What Is It Like Working With a Virtual Real Estate Company

The uncertain environment today due to the global coronavirus pandemic has understandably caused some anxieties among real estate brokers and agents. A large number of them are single-income earners, and when you cut off the source, they are left spiraling out of control.

The real estate brokerage industry in the United States was estimated to be worth $160 billion in 2018. The value is projected to increase by three billion by the end of 2020. However, adjustments are in order, especially with the coronavirus that grounded most economic activities to a halt.

While everybody is told to stay at home to flatten the curve, agents and brokers do still have a choice despite the quarantine measures. And this is where a virtual real estate company comes in.

What is a Virtual Real Estate Company? 

In simple terms, it is like a virtual office where you get the full support of a well-established network and successful marketing campaign. The real estate agents will retain their independence, which means they own their time and set their schedules. They do not need to log in and log out of a physical office.

The best thing about the virtual real estate company is that while they help link you with your markets, you get 100% of your commission when you close a sale. However, make sure you work with the right eRealtor advisor. Some websites purport to give you the full commission but with strings attached.

What It’s Like to Work in a Virtual Realty Office? 

Different online real estate companies have various business models. You want to work with a brokerage firm that only requires a monthly membership fee. It means there are no hidden charges, no desk charges, and zero franchise fees. You also need to cover the required insurance (pass-through errors and omissions) once the deal closes.

When you sign up, you will already get the benefit of a vast network of support. The company will work behind the scenes to enhance opportunities for you. The system is ideal for newbie agents who are still trying to learn the ropes. Ultimately, they will get access to effective marketing strategies and best practices, which they can use to boost the likelihood of success for their business.

The full commission is very appealing for real estate agents. With the traditional setup, you will split the money with the broker, which does not seem fair to some when they are doing all the work.

With virtual real estate companies, the fees could either be very minimal or even zero. They manage to achieve this because of the lower overhead costs. For instance, they are no longer paying for an office lease, utilities, maintenance, and janitorial services since everything is online. 

Another thing is the back office support staff, which is invaluable for new real estate agents. The knowledge and skills you gain from the training will only improve your chances of succeeding. The access to multiple listing service also gives you a kickstart in your business.

Finally, joining a virtual real estate company means you will have access to a network of real estate veterans who can serve as a mentor as you carve your niche in the industry. All that for a small membership fee, which you will admit is a bargain.