Have you thought of exploring the real estate industry for your next business venture? There are plenty of things you can do, including becoming a realtor, that range from solely online to personable, that can help you earn a living.
The following paths in the real estate industry typically involve a low barrier of entry and can lead you on the path of a fulfilling career.
1. Real Estate Transaction Coordinator.
A real estate transaction coordinator is someone who helps real estate agents perform administrative tasks such as communicating updates with clients, lenders, and agents, as well as coordinating the closing process. Most brokerages offer in-house transaction coordinators, but many of them operate as a freelance business from their homes.
If you’re interested in starting a transaction coordination business, you need to have experience in customer service and administrative roles and have a strong attention to detail. Most transaction coordinators are great with people and spend time with their local community finding leads, so you may also need a sales background in relation to home selling.
2. Hosting an Airbnb.
Airbnb has changed the way people travel since its launch in 2008. The company is now valued into the billions, and many homeowners have capitalized on the idea of turning their vacant rooms into cold hard cash. As long as you have a place to keep company, whether that’s a basement suite or a whole section of your home, you can make hundreds of dollars per month.
In fact, nearly 50 percent of all Airbnb hosts make $500 per month, and some are likely to reach $10,000 if they own a place specifically for renting out to tourists. Photographs are the most important factor in marketing a vacation company, especially if they highlight something unique about your home. All you need to start this business is the app!
3. Home Repair Services.
While you do need some skill in repairing broken objects, most handymen can earn a bit on the side by contracting their services out to homes. You can either contract yourself out to realtors that want to fix up a part of the property, or you could act as a general repairman for homeowners that need a quick fix to their living room, kitchen, or bathroom.
Plenty of home repair service companies make a killing on foreclosure properties because they’re often left in bad shape by the previous homeowner. HVAC companies often started as small home repair services before adding extra staff, trucks, and services that range from electrical and plumbing, but you can always focus on carpentry or small repairs forever.
4. Moving Company.
Do you have a large group of friends that are strong and capable of moving heavy objects up and downstairs? Then you have the building block to start a moving company! Be sure to research moving and transport permits in your state before moving ahead on your business plan because you need legal authorization to move heavy objects in a truck around the US.
After that, most of your upfront costs involve other employees and moving equipment like dollies, boxes, lifts, and trucks. You should also factor in costs like fuel. After you gathered all your equipment, you’ll need to market on social media. Be sure to have a catchy name, invest in a great logo, and create a knockout website.
5. Home Staging and Photography Service.
All homes require staging before selling, and a poorly staged or unclean home can make the difference between selling immediately and waiting months for an offer. Home staging services ensure that homes placed on the market are prepped before photographers, and potential buyers walk through the area and judge your property.
Photographers are integral to the staging experience because a dark or low-quality photo won’t show off a home’s best assets. While both home staging and photography for real estate requires creativity, a professional photographer will have a considerable upfront cost for equipment. However, a photographer will have more opportunities outside the home staging space.