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Are you maximizing the income potential of your real estate business? If not, you're missing out on opportunities to create passive income streams that can significantly boost your earnings. Here are three effective strategies to generate additional income beyond commissions:

1. Revenue Share 📊

One way to create a passive income stream is by joining a brokerage that offers a revenue-sharing program. These programs reward you for bringing new agents into the brokerage. As these agents close deals, you earn a percentage of their revenue. It's a great way to leverage your network and experience to build a steady income stream without additional effort once your recruits are active.

2. Ancillary Services 🧾

As a real estate agent, you constantly refer clients to other service providers, such as mortgage brokers, home inspectors, and contractors. Why not become one of those service providers yourself? By offering ancillary services, you can capture additional revenue from every transaction. Whether it's partnering with these vendors for referral fees or establishing your own ancillary services, this approach can significantly boost your income.

3. Real Estate Investing 🏡

Investing in real estate is one of the best ways to create long-term wealth. As a real estate agent, you have unique access to market insights and lucrative deals. By investing in properties yourself, you can build a portfolio that generates passive income through rental properties or appreciates over time. Put your money where your mouth is and take advantage of the opportunities you come across daily.

By incorporating these strategies into your business model, you can create multiple income streams that complement your commission earnings. Start leveraging your resources and expertise today to build a more robust and profitable real estate business.