I just finished teaching a 30 hour Brokerage Class (in PA ) where each student had to open
an office as their Final Exam. They were given the choice of several types of offices - The traditional
50 - 50, a 100% office , a unique niche office , a small boutique, franchised or independent . They
have to write a multi page business plan outlining their Vision for the office , market-share studies,
a projected P & L , designing and staffing a office . On the last day of class they get to present it
to fellow students !
I have taught this class for 15+ years . But something rather unique happened this time . Most
did NOT see the need for a Franchise affiliation . Even more interesting was the type of physical
office facility they designed ! Many acknowledged that our business has become extremely Virtual
in nature for most Agents . On the other hand , the class felt at the end of your run as a Broker
(by retirement), that owning a real estate office building Free & Clear would be a huge part of your
retirement portfolio ! But it is what many designed that caused me to write this post !
We started by asking what do most agents need from their offices ? The Top 3 answers revealed
just how Virtual many agents have become - a Conference Room to occasionally meet their clients,
Dependable Wi - Fi , and a State of the Art Photocopier (scanning & printing). This does not require
very much square footage ! Many designed facilities that could be shared with other businesses,
with each tenant having their own private space but share cost effect Common Area . Tablets and
Electronic Signatures have greatly reduced necessary trips to the office !
So just how will Real Estate Offices look in 2020 ? Your opinion please !
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