Current market conditions have moved brokers to get creative in growing their real estate business.
With the current level of distress properties, both large and small Brokers have started to use different approaches to increase business and revenue.
Yes, brokers are heavily adapting technology, tools, including now providing tools for their agents. However, what has proven to be a key factor for increasing their sales and closings is being virtual.
Successful brokers are using virtual real estate offices to delivery fast, efficient and quality services, while keeping their cost and overhead low.
With virtual offices they are quickly setting-up offices within communities in which they have decided to provide real estate services -e.g., setup an office to handle short sales or foreclosures in a particular area. No building and no huge infrastructure required. Brokers pass the leads to their local agents, who make contact and follow-up.
Successful broker are setting up their virtual offices as follows:
1. Routing Phone System – lets you forward & follow calls to any location. You can use a control panel to setup and route phone numbers.
2. Local Phone Numbers – lets your clients know that you are available locally to their area.
3. Agents Home Office – agents have their computer, printer and phone all setup in their home office. Documents are upload electronically; no need for an office visit.
4. Receptionist – both of the following solutions have worked well for brokers: either using the services of a virtual assistance company or hiring your own personal assistant. In either case, the assistant is working from their location.
5. Internet Office Management Software – lets you track documents, to do items, transactions, assign leads to your agents, review sales volume and your office revenue. The Realty Broker Office system include these and many other office functions.
The virtual office model is allowing brokers to quickly enter an area, get clients, close deals and make money. This model also lets you easily exit an area when the business climate changes.