Top 5 Ways to Earn More as a Real Estate Agent
While there are tons of real estate coaches and forums that suggest varying strategies for success, we’ve comprised a list of the top five ways you can expand your business and start earning more as a real estate agent. Not only will these steps help you earn more money, but they’ll also give you further expertise and experience in your market—which, in turn, will help grow your business.
Strategy #1: Actively seek new clients
You have likely put a lot of capital into expanding your real estate business. You have gone through various training programs and seminars, paid for your licenses and exams, and even joined sponsored listing sites to promote your properties. But the fact is clients are usually not going to just walk through the door by chance. You have to be actively seeking new clients all the time, especially if you are a new agent. It’s practically the oldest strategy in the book, but it’s still relevant and extremely effective in today’s market. You’ve got to get out there and actively seek new clients. Here’s a few reminders of the best practices:
- Actively promote yourself online.
- Make sure your website is presenting your brand in its best light.
- Take advantage of networking opportunities.
- Pass out business cards every chance you get.
- Walk the neighborhoods you service and meet people within the area.
- Participate in community activities in your service area.
- Advertise in professional real estate trade publications.
Strategy #2: Find your area of expertise
With so much information available to buyers and sellers online, it’s important for today’s real estate agents to find a way to differentiate themselves in the marketplace. Finding your area of expertise and marketing its benefits can help set you apart from your competition. Perhaps you specialize in beachside homes. Maybe you have a knack for helping first-time homebuyers navigate the home buying waters. What if your expertise is in marketing luxury properties or even property management? What will make you stand out from the pack of real estate professionals who are also looking to bring in buyer and seller leads? What unique expertise can you bring to the table? Those are the key questions that will help you distinguish what you bring to the table from your competition.
Strategy #3: Add certifications to your title
Continuing education and the various certifications you can add to your title as a real estate professional can give you the reputation you need to turn prospects into actionable leads. There are many methods to obtaining real estate certifications, whether via in-person or online classes, but the benefits remain the same. If you’re trying to earn more as a real estate agent, starting with education is not a bad idea as it can only help you be more successful.
Strategy #4: Start your own brokerage firm
If you are new agent in the real estate business, you will need to spend your first couple of years under the tutelage of a broker—learning the ins and outs of the business and building a client base. Once you are confident in your abilities and want to venture out on your own, you can become your own boss. First by becoming a broker and then starting your own brokerage firm. If you’re not quite ready to step onto the big stage, consider partnering with a few agents to form a team. This is especially useful if each agent offers a different specialty, as your team will be very skilled and flexible with what it has to offer to clients. There is great power in numbers, and this strategy can fuel growth and revenues for everyone involved.
Strategy #5: Invest in real estate
Another popular way to earn more as a real estate agent and take your finances to the next level is by investing in real estate. It only makes sense that you would use your expertise and knowledge to find investment properties that can offer you a great return and help build your portfolio. This strategy will not only add revenue to the books, but it will also allow you to speak to clients with more confidence, as you’ll have personal experience within the market you are serving.