The real estate market typically cools down during the fall and stays calmer until spring. That's when most real estate agents have more time on their hands — and less money from sales in their pockets. But that doesn't mean you have to slow down during the colder months. Some real estate specialties remain active and profitable this time of year. Here are some professional niches to consider this back-to-school season.
4 Booming Real Estate Specialties
Picking a real estate specialty lets you focus on a specific sector of the market. As you devote time to learning the ins and outs of that niche, you'll get really good at it. If you're just starting your real estate career, look into these money-making specialties while waiting for the market to heat up in the summer.
1. Rental Agent for College Students
As a rental agent specializing in student housing, it would be your job to scour the local rental market, arrange visits to the unit, and walk students through the sometimes intimidating and disorienting process of signing the lease.
Consider advertising your services on campus (think corkboards) and on college media channels (newspapers and social media). You could also reach out to the housing or student services department so you can get connected with students struggling to find a place to live.
2. Property Management
There's more to being a real estate agent than working with buyers and sellers. You could help property owners find suitable tenants. From advertising the unit to screening applicants, giving tours, and coordinating the lease signing, you'll have your hands full — and receive a nice cut of the rent.
Then there's also the day-to-day tasks of being a property manager. You'd collect rent, handle repair requests, ensure tenants follow property rules, conduct final inspections before tenants move out, and so much more.
It's a niche that's in demand because nearly a third of Americans rent. Whether you're in it for the long haul or just hoping to make extra cash until the sales market picks back up, property management could be ideal for you.
3. Leasing Agent for Short-Term Rentals
Some pockets of the country see an influx in tourism and short-term stays during the fall and winter months. For example, the Pocono Mountains in Pennsylvania are a popular destination for lovers of skiing and other winter sports.
If your summer was too busy with residential property sales, now could be the time to jump into the short-term rental market. Work with owners to list, stage, and book the property to groups of travelers. There's a lot of money to be made in short-term rentals — for owners and leasing agents alike.
4. Last-Minute Residential Sales
While families tend to stay put and not buy or sell a home during the school year, there are always exceptions. For example, families with kids who have to relocate last minute for work. Whether buying or selling, these families usually need the process to happen very quickly. After all, they have children to enroll in school and want to get settled in right away.
That's only possible with the help of an expert like you. If they're selling, they need an agent who can make their listing stand out so it can go off the market quickly. If they're buying, they need an agent who understands the market and can make an offer the seller will accept promptly.
It's challenging, but so rewarding!
Jumpstart Your Real Estate Business Today
Back-to-school season is the perfect time to get your real estate license. You'll have time to explore these money-making specialties before the residential sale craze takes off in the spring and summer. And with Aceable's fully online real estate license program, you can take classes at your own pace to fit them into your schedule.