How to Earn Supplemental Income for Real Estate Agents
The real estate industry is full of uncertainties, especially with the world’s current economic and health conditions. As a real estate expert, engaging yourself with other income-generating activities is always important to supplement your main operation and keep you going during the dark days.
Everyone requires a side hustle to supplement their primary job, regardless of specialization. The real estate industry is much more vulnerable to changes due to the uncertain nature of the world’s economy and health issues. You can use a real estate commission advance to stabilize your earnings as much as possible. In addition, there are other ways to supplement your income as a real estate agent.
Here are some activities that will earn you a stable income alongside being a real estate agent.
1. Real Estate Photography
You have been hiring photographers to take pictures of your properties but never thought of doing it yourself. Real estate photography is one of the most popular side hustles that has proven profitable for real estate agents. You must acquire a high-quality camera and equip yourself with several photography tricks and techniques.
The good thing with real estate photography is that you already have a market from your available homes. Real estate photography allows one to photograph their properties to maximum satisfaction while earning extra income.
2. Real Estate Blogging
Another activity that can earn you some extra income to supplement your real estate agent is blogging. Blogging has become popular across many fields due to significant technological advancements.
To create productive blogs, you first need to have a platform or website explaining the background of the real estate agents, benefits, and challenges to keep your audience familiarized with your content.
Real estate blogging exposes you to plenty of clients online, maximizing your sources of income. The side hustle requires one to equip themselves with top-notch writing skills and creativity in delivering content.
3. Real Estate Coaching or Training
As a real estate agent, you already have plenty of experience in the industry. You can turn the experience into an income-generating activity by offering coaching or training services to clients or real estate newbies.
All you require to become a certified real estate coach is to undertake several related courses followed by a license. The good thing with the side hustle is that you can work from home while undertaking your other real estate duties.
4. Home Staging and Organizing
With adequate skills in real estate agencies, you can earn plenty of extra income as a home stager and organizer. Home staging involves furnishing and styling a home in preparation for a sale to make it more appealing to potential clients.
On the other hand, home organizing is when a professional helps clients manage and organize their belongings within their newly acquired or pre-existing properties. You can help your clients achieve the best of their homes while earning yourself some extra pennies.
5. Real Estate Wholesaling
Real estate wholesaling is when an agent acquires contracts with different property sellers and offers them to various investors. It has become one of the most popular side hustles in the real estate industry, requiring relatively affordable capital.
However, you must dig deeper for the most discounted and quality properties across various markets. You can find such properties across different real estate websites, real estate trade fairs, and close neighbours and relatives.
6. Landscaping Services
Who said real estate agents could not engage in landscaping activities? It’s much better when you have an outgoing character in love with nature. Nearly all clients will want their potential homes fully furnished and the gardens on-point.
As a real estate agent, you can take the opportunity to offer your clients further services by landscaping their properties in readiness for potential buyers. That way, you will have intensified your revenue and exposed yourself to new experiences and skills.
7. Repair and Cleaning Services
Unfortunately, you have been extending repair and cleaning services to other professionals while you can perfectly do it yourself. Nearly all properties will require several repairs and cleaning in readiness for new buyers. Therefore, you can earn extra pennies by offering such services to your clients.
All you need is to acquire various repair and cleaning tools that are strong enough for all properties. The good thing with the side hustle is that you have a ready market from your current and pre-existing clients.
8. Real Estate Referrals
The real estate industry exists as a network of various real estate agents, realtors, property managers, brokers, wholesalers, developers, investors, attorneys, home inspectors, and consultants. In such a field, referrals and leads are the order of the day to support each other, as sales rates may differ for everyone.
Parties in the real estate industry have transformed referrals into revenue-generating activities through paying commissions. Newbies into the industry are willing to pay for referrals to intensify their market sales, brand awareness, customer base, and conversion rates.