Diversifying your income is key for real estate agents today. Managing rentals or making digital products are great ways to earn extra while boosting your real estate work. Let’s dive into 25 cool side hustles for agents. These tips can help you make the most of your skills and add extra cash flow.
Key Takeaways
- Side hustles give agents more ways to make money, offer passive income, and help during slow times.
- The best side gigs enhance an agent’s main business, help clients, and can promote each other.
- Before you start a side hustle, think about any rules or conflicts of interest that might come up.
- Smart side hustles show off your skills, build different incomes, and give you financial security.
- Today, new tech and creative online ideas are changing how we think about extra work, making digital side jobs more popular.
A List of Top 25 Side Hustles for Real Estate Agents
For real estate agents wanting to boost their income, a smart side hustle can do wonders. These extra jobs use what agents already know. They help manage risks and build passive incomes. Here are some top picks:
Remote Online Notary (RON)
Offering online notary services is a great idea now. This side job lets agents notarize documents for people all over. It’s a flexible way to earn more.
Property Tax Appeals
Agents can help homeowners lower their property taxes. They use their knowledge to review home values and sales. This work can earn agents a solid fee.
Property Management
Managing rentals can be a good side business. It involves finding tenants, collecting rent, and handling repairs. This way, agents can earn extra by overseeing investments.
eBooks and Courses
Expert agents can make and sell eBooks or courses, focusing on real estate. These educational products turn their knowledge into passive income. They help new investors and buyers learn, too.
Credit Repair Services
Helping people fix their credit is another option. By providing credit repair services, agents assist clients in getting better mortgage deals. It’s a win for everyone.
Chad Carson built a rental empire capturing cash flow, appreciation, and tax benefits over several years.
Home Organization and Estate Sales
For agents who like organizing, this is a good side hustle. They can help people tidy their homes or sell estate items. It’s a rewarding way to earn extra cash.
Affiliate Marketing and Sponsored Content
With a strong online presence, agents can earn from affiliate marketing. They advertise products or services to their audience. It’s a way to make extra money.
Selling Digital Products on Etsy
Agents can sell their own digital products on platforms like Etsy. This could include prints, guides, or templates. It’s a creative way to add to their income.
Becoming a Real Estate Mentor
Mentoring is a great choice for seasoned agents. They can share their skills through coaching or workshops. It’s an enriching way to earn and help others.
Conducting Neighborhood Tours
Agents who know their local areas well can offer tours. This can be to potential buyers or anyone interested. It showcases their knowledge and brings in money.
Purchasing Investment Properties
As a real estate agent, you can invest in properties to generate passive income through rental income or by flipping houses for a profit.
Transaction Coordinator
Offer your expertise to other agents by managing their transactions, handling paperwork, and ensuring a smooth closing process.
Showing Agent
Specialize in showing properties to potential buyers, allowing listing agents to focus on other aspects of their business.
Listing Coordinator
Assist top-producing agents by managing their listings, coordinating marketing efforts, and handling administrative tasks related to listings.
Real Estate Assistant
Provide support to busy agents by managing their schedules, handling client communication, and assisting with various administrative duties.
Creating a YouTube Channel
A YouTube channel lets agents share their real estate insights. They can post educational videos or property tours. It helps build a following, earn ad revenue, and become known as a local expert.
Providing a Lead Generation Service to Other Real Estate Agents
Agents good at finding leads can sell their services. They could help other agents find potential clients. It’s a way to use their marketing skills to make money.
Offering Real Estate Photography Services to Clients
For agents with an eye for photography, this is a great option. Professional photos can attract more buyers. It’s a side job that also boosts property sales.
Now showing the rest of the side hustles via this table below
| Side Hustle | Description | Income Potential |
| Real Estate Podcast or Radio Show | Create a real estate podcast or radio show and monetize it through sponsorships or advertisements. | Varying based on listenership and sponsorships. |
| Real Estate App or Software | Develop a real estate app or software and monetize it through subscriptions or advertisements. | Potential for recurring revenue based on user base. |
| Real Estate Writing Services | Offer real estate writing services to clients, such as property descriptions, marketing materials, or blog content. | Freelance rates or project-based fees. |
| Real Estate Marketing Services | Provide real estate marketing services to other agents, including social media management, content creation, or advertising campaigns. | Service fees or commission-based earnings. |
| Real Estate Property Inspection Business | Establish a real estate property inspection business, offering services to buyers, sellers, or investors. | Inspection fees based on property size and type. |
| Real Estate Renovation or Flipping Services | Offer real estate renovation or flipping services to clients, leveraging your knowledge of market trends & potential returns. | Profit margins from successful property flips or renovations. |
| Real Estate Concierge Service | Create a real estate concierge service for busy professionals, assisting with tasks like property searches, scheduling, or move coordination. | Service fees or retainer-based income. |
Agents have many chances to expand their income. Options range from consulting to creating content. These extra jobs not only boost earnings but also enhance agents’ knowledge and connections.
Importance of Side Hustles for Real Estate Agents
Real estate agents deal with many challenges. They adjust to market changes and fluctuating commissions. Side hustles are more important than ever. They offer extra income, passive earning chances, and protection in slow times.
Side hustles are not just about money-making; they diversify our income. They reduce the risk of depending solely on sales. Through our knowledge, we create new income streams. Side gigs can lead to long-term financial security.
A well-chosen side hustle can be the difference between financial stress and earning potential that provides peace of mind.
Take, for example, side hustles such as renting out properties or appealing property taxes. Even becoming a virtual assistant in real estate can boost our earnings.
Additionally, side gigs help us grow. They let us learn new things and meet new people. All this while making extra money.
| Statistic | Value |
| Texas agents who can control their hours | 77% |
| Texas agents with good flexibility | 100% |
| Texas agents who started after March 2020 | 83% |
| Median wage for US real estate agents and brokers | $62,010 |
The facts show the importance of more sources of income. Side hustles offer flexibility and money-making chances. They help those in real estate cope with its ups and downs.
Benefits of Having a Side Hustle
More and more, side hustles for real estate agents are becoming popular. They give people lots of advantages. One big plus is that you’re not relying completely on your main business for money.
The side hustle allows you to earn extra cash, which is great for avoiding debt or saving up. Also, some of these hustles can bring in money even when you’re not actively working. This can lead to more security and freedom with your finances. You can turn your real estate skills into more money-making methods, helping you earn more.
Over 44 million Americans have a side hustle, with many millennials using them to supplement income for financial purposes.
Side hustles are great for giving you back control over your time and life. As a real estate agent, you can prefer one that you find interesting. It lets you try new things without losing control of your schedule. This is especially important for real estate professionals who have a lot on their plate or want more time for themselves.
Choosing the right side hustle can also protect you during tough times in real estate. If the market dips, your other income can keep you afloat. It’s like having a financial safety net. This extra income can make challenging times easier to handle.
| Side Hustle Potential | Earnings |
| Part-time Real Estate Agent Commission | 1.5% of property sale price (avg. $5,623) |
| Referral Agent Fee | 20-25% of agent’s commission (avg. $1,405.75) |
This table compares the money you can make with two popular real estate side hustles. It shows the possible earnings from being a part-time agent or getting referral fees. While the numbers might change, it proves that there are more income chances with the right side hustle.
A side hustle can bring a lot to a real estate agent. It offers more money, potential for extra income, and more flexibility. It can also protect you from up-and-down real estate markets.
By adding a side hustle that fits their main job, agents can grow their earnings, be more stable, and find personal satisfaction. All this while still doing well in their real estate work and helping their clients.
- Diversify revenue sources
- Generate passive income
- Explore new interests and ventures
- Achieve work-life balance
- Mitigate market risks
Should Real Estate Agents Have a Side Hustle?
Some real estate agents don’t like side hustles. They think you should just focus on real estate. But, it really depends on what you want and need. New agents or those with growing bills might find side jobs helpful for making some extra cash.
If you want to be financially free, make money without much work, or protect yourself from market shifts, a smart side hustle could help. But, as real estate professionals, you need to think it through. You should consider why we want a second job, how much time it will take, and how it might affect our main job.
Over 44 million Americans have a side hustle, including many millennials.
This shows that lots of people have side jobs. For real estate agents, this trend can mean more chances to make extra money.
| Data Point | Value |
| Average Home Value in the U.S. | $374,900 |
| Part-time Agent Commission | 1.5% of Total Sale Price |
| Referral Agent Fee | 20-25% of Agent Commission |
The table above shows what real estate agents can make from commissions and referral fees. You can add to this with side hustles.
- Real estate license holders have early access to exclusive Multiple Listing Service (MLS) properties.
- Specific real estate license requirements vary by state.
- Real estate agents work on commission that is a percentage of a property’s sale price.
The benefits and special rules that come with a real estate license are important to think about. They can help in deciding whether to have a side job. The key is to choose a second job that matches your career goals and lifestyle, which also helps you meet new clients.
Characteristics of an Ideal Side Hustle
Today, real estate agents are looking for side hustles that fit well with their main job. These side hustles should help attract new clients for their real estate business. And at the same time, they should provide a way to turn these side hustle clients into potential real estate customers.
A good side hustle should add to income sources while protecting against drops in the real estate market. It should be easy and affordable to start, not taking too much time from their main work. This way, they can check if it’s a good fit without a big investment upfront.
The best side hustle matches a real estate professional’s skills, making use of what they’re already good at. For instance, a real estate agent with marketing skills might do real estate marketing as their side hustle.
Being real estate investors as well, we know how vital it is to have different sources of income. A good side hustle should support our main work in real estate and also help us grow financially.
Top side hustles that fit these needs include:
- Doing real estate virtual assistant work
- Selling courses or eBooks on real estate investing
- Photographing properties for sale as a real estate photographer
By choosing the right side hustle, real estate professionals can boost their earnings and advance in their real estate career.
Questions to Ask Before Starting a Real Estate Side Hustle
Side hustles in real estate are becoming more common. It’s important to think about the rules and whether they’re right for you. Start by asking yourself a few necessary questions:
- Is this side work allowed under your state’s real estate license rules?
- Could doing this on the side cause problems with your main real estate business?
- Does the real estate broker you work with agree to your side work? Would you have to share some of the money you make with them?
- Will this sideline job help or hurt your main work as a real estate professional?
It’s wise to talk with experts or legal advisors. They can help you with these questions. They can also make sure you follow fair housing and moral rules. This helps keep you on the right track.
Always remember, being known as a reliable real estate agent is very important. A good side hustle can boost your real estate career. But it’s key to do it with care and act professionally.
| Potential Side Hustles | Legal/Ethical Considerations |
| Remote Online Notary (RON) Services | Check what the state says, get the proper go-ahead |
| Property Tax Appeals | Make sure there’s no problem with your real estate clients |
| Property Management | Let people know of any possible issues, stick to fair housing laws |
| eBooks and Courses | Don’t make false statements, stay professional |
Think carefully about the legal and ethical side of your side job. Doing this, you can earn extra money confidently. Also, this keeps your real estate work honest and respected.
Conclusion and the Future
Side hustles for real estate agents are becoming more popular. The real estate industry will see new ways to make money. Smart real estate professionals will use new tech and digital tools. They will find creative ways to make more money alongside their main job.
The best real estate agents will find side hustles that fit their skills. These will help them make more money in the long term. They might manage short-term rentals or offer notary services online. There are many paths to explore.
The future of real estate is in creating multiple income streams. By going beyond just being a real estate virtual assistant, professionals can lead change in the industry. This approach helps them face challenges while using new chances to their advantage.
FAQ
Where do real estate agents make the most money?
Real estate agents typically make the most money from commissions on property sales. They gain a percentage of the sale price, which can differ depending on the location, type of property, & other factors. This commission-based income can be substantial, especially for agents who are successful in closing deals and building a strong client base.
What other job roles can real estate agents take on to supplement your income?
Real estate agents can supplement their income by taking on additional roles such as property management, real estate coaching, or even starting their own real estate-related businesses.
They can also leverage their expertise to offer services like home staging, interior design, or even real estate photography. These additional income streams can help diversify their earnings and increase their overall financial stability.
Can you detail the process of converting initial real estate inquiries into actual clients?
The process of converting initial real estate inquiries into actual clients involves several key steps. First, real estate agents must qualify the leads by understanding their needs, timeline, and financial readiness.
Next, they should personalize their communication by addressing the lead’s specific concerns and tailoring their approach to the lead’s preferences. This includes providing valuable information, offering free consultations, and following up promptly to build trust and establish credibility. By fostering genuine relationships and providing exceptional customer service, real estate agents can effectively convert leads into clients and close deals.
