Making money in the real estate industry doesn't have to be complicated. In fact, there are numerous opportunities available to you! With that in mind, we've compiled a list of 55 different ways you can make money in real estate. This article will provide you with a brief overview of each method, categorized into five main groups:
Traditional Methods for Making Money in Real Estate
Let's start with some tried-and-true ways of making money in real estate. Many of these involve "day jobs" in the industry, while others are classic side incomes. Here are a few examples:
1. Facilitating Real Estate Transactions
Real estate agents play a crucial role in making money in the industry. They help buyers and sellers navigate the transaction process, earning commissions in return.
2. Referrals to Other Agents
If you know of someone who is moving out of state, you can refer them to another agent and receive a referral fee. This can be a simple way to earn some extra income.
3. Residuals from Other Agents
Some real estate firms offer residuals to agents who bring in new talent. By helping other agents succeed, you can earn a small cut of their business.
4. Start Your Own Brokerage
If you're more interested in the business side of real estate, consider opening your own brokerage. This way, you can earn a percentage of all the sales from your team of agents.
5. Coaching Real Estate Agents
If you've achieved success as a real estate agent, you can share your knowledge by becoming a real estate coach. Many agents are willing to pay for guidance from experienced professionals.
6. Specializing as a Transaction Coordinator
If you enjoy paperwork and transaction work, consider specializing as a transaction coordinator. Many agents are willing to pay for assistance in managing the nitty-gritty details of transactions.
7. Residential Property Management
Become a property manager and help renters find new homes. Market rental properties, screen tenants, handle maintenance requests, and ensure rents are collected.
8. Commercial Property Management
Similarly, you can enter the commercial property management sector and manage office spaces, retail storefronts, and shopping centers.
9. Apartment Leasing
If you enjoy sales but prefer stable hours, consider becoming an apartment leasing agent. Market units, give tours, and screen tenants in large apartment communities.
10. Managing Vacation Rentals for Absentee Owners
Many Airbnb owners struggle with managing their vacation rentals, especially in terms of reservations and customer service. Offer your services as a manager to handle these tasks.
11. Managing Flips for Out-of-Area Investors
If you have project management skills, you can manage fix-and-flips for out-of-area investors. Coordinate all aspects of the project, from ordering materials to supervising vendors.
12. Executive Office Suite Management
Manage executive office suites, shared office spaces that offer amenities to small businesses and solopreneurs. Handle tenant screening and ensure tenants are satisfied.
13. Property Inspector
If you have an eye for detail and enjoy exploring structures, consider becoming a property inspector. Offer your services to buyers, sellers, and real estate professionals.
14. Appraiser
If you enjoy numbers and analyzing data, becoming a certified appraiser can be a lucrative option. Appraisers are in demand regardless of market conditions.
Ready to start making money in real estate?! Or maybe just grow your real estate income? Here are 55 ways to make money in real estate!
Making Money in Real Estate Through Online Content
With the rise of digital platforms, making money in real estate through online content has become more accessible. Here are four ways you can monetize your online content:
15. Include Affiliate Links
Utilize affiliate marketing by including links to useful products or services in your blog, podcast, or YouTube channel. Earn commissions for every sale made through your affiliate links.
16. Add Ads
Monetize your online content by incorporating ads. These ads can generate income for you, especially if you have a substantial online presence.
17. Publish Sponsored Content
Partner with brands and create sponsored content to promote their products or services. Select brands that align with your audience's interests and values.
18. Create Members-Only Content
Offer exclusive content to subscribers who pay a monthly or annual fee. This can include valuable resources, tutorials, or personalized advice.
Fresh real estate marketing content delivered to you every month!
Making Money in Real Estate by Adding Services to Your Real Estate Business
By diversifying your services, you can earn additional income. Here are some services you can consider adding to your real estate business:
19. Property Tax Appeals
Property tax appeals are a highly lucrative and untapped revenue stream for agents. Help homeowners reduce their property taxes and earn commission based on the savings.
20. New Home Photo Shoots
Capture the excitement of new homeowners by offering professional photo shoots of their new homes. This can be a memorable and profitable service.
21. Staging
Consider offering home staging services to enhance the appeal of properties. By partnering with a professional stager, you can earn a share of the staging fee and potentially increase your commission.
22. Home Repairs and Maintenance
Provide assistance with home repairs and maintenance for your clients. This can be especially helpful for investor clients who need reliable professionals to handle their properties.
23. Credit Repair
Help prospective buyers improve their credit scores and qualify for mortgages. Charge a fee for your services and earn commissions on successful purchases.
24. Notary Services
Become a notary public and offer notary services to your clients. This can be a convenient and profitable add-on to your real estate business.
25. Content Writing
Use your writing skills to create content for websites and blogs. Real estate agents often need assistance in producing quality content for their online platforms.
26. Guiding Local Experiences
Share your knowledge and expertise by offering unique local experiences to residents and tourists. These can range from cooking classes to guided tours of your city's landmarks.
27. Landscape Design and Maintenance
Provide landscape design and maintenance services, particularly in the luxury market. Many homeowners appreciate having professionals take care of their yards.
28. Painting
Offer painting services to clients, especially investors who may need to repaint properties between tenants. This can be a valuable and profitable service.
29. Cleaning
Similar to painting, cleaning services are essential for making properties market-ready. Consider providing cleaning services to clients as an additional source of income.
30. Roofing
If you have experience with roofing, offer your services to clients who may need repairs or replacements. Roofing work can be financially rewarding for those willing to take it on.
31. Bookkeeping
Assist investor clients with bookkeeping services by keeping track of their income and expenses. If you have a knack for numbers, this can be a straightforward and lucrative service.
32. Home Organization
Help clients declutter and organize their homes. Many people are willing to pay for professional assistance in creating an organized living space.
Get paid to share your real estate knowledge! Create online real estate courses for passive income.
Making Money in Real Estate by Selling Products
Selling products can provide a passive income stream. Consider these options to generate income:
33. eBooks
Compile your real estate knowledge into an eBook and sell it to interested buyers. You can self-publish on platforms like Amazon for maximum exposure.
34. Digital Products
Create and sell digital products such as templates, design elements, printable wall art, or calendars. Platforms like Etsy provide opportunities to showcase and sell your digital creations.
35. Courses
Develop online real estate courses and share your expertise with others. This allows you to charge higher prices and support students in acquiring valuable skills.
36. Stock Photos
Sell your high-quality real estate or local area photos as stock images. Platforms like Dreamstime, Shutterstock, and Adobe can help you reach a wide audience.
37. Equipment Rental
Consider renting out tools and equipment to homeowners and investors who may need them for DIY projects. This can be a convenient and profitable service.
Real estate investing is a lot more versatile than you might think. Here are 18 different ways to invest in real estate (whatever your skills or budget!).
Making Money in Real Estate through Investments
Real estate investing offers a wide range of opportunities for generating income. Consider these investment options:
Buying Rental Properties
- Single-Family Homes
- Vacation Rentals
- Multi-family Residential
- Commercial
- Industrial
- Vacant Land
Flipping Properties
- Fix and flip any property type
- Wholesaling
Investing Without Actually Buying a Property
- Real Estate Investment Groups and Crowdfunding
- REITs
- Mutual Funds
- ETFs
- Real Estate Notes
- Hard Money Loans
- Tax Liens and Tax Deeds
Renting Out Your Existing Space
- A Room
- Parking
- Storage
Remember, it's important to focus on one or two income streams at a time to avoid becoming overwhelmed. Choose options that complement your existing real estate business, cater to your clients' needs, and provide diversification in case of market changes.
If you're unsure where to start, consider creating online content as it aligns with your existing business and can be easily implemented. Building a real estate website is a great way to establish your online presence and attract potential clients. Check out our free step-by-step guide on how to build a real estate website to get started.
Best of luck in your real estate endeavors!
