It is said that if things aren't changing and evolving, they are dying. Some of us embrace change with enthusiastic expectation of the opportunities waiting in the unknown. Others cower at the mere mention of an "out-of-the-box" adventure.

If you're in the latter category -- being a change-phobic -- it's time to turn over that proverbial new leaf or risk a substantial drop in real-estate generated income. The market is evolving as it always does. The "new" opportunities for increased productivity deserve a hard look.

As an asset recovery trainer who runs and set up divisions for relo companies and banks, I can see two types of agents doing very well besides those that sell real estate.

Property Management

Over the past 3-5 years many investors purchased homes with the goal of renting them for a few years and then selling them for considerable profit. With the "quieting" of the market, even in key locations such as Florida where this practice is common, things have slowed and inventory is up. Some investors are in need of holding onto those properties longer than originally anticipated in order to recoup initial investments and realize a gain.

It is time consuming and costly to ensure the properties are being well-maintained by the renter. Investors often reside far from the rental property, and out of sight does not mean out of mind. Enter the Property Management Agent.

By offering a menu of services to the investor owner, the agent ensures ongoing income over the year. Here are a few ideas:

• rent collection

• quarterly walk through

• meeting with repair/inspection vendors

• arranging for (and ensuring) regular maintenance such as lawn, shrubbery, pool, etc.

• leasing services (finding tenants, credit checks, collecting deposits, etc.)

If the agent proves to be reliable, fair, reasonably priced and well organized, they'll find themselves with more business than they can handle.

Foreclosure/Asset Recovery Expert

For the first time in a number of years, foreclosures are on the rise. While large banks are well equipped to handle foreclosed properties, smaller banks and credit unions are often ill prepared and lack the knowledge and/or personnel to deal effectively with these properties. Enter the Foreclosure Agent.

Knowing how to approach the financial institutions to offer your services is the first step. What the financial institutions need to know to immediately secure the homes, maintain them, bring them to market, sell them quickly and for a fair price are just the kinds of issues the agent needs to help the client resolve. Helping clients put step-by-step procedures in place that ensure the properties are cared for, maintained and protected at all times is key.

The agent who wants to develop expertise in the foreclosure/asset recovery field must educate him/herself about the processes, create forms and procedures that can offered to prospects, and in general demonstrate that he/she is knowledgeable, backed up by insurance and has the availability to handle emergencies (or a great back-up system) if and when they arise. There are some interesting sites that offer information about how to manage properties.

For more information google the term "foreclosure management" for sites that are helpful, and check here for sample forms used in the process.