Due to the unpredictable nature of the real estate market, it’s wise for agents to diversify their income sources to ensure financial stability. Luckily, an Aceable survey shows that 87% of real estate agents enjoy the flexibility to control their schedules, making it easier to explore secondary employment opportunities.
Moreover, side jobs for real estate agents comes with key advantages like continuous learning and valuable experience. Today, you’ll discover many side hustles that can be a great option for earning extra money in the real estate sector, using your experience as an agent. You’ll also learn why having a side hustle is such a great idea.
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Why Real Estate Agents Should Consider Side Jobs
Starting a side job, in addition to giving real estate agents financial security, has other benefits such as:
Skill Enhancement and Professional Development
By working with diverse clients and dealing with various types of real estate transactions in their side jobs, agents gain valuable skills, like multitasking and schedule management. This professional growth benefits the side job and helps to improve the agent’s effectiveness in their primary real estate role.
Financial Flexibility and Self-Marketing
Side jobs provide agents with greater financial flexibility and the means to invest in and market themselves. Reducing dependence on commission-based income allows agents to have more control over their financial security.
Network and Client Base Expanded
Side jobs often connect agents with a customer base that is separate from their main business, thereby amplifying their market exposure. This expansion can result in new leads and referrals, improving the agent’s visibility and leading to long-term success.
Continuous Learning and Improvement
Furthermore, side jobs offer continuous opportunities for learning and skill development. Whether it’s mastering new technologies, understanding different real estate markets, or refining marketing strategies, each experience is beneficial to an agent’s professional growth and brand development.
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Top 15 Side Jobs for Real Estate Agents
Real estate agents have a unique set of skills and experiences that can be adapted into various side jobs. Each of these roles helps diversify income and capitalizes on the agents’ existing knowledge and connections. Here are 15 side jobs ideal for real estate agents:
1. Real Estate Administration
A real estate administrator takes care of the day-to-day operations of real estate properties, ensuring they meet client and landlord expectations. To start in this field, gain experience in property management and real estate operations, and look for entry-level positions at property management companies or real estate firms.
Example:
- Begin as an administrative assistant in a real estate office to learn the basics and gradually take on more responsibilities.
2. Property Market Coaching
For agents with experience, real estate coaching is a good way to share knowledge, make connections and help others grow in the industry.
Example:
- Organize workshops, webinars, or writing informative blogs about more popular zones, how to find good properties, and how to interact with clients.
- Additionally, you can then monetize your blog with affiliate marketing.
3. Virtual Notary Services
An online notary offers notarization via the Internet, verifying identities and notarizing documents, such as real estate deeds, wills, powers of attorney, and contracts through a secure audio-video connection.
Example:
- To start, look for online notary training and service providers like DocuSign.
- Begin by taking an online course to understand the necessary digital tools and regulations, then apply for an online notary commission in your state.
4. Property Presentation
The preparation of homes for sale is a skill many real estate agents are already familiar with. By offering staging services, agents can be compensated for preparing homes for viewings, thus improving the property’s appeal and potentially increasing the sale price.
Example:
- Consider contacting real estate agencies with customized proposals that include popular decoration styles suitable for their listings.
- Craft personalized emails for real estate agencies to promote your staging skills.
- Additionally, keeping up-to-date with seasonal decor trends can boost the quality of your staging services.
5. Property Writing Services
Agents with a knack for writing can create content for real estate blogs, magazines, or online platforms, covering topics from market trends to DIY home improvement tips. This helps them establish themselves as industry experts.
Example:
- Seek freelance writing work on platforms like Upwork or Working Nomads to promote your writing services and earn extra income.
- Another opportunity involves contributing to newsletters for local real estate offices or writing guest posts for established real estate websites.
6. Affiliate Marketing
Agents can use their websites or blogs to promote useful products like furniture, construction materials, or gardening supplies or services through affiliate marketing programs, such as IKEA. By linking to other businesses’ products, agents earn a commission on sales made through their referrals, also known as referral marketing.
7. Digital Product Sales
Creating and selling digital products like e-books, templates, or educational courses related to real estate can be a lucrative side hustle. Once developed, these products have the potential to offer a steady stream of passive income over the long term.
Example:
- E-books could cover topics such as a beginner’s guide to real estate investing or top tips for successful property management.
- Templates might include property listing presentations or lease agreement formats.
8. Extended Rental Investments
Investing in properties to rent out long-term can lead to consistent income through rental payments, alongside potential property value appreciation. This approach can be an effective way to build up wealth over time.
Example:
- Investing in properties close to universities may attract a steady stream of student tenants, while properties near tourist areas can offer a continuous demand for rentals.
9. Property Flipping
For agents interested in short-term projects with potentially high returns, fix-and-flips involve purchasing properties, renovating them, and selling them at a higher price. This requires market knowledge and some renovation skills but can be very profitable.
Example:
- When selecting properties for fix-and-flip, consider critical factors such as the local real estate market trends, the demand for housing in the area, and proximity to places of interest like schools, shopping centers, and transportation.
10. Property Development Management
Agents with organizational skills can manage real estate projects such as new developments or large-scale renovations. This role involves coordinating between various parties, ensuring projects stay on schedule and within budget.
Example:
- Gain experience leading the transformation of a historic building into luxury condos.
- Associate with a team to manage the development of a new suburban housing complex.
11. Website Ad Management
For real estate agents operating popular websites, selling advertising space to related businesses like home goods stores, mortgage lenders, or interior design firms can be a lucrative source of income.
Example:
- Maintain a balance between ads and valuable content. Ads should be strategically placed in areas that do not interfere with the main content, such as in sidebars or as banner ads between blog posts.
12. Homeowner Photo Sessions
Offering professional photoshoots for new homeowners can be a profitable way to celebrate their purchase.
Example:
- Collaborate with agencies of photography or independent photographers with experience in the real estate sector.
- Develop photography skills to offer this service.
13. Sponsored Posts Creation
Agents can partner with local businesses to create sponsored content that attracts potential clients to buy products or to buy or rent near those places to experience, such as restaurants, bars, parks, schools, and others.
Example:
- A post on your professional Instagram account about home security might be sponsored by a local security system provider, benefiting both the agent and the sponsor.
14. Stock Image Contributions
Agents with photography skills can leverage their ability to sell photos of homes and landscapes to stock photo websites. This not only provides a source of income but also helps agents showcase their work.
Example:
- Focus on capturing everyday scenes that are relatable to a general audience, such as a well-set dining table, a cozy reading nook, or a garden during sunset.
- Uploading these images to platforms like Shutterstock or Getty Images can help you build a steady stream of buyers for your photography.
15. Local Exploration Guide
Providing unique local experiences, such as tours or classes, can be a fun and profitable side hustle. Agents can leverage their local knowledge to offer personalized experiences to tourists or new residents.
Example:
- Create listings on platforms like Airbnb or Viator.
- Offer a guided historical tour of your city or a cooking class featuring local cuisine, attracting clients who might also be potential real estate leads.
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Practical Tips for Successful Side Jobs
Making time for a primary career and side jobs in real estate can be challenging. Here are key tips to help you manage your responsibilities effectively while maintaining professional integrity and personal well-being:
1. Prioritize Self-Care to Avoid Burnout
Overworking can lead to burnout, which hinders performance across all your professional projects. Integrate regular breaks, physical activities, or relaxation techniques into your daily routine.
Ensure you’re getting sufficient sleep, eating healthily, and taking days off. This takes care of your physical health and mental well-being, keeping you motivated and focused for both your main and side jobs.
2. Balancing Time Between Responsibilities
Efficiently planning your time is crucial when you have a primary job and a side hustle. To do this, consider using digital planners and calendars; organizational apps can also help you plan your weeks more effectively. For example, assign specific days for showing properties and other days only for your side job.
This approach will ensure that you stay focused and efficient, preventing any neglect of your responsibilities and improving your productivity in both roles. Set specific work hours for each, and be disciplined about adhering to these times to ensure that neither job suffers.
3. Transparency with Your Main Employer
Maintaining transparency with your primary employer about your side hustle is important. Before you commit to a side job, review your employment contract and understand any stipulations about secondary employment.
Open communication with your employer can prevent conflicts and foster an atmosphere of trust, especially if your side hustle becomes known within your primary work environment.
Why Wait to Explore Side Jobs as a Real Estate Agent?
Side jobs for real estate agents offer unique opportunities for professional growth and personal satisfaction. They allow agents to apply their expertise in new, flexible ways, contributing to career long-term success. That’s why it’s important for each agent to evaluate their skills and interests and choose a side job that resonates with their career goals and lifestyle.
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