Virtual Real Estate Brokerage: Real Estate’s Future
When people think about real estate, most of them think that it needs to be a local business. After all, if you’re trying to sell something in a specific area, you’d assume that you need someone in that area to sell it.
However, technology has really made the world smaller. It’s now possible to hire whomever you want to do whatever you need, without being impeded by geography. Real estate is no different! A virtual real estate brokerage firm can help you with all of your needs.
Residential Real Estate
Most virtual real estate brokerage firms will provide their agents with high commission splits. In addition, realtors are provided with an app that they can use to conduct all of their business.
As an agent at a virtual brokerage, you will typically pay a monthly fee and then take home a hefty commission. This model attracts many great agents because of the high commission splits. It also saves money on the costs that are associated with running a real estate office.
The real estate services and the agents are not virtual. The agents working for a virtual brokerage still meet with clients and show them homes. However, they simply work from their home or at a local Starbucks instead of having a traditional real estate office.
Essentially, any service that is based on advice is transmitted using audio, video, and text, which can come from anywhere in the world. As long as the agent who is providing the advice is credible, where they reside does not matter.
Commercial Real Estate
When it concerns commercial real estate, one may think that their agent should have some knowledge of the local market. However, in cases of small business owners that are negotiating a lease renewal, there is typically not a real estate broker involved.
In these cases, the question is, where did the commercial real estate owner get the market information from? In the end, it does not matter where the information came from! The point is that the owner has decided what they believe the rent should be.
As a small business owner, hiring a virtual real estate agent can be extremely helpful. A real estate lawyer can be very expensive as they base their advice on billable hours. Those hours come with a high price tag.
A virtual real estate agent will be able to provide the business owner with advice about their lease for a one time fee. This fee is often at a reduced rate because of the competition provided by the internet. In addition, the advice is given behind the scenes, which means that the tenant will still have control over the negotiations.
Access to the Best
When it comes to the future of real estate, virtual real estate brokerages are where it’s at. People are going to demand the best when buying or selling both commercial and residential real estate. Being able to access thousands of agents across the globe will provide them with the opportunity to find exactly what they need.
As with many other types of businesses, the internet is creating an environmental change. When it comes to real estate, this change is improving the way that people can buy and sell properties.