3 Alternative Sources of Revenue for Brokerages

Brokerages looking to increase their bottom line can turn to technology for options that don't require upping the percentage they take from agents' commissions.

This is possible because of the internet, which has, in many ways, turned brokerages into media companies. Think about it--a brokerage supports hundreds, or thousands, of consumers researching information related to homeownership. You're disseminating information via your IDX or Virtual Office Website, drip email campaigns, digitally generated print material, social media, and so much more.

Within these constant touch points with consumers lurks an opportunity for extra revenue. Here are three tech-centric methods brokers can try to boost their bottom line:

Website Advertising

From Google AdSense to real estate specific options like Aculist or REALM, extra revenue can be as easy as putting paid ads on your website. There's a real opportunity for opening up a respectable stream of revenue here, especially if your website traffic is high.

However, this method is controversial and can easily turn off consumers if not managed correctly. To prevent alienating your audience, avoid intrusive ads that pop-up or autoplay audio. You don't want your website to be garish or off-putting!

Home Services Directory

A kinder, gentler form of advertising is to present promotional, third-party material in a way that's relevant and useful to homeowners. Nest4Less offers directories of home services professionals--plumbers, contractors, electricians, etc.--that embed into your website. This is a way to connect with homeowners--either your past clients or potential sellers--by providing information they need.

Brokers receive revenue share off of every vendor that they get to advertise in the directory. When brokers deploy it across all of their agents' websites, the opportunity for wide distribution and, therefore, revenue increases. To learn more, watch the video below:

Leverage Marketing Opportunities

Nest4Less isn't the only real estate technology vendor that offers brokers revenue share opportunities. As we learned in a live webinar just last week, marketing automation platform Imprev can be used to bring in more income in multiple ways. The solution automatically creates print and digital marketing materials from listing data entered into the MLS. Coldwell Banker West prints advertisements from mortgage companies and other partners on the back of their Imprev listing fliers, earning advertising revenue in the process. HUNT Real Estate ERA offers an "upsell" version of their basic marketing platform from Imprev, earning revenue each time one of their agents purchases the upsell feature.

Lone Wolf's email marketing program, movingWOLF, also offers brokerages a revenue share feature.

These are just three examples of how technology can help brokers boost their bottom line. What methods does your brokerage leverage to earn non-commission revenue? Let us know in the comments below!