I just received a call yesterday from a newer member of our real estate websites and publishing system BusyAgentpro.com. This lady was telling me that her market had dried up and everything was basically being foreclosed in her area and she thought she was going to have to get a part time job to keep income coming in. Although, I would never hold it against someone or tell them it was wrong to get an extra job out side of real estate to put food on the table, it always makes me wonder how committed we are to this industry when i hear things like this and believe me I have heard this on many occasions. If for some reason your market really is dried up, which very few are in reality, there are so many other ways to produce income and remain in the real estate business until the market comes back. Here are a few of them:
1. Do some BPO’s
2. Buy some of those foreclosures yourself and fix or flip for a profit, or hold onto them and rent them out. The rental market is pretty good in most down markets
3. Find a real estate specific affiliate program you can promote such as BusyAgentPro.com. We have people making thousands of dollars each month just promoting our BAP program and there are other programs out there as well.
4. Learn how to do real estate auctions and help a few FSBO’s auction their home for a fee
5. Call everyone in your database and ask them if they have ever thought about investing in real estate and show them some foreclosures.
6. Last and most important, keep working your marketing program, the market may not be as bad as you really think and in fact usually isn’t:)