If you’re thinking about taking on real estate as a side gig, you’re probably wondering what a part-time real estate agent income is. Your projected earnings will obviously be a significant deciding factor in your decision to start a real estate career.
How much you earn as a part-time real estate agent can depend on some factors, not just the hours that you work. However, there is some research that will give you a general idea of what you can expect to earn if you decide to pursue real estate part-time that you can use to plan.
Part-time real estate agent income
In our recent survey of real estate agents across the country, we discovered, perhaps unsurprisingly, that agents who work more extended hours tend to earn more than those who don’t. Agents who work less than 20 hours a week earn an average of $24,566 a year, while agents who work between 21 and 40 hours a week — still part-time — earn an average of $46,458 a year.
If you’re looking for supplemental income, or for a job that will help you pay the bills while still providing flexibility, it’s possible that you could earn enough for your budget with a side gig as a part-time real estate agent. However, the number of hours you work isn’t the only factor in how much money you make.
FREE Guide: Earn more with our 2019-2020 Real Estate Agent Income Guide.
Other factors that impact real estate agent income
Our same survey revealed numerous other factors that influence how much you can earn as a real estate agent.
1. Your market
The stronger your market, the more likely it is that you’ll make top dollar as a part-time real estate agent. Based on our latest survey, we found that the state with the highest average real estate agent income was Maine. There, the average income for a full-time real estate agent is over $150,000. You can check out the top ten list of states to see where yours falls on the list.
2. How happy you are
It’s true — your happiness can play a significant role in how much you earn. Our survey found that agents who are satisfied with their jobs earn about 3 times more than others.
That’s why it’s important for real estate agents to watch out for burnout. Sometimes, all it takes are continued and positive mental habits to turn your satisfaction levels around.
3. Your niche
It goes without saying that your niche can have a significant impact on your earnings, but are you aware to what extent? Our survey asked real estate agents in 12 different specialties to reveal their earnings. As a part-time real estate agent, choosing a niche could have an even greater impact on your earnings since you won’t be putting in as much time as agents who work 40 hours or more a week. If you’re looking for maximum impact for your time, think strategically about your niche before you commit to it.
4. Professional development
Agents who invest in professional development opportunities earn nearly $50,000 more than agents who are failing in this area. There’s no shortage of ways to increase your real estate expertise. From online professional development courses to in-person conferences, there’s always something new to learn.
5. How long you’ve been in real estate
Gaining momentum in real estate takes time, and as a part-time real estate agent your initial income might be sparse, but our research indicates that agents see significant and consistent gains in their pay the longer they stay in the business.
Is a part-time real estate career right for you?
Knowing how much money you’ll make as a part-time real estate agent can be essential in discovering if it’s a path you want to pursue. If you’re looking for a side gig in real estate or a way to keep busy without committing to a full-time career, you might find fulfillment in being your own boss and helping people find their dream homes — which is something every real estate agent gets to experience.