Is the Future Virtual? An Insider Look at Broker Models
The best brick and mortar brokerages have a hands-on approach and provide daily face-to-face interaction. While the virtual brokers promote autonomy and rely on technology to keep their agents up to speed.
I don’t want to say you should go one way or another because I have seen both models be successful.
My dream, at 24 years old was to have a Smith Premier Properties be a brand in all 50 states. But when I started to see success in my real estate business, I realized my strength was actually in prospecting leads and building a strong team and not recruiting and managing a lot of independent agents.
If you don’t want to get into the recruiting business, then you probably don’t want to have a virtual office.
The Hybrid Option
Some brokerages have a flagship office but allow agents to be virtual. This is a great option because with technology Realtors are a lot more mobile. Going into an office every day isn’t always conducive to an agent’s busy schedule. However, having an office where there are workstations, printers, and meeting rooms is really convenient.
The Pros and Cons
Brick and mortar often provide in-house training and weekly meetings which provide camaraderie and have a personal atmosphere. However, for agents who are more independent, going into an office can be inconvenient due to their busy schedule.
Virtual offices tend to value autonomy and allow for flexibility. They take advantage of technology and will send out weekly emails, post videos or stream meetings and workshops. However, for agents who like to collaborate or new agents who need support, a virtual brokerage can be inadequate.
Goodbye Brick and Mortar?
Don’t believe anyone who says that brick and mortar offices will disappear. Culture is becoming a very important part of business and I don’t see physical brokerages going away anytime soon. Both models have the potential to be successful.
Leave me a comment and let me know which model you prefer.