One of the primary downsides of being a commissioned salesperson is that it is nearly impossible to predict future income.
In real estate there are often revenue lulls caused by delays, technical issues, and bad markets. As a result, it is possible to go for weeks or months at a time with no income at all.
Many seek additional revenue streams to level out the ebb and flow of business. Often even a few hundred dollars here or there can make a big difference.
Owning rental property is often a good fit for a real estate agent, because it is a natural real estate discipline that intertwines very nicely with the profession.
Others seek part-time employment that does not interfere with their full-time real estate career. We have several agents in out office that drive a school bus in the morning and afternoon, which not only adds a tidy income but also provides them with health insurance benefits.
Another good source of income is performing ministerial tasks for agents that are very busy. Very often an overwhelmed agent will pay for taking photos, putting out signs, and doing marketing chores. It’s a great way to maximize the benefit from the marketing infrastructure that you already have in place.
My current option of choice is online advertising. I have been doing it for years and it requires very little or no effort on my part and provides a steady stream of ancillary income. I do it by direct sales and also by partnering with the large search engines. Monetizing content is a great way to pick up a few bucks on a regular basis.
I’m sure that there are many more ways to make a few extra bucks here and there, It just takes a little creative thinking and a bit of extra effort to keep the revenue stream flowing!