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When I talk to real estate professionals in my role as Director of Growth for eXp California, one of the things that people ask about is the physical location or office space where they’d work. Even though brokerages no longer require desk duty or floor time, and many don’t even provide dedicated desk space to agents, the idea of a virtual brokerage is still a challenge for some.
In reality, however, your brand is, well, you. That means establishing yourself with your own physical office space makes far more sense than working out of a space that’s branded with someone else’s name, colors and logo.
Here are just a few of the many benefits of maintaining your own office space:
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An office that’s branded for you helps you to create a more professional image. It establishes great credibility and trust and assures clients that you’re a serious, dedicated full-time agent.
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Having your own office provides you with a space for privacy and focus. You can work the hours when you’re most productive rather than conforming to someone else’s schedule.
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Maintaining your own office offers tax benefits and deductions for everything from cost to depreciation to improvements, depending on whether you buy or rent. (As always, be sure to talk to your tax advisor about your specific financial situation.)
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Establishing your own office makes you part of a community, both geographically and professionally. Leverage your enhanced presence through the Chamber of Commerce and through small business-focused community events.
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Make your office work harder for you when you make it the setting for training and client appreciation events. Add storage and organization features to increase your efficiency and productivity.
The best part? Even if you change teams or brokerages, most will allow you to have a branch office, so you can establish yourself in a space and stay there for the long haul.
Here are some great options if you’re thinking of creating your own real estate office.
Coworking space
If you’re just getting your feet wet and don’t yet want to commit to renting a commercial space, a coworking space is a great first step. Your membership is often month-to-month, so if you’re not happy with the first place you try, you can find another that you prefer.
Many coworking locations include reserved spaces like conference rooms and podcast studios, offering even more flexibility and affordability. Look for a place that hosts meetups and professional development events so that you can get to know the other entrepreneurs and business owners in your space.
Historic district cottage or bungalow
Many in-town historic neighborhoods include mixed-use residential/commercial houses that have already been renovated and converted into offices. This gives you the opportunity to create a homey atmosphere that makes potential clients visualize their own dream space. You may also be able to rent out desk space to other entrepreneurs and offset your monthly rent.
One advantage of this option is that you’ll have at least a small lawn. This is a great location for outdoor client events like cookouts or Easter egg hunts.
Main Street storefront
Grab a downtown location close to the coolest neighborhood coffee shop, barber shop, salon or local dentist and take advantage of the visibility and foot traffic it provides. As you make yourself an integral part of the community, and of residents’ everyday routine, you’ll become a familiar, friendly face and a valuable resource for local real estate market information.
Trendy loft space
Converted mills and factories often have loft-style mixed-use office and residential spaces that you can use to create a cool, youthful vibe. Get to know your neighbors, host client appreciation events, and become part of the lives of the residents, business owners and employees you meet up with each day.
Warehouse space
Looking for wide open spaces? An industrial-style warehouse space may be just what you’re looking for. This is a great option if you house a lot of furniture and accessories for home staging, or if you maintain onsite printing equipment or other large items. You can even park your cool car there as a fun conversation starter.
All of these spaces offer you the opportunity to do something fun and different in a setting that’s uniquely your own. Raise your profile and visibility by creating an office that’s geared toward the niche, interests and micro-markets where your ideal client can be found.
