6 Ways in which You Can Make Money as a Real Estate Agent
Written by Sirusziki ZIKI on June 14, 2022
Being a real estate agent is not just about driving around the town, showing properties to prospective buyers. Indeed, this is one way by which real estate agents make money but there is certainly more to this profession. Generally, most successful agents start their own firm or strictly stick to working with listings as and when your career develops.
There are several forms of income in the real estate business and you can definitely make some serious money if you are dedicated enough. If this sounds quite motivating, then you should definitely enrol for an online real estate course in Vancouver and become a real estate agent at the earliest. And if you are still giving it a second thought, here is a detailed account of how you can make money as a real estate agent.
Check them out and decide for yourself
- Retail Sales
You can get involved in listing houses for private sellers and sell homes to buyers. There are plenty of agents who make more than $100,000 a year through the retail sales and if you are really good at it, the sky is the limit.
- Commercial Sales
Although commercial Real Estate Careers In Vancouver is a little hard to break into as it requires more experience and knowledge but if you can start with a commercial firm that can guide you, you can become a successful commercial agent and make lots of money.
- Property Management Business
All investors require a property manager in order to tackle their rental properties at some point of time or other. If you can start your own property management business, you will be able to not only take care of your properties but at the same time, other properties as well. You will not only be saving 10% per month on your rent but will also make some extra money by managing the properties of other investors.
- Short Sales
Private sellers tend to list the short sales homes which are basically, the homes that they want to sell for less than the amount they owe to the bank. Many agents specialize in the short sales market and make a lump sum income out of it. However, it involves sheer dedication, attentiveness, and patience to close a short sale as the banks have a number of requirements and it can take some time to approve the short sale.
- REO Sales
REO agents list and manage the REO properties which have been foreclosed and seized by the banks. If you work with the right banks, you can make quite a lucrative living in your real estate careers Vancouver.
- Broker Price Opinions
A Broker Price Opinion or BPO is basically a report that is used to determine value on properties but is not an appraisal. The licensed agents can complete the BPOs for a number of clients including the banks too and make a valuable living with it. It is also a great way to supplement their income while the agents are still learning the business.
So, if you too want to make a rewarding career in this business and earn a lump sum living, you must quickly pass the licensing examinations.