How to Make Extra Money From Your Real Estate Website

I think we can all agree that times are tough for real estate agents right now. Despite record-low interest rates, home sales are still down. So a lot of real estate folks are looking for ways to make extra money during these tough times. And that's exactly what I'm going to talk about in this blog post.
Specifically, I'll use this blog post to explain how you can make more money from your real estate website, by (A) helping the people who are already visiting your site and (B) partnering with trusted companies online.
Let's say I'm a real estate agent, and I get about 200 visitors to my website each week. Most of the people who visit my site are doing some form of real estate research, but only a small percentage of them will actually contact me for help. It's just an undeniable fact of Internet marketing. Most people who visit my real estate website will just pass on through, without contacting me in any way, shape or form.
But what if there was a way for me to earn extra revenue from my website traffic, for those people who are doing general research into the local real estate scene? In truth, there are plenty of things I could be doing to earn extra money from my website. In this blog post, I'm going to focus on the strategy I think works best for most real estate agents.
Commission Programs for Real Estate Agents
Let's say you a person visits your website when researching the housing market in your area. They are not ready to work with a real estate agent yet, but they might be ready to get mortgage quotes from lenders. If you were a member of a commission program with a trusted lending website, you could send those visitors to that website so they could request mortgage quotes. And if they did request a quote, you'd get a commission for it.
So in this scenario, you are accomplishing the following goals:
- You're making more money from your website, particularly from visitors who were not planning on contacting you.
- You are increasing the usefulness of your website, by providing links to related (but non-competitive) real estate and mortgage services.
- You are guiding people toward trusted companies and websites, because you screened them in advance.
- Most importantly, you are not interfering with your lead generation program. People looking for a real estate agent will not be distracted by a link to mortgage information, home insurance quotes, etc. They'll simply contact you.
Of course, for this kind of commission program to work, you would need a steady stream of website traffic. If you only get a handful of visitors to your site each week, I don't know that I would bother with this. But if you get hundreds of visitors each week, and most of them are not contacting you for your services, then you could create a new revenue stream for yourself -- while helping those anonymous visitors in the process.
What would you need to put such a program in place? Here's a list of the most important ingredients:
- As mentioned, you need a website that gets a good amount of traffic.
- You need to join a commission program, such as the comprehensive services offered by Commission Junction.
- You need to identify advertisers to partner with.
- You need to obtain the creative items for your website, such as links and banner graphics.
When choosing companies to partner with, you should make sure that their products or services do not directly compete with your own. You should also do a little homework to ensure they are reputable companies with solid products. You don't want to send your site visitors to sketchy websites!
Does this kind of strategy work? Well, it depends on the amount of website traffic you have, how well you implement the promotional items, and several other factors. I know some people who do this kind of thing for a living (and a good living at that). I know others who use commission programs as a way to supplement their primary income, especially in times such as these.
Is this kind of strategy right for you? This is a question only you can answer. I'm just putting this out there as something worth considering, particularly if you meet the real estate website "model" I described above.
Labels: Real Estate Websites


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