It Is Time To Monetize Your Real Estate Podcast?!
More than a year and a half ago I wrote a post insisting that if you wanted to crush it in real estate you needed to start a podcast. Not only can starting a real estate podcast help you to vastly expand your audience, boost your brand awareness, and position you as an expert in your field but it can also earn you a lot of passive income.
Whether you are a brand new real estate agent, an experienced broker, or a real estate coach, you could always use a few extra streams of income. Regardless of what position you hold in the real estate industry, you are a business owner and you know the value of passive income as well as I do.
However, if you are anything like most people working in the real estate industry you have no idea how to monetize something like a podcast, even if you understand the value that it can add in terms of lead generation and brand awareness.
I am here to tell you that your real estate podcast can not only be monetized, but it can be monetized in several ways. I promise you there are few (if any) other things you are doing in terms of marketing right now that hold the potential to earn you passive income like a podcast.
Better than that, I am about to show you the most realistic and practical ways for you to use a podcast to:
Scale your existing business
Strengthen your network
Make money in your sleep
Sell yourself without seeming slimy
If you have been hesitant to start your own real estate podcast or have been wondering how to profit from one this post is for you! Don't forget to pin and bookmark it for later!
Grow Your Real Estate Email List
As a business owner in the digital era of real estate, growing your email list should be one of your top priorities. Every person on your email list is a potential client and/or referral partner that has voluntarily told you that they want a piece of what you have to offer.
That is a big deal!
Written content like this blog is definitely powerful. Unlike any ad, real content has a way of connecting with people, drawing them in and showing them that you are more than just a product or service. When done correctly, written content will allow strangers to form such an emotional connection with you and your business that they will be eager to become clients and better yet, cheerleaders.
However, as powerful as written content is, audio content like a podcast is even more powerful. When people can actually hear your voice in a way that feels like you are talking directly to them they will become far more engaged.
Throughout your podcast, you should give multiple opportunities, calls-to-action, and incentives to your audience to subscribe to your email list. It is with that email list that you will have the opportunity to find out on a person-by-person basis what you have that they are already looking for and ultimately capitalize.
Attract Strategic Sponsorships
As you grow your audience, you will be able to sell sponsorships to other businesses that also want the attention of your audience. For example, if you are a real estate coach you with an audience full of agents, other companies and vendors like lenders, home inspectors, etc. may be interested in becoming a sponsor on your show. Or if you are a real estate agent, you should focus on sponsors that have a vested interest in your hyperlocal audience.
However, I want to caution you when seeking out sponsorships. Make sure that you actually know, like, and trust that company yourself and would be proud to hire them too. It takes a lot of work to earn the trust of an audience and you can’t afford to alienate them by promoting products or services that aren’t in their best interest.
When seeking out sponsors, don’t focus on how many subscribers you have as a selling point but how engaged they are. Even a new podcast with a loyal audience can make money with sponsors if a previous following is in place.
Become An Affiliate
Affiliate relationships are very, very similar to sponsorships. However, many people find them to be more profitable and practical.
There are two types of affiliates; affiliate sponsors and affiliate relationships.
As an affiliate sponsor, you would promote a product or service as though they are an actual sponsor of the show. However, instead of being paid for giving them a spot on the show, you would get paid when someone buys the product or service you are promoting. For example, if you wanted to promote Shipt the grocery delivery service you would become an affiliate for them, talk about how amazing they are and share your unique affiliate link. Most of the time, people will get some type of bonus when they sign up through your link which gives them even more incentive. Depending on what you promote, you could earn anywhere between a couple of dollars and a couple of hundred dollars every time someone signs up through one of your links.
The second type of affiliate relationship involves you actually bringing on guests to the show and developing a real relationship with them. If they have a product or service that is sold online you can have them provide you with a link to track your sales.
Plug Your Books & Products
Have you written a book or created a product that you want to promote? Your real estate podcast is the perfect place to do that. Let’s say that you have written a book, the main points or even entire chapters can serve as the inspiration for episodes of the podcast. Just make sure that you give enough value to tease the book with a strong call to action that makes it irresistible to buyers.
Don’t be afraid to do relevant interviews either! If you teach readers about something in the book, invite people facing those challenges to be interviewed on the show and walk them through ways to solve their problems the way you explain in your book.
Real Estate Events & Masterminds
Hosting events and masterminds is a fantastic way of networking in real estate. Your podcast is your community and what better way to deepen your relationship with them than inviting them to meet up with you in a constructive mastermind or networking event?! They will love having the opportunity to interact with you directly, as well as, other like-minded members of the audience.
Of course, you could do this for free but this post is all about making money from your podcast so I suggest that you charge for attending. The costs and logistics of throwing these events can add up quickly and you should at least break even if not profit from the attendees. I promise if you provide plenty of value for those that attend, they will be more than happy to pay you to do so.
Real Estate Facebook Groups
Much like a membership website model, you can charge people to be a member of a private Facebook Group and promote it on your podcast. In order for this to work, you will need to be actively engaged in the Facebook Group yourself and commit to pumping value into the group every day. It may take some time to build up your membership but the more value you provide to those initial members the happier they will be to sing your praises and promote both the group and your podcast. It is a symbiotic relationship that will pay off the more you invest in building it.
Do you enjoy consulting, coaching, or public speaking? Starting a real estate podcast is one of the best ways to show people how talented you are at any or all of those things. In order to book gigs like public speaking appearances, you need to have authority and credibility which is exactly what your podcast will provide. These gigs often pay four or five figures even for newbies so don’t be afraid to step out of your comfort zone if you are new to speaking. You may be surprised just how much you love talking for cash.
Hold Onto Your Money
Just as I have proven to you, there are plenty of ways for you to monetize your real estate podcast. However, you can also fall into a handful of traps that could wind up costing you dearly. Make sure you avoid these real estate podcasting faux pas:
Promoting products or services that suck. Just because you might get a huge cut for promoting something on your podcast doesn’t mean that you should. If you convince your audience to buy or invest in something that winds up hurting them you could wake up to nasty reviews, lost clients, and a decline in your following. Above all protect the trust you’ve earned.
Paying for guests. Podcasting is all about reciprocity. There is no reason for you to ever pay anyone to appear on your show when you are doing them a favor by creating content for them that promotes them.
Letting people pay you to be on the show. Just as there is no reason for you to pay guests to appear, there is no reason they should be willing to pay you. This should be a red flag that something probably isn’t right.
Keep a lackluster sponsor. If you bring on a sponsor and the needle never seems to move in response, don’t be afraid to cut them loose. You can’t afford to annoy your audience by promoting a product or service that they aren’t connecting with. Instead, free up that space for a new sponsor that will excite them and actually make you money.
Need Help Starting Or Monetizing Your Real Estate Podcast?
That is what I am here for! No matter what stage you are in I can help you to generate a real estate podcast that attracts your ideal clients, positions you as an expert, and earns you plenty of passive income too! First, I need to learn about you, your goals, and your needs so I can put together a comprehensive plan to get you on the right track. To get started making money with your real estate podcast, claim your free strategy call with me.