A note of thanks to Marc and Brian of 1000Watt Consulting, Joel Burslem of FOREM, and Ash Munshi of Terabitz for their contributions to this topic.
Picture this…
You own a brokerage in a major city. You are an established name. And like everyone around you, you currently suffer at the hands of the real estate downturn.
Business is down 40% and your costs are spiraling out of control. Costs that include:
Print advertising. A surplus of marketing, IT, managers and support staff. And a lease for office space that provides too much room for too many agents who have no need for it.
This image is filled with roll-top desks, conference rooms and employee break rooms. It could be an office in any town, in any city, in every corner of the United States. And somewhere, in some lonely office within it, the sound of CFO’s weeping only masked by the whispers of agents talking near the coffee pot can be heard.
“So… how’s your business”
“Business? It’s really tough out there.”
“Yeah. Did you hear about Steve? He went to (competitor X) the other day?”
“Really? Wow… Sally took a part time job at Coffee-Joes.”
“Huh… That’s smart. Gives you a little cushion.”
“Yeah. I’m hoping the Spring Market kicks in soon.”
“Uh-huh. Maybe the stimulus thing will help. I wish it was still $15K.”
“Well, I spent some money on a program to get some Internet leads yesterday.”
“Really? That’s a good idea. I just started a blog.”
“That’s a great idea. I heard about that Social Internet. That’s where the buyers are…”
“Uh huh… I’m going to focus on the Luxury Market.”
“Well… I’m gonna go to some broker’s opens. Wanna go?”
Do these images look and sound familiar?
What it could look like .
Unlock this door and enter a 2,000 sq. foot space. Inside are half a dozen customer service people with varying degrees of specialties that range from sales to legal to mortgage services. Outside, an intern arranges the courtyard space that includes tables and chairs that run along the sidewalk. Outside, music is piped in from satellite radio. Inside the flat screen panel televisions spark to life. The smell of fresh locally-roasted coffee roasted specifically for your company and branded with your logo begin to fill the air as a local pastry company delivers trays of treats.
The agent “sitting floor” dons a headset connected to her computer linked by VOIP to a central server that holds all the company listings, information, and agent contact information. The first call of the day arrives. Since the caller dialed an extension for property information, before the call is answered, the property 
information, pictures, property videos, neighborhood market information, tax information and comparable properties are populated on the screen.
The agent who answers the call is instantly able to provide all the information to the caller. Since they are part of your “Client Care” group they can communicate effectively and intelligently with the caller on all buying and selling . The selling agent’s schedule also appears on the screen, so the sitting line agent can setup a buyer’s interview an hour before a the appointment, which is sent immediately to the selling agent’s handheld.
A stream of passerby’s stroll through the door taking advantage of the ancillary services made available to them. Whether it sipping coffee, accessing the web from the mini bar of computers, stock quotes, RSS news feeds, and short video spots of properties and the company’s current CSR projects flow across the LCD screens as they wait. For those have brought their laptops they freely tap into the Wifi provided and log in from the companies branded webpage that also includes local news feeds, real estate information, videos of homes for sale, current market statistics, and more.
Outside the brokerage their solar powered sign displays the time, the temperature, current interest rates, as
well as the # of kilowatt hours this particular office has saved by doing their part to go green. A fleet of Zip-Car hybrids that sport the company logo on them are parked out front available for both agents and local residents to use upon request. A number of dog bowls with fresh water line the side of the building and in the windows are pictures of local school outreach programs, sports teams, and children’s social responsibility groups that this brokerage has been a part of.
A young couple enters and is immediately greeted by an office manager who answers their many questions about the current real estate market. As a result of this discussion, which reveals them to be first time buyers, their needs are 
matched to the appropriate agent rather than whoever happens to be free at the moment.
The right agent greets the couple and takes them through the process of buying a home, the benefits, potential downfalls, and explores their short – mid – and long-term goals. He discusses school districts, why they are looking to buy a home right now, the current state of the real estate market and then asks if they have learned about “Financial Responsibility in Lending” yet. The couple replies no.
The agent invites the lending professional who occupies space inside this facility. They present a “Financial
Responsibility” worksheet for these first time buyers. It’s a multi-paged brochure that discusses the responsibilities associated with mortgages, what is needed to apply for one, and what type of information will be required to apply for a mortgage.
An interested lunch crowd is invited to gather and attend an impromptu performance that includes a set list of economic talking points such as “Improving your Credit Score” and the Are you stimulated by the housing bill. This free seminar is held 2 times a week and is part of the “Home Buyer Education Curriculum”. A free flash drive containing budgeting software, articles, and a copy of the presentation is provided to each of the attendees upon completion of the seminar.
Wouldn’t YOU want to work here?
The real estate office of the future starts… and ends… with the real estate Company of the future. I think that this is a good start.
Matt Dollinger
Read more like this at The You Factor.com
Real estate utopia with a 140 degree soy latte, no foam please
This is definitely the place where I would love to work. When our small company brainstorms about real estate in the future, all of these ideas and more come up in discussion. Even if you implemented 1/2 of the items above, you would have a real estate company that is customer centric and not driven by the companies large ego, but rather their good taste in coffee, branding, technology, and “Get by Giving” philosophy. Chris
matt, nice piece and spot on. as you know we use to have many conversations relevant to where and what had to happen to the traditional brokerage model in order for it to survive. Restructuring the work place is only one piece, and honesty, one that is more beneficial to the brokers bottom line then agents ability to survive. Heck, agents figured out long ago that they don’t need a shinny office to be good, or deliver what their clients asked of them. No, the biggest change needs to happen inside the relationship (broker to agent & agent to client) and how we present ourselves to the consumer. That one is little harder to manufacture, but without it, we will become obsolete.
Well done. Lots of people like to complain about business being down–it takes courage to continually be willing to change with the times. The rules for succeeding at real estate 40 years ago will NOT work now. EVOLVE people! Whining that it isn’t going well won’t help. You’ve got to be smart and flexible to survive. The weak and the lazy will likely not make it.
I am an independent Broker who had big visions at the wrong time and the scenario at the beginning of the post really hit home! But I was totally drawn into the office of the future you described as the post continued. For the first time in a long time, my reason for doing this became clear again! I had only positive images and feelings about real estate and the future of our business! My passion was reignited! THANK YOU! Lets all make an effort to make it happen!!! Its not just about the home buying/selling transaction anymore. I’m sure going to spend my weekend reevaluating the services I provide to my clients!!!
I love the concept…well most of it! And we can both agree that it wouldn’t be me (and my voice) to not bring “reality” into it… I agree to lose the “image”… it’s not about big offices, expensive cars and fancy ad campaigns. It is about the work, the ethics and the service. It is out the implementation of creative and aggressive marketing plans and brainstorming to accomplish the goals that the buyers and sellers have set. It’s about education and working as a team. SO, I love the concept…but really do we need a barista and fancy flat screen TVs? (Although the dog lover in me loves the idea of the water bowls.) Come on Mr. @ Properties…lose the “image”. Get down to the basics…it’s about agents working hard, getting dirty and getting real, for the sake of the industry and more importantly, for the sake of the clients! And now, I will step down from my soap box. Great post though…
Other tangent for another day…one stop shopping, not a fan! Nor are most of the consumers…
Hey Matt,
Thanks for the props and for this great post. As you know, my firm is actively involved in some of the most important discussions taking place in real estate – the one that most brokers are having that begin with the phrase – WHAT DO I DO NOW?
This regards what do they do now that newspapers are going out of business and present no ROI at all.
This regards what do they do now that their agents no longer find value in their brand.
This regards what do they do now that they realize their website is old, pointless and serving as placeholder for their brand rather than a vibrant, brand building, lead generating powerhouse.
This regards what do they do now that their expenses are like a bad smack habit and all they can do is continue to make excuses why they need to keep cooking them up every month rather than going cold turkey. Phone leases. Copy leases. Tenant leases, marketing costs, etc.
There are alternatives. As you know for our discussions. I think its great that you are broadcasting them out to the industry.
Great article!! I have been in this business since 1986. I try very hard to stay with or a step ahead of the flow! I love the idea of the future office. I have dropped the Brand that I was with for five and one-half years. I am now gearing my company towards the agents by offering them 100% commission. I am getting a great response.
Thanks for the ideas!