The global pandemic of coronavirus hit us like a truck. In just a few weeks, life, as we know it, has changed. And there is no certain fact when will we go back to normal.
We had to say goodbye to everything we used to do each day, and there is no certain time when will we be able to go back. The uncertainty combined with fear made this global pandemic even harder.
It took a toll on us, and so many people have lost their jobs due to their place of work being closed. Some places carry a much higher risk than others, so the government of many countries decided that they’re better off closed – but so many people are out of a job.
Thankfully, some others can easily work from home or work some time in the office, and some remotely. What about real estate agents?
Can real estate agents work from home? Read our article to find out the answer, and more!
What Do Real Estate Agents Do?
Maybe you’ve come across this job and had to idea what does a real estate agent does, exactly. So let’s settle that first.
A real estate agent’s job is to work with clients for them to buy, sell, or rent a property of any kind. They are educated on current market conditions, they will walk the client through every step of the way towards buying or selling, and even leasing a property.
In other words, the real estate agent is a person that guides you through the process. The agent earns a commission on practically every property they help sell, purchase, or rent.
So, real estate agents are kind of self-employed. They do owe the agency or the broker a small fee or portion of the commission as a beyond the desk fee or as a promise to uphold the agency’s reputation.
What Are The Benefits Of Working From Home?
Well, the first one that comes to mind is less exposure and less risk from contracting coronavirus. We all have to stay as safe as we can because after all, it’s up to us.
If we’re responsible and stay at home as much as possible, the sooner this is all over. But, what are the true benefits of working from home?
Less Travel Time
- Sure, if the brokerage you work for is pretty close, it’s tempting to come in every single day. Now, that’s just considered irresponsible. Some people when they started to work remotely just figured out how much time they save during the day.
- That means you have more time to spend doing whatever you like. Another benefit? You don’t have to spend as much money on gas or other travel accommodations.
- Many real estate agents prefer to do as much work as possible from home. They already have to travel on-site to show a property, so if it’s possible to skip going to the office that day, every agent will do it.
Flexible Work Hours
- Of course, every real estate agent has to work during the day and usual business hours, but there are some things you can finish working on long after the regular office has closed down.
- If you carry your laptop with you and keep all your files on a cloud or backup, you can easily access whatever you may need. You can plan out your day differently and get so much done if you don’t have a strict time when you need to dive into work.
- If you have issues with your laptop and have no idea which laptop to buy to replace it – read our article to see our top choices on backlit keyboard laptops!
- If you have a family, especially a large one, you will appreciate that the most, but almost anyone can enjoy working under their own rules.
Cutting Down On Business Expenses
- Furthermore, many agents chose to work from home long before the global pandemic appeared. Why is that?
- Because the desk fee in many brokerages can be quite expensive. According to our research, as much as 76% of realtors choose to work independently because the desk fee can be as much as $15,000 a month!
- Let’s check out the number of realtors who pay a desk fee:
|$500 – $1,000||4%|
|$1,000 – $1,500||4%|
|$1,500 – $2,500||2%|
|$2,500 – $5,000||3%|
|$5,000 – $10,000||1%|
|$10,000 – $15,000||1%|
|More than $15,000||1%|
- Working at a brokerage and paying a desk fee can prove to be truly fiscally irresponsible, despite the benefits it may have – why pay an obscene amount of money for a desk fee when you can save that and work independently?
- On the other hand, some realtors choose to work in the office. Some state it’s because they focus much easier to get the job done when they’re in a professional setting.
Cons Of Working From Home
Sure, working from home has many benefits, especially in an unpredictable time like this. However, it opens up the door to many disadvantages.
Sure, you have to make do with whatever you have at this moment. But, keeping these things in mind when you’re working from home Let’s see what they are:
- When you’re working from home, you could miss out on a lot of things regarding your work. For example, interaction with your colleagues is beneficial to your work in many ways.
- When you talk to your colleagues, you could get a lot of information and news about the current global market. Also, you could get a lot of advice from someone who’s working in the field longer than you.
- So, if you’re new in real estate, or your success could be improved, a visit to the office from time to time is a great idea. Once the pandemic is over, you could even think about moving to the office part or full-time.
- Another thing: if you work under a brokerage, you may miss out on many opportunities when you’re staying home. If your brokerage has a high number of walk-in clients, you may miss out on many opportunities to earn that commission.
- If you love to keep a planner to stay on top of your activities and duties, check out our article on the best pens for this exact purpose!
- When you’re opening a home office, you may be facing a lot of distractions when you’re going on about your day. If your family has never experienced a member working from home before, they may face difficulties adjusting to this new situation.
- For example, they may not realize you still need some peace and may be tempted to ask you questions and interrupt business calls. Especially if you have/live with small children – they may not understand you need to be left alone.
- On the other hand, you may experience that you can still do stuff around the house while you’re working. So, you could catch yourself cooking or putting away some laundry while you’re in-call.
- Everyone working remotely is guilty of doing things like this, so don’t beat yourself up about it. If it doesn’t affect your productivity in the long run, it’s fine to do a few things around the house. However, if you feel you’re losing focus, you may need to work on it.
Extra tip: Try to dedicate a room in your house for work. Making a home office will improve your productivity and it will create a feeling you’re out in the real office, and not stuck at home due to lockdown. If you don’t have a room to dedicate to this specific purpose, a divider screen will do the trick just fine. Some divider screens can be found in under $20!
Rules And Regulations
- If you’re looking to move permanently into a home office and stop going to the brokerage altogether, you may need to check up a few things first.
- You may require an official approval from your real estate broker before you start advertising your home office address as the home office. Also, check out the guidelines regarding home offices with the State Commission – you may need approval from them as well. Don’t start advertising your new office before getting the okay from both parties.
Can Real Estate Agents Work From Home? – Conclusion
To conclude, real estate agents can work from home. Actually, there are quite some pros regarding a realtor home office.
You can save a lot of money working from home and even save up on desk fees if you decide to work as an independent real estate agent. You can boost your productivity by organizing your day the way it works best for you.
Working from home is beneficial because you have more control over your work life. You feel more comfortable at home – like we all do.
On the other hand, you may experience a lack of focus because you’re too comfortable. Your family may not be helpful in these situations – they may not realize you need peace in order to work. Distractions from family members is the number-one issue regarding home offices.
If the home office deal works well, even too well for the time being – consider moving the office permanently. Just make sure the pros outweigh the cons!