The value of additional income streams

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The value of additional income streams

In an age of diminishing stock and increasing competition many agents have been left wondering what can be done to safeguard their income levels. The good news is that there are plenty of new income streams as well as older ones which have simply been overlooked. “Switched On” Estate Agents have long since converted the odd bottle of wine from solicitors and the free lunch here and there from surveyors into a regular income, with a major uplift in turnover.

Trained staff create more income

Estate Agents who have recently added a lettings department would be wise to make sure that they are not missing out on many of the add-ons long associated with the lettings business. You and your staff should be closing for every bit of additional income you can get, every time.

Even if your Estate Agency is “doing well” it makes sense to ensure that you earn every penny out of every transaction possible. This will allow you to invest more into you business and keep you ahead of the competition.

Get paid for your referrals!

With a proper referral system in place which is consistently tapping into all available income streams you could earn between £200 and £300 extra per deal. This would represent pure profit to your business as there is no outlay before you start earning.

This is all before we even consider buyer representation which is a whole other story….

About the Author:

Founder and Managing Director of EAanalytics. Over 15 years experience of managing successful teams of Estate Agents. Now applying that experience to help others grow their business.Need some advice? You can now schedule a call with Chris via Clarity - Click Here

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