Before Covid, remote working was unheard of. The thought of working from home seemed bizarre, especially in the real estate business. Everyone thought the transition to work from home was temporary until Covid decreased. Since 2020, remote working has become normal.
How Has Remote Working Changed Daily Lives in Real Estate?
Remote working has changed several factors in the real estate business. Instead of giving tours of a property, the real estate agent might set up a self-guided tour for someone interested in leasing the property. This is a considerable change for real estate agents, as much of their work involves showing homes for sale or lease.
Real estate agents collect digital signatures now instead of meeting in person to collect signatures. Real estate agents have had to change what they are used to doing for work every day and find ways to do it virtually.
Essentially, remote working has helped real estate agents save a lot of time by not having to be on the go constantly. Many interested in a real estate career benefit from shadowing real estate agents, even if it is virtual. Shadowing a real estate agent who works remotely helps prepare new agents for this type of work.
Do Real Estate Agents Have to Live in a Fixed Location?
Typically real estate agents live close to where they do business. Living close by to where they sell properties allows them to be available time-efficiently. However, remote work has changed this aspect of the real estate business.
Many real estate agents and realtors are no longer required to live in a fixed location because it is no longer critical. If most of the work is done virtually, real estate agents have the option of living not so close to their office.
How Does Remote Work Impact Real Estate Agents Financially?
With most work being virtual and only having to go to the office part-time, real estate agents will be able to save money on transportation, food, clothing, and many other expenses. The move to remote work is beneficial for agents in many ways and can help real estate agents excel in their work.
Transportation Costs
Real estate agents typically spend so much time traveling from one place to another. Filling a car with gas can be expensive, especially when filling up your vehicle more than once a week. Without being on the go so frequently, real estate agents can save money on transportation costs.
Office Expenses
Many real estate companies have most of their agents working most of the time virtually. Since they no longer have to be at the office, some real estate offices are closing and are basing their business online. If real estate agents make arrangements to meet their potential sellers and buyers in neutral locations, they no longer need to have the office space.
Without an office space, the company saves money by not having to pay for office space. In addition, most potential home buyers search for the homes they are interested in purchasing online.
In years past, prospective home buyers used to go to the real estate office to look for homes. There are many reasons why office space is becoming irrelevant, and real estate businesses can save money by staying virtual.
More Sales
Since much of the country has moved to remote work, many individuals or families feel that they no longer need to live close to their jobs. Since 2020, many Americans have moved into larger homes simply because they no longer need to live close to their job to commute.
With virtual work, there is much more flexibility when choosing a location to live. Employees also save money by staying home, resulting in them can afford a home rather than a small apartment.
What Do You Need to Prepare to Work Remotely As a Real Estate Agent?
It is not as costly as you might think to work remotely in real estate. To get started, real estate agents need to ensure they have these items. The cost to purchase these items is estimated and can vary depending on what you are buying and the brand you choose.
Computer $425
High-speed internet $80-$150 per month
Desk space $100
Comfortable chair $100-$200
Phone - No added cost if you use your number
Printer/Scanner $150
Filing/Storage space - Use folders or computer for storage
Software (Zillow Premier Agent, Quickbooks, Real Scout, Everlance, Home Value Leads) - Price varies
The cost of all these items is typically affordable and should not exceed much more than $1,000.
Why is Remote Work in Real Estate Trending Since the Pandemic?
Since Covid, the idea of working remotely has been trending upward. Real estate agents no longer are required to be at their office full time, and they no longer need to meet in person with buyers and sellers to collect signatures and review paperwork.
The main idea of remote work since Covid has been to keep employees safe and help to stop the spread of Coronavirus. Since the start of Covid in 2020, remote working has become standard today. Many real estate agents are encouraged to work from home for convenience, not just because of Covid.
Even though life is slowly returning to what it used to be before Covid, remote work is likely here to stay for many reasons. Staying at home to work provides more flexibility to real estate agents, saves money, can reduce stress, and might even contribute to more sales.