New ideas for real estate offices

Realtor Notebook

When I became a Realtor the common business models we work under today were already in place. I did not invent any of them myself, though I am always looking for new ideas, lines of business and ways to cut expenses.

I have watched the big local brokerages get smaller. Some major local franchises started closing offices a few years ago. Many of the agents remained, but ended up in offices that are farther from their homes and from the neighborhoods where they sell homes. With fewer agents, those same brokerages have raised fees to consumers and to agents to cover expenses.

Common wisdom indicates that brokerages can be more profitable if they don’t need to own or lease a lot of real estate. Technology makes it easier than ever to work anywhere. Most of what an agent needs can be found on the Internet.

The problem is most brokers don’t have a handle on how to recruit agents unless they have an office to offer, and there are many agents who consider a traditional real estate office a must-have.