What Products and Services can be Brokered to make an Income?

As mentioned in one of my previous articles, a broker is paid for their service of introducing a seller to a   buyer or vice versa.  So what products or services should you actually target to make money?

The course gives a comprehensive list but here are a few examples that people may want to consider:

Products that can be brokered:
Used industrial equipment- Yellow Iron, warehouse racking, surplus inventory
Franchises
Used boats and RV’s
Log Homes- Timber Frame
Prefabricated kit homes- Cottages and Cabins
Used oil and gas equipment- pumps, pipe, compressors

Of course there are many more brokering products and you can see by the above list, it’s not isolated to one specific market. Brokering is really only limited by your imagination. Let’s choose ‘used boats’ as an example and how you can make an immediate broker deal and cash.

Let’s assume your neighbour has a boat sitting in his driveway and one day your talking and he mentions to you that his kids are older and the family never uses the boat anymore and is considering selling it.
Your at work and the co-worker and you are having lunch. He mentions he is going to the lake this weekend to his brother in laws cottage. Your co-worker happens to mention that he feels bad having to borrow is brother in laws boat every time he out at the lake and wishes he had his own boat.
You remember the conversation you had with your neighbour about his boat. You mention to your co-worker you know of a private sale of a boat and will get him more info on it.
You contact your neighbour and let him know you have a co-worker interested in buying a boat and as the neighbour for all the info and what he would like to get for it? He say’s he would be happy with $6500 dollars. You then mention to the neighbour that if your friend and co-worker is interested, can you bring him by? You also say, “if my co-worker buys your boat, would you pay me a finders fee/broker fee for bringing him a buyer” What’s your neighbour going say…no?
 You could easily ask and get $500 from this one transaction.

Now use this formula for the other products I listed and you can see that with the right market, you could establish a quite lucrative brokering service.

What about Brokering services? How does that work considering that they are not a tangible product?

Services in some ways, are easier to broker than products. Here’s some examples:

Contractors- Commercial Painters, cabinet makers, custom wood products, deck builders
Appraisers- Commercial
Custom plan designers
Web design and marketing services-Freelancers

Although there are many services that can be brokered, they usually fall into the ‘occasional’ category for transactions but can be profitable.
A great example would be custom plan designers. I have had great success brokering plan services including custom designed homes, timber fame designs as well as log homes.
Having brokered pre-fab home kits, it was a natural complimentary service to broker plan design as well.

By now, I trust your imagination is running on overdrive and you are coming up with other products and services you feel you could explore to broker. To make a full time income, I suggest you narrow down a product or service that has residual transactions and a higher brokering fee per sale.

To conclude, I have brokered many products and services over the past 25 years and made a great income and even built two full time brokering businesses, one which I own and operate at the time or writing this.

If you are looking to add  to your current income or even considering a new full time venture, have confidence that brokering products and services may be something to explore further.

Feel free to request the complimentary ‘Getting Started in Brokering Guide’ here.
All the  best,
Lawrence Clark