Many real estate agents often find that they are able to run their businesses without having a physical office. This is because they mostly operate via their mobile phones or use the internet to connect with buyers and sellers.
Coffee shops often serve as default offices where real estate brokers meet with their clients. However, some people believe that not having a physical address or a few other markers of an established business may hurt a realtor’s brand image.
If you are about to start a real estate business and were wondering if such an improvised method is going to harm you, worry not. It is entirely possible to run a successful realty firm without having a physical office.
Step 1: Incorporate Your Business
While it is easy to operate as a sole proprietor because it requires less paperwork and formalities, it makes sense to register as a formal business. Incorporating your firm may require the services of a tax consultant and an attorney, but it is a decision that you will not regret. When you operate as an incorporated business, you will not be personally liable if someone decides to file lawsuits against you. As we live in a very litigious society, the safety of an LLC/LLP or an S-corporation will always save your day.
Step 2: Get a Business Phone Number
Though you do not need a physical office to meet with clients, it does not make sense to publicize your mobile number to all your clients. Moreover, having a local business number helps you to project the image of an established business, when you do not have a physical office to show off. To make things easier, you can also choose to get a toll-free number so that your clients can call you up for free. We not only answer your phone, but we also help you get designated local and toll-free numbers as an added service.
Step 3: Launch Your Website
Just because you do not have a physical office does not mean you shouldn’t have a website that doubles up as your virtual office. Websites can do a lot of things these days, and one of their primary objectives is to help clients find you, and understand who you are. Invest in an affordable website, which can be as simple as hosting your own website on Hostgator or GoDaddy, and using WordPress themes to float your website. All you need to do is hire a content writer to fill up the website with information about your business, and you are ready to go. You can also choose to rent a virtual office in the US or Canada using the services of AlliedOffices, a prominent virtual office service provider.
Step 4: Hire an Answering Service
A virtual answering service will double up as your virtual reception, and you will no longer have to call up leads or receive calls yourself. Instead, you can focus on striking those deals while our well trained in-house receptionists answer your phone. Quite possibly, hiring a bilingual virtual answering service that offers support in multiple languages can help you target a large market for your listings. On those open house days, or on just about any other day, we will answer your phone in both English and Spanish.
Step 5: Invest in Automation
Now that you almost have all things set up, you should begin to focus on doing things that you are really good at: stoking deals, negotiating, helping clients sell their properties, helping clients make real estate investments, etc. To avoid wasting time working on your laptop, choose to automate your social posts, content publishing, and customer relationship management. Using Hootsuite, CRM, and other tools will help you to automate not only your social posts, but also lead generation and nurturing, which is very important to survive in a cutthroat market like real estate.
As you can see, if you follow these five steps, you will not only have a registered business that has all the markers of a traditional and established firm, but you will also eliminate the need for renting, maintaining and operating from a physical office, which can prove to be expensive and limiting.
For more insights on optimizing your business operations, explore our guide on ways you can grow your real estate business.
