How Real Estate Agents Can Earn Money Between Closings

Real estate income comes in bursts. A new agent can go months between closings, and even experienced agents have slow seasons. Meanwhile the MLS dues, license renewal, and gas bills keep arriving.

The good news is that a license lets you do paid work that doesn't depend on closing a deal. Here are the options that make sense for most agents, what each one pays off in, and how to get started.

Cover showings for other agents

Busy agents regularly have showings they can't make: double bookings, closings that run long, out-of-town buyers who want to see a house today. Covering those showings is one of the simplest ways to earn between deals, because you're doing the same work you'd do for your own buyers.

What you get:

• Short, flexible jobs. A showing is usually under an hour including the drive, and you choose which ones to accept.
• Reps. New agents get comfortable with lockboxes, neighborhoods and buyer questions fast.
• Relationships. The agents you cover for remember you, and many send referrals or bigger opportunities later.

On Shō, the posting agent sets the amount up front and you see it before you accept. Payment is collected when the request is posted and released to you after the work is confirmed complete. Standard accounts keep 77% of the posted compensation, and Shō Pro lowers the platform fee for agents who cover regularly.

Host open houses

Listing agents often have more open houses than weekends. Hosting for them gets you paid time in a house full of buyers, many of whom don't have an agent yet. Agree in writing beforehand on who owns those leads. Some listing agents are happy to let the host keep unrepresented buyers, and some aren't.

There's a full checklist in Hosting an open house for another agent.

Rental showings for property managers

Property management companies need someone at every rental showing, often on short notice and on evenings and weekends. Rental showings are quick, repeatable, and a steady way to fill gaps in your calendar. Managers prefer licensed agents, which makes this a natural fit.

Broker price opinions (BPOs)

Lenders and asset managers pay for broker price opinions, which are valuations prepared by a licensee. They take some setup (getting onto vendor lists, learning each company's forms), and each company has its own requirements.

Referral fees

If you can't help a client yourself, say because they're moving out of your area, referring them to an agent who can usually earns a referral fee when the deal closes. It's not immediate income, but it costs you one introduction. Referral fees are typically paid broker to broker.

Before you start

1. Give your managing broker a heads-up. Most brokers are glad to see their agents earning between deals, and many have a preferred way to handle outside work.
2. Keep your license active. Covering showings and open houses is work for licensed agents.
3. Track it for taxes. This income is usually self-employment income. Keep records of each job and set money aside for taxes.

For how payment works when you cover for another agent, see Can you pay another agent to show a property?

Frequently asked questions

How can a new real estate agent make money fast?

Covering showings and hosting open houses for busier agents is usually the fastest route, because the jobs are available now and use skills you already have. Rental showings for property managers are another quick option.

Is covering showings for other agents worth it?

For newer agents, usually yes. You get paid, build experience, and meet agents who can send you more work and referrals. Experienced agents tend to do it selectively, during slow weeks or for agents they already work with.

Should I tell my broker I'm doing showings for other agents?

Yes, it's a good idea. Most brokers are happy to see agents earning between deals, and many have a preferred way to handle it.