Thursday, June 23rd 2022: How Being a Part-time Realtor Helped Me Pay Off My House in Just 5-years!
How Being a Part-time Realtor Helped Me Get Ahead Financially
When most people consider a career in real estate, they assume they are going to have to pursue it full time. For me that just wasn’t the case. Real estate was a great way for me to earn extra money in addition to my career. Your first reaction may be that maintaining a full-time job while starting a real estate business would be overwhelming or too time-consuming, but it simply isn’t true. And just in case you’re thinking I’m one of those people who wakes up at 4 am and runs marathons, I’m not. I’m pretty laid back and like to enjoy my life.
One of the greatest parts about having a full-time job is that it provided me with a target audience. Agent’s spend a large portion of their time finding leads. But for me, I had a group of people who already knew and trusted me: my co-workers. I’ve had a pretty steady stream of clients by just casually mentioning to people that I’m a Realtor. Once word got out, there have even been times when I’ve had too much business. Not a bad problem to have!
Having a side hustle as an agent allowed me to have more control over my finances. If I was too busy, I could refer a friend to another agent (and still receive a referral fee). If my schedule was lighter, I could seek out people who had shown interest.
My ability to earn more money wasn’t reliant on a yearly bonus or my company’s decision to give raises.
Because my income as a real estate agent fluctuates, we never account for it in our regular budget. Whenever I earn a commission, we always treat it as a windfall. These windfalls made it possible for us to pay off our home in only five years. They made it possible for us to invest in an income property. They also made it possible for us to take a three-week vacation to Hawaii. These are goals that most people look at their budgets and believe they’ll never be able to accomplish. There was a time when we felt the same way. But a few extra hours of work each week has made it possible to accomplish so many of our goals and live the life we want without financial stress.
Becoming a Realtor doesn’t mean you have to give up your 9 to 5 job if you don’t want to.
If I haven’t convinced you yet, here are just a few more perks:
- Keep benefits from your job (health insurance, company 401K, etc.)
- Work with clients in the times that are most convenient for them (weekends and evenings) without interfering with your office hours
- Continue receiving a regular paycheck while earning large commissions
- Enjoy tax advantages of owning your own business
- And last but not least, build a business you’re proud of and can eventually lead to a full-time gig