How Airbnb Can Be a Secret Weapon for Real Estate Agents

Many homeowners have realized that becoming an Airbnb host can mean uncovering an extra stream of cash. In fact, some are easily pocketing an additional tens of thousands of dollars by hosting guests.

However, while plenty of consumers are using the service, the power of the platform for real estate agents is still flying under the radar. So, to help bring our real estate agent friends up to speed, here are some of the scenarios in which Airbnb can be used as a secret weapon for both you and your clients.

Scenario #1 : The Easy Upgrade

As anyone who has worked with just one home buyer knows, matching up the ‘perfect house’ with the ‘perfect budget’ often results in a disconnect. Home buyers want that big house with all of the trappings, but are hoping they can score it for a cool $250,000.

Good try.

However, all is not lost thanks to the power of Airbnb! If that same couple is able to combine supplementing their income alongside a larger mortgage, they can find themselves in a position to upgrade to that perfect house. As a bonus, they are also able to generate a tax write off in the process, as the portion of their home that is used by Airbnb guests (including the furniture) is deductible.

While this can be true regardless of the property, those that come with a private entrance or separate unit altogether (like a pool house or in-law suite) quickly become no-brainers.

In this scenario, the agent can use Airbnb to her financial advantage by making a larger home work for her clients. And since a larger home equals a larger commission, everyone walks away happy.

Scenario #2 : Space to Grow Into

This is a common scenario for young home buyers: they buy a big home because they want plenty of place to grow into. And while that sounds like a good plan for the future, what about all that extra space in the present?

Again, enter becoming Airbnb hosts. By putting that extra space to work, these young buyers give themselves plenty of flexibility along with access to generating additional savings.

As in Scenario #1, this scenario can also result in an agent working to find a larger house that fits the clients’ needs. And because kids are expensive, renting out the space as a way to bulk up the savings account means that it is a win-win!

Scenario #3 : A House that is Sitting on the Market

While the goal for real estate agents and home sellers is to create a fast sale for as much money as possible, it does not always unfold that way. You cannot control the real estate market or how it will respond to a listing. So what do you do?

Well, thanks to Airbnb, sellers who have already moved out of their homes now have the means to generate some money on the listing. Instead of just letting the home sit vacant and piling up the carrying costs – usually alongside the new home’s expenses – agents can help their clients by listing the home on Airbnb, and in return, share in the profits that come with the rentals.

Scenario #4 : The Empty House

What we mean by an empty house is one where the homeowner is often out of town for work or simply doing a lot of traveling. This scenario is becoming more and more common as people look to take advantage of remote work setups or the ease of travel.

So if you are working with a client who travels heavily, you can provide additional value by helping put a hosting system in place. As with the house that is sitting on the market, agents can agree to handle the listing requirements that come with the process in exchange for a share of the rental streams.

Real estate agents are continuously adding to their own “value” toolbelt. The more you can help a client, the more you will see it come back to you. This is why leveraging Airbnb can be such a powerful tool.

To learn more and sign up to become a host, simply follow this link. The process is quick and easy. You will be helping your clients in no time!