Forget what others say, Jonathan Pressman writes. Only you can determine whether or not it’s time for you to downshift your real estate career and work as a part-time or dual-career agent.
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With only 29 percent of all agents doing real estate deals in 2024, many licensees now consider themselves part-timers. Committing to work as an agent full time is a serious undertaking that might not be the best fit for everyone. Even if you’ve worked as a full-time agent for years, circumstances change, and your hours might, too.
Fortunately, you can still thrive as a part-timer and enjoy more flexibility while keeping your license and a portion of your business. Here are six circumstances that may indicate it’s time to make the move to part-time agent.
You’re nearing retirement
You’ve worked hard to build your business and while you could probably do without showing a dozen homes to an indecisive buyer who isn’t even pre-approved, you may still want to continue working as an agent in a part-time capacity. So if you’re nearing retirement but you’re not quite ready to hang up your hat yet, transitioning to work as a part-time agent can offer the best of both worlds.
You got another job
If and when a great opportunity presents itself, you might decide it’s worth putting your real estate career on the back burner. Many real estate agents have full-time jobs and enjoy working as agents part time. If your business picks up again or the other job doesn’t work out, you can always come back to real estate full time.
The commission-only model doesn’t work for you
Most people appreciate the stability you get from gainful employment. After all, it’s why just 14 percent of people choose full-time self-employment. If the commission-only model isn’t working for you, it might make sense to work as a part-time agent. Your full-time job can provide you with the stability and salary you’re looking for, and any commissions you earn from real estate can supplement your income.
Your priorities change and you have less time
Going back to school, starting a family or traveling the world are just a few reasons you might find yourself with fewer hours for real estate. Most full-time agents are on call 24/7, with showings and open houses occupying many of your nights and weekends. If you decide it’s time to dedicate more of your time to other pursuits, scaling back your real estate career could help you find a healthy work-life balance.
You’re not making ends meet
According to NAR, around 32 percent of Realtors earn $100,000 or more annually; for agents with less than six years of experience, that figure declines to just 1 in 4. It’s not easy to make a living as a real estate agent, so if your commissions alone can’t support your lifestyle, it may be a sign you should switch your focus away from full-time real estate.
But don’t worry — even if you aren’t making enough as a full-time agent, you can still keep your license and earn some side income through commissions or referrals.
You’re just not enjoying it anymore
Life is short and if you’re just not enjoying your work as an agent, but you still like the income, cutting your hours back might be the perfect fix. Sometimes you don’t need a great reason to dial it back to part time — you just need to follow your instincts and find out what you’d rather do more of instead.
Jonathan Pressman is a Realtor who writes on a wide range of financial topics. Connect with him on LinkedIn and Instagram.