Spending every day at the same 9-5 can be exhausting on an emotional level. You work hard every day and yet your pay stays the same. Moving forward tends to happen at a slow rate.
That's why about 37% of Americans have a side gig. Having an extra job gives you more earning potential and helps you feel like you're taking a more active role in your success.
The challenge is finding a side hustle that has the flexibility you need. It doesn't get much better than real estate. If you're looking for an extra job, here's why you should consider making money in real estate.
The Benefits of Making Money in Real Estate
You should have high standards for your side hustle. It needs to have solid earning potential without feeling like a mind-numbing chore. Check out these perks of making money in real estate.
You Can Set Your Own Hours
One of the biggest challenges for people with multiple jobs is balancing the two. If you have a manager setting your hours, it's a constant struggle to make sure your side gig doesn't interfere with your full-time job.
With real estate, you can set your own hours so you don't have that problem. You'll spend much of your time in meetings, and you can set those meetings for days and times that work with your schedule.
You Control Your Income Potential
Real estate is one of those jobs in which you get out of it what you put into it. You can determine how much time you spend, so you're setting your own income goals.
Real estate runs the gamut of income levels. On average, real estate agents make around $47,000 per year. If you're only putting in a few hours here and there, though, you might only make a few thousand dollars.
At the other end of the spectrum, luxury agents in expensive markets can make millions each year. It's all up to you and how much time you want to invest.
It's a Learning Process
One of the perks real estate agents enjoy most is all the knowledge they gain. Real estate gives you an insight into your local economy.
It also lets you learn valuable information about homes and how they work, especially if you're a homeowner or if you plan to be. You might even find that you have a flair for interior decorating and find your way to another passion.
If your full-time job relates to sales or customer service, that's another benefit of real estate. Your side gig will help you hone your communication and sales skills so you can perform better at your 9-5.
There's a Relatively Easy Entry
It might not be as easy as becoming a rideshare driver. When it comes to jobs that have serious earning potential, though, real estate is on the more manageable side.
Every state has different requirements you'll need to get a real estate license. In most cases, you'll need to take about 60-90 hours worth of classes about real estate.
While that might sound time-consuming, there are countless programs that offer these classes online. When you've completed these requirements, there's a licensing exam to take.
After you pass your exam, you send in your state license application and you'll be ready to hit the pavement in no time.
You Control Your Own Commute
If you live in an urban or suburban area, chances are that you're not looking to spend more time in your car. Some people with multiple jobs spend hours every day driving to, from, and between jobs.
With real estate, you can control where you go. You might limit your listings to a certain area or a certain distance. Outside of showings, you can also do most or all of your work from home.
It's Easy to Start and Stop
As much as you want to hustle, sometimes life demands that we take a break. With real estate, depending on the deal you have with your broker, it's easy to take a break for a few months.
Real estate is also an easy career to come back to after a long break. For instance, some parents stop working while their kids are little. Six years later when the kids are in school every day, they can jump back into real estate as long as they've kept their license up to date.
You Can Be Your Own Agent
Most of us will need a real estate agent at some point in our lives. When you do, the fees and commissions can be expensive.
If you're your own agent, though, you can represent yourself and skip that expense. Whether you're selling the home you bought or a house you inherited, learn more about putting it on the market and getting a great price for it.
It Opens Doors
Real estate as a side hustle is a gateway job. It might start as a way to earn extra money, but it can open the door to far more opportunities than you expect.
For many people, selling real estate on the side gives them time to build their reputation. When word starts to get around, they acquire more and more clients. Eventually, they can leave a 9-5 they don't enjoy and focus on selling real estate, giving them a larger earning potential.
Real estate can also put you in touch with great contacts. Between your clients, your broker, and other agents, you'll be making money while you network. Depending on your desired field, those connections could help you get a better job down the line.
How to Get Started Selling Real Estate On the Side
There's no shortage of opportunities out there for a side gig. Why work fast food or pick up a custodial job when you could have a side gig that has so many other perks?
If it sounds like making money in real estate is the next great step in your career, the first step is researching your state's licensing requirements. If you're already licensed and you're ready to get selling, look for a real estate job.