Are you thinking of starting working virtually? As a Real Estate Agent, isn’t a lot of your business done outside the Office? So is continuing to lease your office space month after month a feasible approach?
With the rise in prices of rental offices, a virtual office can solve a lot of your business problems. Especially if you’re new to the business, a virtual office can help you cut costs and gain a competitive edge over other agents.
If done right, shifting your Real Estate Brokerage to a Virtual office can be a considerable convenience, and this article will take you through all the necessary steps!
What is Real Estate Brokerage?
A Real Estate Brokerage is actually a real estate company without a physical presence. But this virtual brokerage offers the same capacity without having a brick and mortar presence.
Not only would you be saving rental costs, but you’ll also have the flexibility to set your own schedule without missing out on the benefits of physical space like business address, mailing service, a receptionist, etc.
Steps to Transition Your Real Estate Brokerage to Virtual Office:
So, you’ve finally decided to move to a virtual, cloud-based office. But before you hand over your last rent cheque, there are a few things you must take care of.
Here are a few simple steps that would make your transition smooth.
1. Before you say Goodbye to your Office:
Virtual Offices still require you to have a physical business address. And in some countries, it is mandatory for businesses to list their physical location to be recognized by the government.
Listing your home address is an option, but clients are less likely to consider you professional if you conduct a meeting at home. That’s why having a professional virtual business address in a prime location is crucial. Still, if you want to list your home address, be sure it is legal to do this in your state.
2.Get a Business Phone Number:
As a real estate agent, you need to constantly be in touch with your prospective clients for the sale and lease of properties. Hence, you require to make a high number of calls every day in general.
Investing in a credible virtual phone service provider will give more structured communication and can also help in reducing the calling costs. Listing a business phone number on your business cars, website, or other places would make you look professional, making clients want to do business with you.
3.Update Your New Business Address and Inform Your Clients:
You might skip this step if your business is brand new. But if you already have existing clients, make sure you inform them that you are relocating and provide them with your new address.
Ensure that your address is updated on your website, email, business cards, social media accounts, and any other personalized stationery you might be offering.
4.Make Your Team Tech Savvy:
When transitioning to a virtual office, it becomes more crucial that all your team members are tech-savvy. You will inevitably rely on cloud-based tools for inter-office communication, and not being able to operate well can cause serious business issues.
Research online training and work on your skills together. Make plans about how many times you’ll schedule a meeting per week. In the meetings and discussions, ask about any problems they face or anything important they want to discuss.
5.Equip Yourself with all the Virtual Tools:
The process of buying property is lengthy and has many steps. A Customer Relationship Management System (CRM) will help you organize your tasks and come up with actionable insights.
While operating from a virtual office, you also need other systems software to communicate and manage tasks and schedule programs. At a minimum, you’ll need an interoffice communication platform like Slack or Workplace by Facebook.
Familiarize your team with Google drive, DropBox, EverNote, and similar apps. Zoom, FaceTime, a Zillow 3D, can be used to conduct client check-ins and client consultations.
The downsides of Transitioning to a Virtual Office:
Although Virtual Office definitely means lowers costs, but it is not all rosy.
There is another side of the coin. One of the downsides of Virtual Offices is isolation. It is easier to feel connected and being a part of the organization while being in the Office. This sense of involvement goes missing in virtual life, making one feel isolated and low morale. Furthermore, the lack of visibility may also hinder growth prospects, and one might be overlooked for promotions.
Also, maintaining a healthy work-life balance isn’t everyone’s cup of tea. While some may find working from home more accessible, some argue that this blurs the physical distinction between where they work and where they can relax and unplug. It might be difficult for some people to stay focused on work and not succumb to distractions, while it may be hard for some to switch off from work and not check emails and phones.
Neither everyone’s in-house workspace is the same, nor is their capability to stay focused on work. While in-house offices tend to have many distractions, some people may have even bigger distractions like children, spouses, pets, etc. This might lead to low levels of focus and dedication.
So, what do you think about moving virtual?