05pm • #4
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Linda,  I definitely wasn't speaking directly to you!  I have heard so many who are trying nothing crying about lack of business.  Their minds aren't open to other avenues to use their license.  Fortunately I do have another income stream with benefits.  If I were on my own I would definitely be looking for a job right now!
12:32pm • #5
1 Featured Post

Hey Renee--I didn't take it personally I just forgot about the BPO's that I am doing.  I am in the office today hand addressing all of our Christmas Cards so those will be ready to go out.  Client stood me up so got to do something right. 

I don't have rentals here and we have a girl that gets all the lease purchase business cause it is her specialty so any other suggestions on how to use my license would be more than welcome.  I am pounding out emails to everyone I know that the market is not what the media says.

12:50pm • #6

Linda - I definitely don't think "moonlighting" is a bad thing at all. We do what it takes to keep the income coming in.

Renee - I would be interested to know what your "other" income stream is? Care to share?

6:43pm • #7
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I think that if the moonlighters spent as much time on their business as they do moonlighting, they would not need a second job.
7:38pm • #8
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Jeff I spend an incredible amount of time on my business and am still incredibly slow right now.  I do not have income coming into my household from another source so I am on a rather tight budget.  I did have some residual income left over from some sales that I did and my parents have helped me out when needed but the residual is drying up fast because I still have fees, dues, marketing, etc to pay for so either I need a ready willing and able buyer right now or I need to find something that will help me over the hurdle.

I am sure there are many out there in the same boat.  No one could foresee the market we are working in and only the seasoned agents probably truly know how to get thru it because they saw the 21% interest rates that so many of us did not see. 

I have been fortunate to have the help I have had and don't take it for granted one minute but I know that things are going to change.  We are already experiencing more calls to the office and thru our 1-800 lead capture line.  But I pose this question to you if your market dried up to the point where no one in your office including you had a sale for 5 months wouldn't you be considering other options too? 

I applaud the guy working in a restaurant think of all the leads he can get while waiting on his customers if he plays it just right with service.  I applaud the person who thinks outside the box and isn't just sitting back waiting for the phone to ring. If I had been told by a seasoned agent or any agent that I needed reserves because you never know what might happen I would have heeded that advice.  I have lived thru many things that make me very frugal and that is the only reason I am just now running low on funds.

In working their business do you recommend they go without proper shelter, proper food, proper hygeine to get that almighty dollar from a sale.  Work your business yes but do not put yourself into a financial bind because if you do your clients will feel it and if you can't manage your money then how are you going to manage the sale or purchase of their home.  Work that second job if you have to so that you can pay for postage, pay your fees, pay your dues  but take care of yourself first so that you can take care of your clients second.

And Gaylen, I apologize I did not mean to hijack your post for my rant.

7:56pm • #9
154,290 Points 2 Featured Posts Outside Blog

Sorry to offend Linda, not my intention.  What I see from your post is that nothing has sold in your market in 5 months and your office has not sold anything for 5 months.  Just to understand, is that what you are saying?  How many doors have you knocked in the last month?  How many phone calls did you make this month?  How many listings do you need to reach your income goals?  How many open houses have you held this month? 

No I don't advocate going without proper shelter, food or hygeine, but I do respectfully ask Why are you in real estate and why don't you find a new line of work.  The reason that I say that is when the market does pick back up, those that have worked to get a larger market share in a slow market will have an even larger market share in the good market.

Linda, I did not mean to sound like a jerk, I just see so many realtors working thier moonlight jobs harder than thier professional jobs.

8:16pm • #10
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Wow you didn't mean to sound like a jerk well you did a bang up job with your response.  Me personally I have had no closings for the past 5 months.  Have I been sitting on my butt those 5 months no I have not.  I work as a buyers agent in my office and if you had read any of the other posts that I have written would know what I deal with on a daily basis. 

Yes I have made calls make them every day as a matter of fact, I email, I hold open houses, matter of fact I am the only one in the office that holds these open houses.  Admittedly being in a new office for the last 5 months I have sat back and tried to let the man who oh so needed a buyers agent figure out what to do with me but I have not sat back and waited.  I created a data base where there was none before, I have created a better albeit not perfect and not finished website with the somewhat unhelpful hands of the web designer, I have had leads but not of a substantial nature where they could actually close.  I have changed the marketing so that more calls were coming into the office.  I do my BPO's in a very timely fashion, I go to closings when my partner can't, I promote getting out there and being seen as in the Trunk or Treat that I alone signed up for at my office. I spend my own money on advertising, food for opens, balloons, signs, etc. 

Why am I in real estate because I am good at what I do and I love it there are just times when you need help getting over that hump, paying for those fees, and I think what you said can make some feel less of a person because they realized they needed to make that happen.    As to knocking doors I don't you could get shot for just riding up unannounced at some of the homes in my area and I would like to live to see another day.

Do I take offense to your comment no just pointing out that there are some out there that might have to do what it takes to stay afloat, to get those 100 letters out next week, to buy the balloons for the open, to put gas in their car for the showing on the weekend.  Working this job part time is hard and those that have to do it that way are the ones that will either survive or realize that it just can't be done and move on to something else, it is for them to decide.

8:44pm • #11
154,290 Points 2 Featured Posts Outside Blog

Linda, I did read a few of your posts. Actually I just realized that I responded to your post about your broker taking the leads.  With that beingsaid , maybe talking to another agency or broker who will more fairly distribute leads would be something to think about.  ALL of the buyer leads that come in on my team go directly to my buyer specialists.  No cherry picking.  I can concentrate on listings to generate the buyers and they can concentrate on closing the buyers.

How many homes have sold in your market this year?  How many are on the market and how many are pending?  Why are you not getting your piece of the pie?  I know they are tough questions to ask ourselves.  Since you already think I am a jerk, I will be devil's advocate.  How many people do you meet on a daily basis?  How much do you grow your database weekly? When you do market, what is your message?   Do you have a call to action in your marketing?  How much time do you actually spend calling each day? 

At what point does a business person say, maybe this isn't working or isn't for me, I need to move on. 

8:58pm • #12
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I have to apologize Jeff you aren't a jerk actually I like most of what you say most of the time, your comment just struck a nerve after what happened last week at my office.  I took some time off this weekend to think about it and do some reading (real estate reading mind you) and I am a bit fired up.  I am basically going into the office with purpose tomorrow to try and resolve this issue.  If it can't be resolved I will be looking for another firm and Panama City looks like an excellent place to be, lol. 

Again, Gaylen I am sorry for the hijack, nerves are raw here to say the least.

9:06pm • #13
OCT
29
2007

We actually have an ebay store. www.prairiechicboutique.net Gives us something fun to do that isn't real estate. I get to shop but it is to go into the store and we go to sales so it is something out whole family is into to!

Carla Cullum

Keller Williams Dallas Ft Worth Denton

12:02am • #14
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I am doing BPO's and rentals also.  In the meantime, I have dumped most of my listing inventory because it is burning up valued resources (time and $$$.)  Luckily my brokers are some of the largest REO brokers in town and have allowed me to pick up and market some of their listings.  I have been attracting investors and buyers.  I just had an all cash close a week and a half ago.  I worked with two more buyers out there.  If we want to work with buyers we have to have the goodies that they are attracted to.  Which are listings and right now REO listings.  Even though new construction prices are better.

My BPO and rental stream are equivalent to one condo sale a month so all buyer deals that close are bonuses and icing on the cake. 

My other income stream = a husband that is a salaried casino executive. 

9:06am • #15
159,685 Points Localism Sponsor Outside Blog

Gaylen,

Your 10/28 call not to be shy really came through.

I too am very slow this year.  I have had more than my share of unrealistic Seller's and Buyer's still waiting for the bottom of the "V".

I spend my days learning form Active Rain member's (I have received a lot of outstanding information), doing my mailings for the fourth quarter and my Holiday cards as well.

I am the President of the local Chamber of Commerce and on the boards of several local organizations.  This is my daily marketing program.

Thankfully I had a banner year last year....the only way this year will end in the black.  A P/T job is still not out of the question for me.    2008 already is looking up as I has 3 Buyer's ready right after the holidays.

9:18am • #16

Linda- No need to apologize about your rant. I appreciate your comments and find that in the Arizona market there are 57,000+ homes for sale and over 50,000 agents and counting. Now granted not all are "full" time but sometimes the market conditions make sales hard to come by. I think you are right on the money with your posts. Sometimes it is so easy for someone to criticize your efforts and have flip answers when they don't have the information (as in Jeff's case) needed to make an intelligent and informed response.

Carla - The ebay store sounds great.

Renee - Thanks for sharing your activities and income stream. Thankfully my wife is a clinical coordinator for MS Research and income still flows.

Dan - Sometimes the market is what it is and "moonlighting" isn't a bad idea and according to the article some of the brokers welcomed their agents to do that to "tide" them over.

12:03pm • #17
1 Featured Post
Thanks Gaylen--actually Jeff and I have talked behind the scenes and all is good.  I also had a long talk with my partner this morning about the situation here at the office and I can see things changing for the good.  Maybe the second job won't be necessary but then again it might I will continue to make my baby blankets and booties and sell them.  Maybe I should set up a ebay account for them, hmmmmm......
12:48pm • #18
154,290 Points 2 Featured Posts Outside Blog

Gaylen, I apologize for not getting enough information.  I did clarify be stating that I see realtors who do work much harder at their moonlight jobs than thier day jobs.  They are usually the ones who have a good golf game and catch alot of fish that end up with the moonlighting job.  I am not speaking about everyone, just the realtors that I see in my market.

To clarify even more, I really wonder how many of the moonlighters actually go out and knock doors and meet new people everyday and feed their database everyday.  I am all for supplemental income, don't get me wrong but how long does it make sense to not produce with the expense that is involved with staying licensed.  It is my opinion that the agents who are dropping back or out of the business will have an even harder time breaking back in when the market picks up.  The agents who are gaining market share in a small market will get an even bigger share when the market picks up.  Again, these are just my opinions and I apologize if I offend.  I have a coach who holds me to very high accountability and we have conversations like this often.

Linda, if you get up to Blairsville, check out www.copperheadlodge.com . That is where my cabin is. Glad to hear things are going to work out.

 

This question is to everyone..... How many homes have sold in your market and how did those agents get those sales. I study this in my market and have learned a great deal from it.  The one thing that I have learned that is most important is LISTINGS,LISTINGS, LISTINGS!!!! Listings will generate those much needed buyers.

Anyway, sorry if I offended, sometimes the offending remarks makeus take a greater look deep inside of us.

Visit my website at www.panamacityhomesource.com

2:31pm • #19
4 Featured Posts
They said in 2005 there was about 500,000 loan officers nationwide, today its 250,000.  I am proud to say I am still around writing loans.  I have not had to get a 2nd job yet, but our lifestyle has changed. 
11:47pm • #20
OCT
30
2007
Gary - Thanks for the update. I'm sure a lot of agents will not be back but many will as the market picks up.
9:26am • #21
243,189 Points 11 Featured Posts Outside Blog
I'm with Renee, I'm trying to stick to my profession but it's getting harder and harder.
9:41am • #22

Dena- It is getting tougher and tougher I commend you for your persistence.

11:50am • #23
DEC
20
2007
Just caught this site by googling "moonlighting jobs for realtors"! I was surprised.  In 20 years this is the worst and I enjoyed some of your suggestions.  Does anyone know anything about getting to do signings at borrowers homes for mortgage companies? I think we would be naturals.
Pat Sarcoz
9:16pm • #24
JAN
20
2008
I am a Realtor and I'm thinking of getting into insurance sales...medical,life, etc. to suppliment my income.  Anyone else doing this?
8:24am • #25
MAR
10
2008
Some agents are also making cash doing BPOs. Its not uncommon for an agent to make from 1k-5k a month. Depends how hard they work. 
9:37pm • #26
MAR
11
2008
154,290 Points 2 Featured Posts Outside Blog

If there are agents doing BPO's and making 5 K per month, they are never sleeping.  That would be at least 3per day every day of the monthif they all paid 60 dollars per BPO. 

If they would spend as much time as a realtor they could make MUCH more than 5K per month.  I have no problem with moonlighting but if most realtors would work as hard a realtors as they do for their moonlight jobs, there would be no need for moonlight jobs.

10:14am • #27
I also applaud those who have gotten second jobs to help them in this market.  I have not gotten one as I type this, but I do feel it will not be too long before I have to do something.  Who knows I might even pick up business from the second job.  I will not quit!!!!
11:31am • #28

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Gaylen Thornton

Surprise, AZ

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Desert Heritage Real Estate

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