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Monday, September 24, 2007

What are some other ways to earn extra money as a Reatlor? -

Durning the slow times, what are other ways Realtors have earned some extra cash by using your real estate knowledge? I have hear of some people doing things like property inspections and the like? Any other ideas on earning extra money?________Hi, Jon. In Florida, you have to be trained and licensed to do property inspections. As a Realtor, I would not feel qualified to inspect plumbing, electrical, roofing, structural issues, and so forth - and to know all the related local building codes for same. However, as a Realtor, you could contact your local relocation companies and offer to do Broker Market Analyses (BMAs) in your area. Usually, they pay a set fee per BMA. You could also quot;RENTquot; yourself out to other Realtors to do Open Houses and Broker Opens. Agents with lots of listings frequently need help and will pay a licensed agent a set fee to do this. And you might meet perspective buyers, and sellers, this way. Consider doing seminars on hot real estate topics - you could charge a fee for attendance if you think you have something of value to offer, or ask for a flat fee if you are going to speak to a private club or company audience. Maybe you could do a panel with a lender and an insurance rep to broaden the scope for your audience. In my mind, the best thing to do during slow times is MARKET yourself. Review and revise your business plan and get out there and advertise and network and hand out your business card like candy bars. WITH candy bars! Do volunteer work and give back to your community and you will meet lots of prospects, too. It s always better to make things happen than to wait for them to parachute into your lap. Good luck and best wishes.________BPO s Broker Price Opinions. P.S. You do NOT need to be a broker to do these. Just a licenses Realtor or appraiser. Hope this helps. Terry S. http://www.Welcome2Arizona.com________Lots of realtors merge their talents and energy during hard times to market more effectively. For instance, partner with another agent or two to market listings. Stage the listing, give advice to the homeowner about what to do to effectively quot;showquot; their properties, work the commercial end of the business. Take on rental listings and management. Specialize in lower priced listings for quot;first timequot; buyers. There are lots of people who need housing and aren t getting acknowledgement because they can t afford higher-priced homes. Get involved in the foreclosure or REO side of real estate. Sometimes people will list with you if you can offer more than one service. Some agents even use the slow times to take appraisal courses and work in appraiser s offices as research assistants, photographers or even administrative assistants. Take the courses, get your appraisal license and be ready when the market breaks.

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