Why Real Estate Can Be Your Perfect Side Hustle or Second Career

The real estate industry may be exactly what you need to add a little spice to your life. Being a real estate agent is hyper-flexible and a great money-maker, whether you're pursuing it as a second career or a profitable side hustle you work around your other commitments. Learn more about how you can be your own boss while leveraging your existing skills.

10 Reasons Why Real Estate is a Perfect Side Hustle

According to a recent Bankrate surveyNews Side Hustles Survey Credit Cards, 36% of adult Americans have a side hustle. The figures are even greater among younger generations with 44% of Millennials and 48% of Gen Zers maintaining a hustle. Hustling has become a critical component of making a living in the 2020s. 

And if you’re going to need a side hustle to make a good living, why not choose a fun, fulfilling, high-paying hustle that leverages your existing skills?

Here are 10 reasons why real estate is the perfect side hustle:

1. Flexibility. Need to work evenings and weekends so you don’t interrupt your 9-to-5? No problem! Need to be there for the kiddos before and after school? Totally doable. You can schedule showings and meetings around your existing schedule.

2. High-income potential. Even with part-time effortNational Real Estate Part Time Career Center, compensation from just a few deals can easily add up to tens of thousands of dollars since agents are typically paid a percentageNational How Does A Real Estate Agent Get Paid Career Center of the sales price. Use this cash to enhance your lifestyle, pay down debt, pad your retirement account, or save for something special.

3. No special degree required. You don’t need a college degreeNational Does Real Estate Agent Need A Degree Career Center to get a real estate license. Just complete your state-specific real estate course(s)Real Estate LicenseReal Estate License over a few months, and your educational requirement is met. 

4. Low startup cost. The cost of getting a real estate licenseNational Cost Getting Real Estate License Vs Going College Career Center varies widely by state but typically runs between $600 and $1,300. This covers your real estate course(s), exam fees, and license fees.

5. Leverage your existing skills. Whether learned in the workforce or managing a household, you probably already have real-estate-friendly skills10 Skills Successful Real Estate Agents Blog in areas like communication, negotiation, time management, networking, active listening, and problem-solving. 

6. Leverage your existing network. You can generate leadsGenerating Real Estate Leads First Year Blog and earn referrals5 Ways To Get Referrals Blog from your friends, extended family, general acquaintances, and even day-job colleagues without extensive marketing efforts.

7. Be your own boss. Do you feel like you’re always following someone else’s orders? In real estate, you’re empowered to make your own decisions and manage your business as you see fit (within legal and ethical boundaries, of course).   

8. Fun and fulfillment. Touring homes and meeting new people keeps things interesting. Plus, helping people find their dream home or sell their current house so they can start their next chapter is incredibly satisfying. 

9. Increased physical activity. If your day job has you chained to a desk, real estate as a side hustle could offer health benefits! You’ll be on your feet touring properties, showing homes, and maybe even hitting the pavement to promote yourself as a real estate professional (distributing flyers, introducing yourself to local business owners, or canvassing neighborhoods).

10. Stepping stone to a full-time career. You can gradually transition into real estateTransitioning Real Estate Career Step Step Blog full-time if it becomes more lucrative or appealing than your primary job. This is also ideal for parents looking to build their careers5 Reasons Real Estate Strong Career For Parents Blog as the kids grow more independent.

Making the Most of Your Real Estate Side Hustle 

Establishing a successful real estate side hustle requires a bit of planning. Here are some actionable tips to help you in this adventure:

• Choose a side hustle-friendly brokerage. Not all brokeragesNational Vs Boutique Vs Virtual Brokerages Which Is Right For You Blog are open to part-time agents, so you might have to look a little deeper to find one who will support you as a side hustler. Also, make sure your agent takes a share of your compensation instead of charging monthly fees.

• Establish clear boundaries. To avoid having real estate encroach on your day job or vice versa, set boundaries for yourself and explain those boundaries to your family, co-workers, and clients. 

• Target a niche market. Focus on a specific nicheNational Which Type Of Real Estate Agent Should You Be Career Center, like rural properties or investment properties, that aligns with your availability and expertise. Specializing helps you market more efficiently with less time and money.

• Partner with other agents. Join full-time real estate agents or even established real estate teams to co-list properties or split responsibilities like showings and open houses. This allows you to handle more transactions without overloading your schedule.

• Focus on sellers instead of buyers. Working with sellersNational 5 Reasons To Focus On Sellers Instead Of Buyers Career Center gives you more control over your schedule and typically requires less of your time than working with buyers. Plus, listings generate leads automatically because buyers will contact you to inquire about your listings!

• Outsource administrative tasks. Delegate administrative work, such as preparing documents, social media posting, or scheduling, to a virtual assistant so you can focus your limited time on higher-value tasks like client meetings and negotiations. You might even leverage property technology (PropTech)Real Estate Agents Ultimate Guide Proptech Blog to automate some of your tasks.

• Under-promise and over-deliver. It's tempting to take on as many clients as possible, but remember, your time is already at a premium. You might want to limit yourself to two clients at a time to ensure you can give them the attention they deserve. 

Get Your License to Start Your Real Estate Side Hustle

Real estate offers a low-risk, high-reward profile that few other side hustles can match. And it may be easier than you think to get started! All you need is a real estate licenseHow To Get Your Real Estate License Real Estate License. 

Enroll in your online real estate course todayReal Estate LicenseReal Estate License to take the first step toward getting your license and launching your new real estate side hustle!