All Forum Posts by: Thomas Price

@Account Closed, I had a very similar thought when I was compiling the list of possibilities.  The ultimate goal, right now, is for the more consistent revenue generators to cover our monthly fixed costs.  The ones you mentioned were the ones that I put more value on for that exact reason.

Bookkeeping is the current focus because I am revamping our team's systems & hiring virtually to keep costs down.  Most of this is already in place, so the plan is to begin offering the platform to other teams/agents with some level of monthly coaching around their Chart of Accounts & expenditures.

@T.J. Ferguson, Wow, this is a ton of fantastic information.  I really appreciate you taking the time to run me through all this.  I may reach out a little later to talk a bit more if you don't mind.  You obviously know exactly what you're talking about.

@John Warren I appreciate that.  We currently have a Title Company and that is going extremely well which has led us to look into other options.  Others that are on the list currently are Mortgage, Property Management, and Bookkeeping services.  Insurance happens to be is the one that I know the least about currently.

That makes sense about the renewal commission, I appreciate your insight.

I run a large Real Estate Agent team and have started to invest in supplemental companies in order to increase income through the same activities. I am beginning to reach out to the insurance agents that I know to hear about how they spend their time, AND would love to hear from others who have added this offering to their RE Agency work.

Estimated Math: I'm not super knowledgeable yet, but I believe 12% is reasonable for my area.  $1,000 yearly premium multiplied by that 12% means $120 each year that it is renewed.  Many people hold that same insurance until they resell their home (5 year avg when rounding down).  If 50 of my yearly clients use us then that adds $30,000 a year in income.

What else should I consider as I research this opportunity?