How Real Estate Agents Can Take Their Business From Local To National

View PDF | Print View by: RobMinton Total views: 1 Word Count: 568

WARNING: You're about to read a suggestion for your business that won't be easy to undertake. But in doing so, you could tap into three very profitable revenue streams for your business. You'll have to start a new, challenging venture to access these revenue streams. Are you up for it?

I coach agents all over North America. Some are in small cities. Small cities, unfortunately, come with small populations, and that limits agents who want to build a large, thriving business. In smaller markets, it's difficult to generate a big number of leads, and leads are what drive sales.

One way to side-step this small-market challenge would to take your business to a national level. You could do this by marketing in national publications. For example, run your best lead-generation advertisement in USA Today, a national newspaper with a subscription base of more than 2 million . Think about the number of leads you would be able generate from just a single ad!

I realize this might not make a lot of sense because the majority of these readers aren't looking to move to your area. However, if you shifted your marketing towards investors, you might be surprised to find hundreds or thousands of investors that might be willing to buy an attractive investment property in your area.

In order to capture these national sales, you'll need to offer property management services. This is where my warning comes into play. Property management is a tough business to start. There are numerous challenges and hurdles to overcome.

However, property management services allow you to sell homes to investors outside of your market area. This ability to take your business national could be extremely profitable for you. Think about advertising in the Wall Street Journal or Investors Business Daily. What type of prospect would you attract to your business?

Many agents who consider property management services only the monthly income received for the management of properties. This income is attractive, and it can be structured to cover all of your overhead associated with the service. If you have 50 homes under management and charge $100 a month per home, your business collects $5,000 a month without having to sell a home. You'd take it, right?

The next profit opportunity for you with property management is the ability to sell the homes that you have under management. An agent I coach includes a clause in each of his management agreements that gives him the ability to sell the managed homes and earn full commissions on each sale. Obviously, the terms of the contract would have to be acceptable to the investor. Think about it: If you 50 homes under management with clauses that allowed you to sell those homes, you would have 50 listings in your pocket. This would be an extremely attractive asset.

Property management is a difficult business, and you would have to consider all the challenges before getting involved with it. Another option might be to find a great property management company and refer your clients to this company. This would still give you the ability to take your business national without having to provide the management services yourself. However, you would lose two of the sources of revenue available through property management: the monthly management income and the automatic listings you' hold for the homes under your management. You would still have the ability to generate leads at a national level, though.

Article Source: StepsIT

About the Author

Rob Minton, who reinvented his real estate sales business to sell 269 homes to a limited number of clients, has written a very practical book on how real estate agents can sell more homes For a limited time, you can download his entire book for free by visiting Renegade Millionaire Strategies for Real Estate Agents

Rating: Not yet rated

Comments

No comments posted.

Add Comment

You do not have permission to comment. If you log in, you may be able to comment.

Copy and Paste Article Code.

Remember: The article body, title, author bio and links may not be changed or removed. By publishing this article, you agree to all the terms in our Terms of Service.

WARNING: You're about to read a suggestion for your business that won't be easy to undertake. But in doing so, you could tap into three very profitable revenue streams for your business. You'll have to start a new, challenging venture to access these revenue streams. Are you up for it? I coach agents all over North America. Some are in small cities. Small cities, unfortunately, come with small populations, and that limits agents who want to build a large, thriving business. In smaller markets, it's difficult to generate a big number of leads, and leads are what drive sales. One way to side-step this small-market challenge would to take your business to a national level. You could do this by marketing in national publications. For example, run your best lead-generation advertisement in USA Today, a national newspaper with a subscription base of more than 2 million . Think about the number of leads you would be able generate from just a single ad! I realize this might not make a lot of sense because the majority of these readers aren't looking to move to your area. However, if you shifted your marketing towards investors, you might be surprised to find hundreds or thousands of investors that might be willing to buy an attractive investment property in your area. In order to capture these national sales, you'll need to offer property management services. This is where my warning comes into play. Property management is a tough business to start. There are numerous challenges and hurdles to overcome. However, property management services allow you to sell homes to investors outside of your market area. This ability to take your business national could be extremely profitable for you. Think about advertising in the Wall Street Journal or Investors Business Daily. What type of prospect would you attract to your business? Many agents who consider property management services only the monthly income received for the management of properties. This income is attractive, and it can be structured to cover all of your overhead associated with the service. If you have 50 homes under management and charge $100 a month per home, your business collects $5,000 a month without having to sell a home. You'd take it, right? The next profit opportunity for you with property management is the ability to sell the homes that you have under management. An agent I coach includes a clause in each of his management agreements that gives him the ability to sell the managed homes and earn full commissions on each sale. Obviously, the terms of the contract would have to be acceptable to the investor. Think about it: If you 50 homes under management with clauses that allowed you to sell those homes, you would have 50 listings in your pocket. This would be an extremely attractive asset. Property management is a difficult business, and you would have to consider all the challenges before getting involved with it. Another option might be to find a great property management company and refer your clients to this company. This would still give you the ability to take your business national without having to provide the management services yourself. However, you would lose two of the sources of revenue available through property management: the monthly management income and the automatic listings you' hold for the homes under your management. You would still have the ability to generate leads at a national level, though. Article Source: <a href="http://www.allbestarticles.com" target="_blank">StepsIT</a> About the Author: Rob Minton, who reinvented his real estate sales business to sell 269 homes to a limited number of clients, has written a very practical book on <a href="http://www.renegademillionaireblog.com">how real estate agents can sell more homes</a> For a limited time, you can download his entire book for free by visiting <a href="http://www.freerenegadebook.com">Renegade Millionaire Strategies for Real Estate Agents </a>

StepsIT

Pages

Sponsors

How Real Estate Agents Can Take Their Business From Local To National

About the Author

Comments

Add Comment

Copy and Paste Article Code.

More articles in this Category

Main Menu

Categories

Search

Links