Recruiting As A Source of Income in Real Estate

Published Friday, September 21, 2018

Recruiting for Dollars

One thing all real estate professionals learn right away are the things they can do that produces income.  There are six basic sources of income producing activities.  Most agents focus on 4 or 5 of them but tend to overlook an important one.

Here’s the list …

First, of course, is working with buyers.  When you help them find the right property and the transaction closes successfully, you have a payday.

Number 2 is representing sellers.  In other words, listing property for sale.  Once a buyer is found and all the promises are kept and the keys are turned over … bingo, a paycheck.

Number 3 is helping renters find a home, or commercial space.  Your fee is typically a percentage of the rent and you often get paid a little faster.

Number 4 is representing the landlords who are looking for tenants.  Rental properties are often listed in the MLS and the seller pays a fee for a good renter.

Number 5 is placing referrals.  If you have a buyer or seller interested in property outside your marketing area, it makes good sense to refer them to a local agent and get a referral check.

Number 6 is the one that’s often overlooked … RECRUITING  … that is attracting agents into your company.  Most real estate companies pay for recruits a number of ways.  Some will give you a nice cash bonus.  Other companies allow you to share in what’s called the “Company Dollar” which gives you a percentage of the money the recruit earns for the company.  Others have outstanding profit sharing programs.  Still others allow you to actually create a “down line” much like multi-level marketing programs that provide income continuously even when you retire from brokerage.

Agents come in contact with dozens of people each week and many of them are unemployed or underemployed.  Just suggesting that they might investigate a career in real estate can be a life changer for them and a source of income for you.  Don’t overlook recruiting as a way to make some dollars.

A career in real estate starts with a license and Your House Academy is happy to award a $25 Amazon gift card to anyone who refers a student who enrolls in our course.

 


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  • Meet the Author: Vince DePaul


    Vince DePaul Vince DePaul is Director of Your House Academy. Vince began his real estate career in 1976 and is a real estate broker and a licensed real estate and continuing education instructor. He has taught real estate at College of DuPage in Glen Ellyn, Illinois, and Oakton Community College in Des Plaines, Illinois for several decades. For ten years he produced and hosted a weekly, live call-in radio broadcast in Chicago called “Your House” where he was known as “Mr. Real Estate.” In 2015, Vince received the prestigious Educator of the Year award from the Association of Illinois Real Estate Educators (AIREE). More about Vince »

A REALTOR® is a licensed real estate agent who is a member of the National Association of REALTORS®, (NAR) the largest trade group in the country.

Every agent is not a REALTOR®.  You become a REALTOR® after you pass your real estate course, pass the state license exam, join a real estate company and then join the National Association of REALTORS®.

According to the NAR, the term REALTOR has one, and only one, meaning:
"REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics."

Michael Fair, President and Director of Your House Academy is an NAR member.