Are you thinking of business ideas in real estate as your next venture? The real estate industry is a super lucrative business opportunity because there are so many different avenues that you could take.
Take a look at these 24 business ideas in real estate. These real estate business ideas will range from being solely online, from a technical point of view, and in-person roles.
Here are some other tips when it comes to mastering real estate also if you are planning on buying real estate for personal use or looking for investment properties, there are some things you should know.
If you are leaning more towards the commercial real estate industry, here’s some ideas on how to make money with commercial real estate.
Here are some of the most direct business ideas in real estate.
Become a Real Estate Broker
A real estate broker is above an agent. Typically the broker has more training and education and can work independently while agents work beneath them. Each state has different sets of rules when it comes to the real estate industry. The broker’s salary depends on the percentage of commission charged to the customer who hired the agent. Typically the broker gets half the commission. The agent’s pay is split between the seller’s agent and the buyer’s agent.
Real Estate Agent
As mentioned the agent typically works for the broker or a brokerage firm such as larger companies like Remax and Keller Williams. A real estate agent makes their money based off of commission and typically needs their own clientele. Marketing will become a big factor and building your client base so that you can land referrals.
In order to become a real estate agent, you will have to attend a course, take an exam and pass in order to become licensed. All state requirements vary in the licensing process so be sure to check with your skate prior to apply.
Some real estate agents find it helpful to hire a virtual receptionist who specializes in real estate, such as the virtual receptionists you’ll find at Nexa.
Real Estate Investor
If you have access to larger sums of money you can become a real estate investor. Some investors like to get involved. However, others are more like angel investors. Typically individuals will find investors to put up the money for the property in order to flip it or to obtain it with strict terms of percentages, payback, interest, and terms. Investors that are more hands-on may cut you in on the commission if you bring them a property that could be profitable. In other words, you could get a finder’s fee.
Flipping houses and properties have been gaining popularity especially after the shows have aired on TV which portrays what a large sum of money can be made if the conditions are right. In order to become a successful property flipper, you will need access to larger amounts of money or an investor and be able to do research to determine if the property is actually worth investing in. There will also be another decision. Will it be a wholesale flip? This means it would be a sale as-is to another investor. Or the flipper might remodel it and resell it to the eventual homeowner.
People usually base these decisions off the numbers and how much profit and risk they believe each choice holds.
Real Estate Investment Club
Real estate investment clubs are typically small groups of people who invest money together. They do this in order to purchase real estate they might not otherwise be able to afford. One benefit of an investment club is that the all of the members share the risk equally. Most of the time, there are membership dues. Usually, the majority makes the decisions when it comes to learning more about a particular piece of property. The majority also generally has the final word on the investments.
Real Estate Marketing
If you have a knack when it comes to sales and marketing you could partner with agents, brokerages, property management companies, and individual investors to promote their business in order to gain more leads for the industry that they are in.
This includes digital marketing, traditional marketing, providing an overall strategy in order to increase ROIs, and possibly printed materials.
Real Estate Photographer
If you have some experience as a photographer and have a passion for Real Estate or drone photography this may be the right business idea in real estate for you. Aerial and drone shots are a huge selling point. This is especially true when the land should be showcased.
Also, the interior pictures really sell the properties. So hiring a professional is the best decision on the agent and owner’s part. If you can gain the skills and become an expert you would likely be able to form a partnership with the brokerages. This would give you access to landing monthly retainer clients.
Online Business Ideas in Real Estate
Most online businesses are going to require you to have a website. Before you grab a domain name you will need some sort of hosting service. We recommend Siteground or Bluehost, especially for beginners. Both providers offer great customer support. They can lead you in the right direction when it comes to setting things up. During the setup of the hosting process, you will have the opportunity to pick a domain name.
Other resources you will need when it comes to starting a website, blog, or creating a course is a graphic software. Canva is very easy to use. The learning curve is at a beginner’s level, and with the Pro version you have access to paid images. This makes a huge difference because most people sign up at the free level, so this will be your chance to stand out.
Real Estate Blogger
Blogging in itself has become increasingly popular over the past 5 years. The real estate blogging industry is a very lucrative business. This is because individuals look to the internet for answers before they buy, sell, or make any big investment decisions. This could be how to get top dollar for their home, or how to sell the property themselves.
You could also cater to agents and brokers. For example, they could give you productivity tips, ways to get more leads in the real estate industry, and how to take the best photos in order to make the property sale.
All of these ideas would require a website. Then you would need some keyword research, minor tech skills, and knowledge in the real estate field.
If you know anything about blogging and ranking in the online world, for example, try to get on the first page of Google. You know you will need some experience in SEO, search engine optimization. Keysearch is the BEST tool to do this. It’s super easy to use, very self-explanatory, and CHEAP when comparing to other SEO services. By using my link, you will get 20% OFF when using the code KSDISC!
Real Estate App Developer
I think it is safe to say that there’s not one real estate app that has it all. Each application has its own benefit and it usually comes down to personal preference on which one they use. However, if you have an innovative idea and the knowledge or can form a relationship with an app developer this could be a huge moneymaker in the future
This term and business avenue in real estate means that you do all the research and investigative work in order to find properties that could be a substantial investment. This includes searching online records, cold calling, and mailing, driving around and looking for abandoned properties then following up with research to find the owner, along with other tasks if you already have an investor you work with.
Some bird doggers get paid depending on the information they bring to the investor. Others may get more or a bonus if the deal becomes successful.
Creating a Course or Class About the Real Estate Industry
If you are already well-versed in the real estate business you could very easily create a class or course about the topic. Then you could and sell it online or offer in-person communication.
Obviously the online option would be the cheaper way to go because left overhead, no rental space expenses, no physical materials needed, and people may be more likely to sign up because they do not have to leave their home.
These course ideas could be how to start flipping homes, how to become a real estate agent, the industry’s best tips on getting more leads and more sales, or even tips on how to study for the real estate exam and pass on the first time.
Real Estate Podcaster
People are leaning towards podcasts these days because while they are always busy and communing but still listen to their education. Podcasters make money by leading people back to their website/blog or gaining sponsorships. This would probably take a little longer to get off the ground but nevertheless a great business idea in real estate for the future.
Service-Based Business Ideas in Real Estate
Property management is the process of owning your own company and managing properties. This could be a rental home, vacation home, or even apartment complexes and businesses.
You as the property manager would be in charge of accepting the rent, taking service calls, showing the property if you needed a new tenant, taking care of any disputes that may occur about the property, and maybe even marketing to get more people to pay your fee in order for you to manage their properties for them. Learn more about launching a property management company and tips to get you through your new startup as a property manager.
Real Estate Appraisal Service
In order to become a real estate appraiser, you would need to complete national coursework. They also have a national board that is industry-regulated in each state. After completing the coursework you must also complete 1000 hours of work experience under the supervision of a licensed real property appraiser in no fewer than six months. You may obtain your license after you complete everything.
Real Estate Inspections
While there is a lot to learn about inspections in real estate there is no governing board or certification required. However, you will want to be insured and well-educated. You also need to be able to build your business network in order to gain referrals, and you should have a marketing plan in place.
Industrial Cleaning Service
if you offer a cleaning service you could work for a property management company or foreclosure company. These companies regularly need a home cleaned prior to its being remodeled or lived in again by a new tenant.
This is also the case for landlords before allowing someone new to move in. If you wanted to go to the commercial route you could start a contract with commercial companies cleaning and offering monthly maintenance.
Home Staging Service
Statistics show that house hunters have a hard time envisioning a space when there’s no furniture in it. It also proves that if there’s too much clutter homeowners cannot see themselves living in that space or having enough room.
Oftentimes real estate brokerages or agents may hire a home staging service to increase the home appeal. You may also offer your services then allow the buyers to be able to purchase your staging props if they would like.
Almost every real estate transaction involves moving. So obviously a moving company is on this list. Since you wouldn’t need any more equipment than a truck and dollies, this could be a good side hustle. You could also turn this into a future business once you have the capital to hire employees.
Home Repair Services
Many times agents will offer their advice to homeowners about small repairs that could increase their appeal and value. If you can form a relationship with brokers or agents you may be at the top of their list to call when it comes to remodeling and punch list services.
Foreclosure companies often need contractors for punch lists prior to putting the home back on the market as well.
Clearly you would need to have experience in this field or at least form a team that has this knowledge. You could also become the go-to contractor for property management companies if you have a reputable name for yourself.
Landscaping and Lawn Care
This is another service that agents and brokerages usually recommend to their clients. Also in the commercial industry, all restaurants and businesses need lawn care completed so you may be able to land a contract with larger companies.
Trade Skill Services
All trade skills could be used in real estate including plumbers, electricians, painters, concrete and excavation companies, along with HVAC specialists, handymen, and general contractors. Again, forming a strategic alliance with established real estate companies will be the way to get in in order to have monthly retained clients and future referrals.
Real Estate Developer
While there is no single path to become a real estate developer it would be wise to have a real estate license and or/a background in real estate, business, or finance.
Real estate developers are responsible for scouting land for projects, negotiating deals, obtaining permits and basically taking the real estate idea on paper and putting it into place in real life.
Other Business Ideas in Real Estate
Becoming a Landlord
If you yourself are moving and are wishing to keep your home as a rental investment, becoming a landlord may be your next big business venture in real estate. If this is not your case but you have capital and want to invest, becoming a landlord can reel in big bucks on a monthly basis.
You would need to take into account the location, the size of the home or business, and what condition it is in. Additionally, you need to consider if you are willing to uphold your landlord duties.
Hosting as an Airbnb
Maybe you have extra space in your home or you’re looking for a roommate. If not, you can always use your rental properties as Airbnb.
Airbnb is becoming increasingly popular due to the experience and culture and is quite different from your typical hotel.
This idea is especially great if you live in a metro area where there is a lot of tourism. This would also work well in a popular city that people visit on a regular basis for its opportunities.
With all of these business ideas in real estate, you will have multiple avenues to choose from. You will also have the option for multiple types of revenue streams!
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