Real estate agents have the opportunity to make extra money by leveraging their knowledge and expertise in the industry. With a constantly changing market, there are many ways to supplement their income through online activities. It’s important to remember that not all of these opportunities will be right for each agent – some may require more time, skill, or money than the agent has to offer. However, with some research and careful consideration, agents can find ways to make extra money online that fit their needs. From creating digital content to advertising and renting out properties, here are some of the top ways real estate agents can make extra money online.
1. Digital marketing
Real estate agents can use their knowledge of the industry and marketing skills to create content that educates and informs potential buyers. This could include creating articles, videos, and podcasts about the local market or how to buy a particular type of property. Agents can then promote this content online through social media campaigns and SEO tactics. For example, agents great at digital marketing are using eXp’s referral platform to target potential buyers with content and offer referrals to other agents in their network. If agents are successful in their marketing efforts, they can expect to generate a steady stream of extra income. While this income may not be as high as a traditional commission, it offers more flexibility and the potential for long-term growth.
2. Rent out properties on Airbnb or other rental platforms
Renting out extra properties with Airbnb or other rental platforms can be a great way to make extra money. This can be a great way to earn passive income while also providing tenants with an alternative accommodation option. By managing the property effectively and offering competitive rates, real estate agents can increase their revenue stream. Additionally, agents need to understand the local laws and regulations related to short-term rentals to comply with applicable rules. In addition to the GCI they receive from renting out properties, real estate agents can also benefit from the positive reviews and feedback they can get from their tenants. This will help them to attract more renters in the future. Also, as Airbnb continues to grow in popularity, agents can also benefit from the increased competition which could lead to higher rental rates.
3. Offer virtual tours of property listings
Another way real estate agents can make extra money online is by offering virtual tours of property listings. Virtual tours may include 360-degree views of the home, detailed descriptions, and information about the home’s features, floor plans, and neighborhood. As with any type of marketing material, a well-crafted virtual tour will help to capture potential buyers’ attention and keep them engaged with your listing. It’s also a great tool for showcasing valuable information to customers who are considering purchasing a property. By offering virtual tours as an additional service for clients – either for free or for an additional fee – you can capitalize on this growing trend and create even more income opportunities for your business.
4. Become an online real estate coach
Real estate coaches help agents develop the skills they need to succeed in the business. Coaching offers the opportunity to share your expertise with people looking to learn more about real estate investing and other aspects of the industry. You can offer one-on-one coaching sessions, or create group programs or webinars that allow you to interact with many people at once. By sharing your knowledge or using IDX software, you are able to build a reputation as an expert in the field which can help grow your business and open up even more opportunities for additional income streams. It’s also a great way to network and build relationships with other real estate professionals.
5. Sell products and services through affiliate networks
Affiliate networks such as Amazon Associates and ClickBank allow real estate agents to earn commissions when customers purchase products or services through their links. Through affiliate marketing, agents can link to products related to the real estate industry on their websites, share them on social media platforms, or write blog posts about them. Agents should research the different affiliate programs available and be sure to select ones that will have high potential returns. Additionally, they should track their progress in order to maximize their income. With a bit of time and effort, real estate agents can make extra money by selling products and services through affiliate networks.
6. Invest in real estate investment trusts (REITs)
REITs are a great way for real estate agents to make money online. They offer investors the opportunity to invest in an income-generating portfolio of real estate assets with a relatively low capital outlay and minimal effort. REITs are typically traded on public stock exchanges and provide liquidity, diversification benefits, and potentially attractive yields. However, it’s important to research each REIT thoroughly before investing so that you understand the details of how the investment works. By taking advantage of this investment vehicle, real estate agents can easily diversify their portfolios and generate additional income with minimal effort.
7. Create content for real estate websites
Content creation may include blog posts, articles, videos, infographics, eBooks, etc. that focus on topics related to the real estate industry such as market trends, buying/selling tips or advice, and local events. Creating content could be a great way to showcase an agent’s expertise and bring additional traffic to their website, while also providing value to potential customers. Additionally, content can be repurposed for different marketing platforms such as podcasts, social media, and email newsletters. Also, agents could monetize their content by offering premium content or services in exchange for payment.
8. Start an online business
Starting an online business can be a great way for real estate agents to make extra money. Many successful entrepreneurs have gone through the process of creating and running their own businesses. It may require a lot of work and dedication, but it can be extremely rewarding. There are many different types of online businesses that you could pursue, such as web design or consulting, digital marketing, affiliate marketing, eCommerce or selling products online, blogging/vlogging, etc. Research what’s out there and find something that interests you. Working hard and being consistent with your efforts will help you succeed in this area faster!
9. Create an online course
An online course can teach prospective buyers and sellers tips and tricks, or provide a crash course on the real estate industry. This can be a great way to share your knowledge and expertise with a wider audience while also earning extra income. The beauty of creating an online course is that it can be shared with a wide audience and is usually a good source of passive income. Agents can easily create their own courses using popular platforms like Teachable or Kajabi, and then market their courses through social media or their website. By gathering emails from people who are interested in learning more about real estate, agents can quickly build up a list of potential customers for their course.
10. Launch a real estate podcast
Podcasts have become an increasingly popular way to reach audiences and generate income. A real estate podcast allows agents to engage with listeners and share their expertise in the industry while potentially making additional income through sponsorships, advertising, or affiliate marketing. Agents can also use podcasts as a platform for interviews with local business owners, community members, and other real estate professionals in order to build connections within the industry. By offering valuable insights into the real estate market, a podcast can be used to help grow an agent’s online presence and increase their credibility among potential clients.
11. Network and collaborate with other agents
By forming professional relationships with other agents, you can increase your chances of referrals and may even be able to find joint venture opportunities. When two or more agents come together, they can often offer a wider selection of services and reach more potential customers. Plus, these partnerships will also help you learn from each other’s successes and mistakes and develop better marketing strategies for the future. It’s important to remember that not all partnerships will work out, so be sure to conduct a thorough screening process before teaming up with any other agents.
12. Invest in real estate crowdfunding websites
Real estate crowdfunding sites are a great way to make money on the side and help you diversify your portfolio. With real estate crowdfunding, you can invest in multiple properties from around the world without breaking the bank. Many of these sites also offer some kind of bonus for investing, such as discounted fees or higher returns than traditional investments. Plus, there’s usually no minimum investment required to get started. While the returns can be high with real estate crowdfunding, it does come with a certain amount of risk. Be sure to research any potential investments thoroughly before committing your money.
13. Sell advertising space on your website
If you have a blog or website that attracts a lot of visitors, you can sell advertising space on your site. You can either offer sponsored posts, banner ads, or text links to companies who might want to reach out to your audience. This is a great way for real estate agents to earn some extra money while also connecting with potential clients. Also, if you have a large social media following, you can run sponsored posts for different companies and products. This could be an easy way to make some extra cash while promoting something that could be beneficial to your clients. It’s important to remember that any content you post should be relevant and in line with your values.
14. Create a real estate app
Mobile apps can be a great way for agents to make extra money online. Agents can offer their clients access to the app and provide helpful features such as detailed property listings, neighborhood information, GPS-based directions, and more. By developing a useful mobile app that is tailored specifically to real estate needs, agents can create a valuable tool for their clients – and make some extra income in the process. 15. Start an informational blog or podcast. While blogging has been around for many years now, it’s still an excellent way for real estate agents to make extra money online by providing their prospective customers with relevant and helpful content.
15. Buy property in an up-and-coming area
Look for areas that are just beginning to experience population and job growth, as these neighborhoods often offer the most lucrative investment opportunities. Do your research before buying any property, especially if it’s a fixer-upper or located in an unfamiliar part of town. Knowing what you’re getting yourself into is key to making sure you get the best possible return on your investment. Also, don’t forget to factor in taxes and other costs, such as maintenance and repairs. Taking all of these expenses into account can help you make a better decision when it comes to investing in real estate.
16. Start a newsletter
Sending out a newsletter regularly to your clients or customers is an excellent way for real estate agents to make extra money online. You can use the newsletter to promote your services, share market trends, offer tips and tricks for buying or selling properties, provide information about local events and news, or even just send a quick “hello” every so often. There are plenty of options when it comes to newsletters – you can create one in-house using email marketing platforms such as MailChimp, Constant Contact, AWeber, etc., or you can outsource it to a third-party company that specializes in creating newsletters for real estate agents.
Real estate agents can make extra money online through a variety of means, such as creating an informational blog or podcast, investing in real estate crowdfunding platforms, selling advertising space on their website, and buying property in up-and-coming areas. Agents should always do their research before committing to any of these methods and assess the risks involved in each option. By taking advantage of these opportunities, real estate agents can increase their income and make a name for themselves in the industry.