5 Little Known Ways to Supplement your Real Estate Business Without Selling

Introduction

Are you passionate about the real estate industry but prefer not to engage in traditional property sales? Or do you enjoy selling but need an additional source or a more consistent source of income inbetween closings? Fortunately, there are alternative avenues through which you can generate income and stay connected to the real estate market. In this comprehensive blog post, we will explore various ways to make money in real estate without selling properties directly. These strategies not only offer financial opportunities but also allow you to leverage your knowledge and skills in different aspects of the real estate industry. Additionally, we will discuss why many real estate agents struggle and how C.R.E.W Academy can help agents navigate the ups and downs of the real estate market by implementing the S.W.A.T Method to create supplemental real estate businesses. Let’s dive in!

1. Property Preservation: Protecting Properties and Profiting

Property preservation, also known as mortgage field services, is a specialized niche within the real estate industry that involves maintaining and safeguarding foreclosed or unsold properties. As a property preservationist, you provide valuable services that protect the property and enhance its marketability. Here’s how you can profit from property preservation:

Understanding Property Preservation: Get familiar with the concept of property preservation and the various services involved, such as securing properties, winterization, lawn maintenance, and repairs.

Securing Contracts and Clients: Reach out to banks, mortgage lenders, and real estate companies to secure contracts for property preservation services. Develop relationships with key players in the industry who can refer clients to you.

Essential Equipment and Tools: Invest in the necessary equipment and tools required for property preservation, such as locks, plywood, lawn care equipment, and basic repair tools. Ensure you have reliable transportation to reach different properties.

Effective Marketing and Networking: Market your property preservation services to real estate professionals, property managers, and local communities. Create a strong online presence through a website and social media platforms. Attend industry events and join professional organizations to expand your network.

Property preservation can be a rewarding and profitable venture for individuals who enjoy hands-on work and have a keen eye for property maintenance. If can also be business that you run from your couch and never pick up a hammer. All of the work can be subcontracted out. C.R.E.W Academy offers a mini course https://crewacademy.gumroad.com/ on getting started with property preservation.

2. Starting a Digital Marketing Agency as a Real Estate Agent

As a real estate agent, you possess valuable knowledge and experience in the industry. By starting a digital marketing agency, you can leverage this expertise to help other real estate professionals improve their online presence and attract clients. Here’s how to get started:

Identifying Your Target Market: Determine the specific niche within the real estate industry that you want to target. It could be working with real estate agents, brokers, property developers, or property management companies.

Offering a Range of Services: Define the digital marketing services you will offer, such as website design, search engine optimization (SEO), social media marketing, email marketing, and content creation. Tailor your services to meet the needs of your target market.

Building an Online Presence: Create a professional website for your digital marketing agency to showcase your services, portfolio, and client testimonials. Optimize your website for relevant keywords to attract organic traffic from search engines. Make sure the social media accounts for agency showcase what your company is capable of.

Collaborating with Real Estate Professionals: Build strategic partnerships and collaborate with real estate professionals to provide them with digital marketing solutions. Attend real estate networking events, join industry associations, and establish relationships with key players in the field.

Starting a digital marketing agency allows you to utilize your real estate expertise while capitalizing on the growing demand for effective online marketing in the industry. You can access free training through HubSpot Academy or you can join Skillshare and purchase courses through Udemy.

3. Supplement Your Real Estate Sales Business with Credit Repair

In addition to traditional real estate sales, you can supplement your income and broaden your service offerings by providing credit repair services. Many potential homebuyers face challenges due to low credit scores, and by offering credit repair assistance, you can help them overcome these obstacles. Here’s how you can do it:

Educate Yourself: Familiarize yourself with credit repair laws, regulations, and best practices. Understand the credit scoring system and how different factors impact credit scores.

Assess Client Credit Profiles: Analyze clients’ credit reports to identify negative items, errors, or areas for improvement. Develop customized strategies to help clients improve their credit scores and qualify for better loan terms.

Establish Partnerships: Collaborate with mortgage lenders, real estate agents, and other industry professionals who can refer clients to you for credit repair services. Establishing these partnerships can provide a steady stream of clients.

Create Referral Opportunities: Offer referral incentives to your existing real estate clients who refer others to you for credit repair services. Word-of-mouth recommendations can be a powerful source of new clients.

Supplementing your real estate sales business with credit repair services not only helps clients achieve their homeownership goals but also establishes you as a trusted advisor and expands your earning potential.

4. Supplement Your Real Estate Sales Business with a Virtual Call Center

A virtual call center is another supplemental business that can enhance your real estate sales income. By providing professional call center services remotely, you can offer additional value to your clients while diversifying your income streams. Here’s how to get started:

Set Up a Virtual Call Center: Determine the technology and software required to set up a virtual call center. Invest in reliable internet connectivity, call routing systems, and customer relationship management (CRM) tools.

Define Your Services: Identify the types of calls you will handle, such as lead generation, appointment setting, customer support, or property inquiries. Tailor your services to meet the needs of real estate professionals and their clients. You can also utilize your call center agents as ISA’s (Inside Sales Agent’s) for your own personal sales business.

Build a Team: Recruit and train a team of virtual call center agents who are skilled in phone etiquette, customer service, and real estate knowledge. Provide ongoing training and support to ensure consistent service quality.

Develop Scripts and Procedures: Create scripts and guidelines for call center agents to ensure consistency in communication. Develop procedures for handling different types of calls and common scenarios in the real estate industry.

Market Your Services: Promote your virtual call center services to real estate professionals through online advertising, social media, and direct outreach. Highlight the benefits of outsourcing call center tasks and how it can improve their business operations.

Supplementing your real estate sales business with a virtual call center allows you to provide additional value to your clients while diversifying your income streams.

5. Using Content Creation and Blogging to Make Money in Real Estate

Content creation and blogging can be powerful tools for generating income in the real estate industry. By sharing valuable information and insights, you can attract an audience and monetize your content. Here’s how to monetize your content creation efforts:

Creating Engaging and Informative Content: Produce high-quality content that provides value to your audience. Write blog posts, create videos, or host a podcast that covers various topics related to real estate, such as buying/selling tips, home improvement ideas, market trends, or investment strategies.

Building an Online Presence and Growing Your Audience: Establish a strong online presence by creating a professional website or blog. Optimize your content for search engines to attract organic traffic. Engage with your audience through social media platforms, email newsletters, and online communities.

Monetization Strategies for Real Estate Content: Explore different monetization strategies, such as sponsored content, affiliate marketing, selling digital products (e-books, courses), advertising, or offering consulting services. Choose strategies that align with your audience and the value you provide.

Content creation and blogging offer a creative and lucrative avenue for making money in real estate. By consistently producing valuable content and building a loyal audience, you can monetize your expertise and knowledge.

6. Why Many Real Estate Agents Struggle and How C.R.E.W Academy Can Help

It’s no secret that the real estate industry can be challenging, and many agents struggle to achieve long-term success. According to industry statistics, around 87% of real estate agents fail to survive beyond their first few years in the business. There are several reasons why being successful in traditional real estate can be a problem for many agents:

Unrealistic Expectations: Many agents have unrealistic expectations about the real estate industry, often influenced by popular reality TV shows like “Million Dollar Listing.” They expect instant success, high-profile clients, and massive commissions, but the reality is far different.

Intense Competition: The real estate market is highly competitive, with numerous agents vying for clients and listings. Standing out from the crowd and consistently securing business can be a significant challenge.

Market Fluctuations: The real estate market is subject to fluctuations, influenced by economic conditions, interest rates, and other factors. Agents must navigate these changes and adapt their strategies accordingly.

Limited Income Stability: Real estate agents often face irregular income streams, as commissions are typically earned upon successful property transactions. This uncertainty can make it difficult to plan and maintain financial stability.

However, by implementing supplemental businesses like property preservation, starting a digital marketing agency, offering credit repair services, or establishing a virtual call center, real estate agents can improve their chances of success. These additional income streams provide stability, diversify their skill set, and expand their client base.

To further support real estate agents in their journey, C.R.E.W Academy (Create Real Estate Wealth), follows the S.W.A.T Method to offer comprehensive training and mentoring programs. C.R.E.W Academy equips agents with the knowledge and skills necessary to navigate the ups and downs of the real estate market, including guidance on implementing supplemental businesses. With their expert guidance and support, agents can overcome the challenges that hinder many from succeeding in the industry.

Conclusion

In the ever-evolving world of real estate, there are numerous opportunities to generate income without engaging in traditional property sales. By embracing these alternative avenues, you can carve out a profitable and fulfilling career in real estate beyond the realm of traditional property sales. And with the support of C.R.E.W Academy, real estate agents can gain the knowledge and resources to navigate the challenges and thrive in this competitive industry. So, take a leap and explore the possibilities of expanding your real estate business through these supplemental ventures. The future of your success awaits!