Finding new revenue streams can level out the highs and lows of commission sales.

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

New revenue streams can level out the highs and lows of commission sales.One of the primary downsides of being a commissioned salesperson is that it is nearly impossible to predict future income.

In real estate there are often revenue lulls caused by delays, technical issues, and bad markets. As a result, it is possible to go for weeks or months at a time with no income at all.

Many seek additional revenue streams to level out the ebb and flow of business. Often even a few hundred dollars here or there can make a big difference.

Owning rental property is often a good fit for a real estate agent, because it is a natural real estate discipline that intertwines very nicely with the profession.

Others seek part-time employment that does not interfere with their full-time real estate career. We have several agents in out office that drive a school bus in the morning and afternoon, which not only adds a tidy income but also provides them with health insurance benefits.

Another good source of income is performing ministerial tasks for agents that are very busy. Very often an overwhelmed agent will pay for taking photos, putting out signs, and doing marketing chores. It’s a great way to maximize the benefit from the marketing infrastructure that you already have in place.

My current option of choice is online advertising. I have been doing it for years and it requires very little or no effort on my part and provides a steady stream of ancillary income. I do it by direct sales and also by partnering with the large search engines. Monetizing content is a great way to pick up a few bucks on a regular basis.

I’m sure that there are many more ways to make a few extra bucks here and there, It just takes a little creative thinking and a bit of extra effort to keep the revenue stream flowing!

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Ambassador
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Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Richard, great advice. The problem is that when you tie yourself to a job that has the same hours every day, real estate often demands your time at precicely the same moment. Although sometimes you have to do what you have to do. And the insurance is a huge benefit!

You have a great idea for the online advertising help. Many have no clue how to do that.

Oct 08, 2012 05:19 AM #1
Rainmaker
1,210,042
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Richard. I don't really understand what you do for advertising. Nonetheless, I know a lot of agents who do Brokers Price Opinions and seem to enjoy that.

Oct 08, 2012 05:21 AM #2
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Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Richard, a little income on the side can make a big difference.  Sometimes I do things for attorneys, but I am wondering about your online advertising.  Would you mind emailing me a link of some examples?  Thanks.

Oct 08, 2012 05:36 AM #3
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Well...Mr. understatement of the year..."revenue lulls" in real estate. I love it.

 

Oct 08, 2012 05:38 AM #4
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Richard Weisser
Better Homes and Gardens Real Estate Metro Brokers - Newnan, GA
Richard Weisser Coweta Newnan Homes for Sale

Andrea...

I will write a "members only" post later this week with examples and "how-to!" Thanks so much!

Sheila...

I deliberately did not mention BPOs here because in GA it has been suggested that you need an Appraiser License to do a BPO for money. You can do one for a listing. I knew that a lot of comments would bring them up! Thanks for jumping in.

Mona...

I'll do you one better ... I'll write a post later this week! THX.

Rich,,,

Lol ,,, yes, quite the understatement! Thanks my friend.

Oct 08, 2012 05:48 AM #5
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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

I agree that everyone should maximize earning capacity. . there are opportunities being presented everywhere. .

Oct 08, 2012 05:59 AM #6
Rainmaker
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Janis Borgueta
Key Properties of the Hudson Valley ~ 845-527-7115 - Newburgh, NY
LIC R.E Salesperson - Homes for Sale Newburgh NY

Richard.. i look forward to that post later this week.. Many agents here have their "real Job" that takes up way too much time.. and they become occassional realtors.. so hard to work with as they are never available.  there has to be a happy medium though.. and a steady income for many is a must!

Oct 08, 2012 06:06 AM #7
Rainmaker
256,725
Frank Castaldini
Coldwell Banker - San Francisco, CA
Realtor - Homes for Sale in San Francisco

I take my hard earned money and invest in real estate and businesses.  I would not recommend to anyone to put time into another business since being a successful real estate agent take time.  The income from real estate can and will be impressive.  By diverting effort from real estate the income potential will be stunted dramatically...so I say don't do it.

Oct 08, 2012 07:16 AM #8
Rainmaker
1,210,042
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Thanks Richard. I'll look for that post too.

Oct 08, 2012 09:05 AM #9
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional, 931-920-6730 - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Richard, It does pay to have some other sources out there when the mainstay gets a little slow. Nice recap.

Oct 08, 2012 11:44 AM #10
Rainmaker
437,367
JL Boney, III
Russell and Jeffcoat - Columbia, SC
Columbia, SC Real Estate

I am sure that given the marker over the past few years there have been a lot of agents out there finding out ways to supplement their income.

Oct 08, 2012 02:15 PM #11
Rainmaker
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Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Looking forward to the next post!

Oct 08, 2012 02:24 PM #12
Rainmaker
1,817,830
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

That would be a great way to earn a few extra dollars.  May need to look at that.

Oct 08, 2012 03:24 PM #13
Rainmaker
615,219
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
Sabinske & Associates Inc.

Great options and I have bookmarked this.  I have a contract for deed property that I own, but I might want to buy another rental or two when that is paid off.

Oct 08, 2012 04:03 PM #14
Rainmaker
721,695
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Hi Richard,

I do bpos , not a lot, but maybe 6-10 a month.  I also have rental property that helps out a lot.  Just a little extra income per month.  I don't think I could take on a part time job.

Oct 15, 2012 05:30 PM #15
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