Real estate is a fast paced and competitive industry. While many agents know the basics like closing deals, listing properties and networking, there are other strategies that can help boost your income. If you are looking to grow your business and earn more, check out these 10 lesser-known tips that could make a big difference.  

1. Property management

As a real estate agent, you are familiar with properties. Property management can be a great way to earn extra income. Here is what it includes:

• Managing rental properties for landlords
• Taking care of unsold properties until they sell
• Managing commercial properties like offices or malls
• Screening and finding tenants
• Collecting rent and handling complaints
• Marketing rental properties

How to make money as a real estate agent in property management

Property management is a lucrative side hustle for a real estate agent. You may charge a flat fee or a percentage of the rental income as the commission. You may take up multiple properties once you have a trusted group of vendors.

Property management also offers networking opportunities to boost your real estate career. For example, renters may be planning to buy a home, and property owners may sell their property or buy more investment properties.

2. Real estate education and training

Do you enjoy explaining real estate business and market trends to your friends and clients? You’re a natural fit for a great real estate business idea. Teach others how to maximize their real estate career. Here are a few ways to use your real estate experience and make money as a trainer:

• Conduct training sessions for aspiring real estate agents
• Create webinars and online courses
• Conduct workshops for real estate investors
• Partner with real estate schools. 
• Create content on TikTok and YouTube
• Release courses on educational websites like Udemy
  

How do you make money from real estate training?

When teaching, you generally charge a registration fee for offline sessions and sell your courses and webinars online. Additionally, If you get enough followers on platforms like TikTok or Youtube, you can also make money from ads.  

Working as a real estate trainer helps you establish yourself as an authority in your business. Your courses also act as lead magnets, attracting clients to your real estate business.

3. Real estate blogging

If you like writing, you could make money by turning your real estate expertise into blogs. Subject ideas include:

• Finding the perfect home
• Negotiating a good deal
• Staging your home for sale
• Real estate market trends
• Investment strategies
  

Making money through real estate blogging

A successful blog helps you make money through advertisements and affiliate marketing. For example, when writing a post about an open house, you may include affiliate links to purchase home decor from an online store. Real estate companies and magazines may also hire you to write content for them.

4. Leverage the Power of Social Media Ads

Social media platforms like Facebook, Instagram, and LinkedIn aren’t just for connecting with friends—they’re also powerful tools for lead generation. Many real estate agents rely on organic social media posts to reach potential clients, but running targeted ads can take your business to the next level.

Making money by leveraging the power of social media ads

Invest in ads and test different strategies to see what works best. A good targeted ad campaign can help you get more leads and close more deals. 

5. Develop a Niche Market

Finding a niche within the real estate market can help you stand out. Whether you specialize in luxury homes, eco-friendly properties, or first-time homebuyers, having a niche will set you apart from the competition and build a reputation in that area.

How to make money

Take time to research different market segments and identify what excites you the most. Developing expertise in a particular niche will help build your reputation as the go-to agent for that market.

6. Work with Investors

Real estate investors are always on the lookout for properties to flip, rent, or develop. By forming strong relationships with investors, you can ensure a steady stream of business. You can help them find good deals and earn referral fees when they successfully close on properties.

Make money by working with investors

Attend local real estate investment groups or join online forums where investors hang out. Build trust by offering valuable advice on properties that fit their investment goals.

7. Offer Relocation Services

Relocation services are a valuable offering for clients moving to a new city or state. Many people moving for work or personal reasons are unfamiliar with the area and need guidance on neighborhoods, schools, and amenities. As a local expert, you can position yourself as a relocation specialist, helping clients find their ideal home while generating additional income.

How to start making money by offering relocation services

Create relocation packages that include detailed area guides, local vendors, and even home orientation tours to make the transition easier for your clients.

8. Create a Referral Network

Word-of-mouth is a powerful tool in real estate. Building a referral network with other agents, contractors, inspectors, or mortgage brokers can help generate business for you and your partners. Not only does this foster trust and collaboration, but you can also earn referral fees for sending clients to the right professionals.

Make money through networking

Stay in touch with your network regularly and always offer value in return. A simple “thank you” or a follow-up can keep the relationship strong and top of mind.

9. Invest in Real Estate Yourself

One of the best ways to make money as a real estate agent is to become a real estate investor yourself. By purchasing properties to rent out, flip, or develop, you can earn passive income and build wealth over time. With your industry knowledge and connections, you’ll be well-equipped to make informed investment decisions.

Make money through investment

Start small and look for properties with good rental income potential or room for appreciation. Over time, this can become a steady source of passive income and help you build wealth.

10. Partner with Local Businesses for Joint Marketing

Real estate agents can benefit greatly from collaborating with local businesses to cross-promote each other’s services. Whether you team up with home improvement stores, landscapers, or moving companies, joint marketing efforts can expose your brand to new audiences and generate more leads.

How to make money

Consider offering a special promotion, such as a discount or free service, to clients who use both your services and your partner’s.

Conclusion

While the traditional methods of earning as a real estate agent—closing deals and networking—will always be important, these lesser-known strategies can help you diversify your income streams and grow your business in new ways. By leveraging the power of technology, building partnerships, and focusing on niche markets, you’ll be able to stand out from the competition and increase your earning potential. Happy selling!