It makes more sense than ever for real estate agents, teams and brokers to become virtual brokers. But before you move to an online office, get some best practice tips from the experts, as we present in La Casa Property
The benefits of virtual real estate agents
An innovation that began as an attempt to reduce costs is now having a major impact on the real estate industry. Virtual brokerage is a new business model where a broker or team of brokers operates without a physical central office and provides everything with a real estate agent needs, including administrative support, marketing resources and training.
Brokers prefer the virtual model because it can be operated at a much lower cost than a model that provides desk space for each broker. Virtual brokers can also rapidly scale their brokerage while implementing technology adoption and broker-wide changes among brokers, which is a major benefit of running a real estate brokerage on an app.
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The virtual model is highly valued by intermediaries because it allows for a flexible lifestyle, reduces the need for face-to-face meetings and benefits from innovative technology. Intermediaries do not have to pay the high overheads associated with commercial property and can therefore benefit in the form of higher bonuses and, in some cases, revenue sharing. With a mobile device, a few key apps and an internet connection, virtual brokers can start working straight away.
As with agents, real estate clients prefer the virtual model because remote agents make extensive use of mobile devices, which naturally leads to faster response times. And, if used in the right way, a face-to-face dialogue on a virtual platform allows the consumer to receive a real and more personal response.
The benefits are obvious, but how do you know when it's the best time to become a virtual agent or broker? Maybe you are already a virtual agent or virtual broker. Most agents and brokers have already implemented a range of digital applications and technology tools to bring most, if not all, of their business online,
If you are a team leader or broker and still provide a physical space for your agents, even if they are operating remotely, it may be time to reconsider.
Whether you already have electronic signatures, digital contracts or video conferencing, the transition to a virtual broker may be easier than you think.
When a broker or team leader wins with a combination of people and systems and gains a large share of the local market, the next question is: "How do I expand beyond my own market?"
Traditionally, the only option has been to open a physical office in a new target market. However, such a move is not only costly and time-consuming but also poses a challenge to managers who must maintain and deliver the high quality of support and organizational standards that are fundamental to the success of the core team.
The virtual model allows brokers to expand with fewer problems. For a start, there is no need to spend time and money on finding, refurbishing or leasing new office space, as all support, training and broker supervision is carried out remotely.
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