Three clients asked me this last week, likely because existing home sales just dropped even further.

 

(Hopefully, the .5% rate cut reverses the trend)

 

Pretty much everyone in the home services niche is feeling the pinch, and when lead costs go up with revenue down, strategic partnerships are typically the answer when you've maxed out how much prospecting you can do alone.

 

Your database as a real estate agent is very valuable. Here are a few professionals who would benefit from exposure to it.  

We tell our clients to shoot a 30-second endorsement for their paid sponsor, which we then edit into all their videos. You do it once and you're done.

 

You can charge your sponsor any price you want.

 

Create a simple advertising agreement, review it with an attorney if the sponsor is subject to RESPA, and pitch it to one of the businesses above.

 

Here's an example of a client who endorsed his independent insurance agent:

 

 

Here's another example where a client endorsed his general contractor:

 

  

They are likely getting paid for their recommendation.

 

Clients also sell access to their database to complementary businesses for a flat monthly fee. For example, invite your mortgage person into your CRM and give them a list of people to call using your name who may need a loan. 

 

Don't have a call list for your mortgage person?

 

Send out a video about the recent Fed rate cut, then give them the "clicks" to call. You can also send out an email with an invite for people to request a free mortgage rate quote on our website. Let them use your name when they call.

 

Here are the dollars and cents of this...

 

After the build fee, our service will cost you $725 a month for a year. Charge $363 for an endorsement in your videos and $363 a month for access to your database, and you've zero-costed our monthly implementation fee.

 

There's my answer.

 

Please remember to have this all reviewed by an attorney with anyone subject to RESPA. I suggest you lean on the in-house attorney of your sponsor.

 

If you sell 25+ homes a year, plenty of sponsor money is out there if you ask for it. You're in the top 5% of agents, maybe less. This will give you fixed revenue to smooth out the stress of fixed expenses on variable revenue. 

 

An open secret: The most profitable real estate teams get money on the side from vendor affiliate deals, broker revenue share, coaching, vendor sponsorship sales like this, speaking fees, title joint ventures, and more. 

 

Don't think you can't do it. You can. It's uncomfortable at first asking for real money beyond the signature on a listing agreement, but when you do, it opens up a whole new world of revenue streams for you.

 

Call someone today and say "Can I promote you to my database of homeowners, buyers, and sellers to help you get more clients? When can we talk?"

 

Frank

 

P.S. If you're a real estate agent here are more suggested vendors with interview topics if you'd like to make a full video with them:

 

Property Manager - "How do I know what my home will rent for today?
Home Remodeling - "What remodeling projects provide the best ROI?"
Financial Advisor (RIA) - "How do I avoid capital gains on my home sale?"
Solar Install - "How does the ROI of installing solar panels work?"
Home Warranty - "What pitfalls should you avoid with a home warranty?"
Mortgage - "How can I get a lower rate on my mortgage?"
Home Inspector - "How do I prepare my home to pass an inspection?"
Title - "Is paying $1,000+ for title insurance worth it today?"
Insurance - "What happens if your insurance company refuses to pay?"
Pest Control - "What are the worst household pests locally I need to stop?"
Investor - "When is a cash offer preferable to a traditional sale?"
Builder - "Where are affordable brand-new homes being built today?"
Politician - "What legislation should I be worried about as a homeowner?"
Security - "What's going on with reported crime rates locally?"
Senior Care - "What are the steps to transition to long-term care living?"
CPA - "How can I maximize my tax deductions as a homeowner?"
Landscape - "What's the lowest-cost way to increase my curb appeal?"
Pool Cleaning - "Does an in-ground pool add or subtract value from your home?"
HVAC - "How can I lower my increasing gas and electric utility bills?"
Plumber - "Why are plumber's prices all over the place on quotes?"
Tax - "How can I protest my property taxes to lower my assessment?"
Appliance Repair - "What are the most durable appliances to buy for my home?"
Home Staging - "What is the #1 home decoration trend right now?"
Pressure Washing - "Will pressure washing ruin my new concrete?"
Window Install - "When is it time to install new windows on my home?"
Lawn Care - "What does year-round proactive lawn maintenance cost?"
Maid Service - "How do I find a great home cleaner I can trust?"
Locksmith - "What is the best modern lock for my home's front door?"
Holiday Lighting - "How much does it cost to have the best holiday display?"
Home Restoration - "Help! I had a fire or flood in my home, now what?"
Roofing - "How can I get my insurance to pay for a new roof?"
HOA - "Will my building or community see a special assessment soon?"
Divorce Attorney - "What happens to my family home in a divorce?"
Bankruptcy Attorney - "What happens to my family home in bankruptcy?"
Estate Attorney - "What should I do as a loved one's estate executor?"
Credit Repair - "How do I quickly fix an incorrect credit report?"
Private School - "What are my options for school choice locally?"
Garage Door - "How can I know I always shut my garage door?"
Moving Service - "What are all my home moving options today?"