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Selling Real Estate Virtually.............

Hi folks. Earlier this week Fernando Herboso wrote a post titled “The Future of Real Estate….I experienced yesterday”. If you haven’t already please take a few minutes to read his post. I’ll wait…………. OK....are you done?

Fernando's post is talking about having a real estate closing where the only time he met the Seller was at closing. The transaction was done mostly via email.

I was surprised in the comments of Fernando’s post how many agents thought this was risky or that it wouldn’t work. This has had me thinking for days now.

It’s made me realize how cutting edge my business model really is. My company Tutas Towne Realty is a virtual real estate business. What this means is I do not have an “office” and about 90% of my business is handled over the Internet. Selling and buying real estate with folks we have never met or spoken to.

In the last 30 days we had 10 closings. 9 Buyer sides and 1 listing side. Of the 9 Buyer sides we had actual "face to face" contact with ONE Buyer. I did meet the Seller although I hadn’t seen him in several months.

Out of the 8 Buyers, we didn’t meet face to face, we only spoke to ONE of them. All other communications were done by email only. Including the closings.

We showed ZERO properties before the offers were accepted. All offers were presented on properties we had not seen. They were foreclosures, short sales and some were regular listings.

The customers ALL got the properties they wanted and are extremely happy. We didn’t waste their time and they didn’t waste ours.

So you’re probably wondering how we do this. It’s simple. We market for experienced and qualified Buyers that are mostly out of the country. They are familiar with the area and they trust us to guide them in their purchase. We are brutally honest with them and we have systems in place to protect them.

We do “see” all properties before contracts are finalized. It could be me. It could be one of my agents. It could be one of our inspectors. But whoever it is we make sure to do a complete photo and video shoot that we then send to the Buyer.

We utilize Scribd.com to “send out” Short Sale Listing Packages.

We utilize Google Docs to get leads for Short Sales, for Buyers, to get offers and to pre-qualify and arrange showings.

I have numerous web sites set up to capture business. All potential customer/clients know how we work and have the option of not working with us.

So quit fighting the future and embrace it. If you think all Buyers and Sellers must see you “face to face” to do business then get over yourself. They really just want to buy and sell real estate. AND….they want it to be easy.

Want to learn more? We also use Google Docs for recruiting……

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

***The content of this blog is solely my opinion***

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Posted by Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc on 08/08/2009 06:41 PM

Comments (84)

Virtual Offices in the Technology and Tools Channel

virtual office, opinion, educational

Originally posted at: BrokerBryant.com: Selling Real Estate Virtually.............

Post is included in group: The Art Of Marketing You
Post is included in group: Realtors®

84 Comments on Selling Real Estate Virtually.............

AUG

Reserved Parking For "The Lovely Wife"...TLW...ROAR!

Hun...

I'm still working on getting over myself :)

TLW...ROAR!

Bryant: I'm glad this model works for you. It certainly helps do more in volume.

hi BB, it looks like we share the same business model even tho we're in completely different arenas.

Re "we didn’t meet face to face, we only spoke to ONE of them. All other communications were done by email only... We market for experienced and qualified Buyers that are mostly out of the country"...

I rarely meet with clients or have a need to and that's the beauty of the net. Our "back yard" has become so much BIGGER with tools like ActiveRain, Scribd, etc... It definitely expands our marketplace. Have a great weekend (u 2 TLW).

P.S. Also gotta mention how much blogging plays into building the trust factor!

Did you say "Virtual"?? Ha! A man after my own heart! You are the man when it comes to doing it all. I love that online tools are becoming the way we do biz:) Virtual & Mobile, Onward and Upward!

I love the "virtual" model. My first closing without meeting my buyer clients took place in the year 2000 and a lot has changed since then. This year I had one closing where I had never met the buyer or heard their voice. All done via email because of time differences of the country they were in. Was one of the most smooth running transaction I have ever had!

Congratulations on your business model, Bryant. I'm happy that it is working for you. While I have had to handle a few transactions in this manner in the past few years, it was not something that I felt comfortable with, and I do not feel that I was able to form as great a bond with that client because of it. We are not just a service-based business, we are a relationship-based business. Maybe that will change, but for now I believe the majority of the clients still desire the relationship aspect as part of their experience with us. I also believe that the internet is our best tool; however, I believe that it should be what introduces us to our clients, and not the only method by which we communicate with our clients. I worry that if this model becomes mainstream, our value would be diminished in our client's eyes. I have learned one thing: the general public does not believe we work hard enough for our money. They have a general belief that we make too much money for what we do. I would think that feeling would be intensified if they never even saw us.

That being said....I applaud you on your success. Good luck to you!

Bryant - Now that's the way to do business. Who needs to talk to any stinking customers, just sent me a text and a check. I'll do the rest.

Just kidding. I like it for investment property, not so much for personal property.

Hi Bryant,

Working as an online assistant allows me to work anywhere in the country, have computer will traval, virtually. It allows my clients flexibility to hire me as and when they need me.

Great post

Sharon

By the way, I am in the relationship business. It's just I'm excellent at building relationship by building trust and bringing value without having to do it face to face.

For example...how many of you guys would trust me to find you a property? if I told you it were suitable would you believe me?

Now I do agree that this method of buying and selling is not for everyone. BUT it doesn't need to be. It just needs to be for the 100 people I want to do business with every year.

One of my agents loves driving buyers around. She comes in handy for some buyers.

Here's some feedback I received recently from a UK buyer. We worked together for almost a month trying to find just the right property. We communicated just about every day via email. We still have not spoken.

**********************************************

Thank you very much for doing the video of the community of where our new villa is. I would like to take this opportunity to thank you for all your help finding us our vacation home in sunny Florida and making it so easy. You have been extremely patient with us and with your immense knowledge of the process of buying a property in the USA and helping us every step of the way.

Even though this has been an extremely fast process, we would have found it impossible doing this without you as we could not spend enough time in Florida to find our ideal home and stay until we exchanged contracts. You have taken wonderful photographs of several properties and describe them in detail and pointed out any potential problems. We are extremely grateful for all your help and making this an enjoyable experience.

I would not hesitate recommending you to anyone in the UK thinking of buying a property in Florida.
Once again, thank you very much.

Kind regards,
Richard

*********************

You are AWESOME! Where others in Florida may see negatives you have clearly seen opportunities and done a remarkable job of designing your systems to meet the current market needs. I too have a virtual office but my buyers are the traditiional folks who want to see the homes in person. However, I still do contracts etc. online. You and TLW are such an inspiration!

Good for you. I've closed a number of sales for out of town buyers whom I never met until they got to town, usually from the Far East or Europe.

They selected their home to purchase from photos. We did the contracts by e-mail or FedEx. I did the home inspections and closed for them by Power of Attorney.

For one buyer in London, I did everything including renting a houseful of furniture for them because their goods would take 3 months after they arrived. We do what we have to do.

The key to these transactions is good communication and the confidence that comes with experience.

Never had one, a luxury waterfront home in Severna Park, a horse farm in Warrenton, many townhomes and singles for military buyers be disappointed following settlement.

We also have sold to people who we have never met -- and homes we have not seen - it might not be an every day occurrence -- but it happens and it is the future - and we love it.

You definitely have a cutting edge office. With so many overseas buyers, you've got a great operation going on there. It is more gutsy for the buyers to buy something they haven't actually seen, however with all the digital media available anymore I guess you really can buy a house virtually.

I listed and sold a property that I never saw last month - property is located in Fort Meade (way south in Polk County). Did the comps via the MLS, came up with the price, and sent a few buyers over there (and had them take pictures for me). Property is pending to close at the end of August.

Technology is great!

BB:

It is the way more and more busines is being done, and not just real estate of course. Perhaps because of the tradition, and the amount of money involved, fewer folks are comfortable with this but it is certainly changing. It really depends on the client, as well as the agent.

I have yet to conduct a transaction without meeting the buyer or seller, but have had quite a few where we met F2F only 1 time. Not quite the same, of course, but I see that changing in the near term.

Jeff

For an investor, I would be totally comfortable with this. For a personal residence, I would not. But I guess I figure if someone is willing to buy a personal residence sight unseen, then they aren't too picky :)

Hi Bryant! Congratulations! We all have to find what works best for us. I could work with your system. :-)

Bryant is a master at what he does! Bravo!

The key to these transactions is good communication and TRUST. Not everyone is ready to take a leap into a financial transaction as large as buying a home without seeing it in person. For savvy investors it is the way to get a property first instead of hoping that you aren't one in a long line of offers. I work with a lot of first time homebuyers and they aren't ready to let go of the tour and certainly need more of the face to face guidance on writing offers. I look forward to the day when I have more deals that keep me off the streets and on the internet.

I think video with maps, real tour with your voice talking to them, not at them is going to be key in the connection with buyers. They see you, hear you, get inside and outside and all around the property and you serve as tour guide posting local community videos to help them. And underneath it all it just so happens you list, market, sell real estate. Thanks for the make you think blog.

Hey BB, I would trust you to purchase property for me and think most of your clients feel the same. Like any other professional, you have to know that you are working with the best!

Thanks for the uplifting phone call this morning. You always have such wonderful things to say.

I haven't yet done a transaction without connection/meeting with the buyers, but there's always a first time.

Interesting.....

Patricia

I joke that I'm a virtual agent here....this weekend is my son's wedding, two of my clients have shown themselves homes and we've written offers. One looks very good, I'm waiting for the sellers to review it right now and I expect a "yes."

I definitely can't argue with success like yours! I did sell one house where the owner had moved to FL and I never met them personally, but I certainly did know the house, and personally handled the last-minute inspection issues when the 'handyman' that the seller hired 'virtually', didn't feel the need to show up in person. I have a feeling I could learn a lot from you about keeping things simple.

I hadn't really every thought about doing business this way. I thought selling real estate was something I could do into my elder years. Today I was wondering, how would I sell if I couldn't drive for some reason. And viola! you have answered that question, totally cool!

I think the hesitation on the part of some agents comes because they don't understand that just because you work virtually, that doesn't mean you can't deliver the personal service that the client requires. It doesn't mean you forego the relationship part of the business relationship. I have a client right here in Ohio who I have not seen since I initially contracted to work with her. She called me on the phone, we talked about the services she required, I e-mailed her a contract, she sent me payment. I work virtually. I don't go to her office. I don't meet her for coffee to go over the week's activities. We e-mail, text, and occasionally speak on the phone. Yet I feel that I know her and she knows me very well.

The relationship is developed through doing what you are supposed to do for the client. Getting to know the client. That's how the bond is developed - not by looking at their face.

I love working virtually! I wouldn't trade it for all the tea in China and I'm pretty sure that those who go virtual will feel the same way!

Congratulations, BB for leading the way! You and TLW are an inspiration!

~Renae

Hi Bryant -- I think every market is different, and the types of buyers you work with don't exist (at least in any quantity to make it an effective business model) in every market, but in concept, I totally agree with you. I also have a virtual real estate brokerage and my clients actually love and dig this fact. They love all the ingenious ways I can save them money, the relationships I have built with independent allied service providers who save them money, not make me money, and the innovative services I can quickly bring to market for them without an entrenched bureaucracy. I would love to take it to your level, but I'm not sure those types of clients really exist -- but I'm open to it.

To answer your question: If I were to buy a home in your neck of the woods, I would 100000% trust you based on your writings alone here on AR.

I've sold a few home sight unseen.

Well not sight unseen because my little flip and I did a long video tour.

I love the Google Doc's. (((thinking)))

I've had clients as far as Hawaii and Switzerland and it went very smoothly - hello we are Active Rainers some of us will never meet face to face.

I think this is a cool idea and I'm not skeptical that you can get it done. But I'm not sure how I could "apply" it to my concept. It probably may not work with the buyers I work with. They are usually also not out of town (that they would at least physically fly in) and that's the biggest difference.

Bryant, I think the key difference is that you, or someone from your organization actually visited and inspected the property. That was my only issue with the other blog.

That is neat. But I can't believe buyers wouldn't see the property. I would think you would have tremendous liability doing the chosing for the client.

I think this is a great businesss model for out of town buyers, investment buyers and vacation buyers. I'm not sure it would work well for somebody in town buying their primary residence.

Broker Bryant, Always a pleasure to drop in and read your thoughts. I've been using Google Docs for sometime, but believe it or not...had never used their forms. You are on the cutting edge of a Revolution, for which many are unprepared.

AUG

Certainly more can be done virtually than has been in the past. But around here the homes are all so different and location so critical (neighborhoods turn on a dime from suburban to downtown etc) that I can't imagine buyers being willing to purchase a property without first seeing it.

BB This is certainly going to be a more popular way of doing business in the near future;and seems to be more acceptable now in certain marketplace especially where you have lots of investors and international buyers.

This is the way to do it! Wow, what a business model.

This is very impressive! I'd like to learn more about how to work this way.

Have a great Sunday!

Ann

Good morning. Great comments as usual.

Would this work with first time home buyers? Probably not with most but there are some that it would.

Buyers ARE seeing the properties. They are getting sent Google street view maps. Photo shoots and video tours. With technology today you don't have to be in a house to see a house. This is one reason why it's sooooo important to have good MLS photos and video tours on your listings. And again we always see the property at some point. What we aren't doing is driving around showing properties.

Buyers are picking out the properties they want to make offers on. All of our Buyers get set up on very specific auto property alerts.

Personally I feel I can sell any property vitually. It makes a HUGE difference thaty I have complete confidence in my ability to do so. I've been selling properties site unseen for years.

I love this comment from Renae:

"The relationship is developed through doing what you are supposed to do for the client. Getting to know the client. That's how the bond is developed - not by looking at their face."

So true. You MUST have a strong relationship to be able to sell properties virtually. BUT...all people are not the same. Some buyers just want to buy a house and don't need another "friend". They just want the facts.

My marketing is designed to attract people that want to do business my way. I'm not trying to work with people that aren't comfortable buying and selling this way.

OK I'm off to Church but will be back later.

Bryant--I think perhaps your vacation / resort location helps with this model. I am in rural America and we don't get too many out of country investors coming to buy a home in Pennsylvania's coal region!

Bryant, those are some amazing stats. I've had a few of these, but nothing like what you've done. Great job!

Hey BB,

I've had quite a few people just call me up after reading my blog...say to me...I want you to list my home....send me the listing agreement and then I'll send you the key along with the agreement signed...we close and never saw them...just a voice on the other end of the phone...actually happend to me a few times while I was in a hotel room...I answered quickly and they just mailed me the key...pretty cool huh?

BB- I have worked afew transactions without meeting the client. I am seeing it more frequently.

BB, From the day that we opened our "office" in our home, we've worked with out of the area buyers. Many have purchased without ever seeing the property. Purchased sight unseen. I've also sold for people that I've never met and received recommendations on both sides. Isn't modern technology wonderful?? Thanks for stopping by my blog yesterday.

I LOVE THIS ! I LOVE the " virtual " world and have used it many of times and actually prefer it. I feel I can get the job done better and faster concentrating on things that matter the most like protecting my client rather than stampeding around for hours and days in hot houses. I love the fact I can get right in take my photos and videos and in one click the buyer has what they need to make a decision. All things are still in play for inspections etc. some who have not utilized this method and do not understand think we are providing a diservice to our customers/clients. Some agents would rather their face be seen beside that client ... some agents want this solely for the " lime light ". I would much prefer My " bad hair day " be left to myself ! lol !

BB, I commented on a post that was on the negative side of this, and disagreed with the poster. (I was very polite, I promise). You came to mind, how you took a business that went into the crapper, pulled it out, refashioned everything, and MOVED ON! My hero as you know.. but I digress...

Your business plan has helped your ailing community. The homes that were distressed that you sold, 10 a week woweee, are now off the market and out of the problem pipeline. Kudos to you!

I would love to find investors that wanted to live here! :D

Keep it up.

Hello,

Great post in selling virtually. As a Real Estate Investor, I have personally bought properties in different states and cities, sold them, sold them, and if needed, rented without dealing with prospective residents. I have done all this virtually without having personally seeing those houses.

I am a Retired Marine Corps Officer who buys properties in the Pensacola area. I have purchased individual properties & bulk REO packages in other states such as CA, GA, Michigan, etc.

All I did in those transactions was sign paperwork and spoke with my Realtor and/or partner. I still own properties in different states & one of those houses in San Diego was purchased in 1992. It is providing a very nice positive cash flow while building equity.

Now, I personally look @ all properties in my local area so I could keep my skills sharp on property evaluation & analysis.

I continue to buy houses virtually in different cities & states today.

Have a great Active Rain day.

Semper Fi!!!

Hi Bryant. i've had this idea for quite some time myself. I am curious about one thing. Do you stick to the region that you know best or work statewide? if you work Statewide, How do the sellers feel about handling things as if it were a discount Brokerage while paying full fee?

I sold my brokerage a few years ago in lieu of my short sale negotiating company but, once things turn back around I'll be selling lakefront homes here in Michigan once again. Thanks for your input.

Awesome, BB! Your business plan wouldn't work for my "bedroom" community. Overseas people just aren't looking to Whittier, CA as a retirement/resort town, or for a second home. It is a family community. But, if I were looking for a home in Poinciana, I know where I'd go: Broker Bryant.

Hi Bryant, I worte a face to face post last week, in response to the mentioned first blog. It's balance it always comes to balance. We are people, relationships, getting to know someone ......people hide behind the screen. I feel with this technology at our finger tips yes some of it is good but nothing should ever take the place of human contact. Face to face is a "phrase" its reading someone, it's connecting ect. Maybe not always needed on every transaction but come on "get'em in and get'er done" clients are not sheep and or cattle, they are humans. Nothing well ever, and I mean ever take the place of genuine human interaction. My opinion. Karen from Boston, and us New Englanders don't like taking to anyone, just kiddin:)

We've done many transactions with out of town or out of the country buyers. They've never seen the property except by videos and photos. Of course, they get inspections on each of the properties from independent inspectors with a ton more photos. All contracts are signed electroncially. Closing docs are emailed, faxed or overnight. Most have gone very smooth.

Bryant, congratulations on finding and owning your niche. One thing you said that rings so true is earning TRUST. This is applicable for anyone in real estate, regardless of their market or niche. And I love your use of video - particularly in showing your clients the COMMUNITY, as opposed to just the properties. Excellent!

Great post, I think we will see more and more of this in the future. I always enjoy your post because I they always have good info for me to step it up!!! Thanks

This is the future. I continue to get listings from my website, sellers love the professional photos and virtual tours on each property. I have several sellers from across the country I've never officially "met". I wouldn't leave home without my "flip" video cam, it's perfect for those neighborhood shoots and can be uploaded quickly, times they are a changin! Buyer's and seller's are all over the net, we just have to capture them.

Bryant, I am a believer too. I have over 200 investment properties bought here from people as far away as Israel who have never seen what they bought in person. Of course, investments deli ever on paper so it is a little easier but the model holds up.

Although I am "late to the party", I am still compelled to comment. WHAT A GREAT POST! Two primary points (of many) resonated with me. First, you are effectively using the majority of the available technologies as service tools, not gimmicks. Second, you target the clients who appreciate your business model. They "self-select" and you serve them incredibly well. BRAVO!

Bryant, you have the experience and integrity to make this model work. Thank goodness your clientele found you. We all know lesser mortals who would sell swamp land as vacant lots - and some who have! It is definitely the way of the future.

Sharon

Although I do have an office, 60% of my rental homes have been rented sight-unseen for the last 5 years....beaucoup photos and floor plans with area information in the listing, application form on our website and when move-in monies are delivered FedEx, I spend the lease packet Prority Mail and once the lease signature page is faxed/e-mailed to me, I place the keys under the front door mat when the let me know they are arriving....

Very interesting BB. I can not say that in 23 years I have ever sold a homw without meeting the buyer. It sounds like you are avoiding many headaches that traditional agents would encounter.

B.,

Very impressive way of doing business! Love this virtual stuff!

Kathy Opatka

Bryant, I believe there are markets such as yours that can benefit greatly from virtual sales. We have sold three this year sight unseen and via email but I believe this will be the exception rather than the rule in our market.

I'm glad it's working for you, and you're ready to rock and roll into the future!

One of the business models I am considering when I receive my Michigan broker license is a virtual office. I've run it past other brokers and agents some of whom just stare blankly at me. Thank you for letting me know that it can work. How do you handle agents and associate brokers in a virtual environment?

Inspiring post ! One gain in this market has been ending our dependentcy on print media and looking for all types of expense reduction ! No office costs- I love it !

David, Really the only difference is that my agents don't come to the office. I am there to assist them whenever they need me. I have a website that is set up specifically for training and we have conference calls when needed. It's really not difficult at all. Of course I know of no other way since I have always worked from my home.

The best thing about having a virtual office ios that my overhead is lower. By the way I ma not a discount broker. I actually charge more than most brokers in my area. The fact that I don't have an office rarely comes up. The consumer just wants to buy and sell and real estate. They know I'm good at what I do and that's really all that matters. Plus I have excellent communication skills.

I had this discussion with an agent that I met teaching a class on blogging and they thought I was crazy for not meeting buyers and sellers. They thought how could you know who they really are? I then asked them, have you looked at your clients SS Card or Drivers License? Not one had and just based knowing them, by having them at their office or in their car.

Todd Clark - www.LivingBeaverton.com

It sounds like you have a unique system where the buyers understandably cannot meet with you. I would still be reluctant to offer on a property site unseen. I have inspected properties for out of town buyer and then helped them put in offers.

Bryant -- I just love your business model. You ARE the future. Thanks for posting all the tools you utilize. I'm going to investigate this thoroughly.

Your results are fantastic- most of our clients come via the internet. We have sold 3 homes to buyer who have did not see the home till closing. Most of the time we communicate back and forth over the internet and then the clients come into town and buy (we still have to drive them around though).

So how do you get so many non-US contacts?

BB, glad it works for you, but I think you said it yourself. It may not work for everybody. I agree. Both you and Fernando are speaking primarily about selling short sales/foreclosures virtually. With this niche, the virtual model would work especially well as you're much more likely to be dealing with buyers that are extremely experienced with real estate and sellers that are, let's say, in a 'specialized' situation that works for this model.

My issue with Fernando's post is that he was slanting this as the "new" way to do real estate. I think that there are a number of issues with that.

State laws vary greatly. In many, a virtual model simply wouldn't work from a legal standpoint in many cases. As such, agency laws will come into the plan as well. In FL, the transaction broker would work well with a virtual model. However, in states where you must represent at least one party, I think fudiciary responsiblity may be an issue.

Finally, if the "virtual agent" actually hits as mainstream, I think that the agent pay structure will also see a dramatic change. It could be just me, but if we get to a point where the agent doesn't represent any party, doesn't show the house, doesn't see the house, doesn't see the client, doesn't even get out of their pajamas the whole time the deal is going through, then I'd think that the general consumer is gonna want to question the current pay structure.

Just my opinion.

AUG

Bryant,

It seems as if you are in an area where this virtual office model can work as an accepted practice. I am not so sure that it will work in many of the old northeast cities and towns, but, I could be mistaken. Your post gave me some ideas to run by several investor buyers that I have. I'll get back to you to let you know if it worked.

Have not yet had a transaction like this but am getting close to that day, I am sure. I am interested in doing a virtual closing. I think this will be the next leap where the clients sign docs on line. The technology is in place. Anyone done one?

BB, your right we should embrace the new things available in technology and run with it. Time savers, you bet. Ease of use, you bet. It's a little hard to 'hug' a short sale package on Scribd though. Some people are just so 'touchy feely'.

AUG

BB, I must say I like your model compared to what I've seen the discounters use in our area. Their offer is a discounted listing fee, the marketing plan is putting the seller-provided photos in the MLS, and sending the seller a disposable sign for the seller to hang up. There is NO representation when the offer is presented and negotiated; merely send the listing agent the closing statements when the deal is over and they'll change the status in the MLS. Thanks! John

AUG

I've had several sales with Buyers I've never met and it is quite refreshing :0) I look forward to more and more of these transactions as the public becomes more comfortable with technology. Sadly, here in Canada, we Realtors have been made to police the industry with no one being able to buy or sell property without providing a passport or driver's license in person - ridiculous concept as it is supposed to stop money laundering and terrorist purchases !!!

AUG

Bryant:

I have been a "virtual agent" for the most part since 2000, since at the time many of my clients were located in other states. My niche was "1031 Tax-Deferred Exchanges" and all communication was via phone, fax or e-mail. Many of the "uplegs" they exchanged into were in different states (and trying to find a local Realtor back then was a challenge.) I had many co-workers appalled at my lack of "touchy-feely" and thought for sure I was doomed.

I find myself doing the majority of business the same way now, even though my clients are located in San Diego and my business has shifted from "1031 Exchanges" to just sales. How many times do you really need to physically be with a Seller after the listing is taken? The challenge is Virtual Communication: "selling yourself" and "communicating well" on the phone and via e-mail.

I just joined a "virtual Broker", and although they do have a "bricks and mortar" location, I work out of my home office or on the road. I love that I can do 8 hours worth of work in 3 or 4 hours. I take no glory in working 60 hours per week, when I can work 25 or 30, and spend the remainder of the time enjoying my life.

Whoever says this lacks the "personal touch" should understand the reality of the future of this business. Like it or not, the "touchy feely" part of business has (sadly for many) been replaced by technology.

SEP

It's great working "virtually". I have though question about out of town investors. Do you preview homes for them in person before they make a decision regarding the offer, especially if REO's or short sales are involved? If yes, do you charge extra fees for doing this? Going and preview every single house is a time consuming especially if price range is $80,000-$120,000 and if they want to check 20 houses before they chose only one to make an offer, and you are not sure if their offer will be chosen anyway. This way you can not make sure that you will be compensated either. What exactly is your practice if they want you to preview homes for them?

SEP

Hi Irena, I look at propeerties after the offer has been accepted. Here's an article I wrot ethat will explain what we do,

http://activerain.com/blogsview/1128240/my-buyer-only-wants-one-house-why-make-14-offers-

Bryant, thank you very much for your response and the link. It is very helpful, and certainly I will not go to preview those houses before any offer is accepted by the bankl. Your practice has absolutely sense! Our Houston area market has lots of good foreclosure deals as well, which sell very fast, so it is impossible to go and preview those homes, because in meantime, they are not available anymore. I know that in our area, some agents are collecting up front deposit of $1,000 - $1,500 or charge up front fees of $80.00 -$100.00 per house and photos if out of town buyers want them to preview houses before they make any decision regarding making an offer. I think though it is still waste of agent and buyer's time, which is extremely crucial since good deals go off the market fast.

SEP

Hi Bryant!

I love this business model! I remember, back in the day, when my husband and I owned our title company. The county was installing a computer system enabling us to check an indexed database of documents rather than using index books. To search a name from 1953 by books took about 10 to 15 minutes if we were lucky and the computer took under 30 seconds. The Deputy Recorder of Deeds discouraged the use of it, saying it would put people out of work. We disagreed, saying it would allow us to spend more time with our family!

Eventually, in 1997, we closed our B&M office and moved the business home, doing all our business by fax or email. At that point, our business tripled and our time with the family doubled. Win-Win! We were able to retire at 45 from 22 years in the title business and move down here to the sunshine.

I will be getting my license in a few months and, once I am experienced, will be knocking on your door-- I'm in Eastern Polk County, a stones throw from you. Keep that doorbell ready!

I am excited about getting started at this time in history :-)

Becky

Hi Rebecca, Give me a call before you hang your license any where. I'm expanding and I'm hiring.

Hi Bryant!

I sure will! You come highly recommended by Jennifer Allan! :-)

I'll get with you when we are close :-)

Becky

SEP

Much of my business is all online also. There are some sellers that I have never met before, and we managed to get their property sold all through email and phone calls. We have a large second home market, and many of these homes haven't been seen by the sellers in a very long time(in one case, over 10 years). They usually live out of state, or 2 or more hours away. I usually meet all of my buyers though, haven't had too many buy without seeing the property first.

SEP

Glad it is working for you. It'll be interesting to see how the industry will change over the next several years and how virtual the business will be.

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