5 Part-Time Real Estate Jobs

Regardless of the economy, the real estate industry will always be in demand.

In times like these, it’s important to diversify and explore new options in the industry.

Real estate is great because there’s so many aspects of it.

Here’s a short list of part-time real estate jobs that you can do right now. Mind you, although these are mentioned as “part-time jobs” many people do this full-time.

The more work you put into something, the more you’ll get out of it. Let’s take a look:

1. Notary Public

Generally, people perform notary services as a small part of their regular job. Full-time work can be at banks, title companies, real estate companies, law firms, or contracting firms.

Notaries are used to “notarize” or verify documents. A notary will be present with the party that is signing the document, confirming that they’re signing on their own free will. It’s to ensure that processes are done fairy and to prevent fraud. Notaries can be self-employed as they are mobile and can show up at real estate closings. Being a notary isn’t a high volume business, so it probably won’t be enough to retire on. However, you must meet a few guidelines:

·      Be 18 years or old

·      Be a legal resident of the State of Texas

·      Have no criminal convictions or felonies

·      Provide a 4-year $10,000 notary bond

·      Complete an application approved by the state

·      Pay $21.00 state application fee

·      Purchase a notary stamp and a record book once you receive your notary commission from the state

·      Take the oath of office, mailed or emailed to you once you are approved as a notary by state.

2. Real Estate Agent

Getting a real estate license is a great idea in the Texas market. It’s not necessary for investing, but it will connect you in the real estate community, so you will be around people who are doing deals.

Real Estate Agents generally work on commission, so they don’t get paid until homes are sold.

This can be great in a strong economy and bad in a weak economy. Some realtors are so good that they’ll do just fine, regardless of the economy! Here’s a few prerequisites:

·      Must be 18 years or old

·      Must be a Texas resident

·      Must be a U.S. citizen or a lawfully admitted alien

Here are the steps to getting licensed:

1. Complete 180 hours of pre-licensing education

2. Pass exams (minimum passing score is 70% on each final)

3. Complete license application (on Texas Real Estate Commission website)

4. Fingerprints

5. Pass the Texas Real Estate Salespersons Exam – Note, there are two exams, the national and state exams. The national exam has 85 questions with a 150-minute time allowance, while the state exam has 40 questions and a 90-minute time allowance.

6. Select a sponsoring broker

3. Property Manager

This would be taking care of a property for the landlord. Note, you may need a real estate license if you want to get into property management. If you’re showing or leasing property for a landlord, you would need a license. It’s also required for anyone who is accepting rent deposits from a resident of a single-family residential real property unit. It’s best to check with the Texas Real Estate Commission for more information.

4. Appraiser

An appraiser goes out to a property to determine how much it is worth. They determine the current value of a property for the potential buyer. The appraiser will do an on-site inspection, where they will walk in all the rooms of the house to assess the interior conditions. It can be a great extra source of income. However, it does require quite a bit of studying. An appraiser must be certified for five years before they can take on a trainee. Appraising is a very detailed-oriented profession and can be regionally specific. In a tough economy, try to find an appraiser that doesn’t do mortgage work. You could look for a certified general appraiser that goes out to do appraisals on different properties. Here are the steps to become an appraiser

1. Complete the education requirements (trainee and residential appraiser programs)

2. Submit 79-hour education and application for appraiser trainee to Texas Appraiser Licensing and Certification Board

3. Complete 1000 hours of experience over a minimum of a 6-month period

4. Submit your Licensed Residential Appraiser Application to TALCB

5. Exam prep

6. Pass 150 multiple choice exam

5. Investor

Real estate investing can be a great part-time gig. However, it has some similarities with being a real estate agent. You don’t get paid unless a deal is done. Not to mention, there is also a learning curve. Starting to invest can be a daunting task, because there’s a lot to take into account. Having the money for the project, funding, inspections, title, taxes, insurance, etc.

What did we miss? What other real estate jobs are you doing?