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If you’ve been in real estate for a while but still don’t feel like you’ve found your groove yet, you might be racking your brain for ways to jumpstart your business and find new clients. As part of this, you’re likely also looking for ways that you can bring in some more income, too.
Luckily, there are likely quite a few options for you in this area.
To help you see what they might be, here are three tricks that can help you make more money from your real estate business.
Just because you’re not helping someone else buy their dream home doesn’t mean that you can’t be on the lookout for some great properties yourself.
In some situations, you might be able to find a home for sale that you’d love to get your hands on. And while you can try to flip this property and sell it quickly to someone else, you can also go down the road of renting that property out, either for long-term or short-term use. With the rental option, you’ll be able to start making money off of the rent for that property each month. So even if you haven’t been able to sell any houses in a month’s time, you can at least be getting that passive income.
For real estate agents that have spent the majority of their time focused on residential homes, you might want to start looking into commercial real estate as a way to make some more money and expand your portfolio.
Depending on how you want to handle a commercial property, be it selling space to other businesses or renting a property that you now own yourself, you can get more income this way in addition to what you’re making from selling homes. And because there will always be a market for businesses looking for commercial space, commercial real estate is usually a pretty safe investment.
Your skills and abilities as a real estate agent can help you bring in more money each month in other ways too, especially if you’re able to harness your Internet presence.
For many real estate agents and other people with talents that others seek after, marketing themselves online can be very financially fruitful when partnered with traditional marketing strategies like physical postcards and mailers. Another effective real estate marketing strategy is to draw audiences to your website via blog posts, videos, podcasts, and email campaigns. If you’re able to show yourself as someone who has the answers that others are looking for or is aspirational to people who are trying to gain the career you have, you can sell your own time or products to people in addition to becoming an influencer or affiliate for other brands.
If you’re a real estate agent who’s needing to find some additional ways to make money each month, consider using the tips mentioned above to help you accomplish this goal.
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