Updated 3/20/20

Do Realtors dabble in side hustles?

Many agents ask the burning question which is how to make money as a real estate agent outside of closings?

A couple years ago I asked agents this very question and they answered! The real estate industry is challenging in the best of times.  As Realtors, we only control certain aspects of our job. Interest rates, market conditions and inventory, to name a few, are wildcards that affect our success. As of the last few weeks we are now coping with the coronavirus emergency, working from home and trying to figure out the next step.

The Answer

The answer is that there are many ways to have cash flow and side hustles some of which will work now and some that may work better in the future once we get through this national emergency. I found this to be so fascinating that I put together a FREE download for you that includes 40+ side gig ideas to get your creative juices flowing! 

With this in mind,  I posed two questions in one of my unscientific Facebook polls to those who share my profession:  “Do you have a side gig?  And, “If so, why?”  The responses were diverse, interesting and DEFINITELY worth sharing.  After all, nobody understands the life of a Realtor better than another Realtor.  Take a look at what I learned.

“Yes, I Have A Side Hustle!”

 

Side Hustles

Side Hustle Ideas

This response was popular; it seems as if many in our industry ARE involved other business ventures. That said, the reasons why varied.  In fact, the first person to respond to my question actually said “real estate is my side gig”.  

At first, this surprised me.  Then, I began to think. Perhaps this person works with a smaller client base?  Or, maybe puts in less hours each week? What if he/she is new to the industry? One thing the real estate industry can provide is flexibility. While your schedule may not be the perfect fit for everyone; it will work for someone.

40+ Side Hustles For Real Estate Agents Click Here to Get The List! 

Cool Gigs

Many real estate agents shared that they either currently have a side gig, or did at one point-in-time.  For example, one person posted that while he does not need one anymore, “in the mid-late 2000’s he used to valet/bellhop at a luxury hotel.  Helped him survive the recession!”  

Others believe in the value of diversifying, which is what many agents do especially in today’s real estate environment.  They don’t want to be solely reliant on a single income stream, especially one that is so market dependent.

Several agents who admitted they had side jobs were focused on earning an additional income for a variety of reasons.  One real estate agent makes some extra money as an Amazon shopper (perhaps I should consider this; I was an Amazon pro this past holiday season oh heck that is every week who am I kidding); others leverage their technology skills and teach people how to use social media. I even learned of a real estate agent who is a crypto investor and one who is also a tax accountant. Wow!

Less surprisingly, a few who answered my question shared that they are either Uber or Lyft drivers; they have adopted a second job where they can control their working hours.  

Along the same lines are agents bar tend…lets face it cash flow is good and you can network with your happy hour constituents! One agent even admitted he sells a house or two out of the bar each month – amazing but not surprised!

Leveraging What You Know

Finally, several professionals are clearly leveraging their real estate experience for their side gigs. Their jobs include house flipping and appraisals.  One woman even teaches real estate pre-licensing classes and does some insurance auditing. She shared that “keeping busy makes me more productive and a better salesperson”.

While a few of the real estate agents shared that they were notaries; one person’s angle was particularly interesting. She is a mobile notary signing agent. She Works for title companies doing purchases, refis, and loan modifications. End of month (she works) at the builder doing their closings, it’s crazy busy. This has been her (my)  bread and butter for the last 17 yrs”.

There were a host of diverse side gigs discovered. Essential oil sales, web development, coaching, pub trivia ownership, insurance sales and home remodeling were all mentioned.  I even identified a few teachers.

Several agents also said they write blogs, perform stand-up comedy (real estate provides some good material) and teach exercise classes (which, apparently is a great network for referrals).  To be honest, the variety of jobs was very cool and gave me food for thought.

40+ Side Hustles For Real Estate Agents Click Here to Get The List! 

No Side Hustle For Me!

These responses were interesting as many who do not have side gigs are adamant about their decisions.  Consider this comment and the responses to it: “real estate and only real estate.” “best comment of the day!” “Love that Focus!”  Real estate agents can certainly be passionate!

Reasons Why Not

Another agent shared his belief that “most realtors that have a side job aren’t, nor will likely be, top producers which is why they need supplemental income.” While several agreed with this sentiment; it was met with some lively backlash.  One agent even responded: “Funny that you should say that considering how many articles have been written about having a side hustle as an entrepreneur. In fact, real estate was Barbara Corcoran’s side hustle. I think a true entrepreneur is someone who has multiple streams of income.”

Some agents voiced their concerns that those who don’t devote their full efforts and attention to real estate may be proving their clients a disservice.  Consider this “No judging, but the problem lies with the part time agent or RE side hustle selling 0-5 homes a year with very little to no knowledge or experience handling transactions (their clients) incorrectly or with lack of professionalism negatively affecting the industry as whole whether their intent is direct or indirect.”  This was not a singular concern: It’s not fair to the consumer or general public who often hire these folks, at the same cost, most times, as a an experienced broker…not only does it negatively affect their own clients but it does the same to other industry professionals and their clients on the other end. Just my 2 cents though…..”

Lessons Learned

The posts in response to my question surprised me, not because of the differing beliefs, but because of incredibly strong opinions on both sides of the aisle.  Solid arguments were made for both trains of thought.

My Two-Cents

While many of you may not know this,  I began my real estate career part-time, while I was working as a pharmaceutical rep.  I had great benefits, a car and a good salary. My time was my own so it was easy to “do” real estate at the same time which helpedme ease into the business.  

Today, I am a full time solo Realtor that loves to write, vlog, podcast and speak on real estate topics, midlife and my community. This has helped me grow my real estate business by the way via personal branding. I am a creative at heart and started a blog in 2017 called #SoooBoca Lifestyle and Media that focuses on Boca Raton, South Florida and Beyond! It has just a tiny dash of real estate on it (for cross pollination purposes) but the main focus is all about community and the South Florida lifestyle.

I have also started utilizing affiliate opportunities with products that I use regularly in my real estate business, in my everyday life and when I travel.

40+ Side Hustles For Real Estate Agents Click Here to Get The List! 

My final thought is this…whether you dedicate 100% of your time to real estate or you work in other lines of business, leverage everything you do to bring the best value to your clients in all of your pursuits.

Don’t judge another person’s reason for their side hustle situation as none of us walk in another’s shoes so remember that. Just be the best you can be in everything you do!

Do you have a unique side hustle? I would love to hear about it so drop me an email! I will update my list every few months!

If you like this please buzz by my other blog posts:

Finding Your Plan B

11 Things That Have Happened to Me Because I Said Yes! 

Links I Love and Recommend:

Buzzsprout Podcast Hosting

TubeBuddy

SEMRush

Liondesk CRM 

Planoly for Instagram

Have you subscribed yet to The Real Estate Influencer Buzz for a behind the scenes look at other influencers in and out of the real estate business!

DISCLOSURE: This article contains affiliate or sponsored information. This allows me to earn a small commission if you make a purchase through my affiliate/referral links. There are no guarantees made in the article in regard to making money with any job as each person and circumstance is unique. Please do your due diligence and consult with your attorney and financial professional that you work with.