Are you a real estate agent looking to increase your income and diversify your revenue streams? If so, you’re in luck! In this article, we will explore the untapped potential of side hustles for real estate agents and how they can help you boost your overall earnings.
Real estate, like many other careers, has peaks and troughs in income and it’s vital to have an extra source of cash flow especially now, with interest rates at crazy levels. (What is going on?) Thankfully, as a real estate agent, you already possess valuable skills and knowledge that can be leveraged outside of traditional real estate transactions. You just have to know and do what works for you. So, join us, as we dive into the world of side hustles for real estate agents.
- Run Estate Sales
Estate sales involve selling off a deceased person’s possessions, furniture, and art in one big auction. You can help clients with organizing these sales, contacting buyers, negotiating prices, and distributing profits.
- Due Diligence Reports
Due diligence reports provide insight into a property’s condition and help buyers make informed decisions. You can use your real estate expertise to compile detailed reports for clients, helping them with legal, financial, and environmental checks.
- Rent Collection – Delinquent Rent Recovery Services
You can offer rental collection services to landlords who are having trouble collecting payments from tenants. You can even take the extra step of helping with tenant eviction when necessary.
- Property Tax Consultant
Property tax is a complicated area and it’s essential for homeowners to understand their rights and responsibilities when it comes to property taxes. As a real estate agent, you are well-versed in the relevant laws and regulations so you can offer your expertise as a consultant to help homeowners navigate this tricky terrain.
- 3D Virtual Tours
3D virtual tours are becoming increasingly popular with potential buyers and landlords. You can create 3D models of properties using specialized software and then offer your services to people who are looking for virtual tours. This can be a great way to bring in extra income as well as get more visibility for your clients’ properties.
- Transaction Coordinator
Many real estate agents don’t have the time to manage all their transactions and paperwork. That’s where you come in! You can offer your services as a transaction coordinator who handles all the tedious paperwork, from filing documents to conducting research for buyers and sellers.
- Showing Agent
Agents are always looking for reliable people to show their properties and this is an ideal side hustle for you! You will be responsible for showing the property, answering buyers’ questions, providing feedback on the property after visits, and scheduling follow-up appointments. Plus, you can earn extra money doing something that you already love – real estate!
- Notary Closing Agent
Notary closing agents are responsible for verifying the documents related to real estate transactions. You can act as a notary and sign off on all the paperwork involved in a transaction.
- Interior Design Consulting
My personal favorite. Interior design consulting is an awesome side gig for real estate agents who love decor and design. You get to assist clients in sprucing up their homes, from picking out the best paint colors to selecting furniture that perfectly matches their style.
- Listing Coordinator
If you want to focus on the administrative side of real estate, then this is the job for you! As a listing coordinator, you will be responsible for setting up listings, advertising the properties, and keeping agents in the loop. The best part is that all you need to do your job is a laptop and an internet connection – no physical presence required!
- Leasing Consultant
Leasing consultants are responsible for helping tenants find a property that suits their needs. This is an ideal side hustle for real estate agents as you already know the ins and outs of the market and can help people find the perfect property to rent or lease.
- Lead Generation Services
You can offer your services as a lead generator to real estate agents who are looking for new clients. You can use tools such as social media and email campaigns to help agents identify potential buyers or sellers in their area.
- Commercial Real Estate Consulting
If you’ve got solid expertise in commercial real estate, you can put it to good use by offering your services as a consultant. Help businesses find their ideal commercial space! Your responsibilities would include inspecting and evaluating properties, negotiating leases, and providing valuable advice on legal matters related to commercial real estate.
- Drone Photography/Videography
Drone photography and videography are great ways to show off a property in all its glory. You can use drones to capture breathtaking aerial shots of properties and help agents stand out from the competition.
- Create/Sell Digital Products
You can create marketing materials such as flyers, handouts, postcards, and brochures to help potential clients learn more about real estate. Not only will you gain additional income from selling these materials, but also some extra exposure for your business.
- Sell Housewarming Baskets
You can create a business selling housewarming baskets for real estate agents to give out as welcome gifts to new buyers. You can fill the basket with items like snacks, candles, bath and body products, kitchen accessories, and more.
- Eco-Friendly Home Consulting
With the rise of green living, you can leverage your real estate knowledge to offer eco-friendly home consulting services. Help clients transition their homes into energy-efficient dwellings by providing tips and advice on how they can save money and energy while still being mindful of the environment.
- Home Staging
Home staging involves preparing a home for sale, typically by rearranging furniture and adding decorative elements to highlight the best features of a property. This can be an incredibly lucrative endeavor if you have an eye for design and the skills to pull it off.
- Transalation Services
Real estate agents often need to communicate with clients who speak different languages. You can offer your services as a translator to help real estate agents bridge the language barrier and make sure that all their clients are well-informed about the property.
- Property Locator
Assist investors in finding profitable real estate deals.
- Sell Stock Photography
As a real estate agent, you likely take lots of photos when touring properties or creating marketing materials. You can make money off these photos by selling them to stock photo sites such as iStockphoto and Getty Images. You never know, one of your photos could turn into an iconic image!
- Become a Virtual Assistant
The role of a virtual assistant can vary depending on the client’s needs. As a real estate agent, you can help other agents with administrative tasks such as blogging, email marketing, and website updates.
Appraisers are responsible for evaluating the value of a property or land for a variety of reasons. As a real estate agent, you may already possess the knowledge and expertise to become an appraiser on the side. You’ll just need to pass a few exams and get licensed in your state.
- Property Flipping
Buy distressed properties, renovate them, and sell them for a profit.
- Tutor Future Agents
If you have experience in the real estate industry, you can offer your expertise by tutoring aspiring agents. You can offer advice on how to succeed and pass the necessary tests so they can become certified and join the ranks of practicing real estate agents.
- Become a Property Manager
If you’re looking for a long-term side hustle that requires minimal effort on your part, property management is a great option. You can help clients set up rental agreements and handle tenant complaints, as well as provide maintenance services for the property.
- Sell an Ebook
If you have a knack for writing, you can put your knowledge to good use by creating an ebook on real estate. You can share tips and advice from your experiences as an agent, helping others learn the ropes of the industry. Plus, once it’s published online, you can keep earning money from sales without doing any extra work!
- Real Estate Event Planning
From open houses to real estate conferences, there’s always a need for event planners in the industry. You can offer your services as an events coordinator and help agents put together successful events that will attract potential buyers or sellers. This is a great way to network, make contacts, and increase your own visibility in the market.
Creating a real estate blog or website is a great way to establish yourself as an authority in the industry. You can share articles, tips and tricks, and even host interviews with experts in the field. Plus, this is a great way to generate extra income through affiliate links and advertising.
- Start a YouTube channel
As a real estate agent, you have the opportunity to share your knowledge and experiences through video. You can create videos about home renovations, offer tips for potential buyers or sellers, or even share success stories from past clients.
- Bookkeeping for Rental Properties
Real estate agents can also offer bookkeeping services to property owners who own rental units. This involves tracking income and expenses associated with the property, preparing financial statements, filing taxes, and more.
- Real Estate Podcasting
Launching a podcast is a great way to showcase your expertise in the real estate industry. You can create episodes that feature interviews with professionals, offer advice on buying and selling property, and discuss current trends in the market.
- Credit Repair Services
Credit repair services are becoming increasingly popular as more and more people struggle with their credit. You can offer your expertise as a consultant to help clients understand how to improve their credit score, manage debt, or even negotiate lower interest rates on loans.
- Real Estate Cold Calling
Real estate cold calling involves reaching out to potential buyers and sellers to help them get started in the buying or selling process. You can offer advice on market trends, how to negotiate a good deal and provide other helpful services.
- Photoshop Editing
Are you good with photoshop? You can help real estate agents by retouching photos to make them more aesthetically pleasing and marketable.
- Vacation/AirBnB Rental Management
You can offer your services to property owners who rent out their homes as vacation or AirBnB rentals. This involves managing incoming bookings, setting up cleaning schedules, handling customer queries, etc.
- Real Estate Investing
With the potential to buy properties, generate passive income through rentals, or even flip homes for quick profits, the opportunities are endless. But remember, do your research and understand the risks before diving in! Get ready to embark on an exciting journey in the world of real estate.
- Write Real Estate Articles
As an experienced real estate agent, you can help others learn the ropes of the industry by writing informative articles on various topics. You can pitch your ideas to publications and websites that specialize in real estate content, or set up a blog and monetize it with affiliate links and advertisement.
- Real Estate Social Media Management
Social media has quickly become one of the most important tools for marketing in the real estate industry. You can leverage your knowledge and experiences to help agents create content, manage their social media accounts, and even run ads.
- Home Renovation Consulting
Advise clients on home renovation projects to increase property value.
Phew! That’s quite a list, right? But hey, that’s the beauty of the real estate world. It’s jam-packed with opportunities and side hustles that can not only beef up your bank account but also skyrocket your professional prowess to new heights. Remember, the key is to find something that aligns with your skills and passions, and voila! You’re on your way to creating a diversified income stream that can weather any economic storm. So, get your hustle up!