Investing in real estate is one of the best ways to diversify your investment portfolio. However, there are a lot of ways to make money on real estate other than buying property and leasing or selling it later. One of these is becoming an associated agent contractor. These programs are designed for independent real estate agents who want to make money by sending qualified leads to property management companies like UpperKey.
What is UpperKey?
UpperKey is a property management company that allows property owners and landlords to maximise the returns on their properties through their property and Airbnb management services.
The company assesses your property and then prepares an offer of project management or tenancy. Their agreements include guaranteed rent agreements where landlords and property owners get a guaranteed income for a set period. Property owners and landlords get guaranteed income regardless of occupancy levels, which makes this agreement beneficial for them, especially in seasonal markets.
Upon agreement, Upper Key manages everything from electrical contracts and maintenance to tenancy agreements and cleaning.
How To Earn With Upperkey
Apart from their property management services, you can also earn with Upper Key through their program for agents. Agents earn £1000 for each lead that leads to a signed contract and a new property under their management. So, how does the process work?
To apply, you need to be an experienced real estate agent in London, such as a Baker Street real estate agent. It does not matter if you are a Canary Wharf estate agent or a real estate agent Knightsbridge, but you have to be an experienced real estate agent. The process starts with a quick online application.
Once you are done with the application process, you need to undergo the onboarding process. You will need to complete several tasks to get a better understanding of the tools that UpperKey uses. Once you complete this process, you will be provided with different resources that will help you start earning.
The next step is finding properties or buildings that you bring to Upper Key. They will assess the building and go through the agreement process with the owner or the landlord. They will then make an offer on it and if the owner or landlord agrees and signs a contract, the referring real estate agent will get £1000.
Benefits Of Working With Upperkey
The most significant benefit of working with UpperKey on their program is that independent real estate agents in London, such as an estate agent in Brick Lane, can make significantly more for doing what they are already doing. Since this is a freelance side job, a Belgrave Square real estate agent, for example, can earn more with each lead they bring that results in a signed contract. As long as you can bring in qualifying leads, you can continue making money with this program.
Being a freelance side job, real estate agents also have complete control over their agenda. They can work regular jobs like they otherwise would and then bring qualifying leads to UpperKey.
Real estate agents also get the opportunity to develop their negotiation skills. You get the opportunity to develop your negotiation skills as you convince the leads you have found to sign with UpperKey. This is an incredibly important skill for any real estate agent, as you have to do the same in other aspects of your job.
Independent real estate agents also get the opportunity to meet new clients, which is significant for helping them advance their careers in real estate. Sourcing leads requires that real estate agents learn how to find the right people to get in touch with and once they do they have to meet or at least talk to them.
Understanding how to source clients like this and handing them over to a company that provides an excellent property management service, such as Whitehall Property Services, will propel your real estate agent career. Cementing these relationships means these clients are more likely to come to you should they need additional services, which allows you to earn even more with UpperKey.
Benefits Of Real Estate Agents Working With UpperKey
When sourcing leads, clients are likely to ask you why they should let UpperKey manage their property.
First, the property management company provides a guaranteed income every month for property owners and landlords. Most people with property worry about seasonality where they have high occupancy rates in high seasons and then low occupancy rates in low seasons. Their rental income, therefore, becomes seasonal, where they earn more in the former situation and less in the latter one. This is not the case with Upper Key.
Second, Upper Key provides different types of services to best suit the client's needs. For some clients, that is complete property management where they handle short- and long-term rentals. For others, it is Airbnb concierge services where they provide short-term leasing. They market the property, list it on various platforms and maintain it to ensure guests have a fantastic time staying in the properties they manage.
Additionally, they have a list of international clients on their waiting list who regularly need Airbnb concierge services. Having such a list means they always have someone looking for a unit or property to stay in, regardless of the type of property the client might require.
If the client owns a hotel, Upper Key can manage it too. This can be challenging, as you have to deal with clients, worry about performance, pay for upkeep, handle suppliers and partners, and so much more. When Upper Key becomes your client’s only tenant, they do not have to worry about all these as they will take care of it all.
Third, they manage properties all over London and in other capitals and thus understand the market much better than most other property management companies. The result is better marketing and targeted clientele for your property regardless of the type of services you need or the property you own.
Fourth, their agreements come with rental guarantee insurance. This insurance is different from guaranteed income. Guaranteed income is where UpperKey becomes your primary tenant and ensures a monthly income, regardless of occupancy rates.
Guaranteed income insurance kicks in when a tenant fails to pay their rent for an extended period. Having it means you never have to worry about a tenant not paying their rent.
Real estate agents can earn extra income by referring clients to UpperKey. They only have to find qualified leads. Real estate agents can grow their businesses and benefit in numerous ways, and there are many benefits for your clients, too.