There are arguments on both sides as to whether it's possible to be a successful part-time real estate agent or not. My goal is not to spark a debate, but to point out additional opportunities that you can successfully do part-time with a real estate license.
Most of the "part-time agent" debate is due to not having adequate time to put into working with buyers and sellers. Keep in mind that there are plenty of things that you can do with a real estate license besides working with buyers and sellers.
The great news is these jobs can be done whether you are a full-time or part-time agent.
- Broker Price Opinions (BPOs) - no, you don't need to be a "broker", but you do need an active real estate license. BPOs are essentially mini-appraisals. Asset management companies will hire you to go out to a home to evaluate the home's value. Many agents earn a full-time income just doing BPOs. Here is additional information on how to become a BPO agent.
- Apartment Locator - apartment complexes will pay real estate agents to bring renters. This is another one that you can do part-time, but again many agents that earn a full-time income just doing rentals. Here is the class I attended to learn how to be an apartment locator. This is a great way to eventually transition to full-time because you will have a database of renters that will want to buy at some point.
- Referral Agent - I set up my website a few years ago and get leads from time to time from my site. I refer out those leads to agents and get a 25% referral fee.
- Showing Agent - Showing agents will meet buyers at a home to give them a tour, that's it! You don't have to pre-screen the buyer or take them all over the city looking at 100s of homes or cold calls or attend the closing.
As a part-time agent, you can do any of the jobs listed above while you are building your network of leads so that you can eventually go full-time. As a full-time real estate agent, you can do the jobs listed above during slow periods to float your budget while you are waiting on a commission check.
Please share below any other jobs that can be done on a part-time basis with a real estate license.