Dustin Brome (0:00)

Big team leaders have access to a ton of different revenue streams. But what about the solo agents? Today I'm breaking down some little known income streams that any solo agent could take advantage of. No team required. Let's dive in the Massive Agent podcast with lead generation tips and strategies to get you more leads and sell more homes. I love to buy houses. I like to sell houses. It takes brass balls to sell real estate. Wait a minute. Leads are weak. You're weak. I've had better. Oh, have I got your attention? Now here's your host, Dustin Brome. What is up, everybody? Welcome back to the Massive Agent podcast. The first full week of 2025. What an amazing year it's going to be. This is episode 368 of the massive Agent podcast. I am your host, Dustin Brome here in Salt Lake City, Utah. And today I'm going to be diving deep into the six creative income streams available for solo agents, big team leaders. Like when you're doing a ton of production, when you're selling hundreds and hundreds of homes, there's a lot of additional revenue streams that you can have, like mortgage company, title company, you know, property management, you know, investing deals like, you know, capital funds, all this different, all these different levers you can pull. But for the average solo agent, you may not have access to those things because you don't have the scale to do so. So today I'm going to show you six creative income streams that are available to literally any agent. You just have to learn how to do them, take advantage of them, implement. So before we dive in, something super excited that I need to share with you guys. If you're tired of spinning your wheels on social media and spending, you know, half the damn day creating content and you know, or thinking about creating content and you're. All you're really trying to do is just consistently get business from social, then I put together a very small, very intimate private coaching group to show you the framework to get four to six clients every single month. So stick around. I'll share more details about that later on in the show, but I want to dive in right now. So the six creative income streams for solo agents. The first one, you could charge transaction fees. Now you may look with some of these, you may like them, you may not like them, you may think that's not really for me, totally fine. I'm not saying you must do these things, but my job here is to help you to get it to think creatively because unfortunately, far too many real estate agents, you're. It's A one track mind, right? Like a teenage boy. One track mind with agents. You're like, okay, I need to make money, I need to make a living. How do I do that? Commission, Commission, Commission, commission. Yes, of course, obviously. But is that the only way to make money as an agent? Hell no, of course not. So what are some of the other ways you could, you could add transaction fees on to the deals that you do now you have to have deals in order to charge transaction fees, but it's a way to increase the revenue that comes in per transaction. Maybe it's 300 bucks, 500 bucks. I've heard some teams charge an extra $700 on top of whatever commission that you're charging for the deal. Again, you can, you may not like that. You totally up to you. But that's a way to increase the revenue per transaction that you do without changing literally anything else. You better be able to justify that transaction fee to your CL though, otherwise they may not like it. So number two, a platinum or a VIP buyer program similar to a transaction fee, but there's much more meat on the bone. Like there's, there's much, it's a much more tangible offering that you're giving to your potential buyers where if they upfront, out of pocket, let's say it's $1,000, they'll, they'll invest $1,000 to become one of your elite VIP buyers. And in return for that, they get XYZ, they get, you're going to give them an access, access to like pocket listings. They're going to get home warranties covered by you and like you can add a bunch of things in there and maybe it's the stuff you're already doing and you're just packaging it up, but you want it to be the next level. You want to add a few extra things in. For those who, who want to be buyers or the platinum buyers. Here's what's cool. Yes, it's an additional revenue stream or it can be right. You could just say, hey, that thousand dollars once you actually sell the house, we'll just credit that towards the sale. You could do that as well as a way to like lock them in or you know, keep them from shopping around to other agents or from, you know, wandering eyes. You can look at it a bunch of different ways. I've seen some really great agents and really great team leaders do this where it's, it's in addition to. Right. So for $1,000 they get like a two year home warranty that's included. They Get a few other things and they're like, that makes sense for a thousand bucks. That seems like great value. And I mean, who doesn't want to be a platinum member of something? A lot of people do. A lot of people will pay for premium. So you could have some sort of VIP Buyer program if you're part of my massive agent business accelerator. We, we really dove deep on this concept and I had some examples in there. We're going to be relaunching that soon. So. But if you are a, if you have gone through the accelerator in the past and you want to learn more about the VIP Buyer program, we have the whole framework in there and it's a great option for any agent who's selling houses. Number three, revenue share. Now, not all brokerages offer this. I believe revenue share is one of the best inventions or one of the best things to happen to real estate agents since the iPhone. I mean, revenue share is a great additional optional way to earn income that's not tied to your, your personal production. So, so that's where it's really cool is, I mean if you have a slow four month period where you're not selling anything but you have some revenue share because you attracted, you know, you helped a few other agents who are friends of yours join your brokerage, but they're selling houses, you can still share in the revenue whenever they're selling houses. The brokerage will cut off a piece of revenue whenever those homes are sold and share it with you because you brought them to the company. There's only a handful of companies that even offer revenue share. My company does, for example, my, my former company and a few others. So it's an option and here's why I'm bringing it up. First off, if you, if you're part of something that you love, if you're with a brokerage that you love, you're naturally going to share it, right? Like some great new restaurant you discover, you naturally tell your friends a great movie you saw or some, something new on, on Netflix, you're going to share, you're going to share that. It's no different. So if you are with a great brokerage and it's helping you to do more business, it's helping you to be more efficient, you're having fun, you're meeting great people, you're naturally going to share that with other agents. So if that's the case and that, and you're bringing agents to your brokerage with my, just to give you some exact numbers with my brokerage, for example, for every capping agent that you bring to the company, right, an agent who sells enough homes to hit their cap. And at my company it's $12,000 for the year they sell enough homes to hit their cap. That means four, up to $4,000 in revenue share for you per year per capping agent. So to make $1,000 a month in revenue share, you need to attract three capping agents to the company. That looks different at other companies. The numbers vary. But like how cool is that you attract three or four or five of your friends over time. And now that, that's, that means another thousand plus per month in revenue share to you as long as they're selling houses. So that's in addition to you selling your own houses. That's what I love about it most is it's leverage. It's, it's, and it's optional. You don't have to do this, right. In fact, I think it's 11 or 12% of my brokerage, maybe it's like 15. Only about 12 to 15% of my company even takes advantage of revenue share. So most agents who are here, they're not, they're not recruiting and attracting agents either. They're just here to sell more houses. So you don't have to take advantage. But if you do, it's a big opportunity and it can for some people, myself included, it's become a significant full time income when you, when you devote some time and effort into it and you attract some great people, of course. So before I get into number four, I'll take a quick minute just to tell you more about what I was teasing in the beginning. Right. This new private coaching group that I'm putting together, it actually, it launches Friday. So like depending on when you're listening to it, it launches right now, Friday, January 10th. So if you're hearing this afterwards, it's not too late. You can join and we have the recording for you. But don't wait too long cause you want to be in these live in the live trainings. So this is where I'm, I, in this small coaching group, I'm keeping it very small, like 15 agents or less. It's where I can work directly with you, like one on one, helping you to build a social media strategy that actually generates clients, not just gets more followers, not just gets more views, not just, you know, it's not just to make you feel like an Instagram influencer in, in fact, like it's a real business. It doesn't matter how many followers you have, even like so one of our members, Nikki in Iowa, she put nine homes under contract in the first 45 days after going through this coaching group. The first 45 days, nine homes under contract. And I think she had like 400 Instagram followers or something. Not an influencer. And then Brian, a brand new agent in Canada, I think he had 120 Instagram followers, brand new agent within two weeks, got his first client from social media following this framework. So it works. Spots are filling up fast. We kick off January 10th. To find out more, just go to massive agentsociety.com social or you can go to my Instagram and message me the word client. Right, message me the word client on Instagram and I'll send you a link with all the information, all that good stuff. So go check it out while there's still spots available. And if you're hearing this, there are still a couple spots. So let's jump into number four right on this list of the six creative income streams for solo agents, number four, referrals. When you, I think most agents know that like if, if you happen to have a referral come your way, of course, refer it off to a great agent. When they sell the house, you get a referral check out of the blue. Amazing, right? So it's in a way, it's passive income. It's not based on your personal production. You're giving business to someone else, they're closing the deal and then they're sending you a piece back. That can be a legit business model as well. I, I know one of the guys who went through my, my massive agent society years ago. He launched a podcast, a direct to consumer podcast. I think it's called how to buy a house. And his name is David. Absolutely crushes it with referrals. I mean last time I talked to him about this, he was getting, I may be getting this completely wrong. So David, I apologize. I think he said he was getting like 40 leads a week, like incoming people saying, hey, I need help. I need to find an agent in Sacramento, I need an agent in New Orleans or in Tulsa. And because they listen to his podcast to educate themsel about the buying process, he's now an expert. He's. And they come to him, they're like, hey, who do you know over here? And so like he create, he basically created his own like Dave Ramsey ELP program, if you will. So he has partner agents all across the country and he's able to just refer out like dozens of deals every month. That's pretty incredible. So referrals and, and you know, put it out there on social. I think every agent should do this. Let your network know through email, through social, and then even like face to face. Let them know that if they ever, if they ever need an agent in another market or if they know someone who's moving to another market, you have a giant network of agents and you can connect them with somebody. Great. Because what most people don't know professionals in other, in places they don't live. Right. I'm in Salt Lake City. I don't know who the best plumbers in Sioux Falls are. I don't know the best plumbers in Orlando, Florida. I don't know a great contractor in, in, in Maine. I have no idea. But I do know who some great agents are in all of those places. So wouldn't that like my network, my connections be a big value to the average consumer who's maybe moving to a different market and they have no idea where to start. So advertise the fact that you have a large network of agents and hopefully you do. And you may, you may find someone come to you and they're like, hey, you know what? Like, my cousin just got a job transfer. They're moving from New Orleans to Boise. Do you know anyone in Boise? Because they don't. And as long as you do or could find someone, you can introduce an agent and boom, there's a referral. So referrals can be a legitimate, like, substantial business and revenue stream if you focus on it. So I recommend you all let your networks know in multiple ways that you're not just there to help them in your market. You can help them find an agent elsewhere as well if they themselves or someone they know needs an agent in another market. Number five, stock. Now again, you have to, you have to be with a publicly traded real estate brokerage. And even still, you have to be with one of those who give stock awards. But there are companies like mine, my previous one, and a couple others that they will give you stock. They will award you stock for selling houses. You sell enough houses, they'll give you a pile of stock. Like in my company, if you're selling like 30 homes a year, ish, depending, I mean, you can get 16 to $24,000 worth of stock awarded to you. Just you're, you're selling the houses, you're earning all the commission. Then as a bonus for selling that many homes, here, here's another 16,000 bucks worth of stock. Like, so that can add up pretty quick over time. So if you are looking At a new opportunity, looking at a new brokerage, looking at joining a team, I would factor in, is there the ability to get company stock awarded to you as bonus? And if so, factor that in because that can pile up over, over years. If you stay there for a long period of time and you sell a bunch of houses, that could be hundreds of thousands, if not millions of dollars. So stock from your brokerage could be a great way to build a nest egg for doing what you're doing anyways, which is selling houses. Number six, start a course or a webinar. There's a lot of agents who will do like first time home buyer webinars and that's cool. But what if you created a course and what if you charged a hundred bucks for it or 500 bucks or what, whatever it is, and then you have all these people and look, it doesn't. If you come up with a course on how to buy a house that, I mean you could be marketing that nationwide. It doesn't necessarily have to only be for people in your area. They could be, you know, people would pay to take your course or buy your ebook or your webinar or whatever, but an info product where you're taking your expertise, packaging it up and you know, letting somebody digest it in a self led way, they'll pay you for it. Which could also then lead you to getting referrals or getting actual business. Once they go through it and they're like, okay, I'm educated now, I need an agent. And boom, there you go, right? So starting a course or launching a course, a webinar, some sort of like ebook or digital product where you're packaging up your, your knowledge and expertise and selling it. It's another great, great option for agents as well. So before we wrap it up, I want to remind you of the clients from social media Coaching group. If you're serious about using social in 2025 to actually get business right, not just to build your vanity metrics, not just to get more followers, not just to get more views so that you're like, look at all the views I got on my reel. If you want actual freaking business from social, this is your chance to work with me directly in a small group setting. I'll show you the exact framework to make it, to make it work for you. I'll show you the exact framework to turn your posts into profits even if you think you suck at social right now. Okay, Spots are very limited. We kick off on Friday the 10th, so don't wait. Go to massive agentsociety.com social or DM me the word client on Instagram. Let's actually make this year your best year. Let's. Let's not just say it for the first week or so. Let's not just put it on your wall and be like, this is going to be the best year. Take the freaking action required to make it the best year ever. So part of that is you need great tools in your tool belt. I recommend Keeping current matters. KCM is. You should absolutely have KCM in your tool belt as an agent. Be the advisor your clients trust with Keeping Current matters. KCM gives you easy to understand market and housing market insights and, you know, analysis, if you will. That's a fancy word. Ready to share graphics scripts to keep you looking like a pro and an advisor in front of your clients. You can try KCM for free right now@try kcm.com Bam. And then Bam X. Level up your business with Bam X courses masterminds, a network of ambitious agents ready to push you higher that you can collaborate with on a regular basis, which literally could be the only thing you're missing is just a network to build a business with. Join today over@nowbam.com and use code MASSIVE for a discount on the membership. I appreciate you being here today. Please share this episode with somebody who needs it. Somebody that if you learn something today, you know there's other agents out there that are just a step or two behind you. So share this on social. Mention it to somebody. Text it to your friend. Help us grow the audience of this podcast. I'd appreciate it. They would appreciate it. The industry would appreciate it. I'll be back next week with another great episode of the Massive Agent podcast. Have a great freaking weekend. Enjoy 2025. Now that we are in it, now it's time to do the work. See you guys next week.