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Realtor Wonders If It's Better To Office From Home

To office or to home office? That is the question for one Realtor who wonders if it will be to her advantage.

Realtor A writes, "I was reading an article on realtor.org about home offices. I am thinking of leaving my office and putting an office at home. My husband does not think it is professional, but I disagree. I have been a Realtor for a little over a year and I am writing to you to ask what you think. I would really appreciate some feedback."

Realty Times responds:

That depends on several factors: how self-motivated you are, if your broker provides office space, and if you have the right office conditions and equipment in your home to make it work.

While it may seem like a time-saver and convenience to work from home, it also requires a lot of discipline not to fritter away the time you're saving when you aren't commuting. You may start out with enthusiasm, but quickly find yourself wandering around the house in your pajamas, unfocused and unmotivated, drinking coffee and doing the laundry. Think hard about what motivations you respond well to -- is it being with other people? meetings? or quiet, alone time to knock out your work?

As a relatively new agent, can you really do without the weekly meeting at the office, floor time, volunteer work, networking and other things that go along with being part of an office? It would benefit you to meet as many agents as possible and start networking with them. Offer to sit their open houses with them. Copay on mailers and share other services when you can. Organize buyer caravans if the office has several listings in the same neighborhood. It helps create excitement and promotes you from "new agent" to "colleague" in the eyes of your peers.

Without knowing more, it's obvious that you don't have a great relationship with your broker. Obviously, it's one where either he/she isn't doing much for you or you aren't doing much for the brokerage, or both.

Perhaps that's why you think you'll prosper more in a different environment. Maybe working at home is what you need, but you might also consider moving to a different brokerage if you feel that disconnected.

That raises the question. Why did you choose to join this broker? Many agents are tempted by "license hanger" brokerages who promise high splits in exchange for few services, but a high split does you no good if you aren't making any sales. It's far better to start with a broker who can provide the technologies, training, support services, and brand appeal. Your split will be less at first, but there's a reason for that -- you'll have a much greater chance of capturing buyers and sellers using your broker's help and prestige.

Do you have small children? Is that why you are thinking of working at home? That's how a lot of Realtors get started, but again you have to have strong discipline to work with children around. You have to keep interruptions to a minimum. You have to set limits -- that during your phone time, they are to remain quiet. You have to watch your time so that you don't allow what should be a full-time job with flexible hours to turn into a part-time job.

That said, one of the benefits of becoming a Realtor is flexible hours, so enjoy those moments when you can close shop and attend your son's ball game or your daughter's recital. Volunteer at your children's school -- it's a great way to meet other parents and teachers. Get familiar with the Teacher Next Door program from HUD.gov and help the teachers in your children's school become homeowners.

Last, if you are considering home officing because of expenses, keep in mind that if your broker provides you with a place to work, you can't write off your home office on your income taxes. If you could prove to the IRS that you don't have an office anywhere else but home, that's a different story.

Setting up shop on the dining room table isn't going to work. You need a dedicated office space that's yours and yours alone. If you have such a space, great. If you don't, keep in mind that office conversions don't net much when it comes time to sell your home, according to a NAR Cost vs. Value remodeling survey. However, home offices are among the amenities that many home buyers want -- as long as another important space like a bedroom hasn't been sacrificed.

At the very least, today's computer networking software, hand-held devices and e-mail-ready cell phones means it's easy to stay connected. If you are intent on working at home, make sure you have the tools to be efficient -- a wireless laptop you can slam shut and take to the car, a cell phone enabled with bluetooth technology and wireless e-mail means you can wear an ear device without having to dig into your purse whenever the phone rings.

Keep in mind that networking is an important part of the job; make sure you attend all MLS, brokerage and industry events that you can. To keep your name in front of people, make sure you include a lot of networking phone calls to your colleagues in your daily prospecting routine.

Good luck to you.

Published: August 3, 2006

Use of this article without permission is a violation of federal copyright laws.




Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.


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Review - Honors

In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.

     

Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.


Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR

"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors

Coverage from WSMV, Nashville - 8-14-2007

That Interview Guy - Get Inside The Head Of Today's Generation
2007 AE Institute Session - To purchase
2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9
HouseValues Mastermind call - Parts 1 2

Blanche's fireside chat with Jeremy Conaway, HAR - Click here.

For more articles by Blanche, click here.







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