Cloud Based Real Estate Brokerages: What You Need to Know

Cloud-based real estate brokerages have revolutionized the industry by providing a more efficient and cost-effective way to run a business.

They can be accessed from anywhere, at any time, as long as there is an internet connection.

This flexibility is particularly beneficial for agents who are always on the go, as they can access their client data and listings from their mobile devices.

Cloud-based systems also enable real-time collaboration and communication among team members.

With cloud-based brokerages, agents can easily share documents, communicate with clients, and access market data.

This level of integration and accessibility has significantly improved the customer experience and increased productivity.

Cloud-based brokerages also offer scalability, allowing businesses to grow without the need for expensive hardware upgrades.

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A cloud based real estate brokerage is a web-based platform that allows agents to work remotely from the comfort of their own homes. This setup is especially beneficial for experienced agents who maintain a large network of contacts and don't require much instruction.

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Virtual brokerages provide agents with the flexibility and support they need to succeed, freeing them from the constraints of a traditional brick-and-mortar location. They can work with buyers and sellers remotely, using digital technologies to facilitate the buying and selling process.

Virtual tours of properties, online contract signing, and payment processing are all part of the digital tools that virtual real estate brokers use to get the job done. By relying on these digital tools, agents can save on rent and other expenses that would be associated with a traditional office.

This can be a significant cost savings, and it's one that can be passed on to clients through lower fees. In fact, virtual real estate brokers can save on rent and other expenses by up to an amount that can be passed on to their clients through lower fees.

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Starting a cloud-based real estate brokerage can be a game-changer for your business.

Having a physical office can limit your client and property pool to a specific local area, whereas a cloud-based brokerage allows you to expand your geographical focus, giving you access to a far bigger market.

Switching to a cloud-based brokerage can save you thousands of dollars monthly on renting and maintaining physical office space.

A remote working environment gives your agents more free time by cutting out their commute and providing flexibility regarding working hours and location.

This flexibility can be attractive to potential talent, and one of our clients has even been able to achieve their dream of moving to Hawaii and running their brokerage from there.

The digital-first approach is rapidly becoming the norm in various industries, and real estate is no exception.

Moving your brokerage online will only become more difficult as your business grows, so it's essential to prioritize it now.

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With a cloud-based real estate brokerage, you can expand your reach far beyond your physical office's geographic area. This means you can market properties to a statewide or nationwide market, tapping into a much larger pool of potential buyers.

A virtual brokerage allows you to market properties to buyers across the region, state, or country, as seen in the example of a property listed on the outskirts of a city. This opens up endless opportunities for growth and success.

Having a good internet connection and being willing to adapt to new technology are all you need to take advantage of this flexibility.

A remote real estate brokerage is a game-changer for flexibility and geographical scope. It has no physical headquarters, and staff work remotely, usually from home.

Client meetings occur via video call, and essential in-person meetings happen at a third-party space like a coworking office. This setup is a far cry from traditional brick-and-mortar brokerages that have dedicated physical offices.

Here are some key differences between remote and traditional brokerages:

Having a physical office presents several benefits, but it's worth considering the advantages of working remotely, especially for those who value flexibility and work-life balance.

With a virtual real estate brokerage, the opportunities are endless – all you need is a good internet connection and the willingness to adapt to new technology.

You can tap into a statewide or nationwide market, expanding your reach beyond your physical office's geographic area.

Imagine having a beautiful property listed on the outskirts of your city, and being able to market it to buyers across the region, state, or country.

This level of flexibility can be a game-changer for your business, allowing you to attract clients and close deals from a much broader area.

Technology and software are crucial components of a cloud-based real estate brokerage. The best online real estate brokerages offer agents a wide range of software to support them with significant real estate tasks.

For example, Agent Crate is a marketing and social media tool that includes pre-made social media content, social media ads, and customizable videos. This can help agents easily build a strong social brand.

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A good virtual real estate brokerage's technology can make a huge difference in an agent's experience. Traditional brokerages often have fewer software options, leaving agents to choose and pay for additional tools on their own.

Transaction management software is a valuable tool for virtual real estate brokerages, allowing teams to collaborate on the transaction process no matter where they are located. This can help prevent deals from falling through the cracks.

A well-structured CRM is essential for managing sales, leads, and client data. Without a good CRM system, essential communication with clients can fall through the cracks.

Cloud storage is also a must-have for cloud-based real estate brokerages. It provides a secure and scalable way to store business files and documents online.

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Starting a cloud-based real estate brokerage is a straightforward process, especially in California where you can easily set up a virtual office without a physical location. You can start quickly and save on expensive advertising campaigns.

To streamline your operations, you'll need to properly set up your virtual real estate brokerage by following an essential checklist. This includes ensuring your business runs smoothly and efficiently.

You'll need the right tools and software programs to facilitate seamless operations, and proper administration setup is key to your virtual real estate broker's success.

Starting a business can be a daunting task, but with the right mindset and preparation, you can set yourself up for success. To start a virtual real estate brokerage, you must take the proper steps to streamline your operations and ensure your business runs smoothly.

The first step is to plan your transition, taking time well in advance to consult with all your team members and plan the logistics of how your brokerage will function once it goes remote. Each of your agents will need to decide where they will work, if not in the office, and figure out what they need to do.

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To start a virtual real estate brokerage, you'll need to ensure you have all the necessary work-from-home facilities. This includes investing in a comfortable chair, desk, and any technology or software you may need to run your online brokerage.

You'll also need to plan your finances carefully for the transition period, as going remote will incur extra expenses as you set up facilities for each agent and your real estate business adjusts to its new target market. Although this change will cut your costs in the long run, it's essential to be prepared for the initial expenses.

To make your virtual real estate brokerage run smoothly, you'll need to hire a virtual real estate assistant. This can be done quickly and easily with the help of a reliable virtual assistant, who can take care of administrative tasks and help you build your online presence.

Hiring a virtual assistant can save you time and energy, allowing you to focus on high-value initiatives that will move your business forward. With the right virtual assistant, you can scale your brokerage and achieve your business goals.

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Having multiple income streams can be a game-changer for your business.

Keller Williams, the largest brokerage in the world by agent count, adopted a revenue share program in the early 2000s and it has been a huge success.

REAL has perfected the revenue share program and offers the most profitable one out there for agents, paying $4,000 a year for each agent you directly attract.

Just for comparison, EXP Reality only offers $2,800 for each tier 1 agent you attract.

Attracting 10 agents to your tier 1 unlocks your tier 2 benefits, where you'll receive $3,200 a year for each capping agent your tier 1 agents bring in.

Attracting 20 agents to your tier 1 unlocks tier 4 benefits, and 25 agents unlocks tier 5 benefits.

This is a huge opportunity for building passive income through attracting real estate agents to REAL.

Most brokerages don't have any revenue share program at all, making REAL's program stand out.

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If you can attract just 3 capping agents to REAL, you'll receive $12,000 a year from rev share, enough to cover your entire cap.

That's a goal worth aiming for – over the next 1-2 years, look for opportunities to have conversations with agents and try to get at least 3 in your downline.

Agents will be interested to know that they can earn free stock and have a huge opportunity for revenue share by joining REAL.

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Starting a traditional business can be a great option, especially if you're looking for a more hands-on approach. Traditional businesses often have a physical office, where employees and clients can interact face-to-face.

One of the main differences between traditional and virtual businesses is the cost of maintaining a physical office. This can be a significant expense, especially for small businesses.

Physical offices also require more resources to maintain, including utilities, equipment, and cleaning services.

However, some traditional businesses may not have a physical office, but instead operate from a home office or shared workspace.

Some key differences to consider when deciding between a traditional and virtual business include costs and commission splits, technology and software, training and mentorship, managing broker support, and the absence of a physical office.

Having a strong online presence is crucial for a cloud-based real estate brokerage. This means creating a website that showcases your credibility, brand identity, and makes it easy for customers to contact you.

A good website should focus on building credibility and establishing your brand's identity, rather than just promoting listings. Take Megan Probst, a real estate agent in Florida, as an example. She uses her website to explain her experience and expertise, and features guides to the different neighborhoods, establishing herself as an authority in her local real estate market.

To manage your online marketing efforts, consider using platforms like Amarki or Evocalize. These tools allow you to automate some or all of your marketing process, and can help you maximize your impact on platforms like Facebook.

Here are some key features to include on your website:

One of the biggest advantages of an online presence is that you can operate without face-to-face interaction.

You can move your brokerage business online and still provide excellent customer service, as the procedure isn't complicated if you follow the steps outlined.

Going online means you can cater to a wider audience and reach more potential clients, even if you're not physically present in a particular location.

By taking your brokerage business online, you can automate many tasks and free up time for more important things, like building relationships with clients.

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Moving your business online can be a game-changer for real estate brokerages. By doing so, you can reach a wider audience and provide better services to your clients.

If you're looking to take your brokerage online, don't worry, it's not as complicated as it sounds. You can follow the steps outlined to get started. The procedure is straightforward, and with the right tools, you'll be up and running in no time.

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One of the most important things to consider when moving your business online is your website. A good website is fundamental for any brokerage, especially when you go virtual. Your website should focus on establishing your credibility, building your brand's identity, and ensuring that customers can easily contact you.

Here are some key features to include on your website:

Remember, your website is often the first impression potential clients have of your business, so make it count. Take a look at Megan Probst's website, a real estate agent in Florida, for a great example of how to build credibility and establish your brand identity online.

In addition to a great website, you'll also want to explore online marketing platforms to reach your target audience. Amarki and Evocalize are great tools to automate some or all of your marketing process. With these platforms, you can manage all your real estate marketing platforms in one place and deliver marketing via automation.

Starting a virtual real estate brokerage from scratch is also a viable option. According to our article, "How to start a real estate brokerage online?", starting a virtual brokerage in California is straightforward and can be done quickly. You don't need a physical office or an expensive advertising campaign, making it a great option for those looking to get started.

If you're considering starting a virtual brokerage, be sure to check out our article on the essential checklist for setting up your virtual real estate brokerage. This will help you streamline your operations and ensure your business runs smoothly.

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Transitioning to a cloud-based brokerage requires careful planning to ensure a smooth transition for both your team and clients.

Take time well in advance to consult with all your team members and plan the logistics of how your brokerage will function once it goes remote.

You'll need to decide where your agents will work, if not in the office, and what they need to do.

Each of your agents will need to figure out what they need to do in their new workspace.

You'll also have to choose where to host client meetings, and your agents may need time to familiarize themselves with that space.

Carefully plan your finances for the transition period, as going remote will incur extra expenses initially.

Although going remote will cut your costs in the long run, this change will incur extra expenses as you set up facilities for each agent and your real estate business adjusts to its new target market.

Choose the right online platform to host your brokerage and marketing strategies.

Ensure your platform is user-friendly and easy to navigate to create a positive customer experience.

Overall, moving your brokerage online is a strategic move that requires preparation and planning.

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Cloud-based real estate brokerages have a significant advantage when it comes to costs and commission splits. They don't have to worry about investing in expensive overhead like offices, utilities, and conference room designs, which allows them to save money and pass those savings on to their agents.

Agents with cloud-based brokerages like REAL Broker often have lower costs and a revenue-sharing opportunity, encouraging them to grow their own business and help the company grow. This can lead to a more generous commission split.

One of the most obvious benefits of joining a cloud-based brokerage like REAL Broker is their lower fees to agents. They don't have to pay for office space, office staff, office manager, regional manager fees, or franchise fees. This is what allows them to pass the savings on to the agents and provide more value.

The commission split at REAL Broker is 85/15%, with a $12,000 a year cap. After that, agents keep 100% of their commission minus a few transaction fees. This is much more generous than most franchise brokerages can offer.

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Let's compare the costs and commission splits at REAL Broker and a typical franchise-based brokerage. For example, if you do 3 transactions a year at $300,000 each with a 3% commission, at REAL Broker you would keep 85% of the commission, which is $7,650, and pay REAL $1,350. In contrast, at a typical franchise-based brokerage, you would have to pay them $2,700 and keep $6,300.

Here's a comparison of the costs and commission splits at REAL Broker and a typical franchise-based brokerage:

As you can see, REAL Broker offers a more generous commission split and lower fees to agents. This can make a big difference in an agent's bottom line.

Training and support are crucial for success in any real estate brokerage, and cloud-based brokerages are no exception. Traditional brokerages often offer in-person training and mentorship, but online brokerages must be more intentional about providing support.

Online training is a viable option for many agents, but it's essential to consider the pros and cons. Online training can be self-guided and flexible, but it may not provide the same level of interaction and hands-on learning as in-person training.

Agents may also find it challenging to get in touch with managing brokers and other staff members in a cloud-based brokerage. Managing broker support is critical, especially for agents who need hyperlocal advice or support with difficult transactions.

Here are some key differences between traditional and cloud-based brokerages:

Ultimately, it's up to individual agents to decide what type of training and support they need to succeed in a cloud-based brokerage.

Managing Broker Support can be a challenge for agents in cloud-based real estate brokerages. Traditional brokerages often have a limited agent-to-managing broker ratio, making it easier for agents to get in touch with their managing broker.

Many online brokerages are national, with hundreds of agents under each managing broker. This can make it difficult for agents to get hyperlocal advice or support with difficult transactions.

In a traditional brokerage, agents can perform tasks like printing flyers or receiving commission checks on the spot. This convenience is often lacking in cloud-based brokerages, where office tasks like file management are solely up to the agents.

Training and mentorship are crucial for real estate agents, especially in virtual brokerages where there's no physical office to learn from. Traditional brokerages often offer classes and agents learn from each other, but virtual brokerages need to be more intentional about training and support.

Online training is a viable option, but it's not the same as in-person learning. Agents need to decide if online-only training is enough for them.

Here are some pros and cons of online training to consider:

Ultimately, the key to successful training and mentorship is finding a system that works for each individual agent.