I’m a home office, solo lawyer. That works for me because I’m disciplined enough to still get work done, and I don’t waste time commuting to and from some official (and expensive) work space. My real work is usually done in court anyway!

Some multi-lawyer firms are moving to virtual arrangements. As Sarah said, if people are still reachable and they’re trustworthy, it doesn’t matter where people are working.

I’m a home office, solo lawyer. That works for me because I’m disciplined enough to still get work done, and I don’t waste time commuting to and from some official (and expensive) work space. My real work is usually done in court anyway!

Some multi-lawyer firms are moving to virtual arrangements. As Sarah said, if people are still reachable and they’re trustworthy, it doesn’t matter where people are working.

I see that managing Brokers like office space so they can keep a watchful eye on their independent contractors. Let’s face it, brokers look at us as employees, not independent contractors. I heard a broker the other day punish an agent for not being in the office often enough. She had not come in for a month so he wouldn’t let her sit at the Duty Desk. First, sitting at a Duty Desk is no prize! Second, she’s an independent contractor who sets her own hours and if she decided to take a month off, so be it. That’s her choice. Third, there is no rule that says you have to be in the office a certain amount of hours to get the “privilege” of being an unpaid receptionist. The broker was mad that they couldn’t control the agent’s activities. The agent has the right to not come in to the office.

I have explored the virtual office scenario and I think it works for some agents and brokers. If you are a good broker who can be reached by various modes of communication/ technology, the virtual office should work for you. If the broker only hires experienced, trust-worthy agents then a virtual office should work for you. If you are an agent that has experience and only needs a broker for larger issues, then a virtual office should work for you. If your clients aren’t impressed by the office atmosphere and don’t mind meeting you at your house or in a coffee shop, then a virtual office may work for you.

There are benefits and risks to both business models. I personally see the advantages and disadvantages of both and will need more time before I decide which model is best for me and my clients.

I see that managing Brokers like office space so they can keep a watchful eye on their independent contractors. Let’s face it, brokers look at us as employees, not independent contractors. I heard a broker the other day punish an agent for not being in the office often enough. She had not come in for a month so he wouldn’t let her sit at the Duty Desk. First, sitting at a Duty Desk is no prize! Second, she’s an independent contractor who sets her own hours and if she decided to take a month off, so be it. That’s her choice. Third, there is no rule that says you have to be in the office a certain amount of hours to get the “privilege” of being an unpaid receptionist. The broker was mad that they couldn’t control the agent’s activities. The agent has the right to not come in to the office.

I have explored the virtual office scenario and I think it works for some agents and brokers. If you are a good broker who can be reached by various modes of communication/ technology, the virtual office should work for you. If the broker only hires experienced, trust-worthy agents then a virtual office should work for you. If you are an agent that has experience and only needs a broker for larger issues, then a virtual office should work for you. If your clients aren’t impressed by the office atmosphere and don’t mind meeting you at your house or in a coffee shop, then a virtual office may work for you.

There are benefits and risks to both business models. I personally see the advantages and disadvantages of both and will need more time before I decide which model is best for me and my clients.

Thanks for the comment. FWIW, I think you’re 100% on the money that brokers need to balance the need for physical space vs. need to save money in the connected world of today’s realtor.

My question is… in balancing that, does a broker/owner/manager have metrics (even industry averages) of the impact of office setting on agent productivity? Wouldn’t that be an awesome study, to see how being in the office vs. being virtual impacts productivity over a period of time?

That way, a broker can make rational decisions on how much space is really required without damaging the company’s productivity to the point of losing money by trying to save money.

-rsh

Thanks for the comment. FWIW, I think you’re 100% on the money that brokers need to balance the need for physical space vs. need to save money in the connected world of today’s realtor.

My question is… in balancing that, does a broker/owner/manager have metrics (even industry averages) of the impact of office setting on agent productivity? Wouldn’t that be an awesome study, to see how being in the office vs. being virtual impacts productivity over a period of time?

That way, a broker can make rational decisions on how much space is really required without damaging the company’s productivity to the point of losing money by trying to save money.

-rsh

But it’s obvious that good agents are out of the office working much of the time, so having dedicated space for every agent doesn’t make financial sense either. The answer is probably a hybrid…smaller space with shared work stations. And let’s face it, with the changes in the real estate world, there are new innovations in technology, social media, financial analysis, etc. that even the most seasoned agents can benefit from learning about from their colleagues, just as those colleagues can learn from their experience and market knowledge.

And maybe I’m old-fashioned, but if I’m entrusing a major real estate transaction to a practitioner, I kinda wanna know that they have “a real office.” The real question is not virtual vs. brick and mortar, but the right balance of both.

But it’s obvious that good agents are out of the office working much of the time, so having dedicated space for every agent doesn’t make financial sense either. The answer is probably a hybrid…smaller space with shared work stations. And let’s face it, with the changes in the real estate world, there are new innovations in technology, social media, financial analysis, etc. that even the most seasoned agents can benefit from learning about from their colleagues, just as those colleagues can learn from their experience and market knowledge.

And maybe I’m old-fashioned, but if I’m entrusing a major real estate transaction to a practitioner, I kinda wanna know that they have “a real office.” The real question is not virtual vs. brick and mortar, but the right balance of both.