The Washington housing market is strong. The median sale price is $649,600, which is up 8.2% year-over-year (Redfin, December 2024). Even with the price increase, the number of homes sold has increased by 22.3% year-over-year. It’s a good time to be a real estate agent in Washington.
Some Washington residents are eager to take advantage of the booming market and are entering the field intending to use real estate as a part-time business or side hustle. You may be considering this yourself but wonder, “Can you do real estate part-time?” and “What is a part-time real estate agent salary in Washington?”
Keep reading as we explore real estate as a side gig in Washington.
Key Takeaways
- Factors like high-value neighborhoods, experience, networking, and time commitment significantly impact earnings.
- Effective time management, specializing in a niche market, leveraging technology, and utilizing brokerage resources are key to maximizing part-time income while balancing other commitments.
Average Salary Expectations for Part-Time Agents
According to ZipRecruiter, a part-time real estate agent working in Seattle earns an average income of $98,017.
The take-home message is this: there’s money to be made in real estate. Even if you only have a few hours each week to spend on your real estate business, real estate can be a great part-time gig.
How much do part-time real estate brokers make per sale in Washington?
Part-time real estate brokers typically earn a commission based on the sale price of a property. The percentage of the commission is negotiable, but according to FastExpert, the average real estate commission in Washington is 5.67%
According to Zillow, the average home value in Washington is currently $589,272. This means that the average commission for an average sale is $33,412 ($589,272 x 5.67%). The commission is typically divided among the buyer’s broker, the seller’s broker, and their brokerages.
Factors Influencing Part-Time Real Estate Income
Not every part-time broker earns these impressive commissions. Here are factors that determine a part-time real estate broker’s income.
- Location within Washington: Real estate brokers typically work on commissions based on the property’s sale price. So, it’s no surprise that selling in neighborhoods like Hunts Point or Medina would yield larger commission checks than other less expensive regions of the state.
- Experience and track record: A broker’s level of experience and proven success can lead to more client trust for more complicated or higher-value sales. Some brokers work toward their managing broker license as soon as they are able in order to draw in more lucrative commissions and alternative income streams.
- Networking and lead generation efforts: Building strong connections and generating quality leads are key to growing a client base and increasing earnings.
- Time commitment and flexibility: The more hours and flexibility a part-time broker can dedicate, the greater their potential to close deals and earn commissions.
- Market conditions in Washington: Local economic factors, such as housing demand and market stability, can significantly impact earning potential. Lucky for you, the housing market in Washington is strong.
Comparing Part-Time and Full-Time Real Estate Salaries
How much do full-time brokers make if a part-time real estate broker in Washington can earn $60,000 working less than 20 hours per week? According to the survey, the average full-time broker in Washington makes $150,000. Considering those stats, should you consider working in real estate full time? Here are the pros and cons of that decision.
Benefits of working in real estate full time
- Higher earning potential: With more time to dedicate to lead generation, networking, and client service, you can close more deals and earn more commissions.
- Faster career growth: Full-time dedication helps build industry knowledge, reputation, and skills faster.
- Client accessibility: Being available during business hours and beyond enhances client trust and satisfaction.
- Focus and consistency: A single career focus allows for clearer goal-setting and execution.
Benefits of working in real estate part-time
- Flexibility: Working part time allows for gradual entry into the industry without the pressure of full-time performance.
- Lower risk: Working part-time reduces your reliance on commission income, making it less stressful during slow market periods.
- Benefits: Keeping your full-time job may give you access to benefits such as health insurance and retirement, which full-time brokers must typically manage independently.
It’s worth noting that many brokers start working in real estate part time to test the waters before committing to the industry for full-time employment.
Case Studies: Real-World Earnings of Part-Time Brokers
Consider Shirley Kimmel, who was recently named a RISMedia Rookie of the Year award finalist. Kimmel had planned to work part-time in real estate while she spent the bulk of her time doing home renovations. However, she quickly discovered that she enjoyed her work as a real estate broker.
“And I thought, well, why would I do that part-time if I’m enjoying it so much? Let’s just go for it,” Kimmel said.
You, too, may have the same experience after earning your real estate broker license in Washington.
Tips for Maximizing Income as a Part-Time Broker
How do part-time real estate brokers earn such an impressive income? Here are a few actionable strategies to consider to maximize how much you make as a broker.
1. Utilize effective time management strategies
You need to maximize your time if you only have a few hours a day to work on your real estate business.
First, consider how you can free up more time for your real estate business by saving time in your personal schedule. For example, consider hiring a house cleaner or using a grocery delivery service to keep your household running while you build your real estate network.
Use tools like task management apps and scheduling software to organize your day. Prioritize high-impact activities like client follow-ups, lead generation, and showings during your available hours. Batch similar tasks together to work more efficiently and set boundaries to avoid burnout.
2. Build a strong client base through referrals and networking
Always be networking! Word-of-mouth referrals are key to growing your business. Tell your network about your real estate career and ask satisfied clients to recommend you to friends and family. Attend local events, join community organizations, and use social media to expand your reach.
3. Specialize in a niche to stand out
Position yourself as an expert in a specific area or type of real estate, such as first-time homebuyers, rental properties, or luxury homes. Specialization helps you build a unique brand, making it easier to attract clients who need your expertise. A focused approach can save time and increase your chances of closing deals.
4. Leverage technology
Technology can be your best friend when time is limited. Use CRM (Customer Relationship Management) tools to track leads and stay organized. Automate emails, social media posts, and ads to maximize your reach without constant manual effort.
5. Hire a freelancer
Hiring staff may not be feasible when you are just getting started. However, some real estate professionals utilize affordable freelancers to help with social media posts, email campaigns, and scheduling.
6. Utilize all the resources your brokerage offers
Your brokerage wants you to succeed, so many offer their brokers tools, resources, and training. Take advantage of the resources your brokerage offers.
By implementing these strategies, part-time brokers can maximize their productivity and income, proving that part-time commitment doesn’t mean less financial success.
Are you excited by the prospect of earning an extra $8,168 per month with your real estate side gig? You can’t earn any commission until you get licensed. Start your pre-licensing coursework today with Rockwell Institute. Rockwell has been a leading choice among Washington brokers since 1974. We offer in-person, livestream, or at-your-own-pace online courses. Get started on your part-time real estate career today with Rockwell!
