Did you know there are at least 7 different ways to make money with your real estate license? I bet there are some you didn’t know about. Here is a list and I saved the best for last.
1. Commissions from real estate sales and rentals. The most obvious way. Earn typically 5% unless the transaction involves another agent. Otherwise, 2.5% depending on the terms of the listing agreement before the split with your broker. Rental commissions are usually a months rent split between agents or 10% of the total lease value
2. Licensed Assistant – You can be an assistant to a realtor or broker without a license, but your activities are limited to mostly clerical activities. An assistant with a license can be of more value to an agent and potentially earn much more.
3. Property Management. Advantages of property management are a more stable monthly income. Typical fees earned are 5 to 10 percent of the gross rental income before split with your broker. Short-term rental management can be 20% or more depending on the duties performed.
4. Broker Price Opinion – Lenders pay licensed agents to complete Broker Price Opinions. They are essentially an abbreviated appraisal. Fees earned can be from $40 to over $100 depending on the complexity or distance travelled. Learn how to complete BPOs. Follow This Link.
5. Property Inspections – Lenders also pay licensed agents to do drive by inspections of the homes being held as collateral. Agents only need to take a few photos and answer a few questions about what they saw and upload results to a portal. Fees earned are usually $15 to $25 per property.
6. Referrals – In order to legally earn a referral fee an individual must be licensed. Referral fees are typically 20 to 30%. Some licensee make a decent living just from referrals.
7. Recruiting – Almost every broker is a recruiter. They offer an infrastructure to their agents in exchange for a piece of the commissions or fees earned. Agents can also be recruiters by A) Building a team of agents. A team leader will typically offer lead flow in exchange for a percentage of the commission or B. Revenue or profit sharing from their broker by bringing new agents to the brokerage.
This website generates about 100 new customer leads every month. If you are licensed or thinking about getting licensed and would like to join my team contact me at 954-895-2431.
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Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
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