What a part-time real estate agent makes is undoubtedly on your mind if you're considering real estate as a side business. You will undoubtedly base your decision to begin a real estate career in large part on your anticipated earnings.
Not just the number of hours you put in, but also other variables, can affect how much money you make as a part-time real estate salesperson. However, you may utilize some study to plan and get a broad sense of what you might earn if you want to work in real estate part-time.
income From A Part-Time Real Estate Agent
Perhaps not surprisingly, we found in our latest poll of real estate agents across the nation that those who put in more overtime tend to make more money than those who don't. Agents who put in around 20 hours per week often earn around $25,000. Agents who work part-time and between 21 and 40 hours a week make around $46,000 a year.
It's feasible to make enough money for your budget with a side job as a part-time real estate agent if you're seeking extra money or a career that will allow you to make ends meet while still having flexibility. But not all aspects of your income depend on how many hours you put in.
Additional Elements That Affect Real Estate Agent Revenue
Numerous more variables that affect how much you can make as a real estate salesperson were uncovered by our poll.
1. Your Industry
Your chances of earning top money as a part-time real estate agent increase with the health of your market. Our most recent poll revealed that Virginia has the highest average real estate agent income. There, a full-time real estate professional can expect to make over $100,000 annually. To find out where your state ranks on the list, look at the top ten list of states.
2. Your Level Of Joy
It's true that how content you are can have a big impact on how much money you make. According to the results of our poll, agents who are happy with their jobs make nearly three times as much as those who are not.
Real estate agents need to be careful not to burn out because of this. Sometimes all it takes to improve your level of contentment is to maintain positive thinking habits.
3. Your Market
It should go without saying that your specialization can significantly affect your income, but do you know how much? In our poll, we asked real estate agents with expertise in 12 distinct areas to disclose their salaries. Choosing a specialty as a part-time real estate agent may have an even bigger influence on your income because you won't be putting in as much time as agents who work 40 or more hours per week. Prior to choosing a specialization, consider it strategically if you want to get the most out of your time.
4. Your Self-Investment Practices
Nearly $50,000 more is earned by agents who take advantage of professional development opportunities than by those who fall short in this area. There are several ways to broaden your real estate knowledge. There is always something new to learn, whether it is from conferences in person or online.
5. The Length Of Your Real Estate Career
As a part-time real estate agent, your initial income could be modest because real estate requires time to build momentum, but our data shows that as agents work longer in the industry, their salary increases significantly and steadily.
Are You Suited For A Part-Time Real Estate Career?
It might be quite helpful to know how much money you'll make as a part-time real estate agent before deciding if that's the career path you want to take. You might find joy in being your own boss and assisting individuals in finding their dream houses if you're searching for a real estate side job or a way to keep active without committing to a full-time career. This is something every real estate agent gets to experience.