Real Estate Agent Pros And Cons – This post may contain affiliate links that allow us to earn a small commission for the products and services we use and recommend
Let’s be real. Real estate is a full-time gig. If you want to be a successful part-time agent, you need a few tricks. So is a side hustle for real estate agents even a good idea?
Real Estate Agent Pros And Cons
Side hustles. To be considered a suitable real estate agent, your hustle must meet the following criteria:
Importance Of Engaging Real Estate Agent
There are many advantages to hustle on the part of a real estate agent. Here are our top picks:
Your clients and potential customers come first. Helping people was probably a big part of why you chose a career in real estate. I can guarantee that your hustle will provide value to your clients and prospects. I know this for sure because your clients and potential customers wouldn’t pay for a service that didn’t benefit them!
Credit repair assistance is a perfect example of hustle on the part of the client. How many times have you had to turn down a buyer because bad credit is preventing them from getting a mortgage? Instead of sending them away, charge a fee to help them repair their credit.
What is your plan for the next market decline? How do you stay in business when your colleagues start dropping like flies?
Quick Pros And Cons To Hiring A Real Estate Agent To Sell Your Mobile Home
Strategic side hustles are my favorite way to recession-proof your real estate business. And property tax appeals are my favorite anti-recession rush.
A property tax appeal sounds like something only an accountant should handle, right? But it actually has a lot more to do with asset valuation than straight accounting. I’ve worked in the real estate tax field for about 5 years and I’m telling you: real estate agents are perfect real estate tax agents. All you really need to do is use a CMA to show your IRS that the market value of your client’s home is less than the IRS assumed.
In a down market, tons of homes are overvalued for tax purposes because the finance office is incorrectly increasing values when values are actually going down. And the timing is perfect because home sales naturally slow down in a down market. So when your property sales slow down, your property tax claims go up and vice versa.
Don’t be a victim of the next recession. Take a moment to learn how to make money with property tax appeals and be prepared to take advantage of the next market downturn.
All You Need To Know Before Working As A Realtor
According to Demand Metric, blog content costs 62% less than traditional marketing, but generates 3x more leads! How is it possible?! First, blogging consistently over time shows Google that your website is current and relevant, so Google will rank you higher in search results and help buyers and sellers find you online. Then you’ll be able to demonstrate your expertise and gain trust before even speaking one-on-one with these prospects. Blog posts also provide great social media content (simply share your blog posts on all your platforms) and give your potential customers a no-pressure opportunity to ask real estate questions.
So blogging should already be a big part of your marketing plan. Why not make your blog your own source of income?
In How to Make Money Real Estate Blogging, we cover sources of blog income such as advertising, affiliate income, subscriptions, and sponsored content.
You won’t get rich with these blog-based income streams (although you can get rich from the leads your blog generates!), but if you blog for leads anyway, it only takes a few minutes a week to make a difference. that blog for a few hundred dollars a month.
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As mentioned earlier, the hustle of a good real estate agent complements your real estate business. You want to be able to generate new leads from your side hustle and use your side hustle to serve your existing clients.
The next generation of shoppers want to share their big life events (engagement, wedding, pregnancy, baby, etc.) with their followers on social media. And an event as big as a new home calls for professional photos, perfect for sharing.
So make some money by offering new home photography. You can take photos yourself if you have technical and artistic know-how. Or connect with a professional photographer. You can either pay the photographer a flat rate and keep a cut for yourself as the business owner, or work out some kind of profit sharing arrangement with the photographer.
Just ask your photography clients to tag you in their social media posts. Ta-da! Tons of free promotion for you as a real estate agent and for the photography branch of your business.
What Is Dual Agency In Real Estate?
, But you want to have enough money to live comfortably for the rest of your life. You want the freedom to take a vacation from your real estate business. Or retire. Or start your own brokerage. Without financial independence, you feel trapped. You work because you have to, not necessarily because you want to. But with financial independence, you can work when you want, how you want, where you want. It’s a game changer!
Passive income is the key to financial independence. You need to be able to make money while you sleep. Or lounging on the beach. Or when you focus on starting a charitable community organization.
Digital products (such as e-books, online courses, and printable templates) are my favorite source of passive income for real estate agents. You invest time once to create your digital asset and then automate your sales funnel to sell your digital assets again and again for years to come.
I’ll give you a real-world example. I recently launched my Etsy Shop, Key Real Estate Designs, to sell valuable yet affordable templates to real estate professionals. Key Real Estate Designs offers business plan templates, ready-for-you content calendars, ready-to-publish blog posts, and printable forms to help real estate agents build their businesses.
Pros And Cons Of Home Selling Without A Real Estate Agent
Money!) while creating digital products and listing them on Etsy. Then I sit back and watch each item sell multiple times. As long as these items help real estate agents grow their business, they will continue to sell. And because Etsy processes the transaction and automatically delivers the products when you buy, I can make money around the clock, no matter what I’m doing.
Of course, the real estate rush is not 100% profitable. Before you rush in, there are a few downsides to be aware of.
Yes, spending time on a side hustle means you have less time for your primary real estate business.
Many experienced agents insist that doubling your prospecting efforts is the only way to build a sustainable real estate business. And it worked for them.
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But I would say that there are many different paths to success. If your side hustle compliments your real estate business, why not invest some time in diversifying your real estate income? After all, you are still working on your business.
Starting a side hustle is like starting a micro business. You can’t do this without an initial investment of time, money, or both.
Most agents I talk to want to limit the initial cash investment. They prefer to invest their time. But if you have more money than time, almost everything can be outsourced! Hire a ghostwriter (like me!) to write your e-book or blog posts, find a designer to create your digital products, or outsource the creation of your online course to a freelancer.
You can’t do everything. And unless you can afford to outsource some of your side tasks, a real estate agent may be too much work for you at this point.
Real Estate Agent Rebates, Incentives Have Pros And Cons
If you burn out, everything suffers: your business, your family, your friends, your health. Even if the burnout is only temporary, it may not be worth it.
Please, for the love of all that is good and holy, don’t try to run multiple side hustles at once. You’ll be too ripped and spread too thin for any of your hustle to work. To minimize the risk of burnout, focus on the one hustle that really moves the needle in your life. And if you need to wait until the seasonal slow season starts, that’s fine. Work a side hustle into your life; don’t work in your life with a side hustle.
I know there are downsides, but the pros far outweigh the cons. As long as you choose your rush wisely.
We covered a few examples of nifty side hustles in this post, but if you need more ideas for real estate hustlers, check out our list of 25+ Side Hustles for Realtors®. One of the most popular trends in the real estate industry over the past few years has been the creation of real estate teams. Real estate teams are formed on what seems like a daily basis and can range from a couple of agents joining forces to a few dozen agents coming together to form a team.
Pros And Cons Of Investing In Real Estate
In many cases, real estate teams are created as a way to increase an agent’s sales numbers. Building a team to increase sales
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