August 4, 2022

4 Ways To Get More Income As A Property Agent

With the property market being an ever-booming business, it is no wonder that the market is flooded with property agents. But what can a property agent do to earn some extra cash when the property market slows down? Here are some of the ways.

Become a Property Manager

 With an ever-booming property market comes more property investors. And it is not surprising that many of them have multiple properties but zero desire to do the dirty work themselves.

What an entrepreneur property agent can do is to search for these investors and become their property manager. This means that you will need to find the tenants for them, and cater to the tenants’ needs for as long as you are the property manager.

You will earn a cut of the rental monthly and the returns can be fairly decent, but it may all eventually get tiring if the property requires high maintenance.

Become a Developer Agent

 Many property agents have found a quick buck by becoming an agent for developers. This is because there are always buyers whether the market is healthy or slow. The first few developer agents usually earn a very decent amount of money, especially since they do not have to cut their commission to their agency.

This method works, but you will need connections to the developer to become their agent in the first place – and many agents do not take this as a long-term job as they usually leave after the majority of the development has been sold out.

Property Consultant

 And eventually, when you have been an agent for long enough, you will have the contacts and network to find the best Below Market Value (BMV) properties in the market. At this point, you can make property investors your main buyers market by hunting out the best deals for them.

The crème de la crème of these types of agents do not just charge a hefty commission upon sales of the property, but they also charge “consultation fees” just for meeting up with them.

Bulk Sell as a Guru

And lastly, people are always hungry for an education that can earn them money. The market is now flooded with not only property gurus but also stock market gurus, digital marketing gurus, and so forth.

Many entrepreneurs’ property agents have gone out to present themselves as property gurus in the market, providing free classes. They provide value in form of property knowledge to those with no knowledge of the property market, and then when the agent comes across a great deal, he will promote it to his ‘students’.

As the guru would already have formed a strong bond of trust with his/her ‘students’, it will be infinitely easier to promote the project to them. Many of these agents have managed to bulk sell new developments this way.

Creativity is the New Game

The business world, especially the property line, is no longer a stale environment. And to be at the top of the game you need to be creative.

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