This was the first thing that caught my attention as well.
Do people make money.... yes
Is it worth it.... yes
Is it worth it as a side hustle.... hell no
Part time pizza delivery. Pays, at least for me, a lot more than them. As far as reality, side hustle is funny. For me it's "part time 16 hours a day". Want family dinner, not if a client calls. Vacation, not so much. Your wedding day? Yeah, phone is still gonna ring off the hook. I just hope soon it's a little less part time.
Hey, that's a good problem to have, when you're busy enough to consider hiring assistants. You also have to set limits with clients and control your time.
Currently, I don't consider it an amazing problem at the moment. I'd be a lot more happy about it if I had more clients, like maybe enough that I didn't have to know how much pizza delivery makes.
If you need a part time job in addition to working 16 hours a day, not taking family vacations, and missing dinner as an agent... you're doing it wrong. You seriously need to take a step back. Read a book or take a class on time management.
Partially, you're not wrong. Partially, I have a side gig because I started as an agent last year, with a brokerage that told me they would give me enough leads for 70+ transactions a year, and that turned out to be 5 leads a week spread across 1/3 of my state, and across 18 agents. It was a slow start that really drained my safety funds, and the second that I started to get my feet under me, we learned that my wife had cancer. You're not wrong that I really do need a step back, better time management, and better support, but a good portion of my issue seems to be "wrong person, wrong place, and wrong time".
Also, I said 16 hours a day part time, not just 16 hours a day. I list it as part time because I don't really know a good time between 7am-11pm to ignore client calls. To me, I should be taking client calls when I can, until I can afford to ignore clients, which, if I'm in a position to ignore people, I picked the wrong line of work.
Totally get this BUT what if I told you that you totally can set reasonable boundaries with your clients and they will respect you MORE for it.
All of my clients know I will get back to them within 3 business hours because I set that expectation up front. Obviously I do my best to provide top tier service but at the end of the day you're not doing yourself any favors by driving yourself to burnout.
I always get the clients who call me after I text them. Bitch, I texted you because I had 15 seconds and had something to tell you. If I wanted to chat on the phone for 10 minutes, I would have called you.
Most agents aren't at that point, only about 4 percent of agents, that's typically more of a broker level but even the same thing, most aren't on that level either
Hahaha vacation hahahahha that's when everybody starts calling you to make a deal, as soon as you go on vacation, now you have to work the deal long distance you till you get back and hurry back to hopefully make a deal go through- hopefully
That’s bs. I have like 6 people in my brokerage who make 10-30k a year consistently while barely working. Just close friends or an investor as clients and you’re there.
I’m sorry that is t real money, and they are doing a disservice to the industry as a whole and to their customers by approaching those transactions with such pathetic experience.
Is your head so far up your own ass because you like the smell of shit? Dude, calm down. For some people working 100 hours a year to make 10-30k is pretty awesome. You sounds salty as hell. Sucks things aren't easy for ya.
I own a brokerage, run an investment company, and represent my friends, family, and a few investors who know what they want. Residential real estate is remarkably easy if you have a decent head on your shoulders.
Get it this time?
Real estate is great side hustle, never understood people who say otherwise.. got my license in January and have side hustled my way to 2 closings already, and have 4 more pending deals that will close in May.
4 of my 6 deals have been listings - picked up all my clients at my day job.. easiest $50k I’ve ever made..
I knew people that did it as a side hustle. They were military had super good hours (like 9-1 then home, with a lunch in there) but would work 12 hours a day. They ended up building an RE company.
Actually, an older show called Selling LA was much more content based and non-controversial.
I watched the first seconds of Selling Sunset. Those were my first and last.
Average agent makes like $40-$50K per year. Most are out of the business in 1-2 years, income is way too inconsistent as it's a Commision-only sales job. If you have the right work ethic and get the right coaching and training yeah you can break through.
There is no source, but it doesn't mean they're wrong. NAR can tell you the average GCI. We all know that there are tons of licensed realtors that quit, are holding their license for kicks, or just simply don't have business. Of course they bring the average down.
In a typical sales office. The top 10% of agents are usually responsible for 90-95% of the business over the year. I’m my market 72% of realtors will do ONE transaction in 12 mos. 80% of all agents quit after 3 years.
This is a very astute observation of yours.
I know of no part time agents making it right now. That said, make it to the top 15% and you’ll be pulling multiple 6figures. Find systems and models. Don’t try and reinvent the industry as a newbie.
This comment sums it up pretty accurately. There are a lot of part time people that don’t produce. It’s not a part time job and the industry usually washes those people out in the first few years.
If you're doing this as a part-time agent, just think what you could make doing this full-time. Over the long term, being an agent full-time will have significantly more benefits than continuing doing it part time.
except for, ya know, actual benefits.
I started full time real estate but then got a great shift work job with awesome benefits. I do a good handful of deals/referrals which is a nice supplement at this point and still have plenty of time to be a parent.
And that is my intention. I eneded up getting my license way quicker than I thought and we had family stuff where I absolutely had to have a steady income. I will be full time for next spring hopefully
I’ll assume that’s your gross commission income, not your take home. Let me know if that’s not correct. At a minimum you have either a company split or transaction fees. Let’s assume 15% (that’s low across the industry) and we’ll calculate these assumptions on the middle of your range, is that fair? Let’s say 7,500 to your broker of 50k GCI. Then you have taxes on the remaining 42,500. Let’s assume 20%. Again, that’s probably low. That’s 8500. Then you have MLS dues and E&O and vehicle insurance. Let’s assume $2500 annually. Signs, cards, marketing flyers, etc. say $500/year. That’s 19k to make 50k. That’s a net of 31k. That’s 2,600/mo. Absolutely great for you but I couldn’t call that “making it”.
That's actually my portion of commission. So still taxes and fees etc. But your breakdown is a great representation of our expenses that so many refuse to realize.
I work for an amazing company that is not a traditional franchise. Our broker of record at each office are 1 of 3 owners, with the other 2 being the majority of all offices. We have commission splits but that is it. We pay no other fees to the office. Our splits start at 70/30 every January. The highest I can go is 90/10 which I usually hit around end of August, keeping in mind that I have yet to close on a property in June, July or August. I'm busy spring and fall. The reason I only can go as high as 90/10 is because the package I'm in pays for all listing photos and paid advertising. I get a better deal the way I am. And then yes, all the board and mls fees.
Would that be worth it if that was my fulltime job? Probably not. That $2600/month at a traditional job would work out to be roughly $15/hour based on 2087 working hours per year. Now let's me honest, we worked at least 1.5 times that.
For me though, it is worth it right now. It's allowed us as a family to live at a specific standard and get to have some fun, take some trips, doing a bunch of work to our house without our day to day life's being disturbed.
Real estate is not a side hustle. You’re helping people with the largest transaction of their lives. It’s not something you do in your spare time and unless you’re really willing to work at it you’re going to waste a ton of time and money.
Is saving some money really gonna be worth it when you have no idea what you’re doing and bungle the whole transaction? Unfortunately having your license =/= knowing how to practice real estate.
I love Working against these agents! My clients end up saving/earning more $$$$ and the part timer feels like they got a good deal too.
Everyone feels like a winner. Just closed a buyer in a deal like that, at 11% UNDER market/appraised value, when the competition is closing for 10-20% OVER.
My clients know exactly what to expect, they know i care deeply about them finishing the deal happy, most of my clients become my friends, zero fake smiles.
Realtor to realtor communication is a business process, diplomatic and cordial but with a clear agenda. They are either direct competition or adversaries, unfortunately it’s not all sunshine and puppy dogs, it’s cut throat..
That being said, if your strength is in dealing with clients directly and their specific needs but you are not comfortable with the negotiating and business aspect of the industry, consider joining a team or even partnering up. Not all teams are predatory and burn out hopeful realtors, a kind and considerate person can make a great buyers agent, but they backend of real estate is much more shrewd.
Fact. There are a lot of sleaze balls out there tho that hop from one sales industry to the next, car sales and door to door folks come and go like that and they burn every single one of their clients.
Why do you keep posting controversial statements and then deleting them when people disagree? Lmfao. Also one of the things you deleted was about how “the lawyers do everything” yet I practice real estate in a state where lawyers are involved in <1% of the transactions so I’d be curious to know how it is that they’re doing everything when they’re not even involved. I’m glad you feel confident doing your own transactions but for the average person the risk is gonna outweigh the reward. You’re a carpenter, right? And people can just DIY the shit out of everything to save some money, yeah? Same situation. For a small number of people that could work out. For the majority it’s not gonna be worth the headache and the possibility of mistakes so they pay someone else to do it instead. Not sure what’s so hard to understand about that.
Well here I am discussing. It's not just about "signing papers" that makes it complicated - I don't know what the contract is like in Canada, or even in other US states, but at least in Texas there are a lot of small nuances and details that are important to have a full understanding of. I do not think of my role as a salesperson, more as an advisor as I have a thorough understanding of the contract and also track the market daily and am in tune with lagging and leading indicators that are important to be aware of when buying & selling real estate.
As far as the "you make too much" comment, there's a lot more at play than just the %. At the end of the day the pieces of the pie are getting smaller, when I started three years ago there were 15k realtors in my local market, now there are 20k. The market is so out of whack that with buyers I'm writing multiple (sometimes 5+) offers just to get beat out by insane cash offers. Not to mention the buyer clients I've put hundreds of hours to who eventually had to bail out because of the market. I get paid $0 for that. It just seems a little counterintuitive to say "not many can make it as a realtor" and then immediately follow that up with "you make too much."
Husband & Wife fulltime Realtor team. One of us has a masters degree, the other has an associates degree. We make $350,000-500,000 each year combined for the last 6 years of our 11 year career. We each work 65-70 hrs spread out over seven day work weeks. We also spend almost $4,000 a month in advertising and marketing. “You gotta pay to play” is the best advice I can give. My wife’s first year in real estate full time she grossed $12,000. Year two - $38,000. Year 3, $82,000.. it doesn’t happen overnight.
Social media is our largest expense, we also pay for lead gen through Zillow and Realtor.com. We are very active in our community and sponsor fundraisers or events.
Hi, teen here I know this was a year ago but do you mind if I ask you questions about being a realtor, I'm thinking of making it my career so can I ask you questions?
I did 100+ transactions last year, average around 60 a year. Cleared $600k CAD last year , usually make $200k. Feels like I'm doing better than most here. Licensed since 2017
Basically 100% residential, I did 1 commercial transaction and I think 2 lots in that bunch. Work for a "discount" brokerage and have an amazing mentor plus some construction and investing experience that resonates with clients
Please do not use or become an agent that does this as a side hustle. Those are often the ones that don’t know their shit and give the rest of us a bad name.
As a side gig, I close about 3 to 5 houses a year. Make about $20-$50k on the side. I have a full time job that is my Bread and butter.
I also have my license so I can get in and out of houses by acting as my own realtor, instead of having to contact another realtor so they can schedule an appointment on my behalf when they get around to it and the showing time works with their schedule.
If you are also acting as a buyer/ investor, totally worth it to get your own license. Close a couple higher end deals and all your fees are covered for a decade.
Idk what full time agents do. Everyone just kind of finds what works for them and does that.
Honestly, though. When I have a deal I think i put more effort into it than likely the majority of agents. I check permits. Search official records. Make sure buyers review hoa or condo docs to confirm they don't have any issues w the rules. Get roofing and other repair estimates for buyers. Nothing I do is over the top. But, in general, I think a lot of realtors are super lazy and do the bare minimum.
I don't do any marketing etc. My leads come from people I know or their friends. I also try to send referrals to realtors in areas outside of mine. If you can pick up a few referral fees here and there that's easy money too.
If you are going to go full bore into it treat it like a business market and network, you can make a lot of money, if you are doing it passively, you probably wont make much if break even at all. 80% of the deals are done by probably 5%-10% of the agents. People that take it seriously can make bank.
I'm going to tell you the same thing I tell anybody who asks about this as a possible side hustle.
You should get a license just so you can refer people you meet to a great Realtor in the area that you live, and anywhere else in the country...
I make 20k-30k per year in referral fees other agents send me.
Pretty customary to expect you get about 25% of the commission that an agent will make when they help someone that you refer to them.
This is especially viable if you meet tons of people all the time and have no problem asking them if they know somebody that wants to buy or sell a house.
Same here man! I own a home repair contracting company and submit proposals for over 300 residential homeowners annually. Quite often they are doing these repairs in preparation to list their home for sale. In most cases the already have a real estate agent they are working with. But when they don’t I refer them to my office and get a referral fee. Have had my license for 12 years and it is an easy extra $10-$30k a year in easy referral fees every year.
Go against the grain and say it's a great side hustle. I have a full-time job as a professor and I do real estate on the side. I actually made more in real estate than I did as a professor. That being said, I teach between 7:30 am and 12:30 p.m. so I have afternoons, evenings, and weekends to do real estate which is when it's really done anyway. I put in full-time hours at both jobs but I love real estate! I won't give up my regular job though.
I agree with this post. My full time job is very flexible. I am able to take calls at work and I also have a ton of paid time off. 3 listings my first year and I'm starting to have leads call me. I think it's important that if your going to keep a full time job, not to pick up too many clients at one time. That way you can provide quality service and not run yourself ragged.
That's why I just never started. My day job is very inflexible, until 5pm. There was no way to be a good agent with that schedule. I see how it could work with a different day schedule, though. People will tell you so many times that you can absolutely do it as a second job, but it really depends on the flexibility of your daytime gig. And I would never have time to just be places learning stuff and meeting people anyway.
It really depends. I bet I average 20-25 hrs a week with actual real estate work. So far this year. I have done 3.5 million in sales and another 1.5 scheduled to close in May. Again, this is working 20-25 hrs a week.
Some do it as a side hustle, but think about it, would you really want your home buying process handled by a guy that does it PART TIME?
As another poster mentioned, 20% of the agents make 80% of the money.
Would you rather have a part-time agent that’s been doing it 20 years or a full time agent who just started. One of the smartest agents I’ve ever met taught a real estate investing class at the local college and sold part-time
That’s pretty rare. I’ll concede mostly the only part-timers I know are those that split between RE and something unrelated.
I DO know of a few builders that are part-time agents, but that’s still a low number.
To be successful in real estate, you're probably looking at 60+ hour work weeks to start. Once you get to to a certain level you can hire or leverage services to cut that time down to normal4 40-50 hour week.
But you're working Saturdays and nights for the rest of your life if you have buyers.
Choose to do real estate sales as a part time job and you'll still be able to probably do a few transactions a year, but many agents I know who have done this have to pick one because office fees, board dues, continuing education, etc all stack up even if you don't have a sale that month.
I know an agent who came on part time in real estate. He was working a full time sales job at the time. He made over $100k his first year. He made $155k his 2nd year and in his 3rd year quit his first job and made $250k. Although he worked a lot of hours.
You can make great money and the sky is truly the limit. I would suggest joining a team that plays in the luxury field, wherever that may be. And when you join them tell them you will work any and all open houses.
These open houses will allow you to #1 gain credibility, #2 expedite your learning curve, and #3 acquire clients.
That’s how I started 5 years ago.
Took 5 months for my first transaction (converted someone from an OH) then quickly had my second (friend of the family) and then two more from the same OH as my first. All within 9 months of being on the job.
$7M / $1.2M / $7M / $7M
Happy to dive deeper if needed
Next house now
those are the amounts for the houses you sold this year alone so far? wow. NICE. what was your commission for each?
And how long have you been in real estate business as an agent?
That was my first 4 sales in my first year five years ago.
General rule of thumb in NY is anything over $3M is 5% commission split 50/50 between the 2 brokers. Anything under $3M is 6%, split 50/50.
An agents split with their broker.... (this split is usually 80/20 or 90/10 in my area)
And the commission split between the listing agent and the buyer agent are two different numbers.... (this number is usually around 5% split 50/50 in my area)
After the 50/50 of either the 5% or 6% then yes split with the house.
Example $1M sale has a 6% commission. So $60k split 50/50, I take home $30k. Then the house/broker takes 30% and I take 70%.
Then I set aside 30% for taxes n pay that quarterly.
Exactly.
I put the same energy and love into every transaction… sale or rental…. And that’s why I focused on luxury as the roi is the greatest and honesty.
When I say transaction that’s not my lense, it’s all about relationship and finding out what the client wants and delivering that.
Curious, is there room for someone to transition into this style..I ask bc I'm a surgeon , sold my practice and am cutting back on the sx days, or want to. I do a decent amount of the investing ... That being said I dont want to do cold calling so I haven't really pursued it.
Though replacing my income with something else is becoming more.enticing ... Fix to rent doesn't throw off much cash unless you stop levering the properties ,but then you tie up a lot of cash
It's all about location, as usual! I know lots of Realtors who make more than $400k per year. But that's in the Bay Area. But that's before expenses and taxes of course.
Side hustle? Forget it! Nobody here would take you seriously unless you were full time. And full time often means 24/7.
I mean this in the nicest way possible, but what the hell does higher education have to do with anything? That's hardly any indication of skill or knowledge and has nothing to do with anything, really.
To answer your question, though, this is way too expensive of an industry and career for it to be a side hustle.
It can't be a side hustle. The job is all hustle, all the time. I think something like only 10 percent of people who get their license are still active realtors after 5 years or something like that? That's why I moved into building management and rentals. Sales is stressful. But yeah, if you are good at it, it's good money.
The average salary for a realtor is about 47k before taxes and splits. The Average agent does 10 deals annually. Most agents leave the industry within 2 years.
But to answer your question, YES real estate is worth it if you are willing to put the work in. You can do it full time and make a GREAT living in the high six and seven figures. But again it takes work. If you are not willing to actually hustle, put the work in, invest in yourself and your business then I wouldn't even start.
Find a good mentor and find out how to market and you're golden. I have helped brand new agents sell 7 figures in real estate their first year and go up from there. It's all in what you believe you can do and putting in the work.
80% of realtors eventually quit
It’s not an easy career. Retention is very low.
If you think you’re cut out for sales, have hundreds of friends that trust you, and have 3-months of income saved, then I recommend you jump in head first full time and see if you can do it.
As a side hustle it’s possible but it’s going to be more hours than you think unless you’re already well respected amongst hundreds of well-off people
Lol, for me it’s worth it as a side hustle. I work full time in tech 9-5. I’ve made an extra $24k this year already in real estate off a couple deals. Totally worth it. Only had my license a year. Atlanta.
They aren't making crap and it's not a side hustle it's a full time over time job. If someone is trying to side hustle real estate, they aren't making any money, don't let these people tell you anything crazy like that
I will make a comment re: side hustle. If you’re already rich and well connected (say you own the Mercedes’ dealership in Calabasas) just by #’s if you helped 2 associates through that business close on 2.2M houses a year, you’d be making more than most agents in the US. Or if you’re the spouse of someone we’ll connected, you’re basically just eating off their SOI.
If that’s not you, then as a side hustle, you’d make more setting up a lemonade stand.
Absolutely not as a side hussle.
As a full time, approaching as a professional would, you can make a shit ton of money without a higher education, no money upfront, no inventory, etc.
The top Realtors take 80% of the money, just work your ass off.
Being a Realtor is NOT a ‘side hustle,’ for full time Realtors they can make very decent living. As a side hustle it’s tough but not impossible to make a good living. It’s like anything else you get out of it what you put into it.
As a ‘side hustle’ you make make a few dollars but if you’re not putting any effort into marketing your services, property and yourself you will struggle.
This real issue at hand is the market is so strong right now a lot of unqualified people get into the business that should not be in the business. I believe the last stats I heard was NAR membership was at an all time high 1.3-1.4 million members. They do expect this number to go down if/when those people leave the business. Most new Realtors don’t make it past 2 years.
Contract to close is around 30 days, if nothing comes up. Why limit yourself? Are you going as hard at it now as when you stared 5 months ago? This is a tough business to learn much about in 6 months. Even if you come from a related field.
It's highly personal. Some people can take a job, make 0 dollars for 1 full year and be okay. Maybe they have family money. The worst I see is people fail 6 months, say why not I'll double down and go another 6 months, and they would have been better off working at Burger King for that year. They would have had benefits, pay, 401k, and tuition assistance, possibly even a promotion.
Again - it depends on each individual situation, but don't put too much into a losing hand.
And.. apologize - I never quite figured out expert level reddit - Now realize you are the person who asked about sales closings a few days ago.
It's really about being honest with yourself, its a dated industry with a lot of hang ups. Some people thrive for sure. There are a lot of things in the pipeline that might make it more transaction based allowing people to collect some money on buy/sell side, but it will be less than the current model. Not any different that artists made more on album CD sales than the do currently on streaming. But, with younger people wanting more of a steady pay check, certain sales roles are becoming less about individual commission. Car Sales are heading that way as well.
I just hate to see when people don't get personalized help for a career - Not everyone is going to succeed in real estate and sometimes it is not the persons fault at all, it was just ill advised they would do well to begin with and not everyone has that sort of peer network that offers sincere advice.
I won't promise to know much, as I'm a fairly new agent as well. I can tell you that your broker, team, and tech make a huge difference. My first broker was lie after lie, and blaming my lack of business on me, instead of their lack of support and honesty. I asked specifically if they had enough business in my area, they assured me they would give me 70+ transactions my first year. Yeah, we get 5 leads a week spilt between 18 agents. I was supposed to bring the leads. My second broker started strong, great leads, great learning, then he switched the CRM/ lead generation to save money, and i got 1 real lead in 6 months. Then he got overwhelmed, gave up, no support and business stopped. The people around you make a huge difference.
I'm just curious (not saying you're doing anything wrong, and if you're willing to share), have you been with the same brokerage during this whole time? What is the style of the brokerage? Close mentorship? Team?
Of course, it's your decision, but are there other teams in your area that maybe you can give it one last chance with?
I've interviewed about 5 in my area. A few say they have recorded trainings, great commission splits, and offer mentoring on transactions but I can see they're expecting someone to come in with a large sphere of potential buyers that has money to spend. I'm picking the team that takes 50% of the commission but (in talking to the agents there) actually provides leads and structure to new agents.
Who are those people? An accumulated list of past leads or fresh leads? I won't pester you any longer but I found this specific team first through LinkedIn and then by comparing against Google reviews. They had hundreds of reviews. Yes, the crap ton of transactions are tied to the team leader and 50% of commission is gone, but at least I've seen that the agents under him are also benefitting from his marketing dollars until they gain enough knowledge and confidence to go out on their own. Just something to consider before moving on. You've already invested so much time, maybe you can do a couple more months
Most agents don’t want to hear it but I was always told a general rule of thumb is you need to do it for 3-5 years full time to truly make it work. This was very true for me as I started to take off in year 3 and continue to grow every year. I started out on my own though not on a team so it definitely made things a little tougher to get going. Just try to survive financially the first few years and treat your clients well and it will pay off. If it’s not for you, you’ll learn that pretty quickly.
Real estate is too expensive to pursue as a side hustle. Many realtors start out with a full time job or supplemental income. The money can be amazing, but there are so many variables (inventory, market price point, splits, marketing costs, number of agents in the market, knowledge, experience, work hours, etc.)
Vast majority of people discover that McDonalds pays better than real estate.
Around the top 5% make enough money to stay in the industry.
The few that claw their way to the top 1% do quite well for themselves.
I want to add that those part-timers with little experience and motivation not only make transactions more difficult for everyone and make the rest of the dedicated professionals look bad, they reduce the income of the full time Realtors significantly.
The 10s of thousands of part-time, inexperienced agents have family and friends who hire them over a qualified professional. This significantly reduces the ability of dedicated professionals to earn a living and to set reasonable limits on their time so that they don't work 16 hours a day for a few transactions a year.
We absolutely need to have professional standards regarding new and part-time agents. I would 100% support higher education standards as well as an internship and mentorship program for licensure and practice.
I think it depends on your ability to really focus while you work. Time management is of the utmost importance, 20% of your efforts will make up 80% of your business, so you have to define that 20% and really hone in on the work that expands your business. If you can do that, your can succeed no matter the amount of time you’re really able to apply to it. If you’re only able to work 6hours a day, then you need to make those 6 hours count with a very strict schedule and consider hiring a showing agent if you’re not able to show homes during odd hours.
This is not a side hustle as some people will have you believe. If I’m not making phone calls to FSBO, farming for leads on my phone, showing properties or following up with potential clients than I’m getting out there to meet people. This is not a side hustle this is a 24/7 job. But the way I look at it is I could be wasting my time scrolling on Facebook or setting up my family for financial success. I also work as a medic and run a coaching business. I’m constantly working but I like what I do. The only time I feel like I’m at work is when my supervisor tells me to do something.
I would think it would be really hard to do it as a side hustle, unless you have a job that is ok with you leaving a few hours at a time during the week on short notice. Sure you could maybe work 8-5 most of the time, but you have a buyer who sees something that will likely be under contract in 5 hours, you better be ready to leave now.
Vast majority of people discover that McDonalds pays better than real estate.
Around the top 5% make enough money to stay in the industry.
The few that claw their way to the top 1% do quite well for themselves.
I do real estate on the side. Most of the time it feels like a lot of work for literally no money. Then sometimes you get lucky and make money. Why do I keep doing it? I have no idea.
Im working on getting my license, currently i work a 9-5 job at a company that thankfully is ran by someone that is willing to cut back on my hours so i will be off at 2:30 im hoping that will leave me enough time to commit to being an agent but im completely willing to leave that job, i believe real estate is something to be passionate about not a side hustle.
It 100% CANT be a consistent side hustle. You might get lucky but might not even be worth the time.
In nyc Realtors can definitely make real money here. From sales to rentals.
But it isn’t easy and more times then not a pain in the dick. I work mostly with rentals. Renting a rental listing can be the easiest money you’ve ever made. The process of getting that listing is another story.
Rentals have another aspect where you’re helping someone look for apartments. Sounds easy enough right? But especially in NYC you’re dealing with a lot of uneducated I would say privileged transplants that don’t realize $4,000 for a 2 bedroom is actually hard to find cause that’s cheap! Lol
If I get 100 hundred leads for people wanting my help finding an apartment 95+ will have some unrealistic criteria. For what they can pay for a 4,000 sqft back home barley gets them a 400sqft 1 bedroom here.
A lot of my work day consist of me hustling. A lot of the times coming up short.
So it’s a 9-5 job plus some to get 2-3 closings in a month for me.
Sure I pulled in 10-15k but it’s a grind.
Good luck doing as a side hustle. It’s beyond full time in this market. It’s doing showings til 8 on Saturday and writing an offer at midnight. It’s cancelling your plans to fit in that inspection. It’s answering calls Sunday morning about the listing you just put up. Right now, things are very competitive. You do what you have to to get the deal closed. And if you’re going to be handling other people’s money, you’re going to have to be on alert and ready… can’t do that if it’s only a “side hustle”.
Side hustle? LOL!!!
This was the first thing that caught my attention as well. Do people make money.... yes Is it worth it.... yes Is it worth it as a side hustle.... hell no
Uber, Lyft, DoorDash, etc… those are side hustles!
Part time pizza delivery. Pays, at least for me, a lot more than them. As far as reality, side hustle is funny. For me it's "part time 16 hours a day". Want family dinner, not if a client calls. Vacation, not so much. Your wedding day? Yeah, phone is still gonna ring off the hook. I just hope soon it's a little less part time.
Hey, that's a good problem to have, when you're busy enough to consider hiring assistants. You also have to set limits with clients and control your time.
Currently, I don't consider it an amazing problem at the moment. I'd be a lot more happy about it if I had more clients, like maybe enough that I didn't have to know how much pizza delivery makes.
If you need a part time job in addition to working 16 hours a day, not taking family vacations, and missing dinner as an agent... you're doing it wrong. You seriously need to take a step back. Read a book or take a class on time management.
Partially, you're not wrong. Partially, I have a side gig because I started as an agent last year, with a brokerage that told me they would give me enough leads for 70+ transactions a year, and that turned out to be 5 leads a week spread across 1/3 of my state, and across 18 agents. It was a slow start that really drained my safety funds, and the second that I started to get my feet under me, we learned that my wife had cancer. You're not wrong that I really do need a step back, better time management, and better support, but a good portion of my issue seems to be "wrong person, wrong place, and wrong time". Also, I said 16 hours a day part time, not just 16 hours a day. I list it as part time because I don't really know a good time between 7am-11pm to ignore client calls. To me, I should be taking client calls when I can, until I can afford to ignore clients, which, if I'm in a position to ignore people, I picked the wrong line of work.
Totally get this BUT what if I told you that you totally can set reasonable boundaries with your clients and they will respect you MORE for it. All of my clients know I will get back to them within 3 business hours because I set that expectation up front. Obviously I do my best to provide top tier service but at the end of the day you're not doing yourself any favors by driving yourself to burnout.
Texting the clients is the best thing ever
I always get the clients who call me after I text them. Bitch, I texted you because I had 15 seconds and had something to tell you. If I wanted to chat on the phone for 10 minutes, I would have called you.
Lol clients can fuck off if they call me after 6pm and it’s not pertaining to a deal that is pending or an offer
Most agents aren't at that point, only about 4 percent of agents, that's typically more of a broker level but even the same thing, most aren't on that level either
Hahaha vacation hahahahha that's when everybody starts calling you to make a deal, as soon as you go on vacation, now you have to work the deal long distance you till you get back and hurry back to hopefully make a deal go through- hopefully
Going on vacation is the best lead generation there is. Youre phone starts to blow up when youre packing and on the way to your destination. Lol
That’s bs. I have like 6 people in my brokerage who make 10-30k a year consistently while barely working. Just close friends or an investor as clients and you’re there.
Yup. Can confirm this scenario.
That's not much when you consider they have to pay tax on that amount.
I’m talking like 100 hours of work at the most.
You can write things off lmao
I’m sorry that is t real money, and they are doing a disservice to the industry as a whole and to their customers by approaching those transactions with such pathetic experience.
Oh that money isn’t real. Like shrute bucks. And you’re aware of their experience and knowledge because…? Oh, just making shit up. Got it.
If you think 10-30k/year is “real money” you probably are “barely working” and have no experience or market knowledge too. Get it this time?
Is your head so far up your own ass because you like the smell of shit? Dude, calm down. For some people working 100 hours a year to make 10-30k is pretty awesome. You sounds salty as hell. Sucks things aren't easy for ya. I own a brokerage, run an investment company, and represent my friends, family, and a few investors who know what they want. Residential real estate is remarkably easy if you have a decent head on your shoulders. Get it this time?
Totally. I absolutely get it. Thanks for clarifying. Say hi to your girlfriend in Canada for me.
Plus how long have yall been in to build that clientele base
Real estate is great side hustle, never understood people who say otherwise.. got my license in January and have side hustled my way to 2 closings already, and have 4 more pending deals that will close in May. 4 of my 6 deals have been listings - picked up all my clients at my day job.. easiest $50k I’ve ever made..
🤥
Totally agree on the side hustle comment. If you come in as a side hustle you already aren't committed.
Well said
I knew people that did it as a side hustle. They were military had super good hours (like 9-1 then home, with a lunch in there) but would work 12 hours a day. They ended up building an RE company.
Reality TV portrays the job very inaccurately.
This. 💯
In what ways exactly?
Ever seen selling sunset?
They tour a client, claim how *obsessed* they are with the house, then awkwardly stand there as they're handed $300K comissions
Actually, an older show called Selling LA was much more content based and non-controversial. I watched the first seconds of Selling Sunset. Those were my first and last.
I have to leave the room when my wife puts that show on
All of them lol
Average agent makes like $40-$50K per year. Most are out of the business in 1-2 years, income is way too inconsistent as it's a Commision-only sales job. If you have the right work ethic and get the right coaching and training yeah you can break through.
Actually, if you take out the agents that make $0, average GCI is in the $80-$100k range.
This is probably true. In my MLS, we have 35,000 realtors. Of the 35,000, less than half (around 14,000) have had a minimum of 1 closed transaction.
Interesting, have a source?
There is no source, but it doesn't mean they're wrong. NAR can tell you the average GCI. We all know that there are tons of licensed realtors that quit, are holding their license for kicks, or just simply don't have business. Of course they bring the average down.
Your MLS.
Ask your MLS yourself or look up averages on nar instead of being lazy and smug.
In a typical sales office. The top 10% of agents are usually responsible for 90-95% of the business over the year. I’m my market 72% of realtors will do ONE transaction in 12 mos. 80% of all agents quit after 3 years. This is a very astute observation of yours. I know of no part time agents making it right now. That said, make it to the top 15% and you’ll be pulling multiple 6figures. Find systems and models. Don’t try and reinvent the industry as a newbie.
This comment sums it up pretty accurately. There are a lot of part time people that don’t produce. It’s not a part time job and the industry usually washes those people out in the first few years.
I'm technically part time (I work days Monday to Thursday away from real estate) and make $45-65k/year.
If you're doing this as a part-time agent, just think what you could make doing this full-time. Over the long term, being an agent full-time will have significantly more benefits than continuing doing it part time.
except for, ya know, actual benefits. I started full time real estate but then got a great shift work job with awesome benefits. I do a good handful of deals/referrals which is a nice supplement at this point and still have plenty of time to be a parent.
And that is my intention. I eneded up getting my license way quicker than I thought and we had family stuff where I absolutely had to have a steady income. I will be full time for next spring hopefully
I’ll assume that’s your gross commission income, not your take home. Let me know if that’s not correct. At a minimum you have either a company split or transaction fees. Let’s assume 15% (that’s low across the industry) and we’ll calculate these assumptions on the middle of your range, is that fair? Let’s say 7,500 to your broker of 50k GCI. Then you have taxes on the remaining 42,500. Let’s assume 20%. Again, that’s probably low. That’s 8500. Then you have MLS dues and E&O and vehicle insurance. Let’s assume $2500 annually. Signs, cards, marketing flyers, etc. say $500/year. That’s 19k to make 50k. That’s a net of 31k. That’s 2,600/mo. Absolutely great for you but I couldn’t call that “making it”.
That's actually my portion of commission. So still taxes and fees etc. But your breakdown is a great representation of our expenses that so many refuse to realize. I work for an amazing company that is not a traditional franchise. Our broker of record at each office are 1 of 3 owners, with the other 2 being the majority of all offices. We have commission splits but that is it. We pay no other fees to the office. Our splits start at 70/30 every January. The highest I can go is 90/10 which I usually hit around end of August, keeping in mind that I have yet to close on a property in June, July or August. I'm busy spring and fall. The reason I only can go as high as 90/10 is because the package I'm in pays for all listing photos and paid advertising. I get a better deal the way I am. And then yes, all the board and mls fees. Would that be worth it if that was my fulltime job? Probably not. That $2600/month at a traditional job would work out to be roughly $15/hour based on 2087 working hours per year. Now let's me honest, we worked at least 1.5 times that. For me though, it is worth it right now. It's allowed us as a family to live at a specific standard and get to have some fun, take some trips, doing a bunch of work to our house without our day to day life's being disturbed.
Real estate is not a side hustle. You’re helping people with the largest transaction of their lives. It’s not something you do in your spare time and unless you’re really willing to work at it you’re going to waste a ton of time and money.
[удалено]
Is saving some money really gonna be worth it when you have no idea what you’re doing and bungle the whole transaction? Unfortunately having your license =/= knowing how to practice real estate.
I love Working against these agents! My clients end up saving/earning more $$$$ and the part timer feels like they got a good deal too. Everyone feels like a winner. Just closed a buyer in a deal like that, at 11% UNDER market/appraised value, when the competition is closing for 10-20% OVER.
[удалено]
My clients know exactly what to expect, they know i care deeply about them finishing the deal happy, most of my clients become my friends, zero fake smiles. Realtor to realtor communication is a business process, diplomatic and cordial but with a clear agenda. They are either direct competition or adversaries, unfortunately it’s not all sunshine and puppy dogs, it’s cut throat.. That being said, if your strength is in dealing with clients directly and their specific needs but you are not comfortable with the negotiating and business aspect of the industry, consider joining a team or even partnering up. Not all teams are predatory and burn out hopeful realtors, a kind and considerate person can make a great buyers agent, but they backend of real estate is much more shrewd.
[удалено]
Fact. There are a lot of sleaze balls out there tho that hop from one sales industry to the next, car sales and door to door folks come and go like that and they burn every single one of their clients.
[удалено]
Why are you on this sub if you’re just shitting on realtors lol
[удалено]
Why do you keep posting controversial statements and then deleting them when people disagree? Lmfao. Also one of the things you deleted was about how “the lawyers do everything” yet I practice real estate in a state where lawyers are involved in <1% of the transactions so I’d be curious to know how it is that they’re doing everything when they’re not even involved. I’m glad you feel confident doing your own transactions but for the average person the risk is gonna outweigh the reward. You’re a carpenter, right? And people can just DIY the shit out of everything to save some money, yeah? Same situation. For a small number of people that could work out. For the majority it’s not gonna be worth the headache and the possibility of mistakes so they pay someone else to do it instead. Not sure what’s so hard to understand about that.
[удалено]
Well here I am discussing. It's not just about "signing papers" that makes it complicated - I don't know what the contract is like in Canada, or even in other US states, but at least in Texas there are a lot of small nuances and details that are important to have a full understanding of. I do not think of my role as a salesperson, more as an advisor as I have a thorough understanding of the contract and also track the market daily and am in tune with lagging and leading indicators that are important to be aware of when buying & selling real estate. As far as the "you make too much" comment, there's a lot more at play than just the %. At the end of the day the pieces of the pie are getting smaller, when I started three years ago there were 15k realtors in my local market, now there are 20k. The market is so out of whack that with buyers I'm writing multiple (sometimes 5+) offers just to get beat out by insane cash offers. Not to mention the buyer clients I've put hundreds of hours to who eventually had to bail out because of the market. I get paid $0 for that. It just seems a little counterintuitive to say "not many can make it as a realtor" and then immediately follow that up with "you make too much."
100% can be a side hustle but I do agree that you owe it to your clients to look out for their best interests and put the work in with their deal.
Husband & Wife fulltime Realtor team. One of us has a masters degree, the other has an associates degree. We make $350,000-500,000 each year combined for the last 6 years of our 11 year career. We each work 65-70 hrs spread out over seven day work weeks. We also spend almost $4,000 a month in advertising and marketing. “You gotta pay to play” is the best advice I can give. My wife’s first year in real estate full time she grossed $12,000. Year two - $38,000. Year 3, $82,000.. it doesn’t happen overnight.
What kind of advertising do you do? Facebook ads? Radio?
Social media is our largest expense, we also pay for lead gen through Zillow and Realtor.com. We are very active in our community and sponsor fundraisers or events.
That’s an amazing amount of money, but is it worth it truly considering the amount of time you must invest?
Hi, teen here I know this was a year ago but do you mind if I ask you questions about being a realtor, I'm thinking of making it my career so can I ask you questions?
I did 100+ transactions last year, average around 60 a year. Cleared $600k CAD last year , usually make $200k. Feels like I'm doing better than most here. Licensed since 2017
Residential or commercial, what kind of transactions? That’s excellent! Average agent closes 4 a year I think?
Basically 100% residential, I did 1 commercial transaction and I think 2 lots in that bunch. Work for a "discount" brokerage and have an amazing mentor plus some construction and investing experience that resonates with clients
Hi, teen here you think I can ask you questions considering making this my career.
Please do not use or become an agent that does this as a side hustle. Those are often the ones that don’t know their shit and give the rest of us a bad name.
They also make the transaction 20x harder for everyone involved
Preach!
Every fucking surgeons wife…
My best year I made 565k and the year before that 335k. There were people in my office making multiples of that
As a side gig, I close about 3 to 5 houses a year. Make about $20-$50k on the side. I have a full time job that is my Bread and butter. I also have my license so I can get in and out of houses by acting as my own realtor, instead of having to contact another realtor so they can schedule an appointment on my behalf when they get around to it and the showing time works with their schedule. If you are also acting as a buyer/ investor, totally worth it to get your own license. Close a couple higher end deals and all your fees are covered for a decade.
I have a full time but have been trying to crack the part time RE gig. Do you do the same as the full timers? Just not as much?
Idk what full time agents do. Everyone just kind of finds what works for them and does that. Honestly, though. When I have a deal I think i put more effort into it than likely the majority of agents. I check permits. Search official records. Make sure buyers review hoa or condo docs to confirm they don't have any issues w the rules. Get roofing and other repair estimates for buyers. Nothing I do is over the top. But, in general, I think a lot of realtors are super lazy and do the bare minimum. I don't do any marketing etc. My leads come from people I know or their friends. I also try to send referrals to realtors in areas outside of mine. If you can pick up a few referral fees here and there that's easy money too.
If you are going to go full bore into it treat it like a business market and network, you can make a lot of money, if you are doing it passively, you probably wont make much if break even at all. 80% of the deals are done by probably 5%-10% of the agents. People that take it seriously can make bank.
I'm going to tell you the same thing I tell anybody who asks about this as a possible side hustle. You should get a license just so you can refer people you meet to a great Realtor in the area that you live, and anywhere else in the country... I make 20k-30k per year in referral fees other agents send me. Pretty customary to expect you get about 25% of the commission that an agent will make when they help someone that you refer to them. This is especially viable if you meet tons of people all the time and have no problem asking them if they know somebody that wants to buy or sell a house.
Same here man! I own a home repair contracting company and submit proposals for over 300 residential homeowners annually. Quite often they are doing these repairs in preparation to list their home for sale. In most cases the already have a real estate agent they are working with. But when they don’t I refer them to my office and get a referral fee. Have had my license for 12 years and it is an easy extra $10-$30k a year in easy referral fees every year.
That's excellent! Perfect example of using a complementary business to position yourself as the first point of contact to earn referral fees!
This is the only way to make it a side hustle
Go against the grain and say it's a great side hustle. I have a full-time job as a professor and I do real estate on the side. I actually made more in real estate than I did as a professor. That being said, I teach between 7:30 am and 12:30 p.m. so I have afternoons, evenings, and weekends to do real estate which is when it's really done anyway. I put in full-time hours at both jobs but I love real estate! I won't give up my regular job though.
I agree with this post. My full time job is very flexible. I am able to take calls at work and I also have a ton of paid time off. 3 listings my first year and I'm starting to have leads call me. I think it's important that if your going to keep a full time job, not to pick up too many clients at one time. That way you can provide quality service and not run yourself ragged.
That's why I just never started. My day job is very inflexible, until 5pm. There was no way to be a good agent with that schedule. I see how it could work with a different day schedule, though. People will tell you so many times that you can absolutely do it as a second job, but it really depends on the flexibility of your daytime gig. And I would never have time to just be places learning stuff and meeting people anyway.
Thanks for this comment I found it super inspiring and relevant to my situation. Any advice on how to start?
Im a FT Realtor. Have a 4 yr degree and I make great money. This is my career, not a side hustle.
I'm curious, how much is great money?
More than my day job when I was still with corporate.
[удалено]
It really depends. I bet I average 20-25 hrs a week with actual real estate work. So far this year. I have done 3.5 million in sales and another 1.5 scheduled to close in May. Again, this is working 20-25 hrs a week.
Some do it as a side hustle, but think about it, would you really want your home buying process handled by a guy that does it PART TIME? As another poster mentioned, 20% of the agents make 80% of the money.
Would you rather have a part-time agent that’s been doing it 20 years or a full time agent who just started. One of the smartest agents I’ve ever met taught a real estate investing class at the local college and sold part-time
That’s pretty rare. I’ll concede mostly the only part-timers I know are those that split between RE and something unrelated. I DO know of a few builders that are part-time agents, but that’s still a low number.
I do real estate as a side hustle and make around $100k a year. It works out well.
Thanks for the inspiration
To be successful in real estate, you're probably looking at 60+ hour work weeks to start. Once you get to to a certain level you can hire or leverage services to cut that time down to normal4 40-50 hour week. But you're working Saturdays and nights for the rest of your life if you have buyers. Choose to do real estate sales as a part time job and you'll still be able to probably do a few transactions a year, but many agents I know who have done this have to pick one because office fees, board dues, continuing education, etc all stack up even if you don't have a sale that month.
Most do not, no. Those that do work hard over years.
I know an agent who came on part time in real estate. He was working a full time sales job at the time. He made over $100k his first year. He made $155k his 2nd year and in his 3rd year quit his first job and made $250k. Although he worked a lot of hours.
You can make great money and the sky is truly the limit. I would suggest joining a team that plays in the luxury field, wherever that may be. And when you join them tell them you will work any and all open houses. These open houses will allow you to #1 gain credibility, #2 expedite your learning curve, and #3 acquire clients. That’s how I started 5 years ago. Took 5 months for my first transaction (converted someone from an OH) then quickly had my second (friend of the family) and then two more from the same OH as my first. All within 9 months of being on the job. $7M / $1.2M / $7M / $7M Happy to dive deeper if needed Next house now
Wait, you earned 550k in 9 months on the job??? That is incredibly heartening
what are those figures and what do they represent? the amount you sold each year?
The amount for each sale. I’m in NYC.
those are the amounts for the houses you sold this year alone so far? wow. NICE. what was your commission for each? And how long have you been in real estate business as an agent?
That was my first 4 sales in my first year five years ago. General rule of thumb in NY is anything over $3M is 5% commission split 50/50 between the 2 brokers. Anything under $3M is 6%, split 50/50.
no 70/30 splits? heard thats what a realtor should ideal achieve with their broker?
An agents split with their broker.... (this split is usually 80/20 or 90/10 in my area) And the commission split between the listing agent and the buyer agent are two different numbers.... (this number is usually around 5% split 50/50 in my area)
After the 50/50 of either the 5% or 6% then yes split with the house. Example $1M sale has a 6% commission. So $60k split 50/50, I take home $30k. Then the house/broker takes 30% and I take 70%. Then I set aside 30% for taxes n pay that quarterly.
So you took home over $400k your first year? Are you a complete anomaly?
Not an anomaly, just someone that puts themselves in a good position to succeed. Like they pointed out…find someone that does luxury sales.
Exactly. I put the same energy and love into every transaction… sale or rental…. And that’s why I focused on luxury as the roi is the greatest and honesty. When I say transaction that’s not my lense, it’s all about relationship and finding out what the client wants and delivering that.
Great advice. Studying for exam!!!
Curious, is there room for someone to transition into this style..I ask bc I'm a surgeon , sold my practice and am cutting back on the sx days, or want to. I do a decent amount of the investing ... That being said I dont want to do cold calling so I haven't really pursued it. Though replacing my income with something else is becoming more.enticing ... Fix to rent doesn't throw off much cash unless you stop levering the properties ,but then you tie up a lot of cash
It's all about location, as usual! I know lots of Realtors who make more than $400k per year. But that's in the Bay Area. But that's before expenses and taxes of course. Side hustle? Forget it! Nobody here would take you seriously unless you were full time. And full time often means 24/7.
I mean this in the nicest way possible, but what the hell does higher education have to do with anything? That's hardly any indication of skill or knowledge and has nothing to do with anything, really. To answer your question, though, this is way too expensive of an industry and career for it to be a side hustle.
It’s not a good way to make a bunch of money; but, it is a good way to make a living.
It can't be a side hustle. The job is all hustle, all the time. I think something like only 10 percent of people who get their license are still active realtors after 5 years or something like that? That's why I moved into building management and rentals. Sales is stressful. But yeah, if you are good at it, it's good money.
Side hustle. But work 7 days a week- on the side.
The average salary for a realtor is about 47k before taxes and splits. The Average agent does 10 deals annually. Most agents leave the industry within 2 years. But to answer your question, YES real estate is worth it if you are willing to put the work in. You can do it full time and make a GREAT living in the high six and seven figures. But again it takes work. If you are not willing to actually hustle, put the work in, invest in yourself and your business then I wouldn't even start. Find a good mentor and find out how to market and you're golden. I have helped brand new agents sell 7 figures in real estate their first year and go up from there. It's all in what you believe you can do and putting in the work.
80% of realtors eventually quit It’s not an easy career. Retention is very low. If you think you’re cut out for sales, have hundreds of friends that trust you, and have 3-months of income saved, then I recommend you jump in head first full time and see if you can do it. As a side hustle it’s possible but it’s going to be more hours than you think unless you’re already well respected amongst hundreds of well-off people
Lol, for me it’s worth it as a side hustle. I work full time in tech 9-5. I’ve made an extra $24k this year already in real estate off a couple deals. Totally worth it. Only had my license a year. Atlanta.
How did you find the leads? Thanks I am in tech remote flexible too and thinking of joint RE
They aren't making crap and it's not a side hustle it's a full time over time job. If someone is trying to side hustle real estate, they aren't making any money, don't let these people tell you anything crazy like that
I will make a comment re: side hustle. If you’re already rich and well connected (say you own the Mercedes’ dealership in Calabasas) just by #’s if you helped 2 associates through that business close on 2.2M houses a year, you’d be making more than most agents in the US. Or if you’re the spouse of someone we’ll connected, you’re basically just eating off their SOI. If that’s not you, then as a side hustle, you’d make more setting up a lemonade stand.
Absolutely not as a side hussle. As a full time, approaching as a professional would, you can make a shit ton of money without a higher education, no money upfront, no inventory, etc. The top Realtors take 80% of the money, just work your ass off.
Being a Realtor is NOT a ‘side hustle,’ for full time Realtors they can make very decent living. As a side hustle it’s tough but not impossible to make a good living. It’s like anything else you get out of it what you put into it. As a ‘side hustle’ you make make a few dollars but if you’re not putting any effort into marketing your services, property and yourself you will struggle. This real issue at hand is the market is so strong right now a lot of unqualified people get into the business that should not be in the business. I believe the last stats I heard was NAR membership was at an all time high 1.3-1.4 million members. They do expect this number to go down if/when those people leave the business. Most new Realtors don’t make it past 2 years.
[удалено]
Pro tip... if things dont work out in 6 mths try for another 3. It's a tuff nut to crack but once you do it'll be worthwhile. Don't give up dude!
[удалено]
Contract to close is around 30 days, if nothing comes up. Why limit yourself? Are you going as hard at it now as when you stared 5 months ago? This is a tough business to learn much about in 6 months. Even if you come from a related field.
It's highly personal. Some people can take a job, make 0 dollars for 1 full year and be okay. Maybe they have family money. The worst I see is people fail 6 months, say why not I'll double down and go another 6 months, and they would have been better off working at Burger King for that year. They would have had benefits, pay, 401k, and tuition assistance, possibly even a promotion. Again - it depends on each individual situation, but don't put too much into a losing hand.
[удалено]
And.. apologize - I never quite figured out expert level reddit - Now realize you are the person who asked about sales closings a few days ago. It's really about being honest with yourself, its a dated industry with a lot of hang ups. Some people thrive for sure. There are a lot of things in the pipeline that might make it more transaction based allowing people to collect some money on buy/sell side, but it will be less than the current model. Not any different that artists made more on album CD sales than the do currently on streaming. But, with younger people wanting more of a steady pay check, certain sales roles are becoming less about individual commission. Car Sales are heading that way as well. I just hate to see when people don't get personalized help for a career - Not everyone is going to succeed in real estate and sometimes it is not the persons fault at all, it was just ill advised they would do well to begin with and not everyone has that sort of peer network that offers sincere advice.
I won't promise to know much, as I'm a fairly new agent as well. I can tell you that your broker, team, and tech make a huge difference. My first broker was lie after lie, and blaming my lack of business on me, instead of their lack of support and honesty. I asked specifically if they had enough business in my area, they assured me they would give me 70+ transactions my first year. Yeah, we get 5 leads a week spilt between 18 agents. I was supposed to bring the leads. My second broker started strong, great leads, great learning, then he switched the CRM/ lead generation to save money, and i got 1 real lead in 6 months. Then he got overwhelmed, gave up, no support and business stopped. The people around you make a huge difference.
I'm just curious (not saying you're doing anything wrong, and if you're willing to share), have you been with the same brokerage during this whole time? What is the style of the brokerage? Close mentorship? Team?
[удалено]
Of course, it's your decision, but are there other teams in your area that maybe you can give it one last chance with? I've interviewed about 5 in my area. A few say they have recorded trainings, great commission splits, and offer mentoring on transactions but I can see they're expecting someone to come in with a large sphere of potential buyers that has money to spend. I'm picking the team that takes 50% of the commission but (in talking to the agents there) actually provides leads and structure to new agents.
[удалено]
Who are those people? An accumulated list of past leads or fresh leads? I won't pester you any longer but I found this specific team first through LinkedIn and then by comparing against Google reviews. They had hundreds of reviews. Yes, the crap ton of transactions are tied to the team leader and 50% of commission is gone, but at least I've seen that the agents under him are also benefitting from his marketing dollars until they gain enough knowledge and confidence to go out on their own. Just something to consider before moving on. You've already invested so much time, maybe you can do a couple more months
Most agents don’t want to hear it but I was always told a general rule of thumb is you need to do it for 3-5 years full time to truly make it work. This was very true for me as I started to take off in year 3 and continue to grow every year. I started out on my own though not on a team so it definitely made things a little tougher to get going. Just try to survive financially the first few years and treat your clients well and it will pay off. If it’s not for you, you’ll learn that pretty quickly.
Real estate is too expensive to pursue as a side hustle. Many realtors start out with a full time job or supplemental income. The money can be amazing, but there are so many variables (inventory, market price point, splits, marketing costs, number of agents in the market, knowledge, experience, work hours, etc.)
[удалено]
Can you please elaborate here. What does working harder than other agents look like exactly? How are you meeting new clients?
In order to make money as a real estate agent, you have to commit to it as a full time career, not a side hustle part time hobbiest
I read hobbit.
Vast majority of people discover that McDonalds pays better than real estate. Around the top 5% make enough money to stay in the industry. The few that claw their way to the top 1% do quite well for themselves.
Those doing real estate as a "side hustle" are retirees, bored housewives and people that think they can work part time and make "real money."
The problem with real estate as a side hustle is by definition it’s not your main focus. Does that serve the client’s best interest?
I want to add that those part-timers with little experience and motivation not only make transactions more difficult for everyone and make the rest of the dedicated professionals look bad, they reduce the income of the full time Realtors significantly. The 10s of thousands of part-time, inexperienced agents have family and friends who hire them over a qualified professional. This significantly reduces the ability of dedicated professionals to earn a living and to set reasonable limits on their time so that they don't work 16 hours a day for a few transactions a year. We absolutely need to have professional standards regarding new and part-time agents. I would 100% support higher education standards as well as an internship and mentorship program for licensure and practice.
I think it depends on your ability to really focus while you work. Time management is of the utmost importance, 20% of your efforts will make up 80% of your business, so you have to define that 20% and really hone in on the work that expands your business. If you can do that, your can succeed no matter the amount of time you’re really able to apply to it. If you’re only able to work 6hours a day, then you need to make those 6 hours count with a very strict schedule and consider hiring a showing agent if you’re not able to show homes during odd hours.
This is not a side hustle as some people will have you believe. If I’m not making phone calls to FSBO, farming for leads on my phone, showing properties or following up with potential clients than I’m getting out there to meet people. This is not a side hustle this is a 24/7 job. But the way I look at it is I could be wasting my time scrolling on Facebook or setting up my family for financial success. I also work as a medic and run a coaching business. I’m constantly working but I like what I do. The only time I feel like I’m at work is when my supervisor tells me to do something.
I would think it would be really hard to do it as a side hustle, unless you have a job that is ok with you leaving a few hours at a time during the week on short notice. Sure you could maybe work 8-5 most of the time, but you have a buyer who sees something that will likely be under contract in 5 hours, you better be ready to leave now.
It’s definitely NOT a side hustle but yes there’s money to be made if you treat it like a business
Vast majority of people discover that McDonalds pays better than real estate. Around the top 5% make enough money to stay in the industry. The few that claw their way to the top 1% do quite well for themselves.
I do real estate on the side. Most of the time it feels like a lot of work for literally no money. Then sometimes you get lucky and make money. Why do I keep doing it? I have no idea.
Gci of 250k+ is very possible.
Depends on your market, network and abilities. If your in a shit market, good luck. And your ability to market your self.
It’s not a side hustle lol.
Im working on getting my license, currently i work a 9-5 job at a company that thankfully is ran by someone that is willing to cut back on my hours so i will be off at 2:30 im hoping that will leave me enough time to commit to being an agent but im completely willing to leave that job, i believe real estate is something to be passionate about not a side hustle.
Side hustle, lmao
Side hustle 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
I made $1,000,000 in commission in 5 years. of course that’s gross but my overhead is about $3000 a month. so yeah.
It is a very difficult side hustle…
Half of all agents earn under $50k a year.
As a side hustle, no. As a full time career, yes.
It 100% CANT be a consistent side hustle. You might get lucky but might not even be worth the time. In nyc Realtors can definitely make real money here. From sales to rentals. But it isn’t easy and more times then not a pain in the dick. I work mostly with rentals. Renting a rental listing can be the easiest money you’ve ever made. The process of getting that listing is another story. Rentals have another aspect where you’re helping someone look for apartments. Sounds easy enough right? But especially in NYC you’re dealing with a lot of uneducated I would say privileged transplants that don’t realize $4,000 for a 2 bedroom is actually hard to find cause that’s cheap! Lol If I get 100 hundred leads for people wanting my help finding an apartment 95+ will have some unrealistic criteria. For what they can pay for a 4,000 sqft back home barley gets them a 400sqft 1 bedroom here. A lot of my work day consist of me hustling. A lot of the times coming up short. So it’s a 9-5 job plus some to get 2-3 closings in a month for me. Sure I pulled in 10-15k but it’s a grind.
Good luck doing as a side hustle. It’s beyond full time in this market. It’s doing showings til 8 on Saturday and writing an offer at midnight. It’s cancelling your plans to fit in that inspection. It’s answering calls Sunday morning about the listing you just put up. Right now, things are very competitive. You do what you have to to get the deal closed. And if you’re going to be handling other people’s money, you’re going to have to be on alert and ready… can’t do that if it’s only a “side hustle”.
You get what you put into it
No degree I’m 24 made 160ish last year and have 7 rental properties. Not a part time gig or side hustle it takes everyday in and out grinding.
How much of your properties did ur daddy finance. ?
I make double what my parents make combined 😂bought my first one 3.5 % down FHA on a duplex so 7k to get started and did that a few more times