Make no mistake about it, the real estate industry is a very lucrative one to get into if you have the right vision as realtor and I guess this is why it is indeed such as tight-knit market. It’s very challenging to crack and you basically have to make friends with the right people in order to get in to the inner circle, amongst which individuals a big pot of gold is shared.
For example, you can’t just go from taking your exam to fully working in the industry. An established real estate agency has to effectively take you under its wing and nurture you to eventually become part of their “stable”.
I like to use the analogy of the major players in the real estate market clinching their hands so tightly, trying to hold on to the treasures they have, that they leave absolutely no room to receive any more. This is kind of the reason why very few people have any sympathy for the realtors suffering the annual real estate slump – an annual sales slump which realtors could be a bit smarter about working through.
OPP – Other People’s Properties
You’ve heard of the phrase OPM (Other People’s Money), I suppose and basically it entails exactly that – using other people’s money to make small or large incremental profits which you can then keep for yourself. The same can be done by savvy realtors when they are made to be the custodians of the properties they have listed for sale. I mean you have some home-design-ideas-content gold for example if you have access to so many different properties on show, in which case why not start something like a blog and monetise the blog in between what can be the long awaited property sales?
A property standing vacant has so much potential for other monetisation channels to be explored, such as interior design consultations, surveying, and even something like professional photography/videography space put out for hourly rentals!
Building up Confidence in the Best Way Possible
Okay, so I get that perhaps the discussed manner in which realtors could think creatively beyond the real estate industry they know so well may be a bit of big ask for these professionals, so the next best thing (or perhaps even the best thing proper) is to perhaps put their money where their mouths are and invest in the very industry they’re touting. If a property is indeed as good an investment as they claim it is and additionally, if they simply took the time to observe the consistency of market cycle, they could very well get a loan through the likes of Loanable.com, a lending aggregator platform which would perhaps make for a great alternative to long-term financial commitments otherwise traditionally associated with buying a property.
The secret would obviously lie in something like paying off the loan whenever it’s possible to do so at the earliest, coupled with flipping the properties they acquired while the market was down at a time when the market is looking up again.