In the ever-evolving landscape of real estate, savvy agents are finding new and creative ways to diversify their income streams. However, coming up with a side hustle, especially one that complements your skills and experience as a real estate agent, can be daunting.
To celebrate the beginning of 2024, we created a list of various side hustles that real estate agents can try to generate extra income.
Remote Notary Service
With the rise of remote work, the demand for online notary services has soared. Real estate agents can tap into this trend by offering remote notary services and facilitating property transactions without the need for physical presence.
To become a notary, you must meet your state's qualifications, complete an application, pay a filing fee, and receive a certificate. In some states, they offer training and conduct background checks,
Home Staging Services
A well-staged home can make all the difference in attracting potential buyers. Real estate agents with a flair for interior design can venture into home staging services. By transforming properties into visually appealing spaces, agents can increase the marketability of listings and command higher commissions.
Real Estate Photography or Videography
High-quality visuals are paramount in today's real estate market. Agents skilled in photography or videography can capitalize on this need by offering their services to fellow realtors. Stunning visuals can elevate property listings, capturing the attention of prospective buyers and helping the property sell quickly.
Showing Agent
Busy real estate professionals and occasionally larger brokers can delegate the task of showing properties to dedicated showing agents. This side hustle involves presenting homes to potential buyers on behalf of other agents, allowing them to focus on other aspects of their business. Showing agents play a crucial role in enhancing the efficiency of the overall real estate process.
Property Tax Appeals
Agents knowledgeable about local real estate markets can assist property owners in appealing their property taxes. By leveraging their expertise, agents can help clients reduce their tax burdens, earning a fee based on the successful reduction achieved.
Property Management Assistance
Property management can be time-consuming, and many landlords are willing to outsource tasks to professionals. Real estate agents can offer services such as tenant screening, rent collection, and maintenance coordination. In addition to generating a steady income, you can also use the opportunity to build up a database of property owners and renters that can be valuable later on in your real estate career.
Credit Repair
Assisting clients in improving their credit scores can be a lucrative side hustle for real estate agents. By guiding clients through the credit repair process, agents can help them qualify for better mortgage rates, ultimately making them more attractive prospects for property transactions.
