You probably heard the term ‘’Side Hustle’’ more than once before. This became a huge buzzword in the past decade.
Being fairly self-explanatory, a side hustle is a project or business that helps you make some extra cash in your spare time, aside from your regular full-time or part-time job. Now when we got that out of the way, you’ll be surprised to know that nearly half of Americans have a side job. Yeah!
Whether paying off student loans or saving up for a downpayment on your first home, side jobs can also help you grow as an individual and offer amazing work experience.
We’re focusing specifically on real estate. If you’re a realtor that means you have amazing selling and networking skills and you will thrive at these side gigs I will brainstorm with you in a second.
Now, Affiliate and referral programs go hand in hand with real estate. To be more specific, for a referral program you can be a customer that simply referees that company’s services to your friends and family and gets a cash reward for it. Affiliate program compensates actual marketers, real estate agents, and influencers whenever their clients use that company’s services. This is an amazing way to use your connections as a realtor, make them stronger and make money!
There are endless opportunities in real estate! The most important is your willingness to make it happen, and your strong business connections you’ve already made and the digital era we live in is just a plus in this equation.
Now, let’s get started. Here are some of the best side hustles for real estate agents.
- AFFILIATE MARKETING
If you want to make money from the comfort of your own home, a coffee shop, or even while you’re sleeping then Affiliate marketing is the right thing for you.
Essentially the idea is for you to find a product or a service you used in the past and you trust and let the world know about it. For example, if you worked with many different moving companies as a realtor there must be some you made strong connections with, you find they do an amazing job and you recommend them to your clients, friends, and family. Well now you’d do the same thing, the only difference is you’d get paid!
There are a whole lot of companies looking for affiliates since that helps their business a lot. You shouldn’t only mention the business, but also explain how it works, and tell them what you like the most about the company.
Usually, through an affiliate link, sales are being tracked, and every time your client or a friend actually uses the company’s services you get paid. Pretty simple and straightforward.
If you find a great product and pair it with an amazing audience, you will be successful in no time! But please remember, only recommend businesses/services you personally experienced. Your reputation is on the line, and any negatives about the product will reflect negatively on you. The stuff I recommend is what I consider to be the best, so I wouldn’t suggest you do anything differently.
- WHOLESALING (BIRD-DOGGING)
People skills and your real estate mindstate will come really handy when doing wholesaling. If you’re not familiar with what this actually is, let me explain. You simply find great real estate and refer them to cash buyers who are actively looking for real estate to invest in.
Depending on the market sometimes it will be easier and at times harder to find a good deal, but that’s all a part of the real estate business, so don’t get discouraged. There’s always a real estate agent looking for great deals, and if you’re willing to invest your time in building a network and going through low and high to find these opportunities, soon you’ll be making thousands just in referral fees just by finding deals.
If you built a good trusting relationship with the buyer, it could be easy as getting paid from the end buyer once the deal closes. But the smartest thing would be to have a contract involved just to make sure you actually get paid.
One way to do this is by signing an Option Agreement or a Purchase Agreement with the intent of signing it to the end buyer. Birddogers and wholesalers can make anywhere from $5,000 to $10,000 per property.
- AIRBNB MANAGEMENT
Short-term rentals became more and more popular amongst travelers rather than staying in a hotel. According to the statistics on average people extend their stay around 2.4 longer when staying in Airbnb rather than hotels.
If you’re not willing to put a down payment on a place(or don’t have funds to), do not worry. All you need is a property owner with a few rooms to fill.
Not every property owner has time to manage guests coming in every other day- cleaning and setting everything up, but that’s where the Airbnb manager comes in. It’s simple- Approach a property owner who is looking for tenants. Tell them you’ll pay rent as an Airbnb manager. Throughout the month you will clean the property, welcome guests, pay the right insurance payments, and rake in cash.
- VIRTUAL ASSISTANT
Digital nomads and side hustlers all over the world start out as virtual assistants (VA’s). VA’s don’t ever have to meet their clients in person in order to make money.
What do virtual assistants do?
You simply do all the tasks that the client is too busy to do themselves like:
- Managing appointments
- Sending emails to clients
- Writing and sending personal newsletters
- Updating mailing lists
- Maintaining property listings
Even sometimes personal tasks like booking hotels and restaurants. And you can do all of that remotely. Being in real estate, common sense would tell me you already possess great communication and time management skills to be great at such a field.
- BECOME A NOTARY
Becoming a notary is probably one of the easiest ways of making money.
The purpose of a notary is simple: To attest to the authenticity of a document and to verify the identity of those signing it.
When a document has been notarized, it is presumed by the law to be valid and has been signed by people identified in the document. Becoming a notary isn’t difficult or expensive, and also notarizing documents is not difficult either.
Depending on where you’re getting your jobs from, most notaries can make anywhere from $75 to $200 per appointment. If you manage to arrange one signing per day, that’ll add up fast!
One way to get a notary job is to work as an independent contractor for a title company, attorney, or to get your name listed on the websites like 123notary.
There are indeed numerous side jobs you can work in your spare time that do not include any initial investment from you, but can make you a pretty good bank. Already being in the real estate world, you made the connections, have strong selling skills and simply know your way with people, and that is all you really need to be great at these side hustles.
I hope this article was helpful in guiding you through different jobs that are out there, and it can never hurt if you ever want to venture out into one of these professions.