Comments on: Effects of Reducing Office/Size Costs – Current vs. Future http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/ Insights Into The Real Estate Industry Fri, 30 Jul 2010 23:58:32 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Bob Albanese http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3672 Bob Albanese Thu, 27 Aug 2009 14:42:52 +0000 http://bhgrealestateblog.com/?p=3432#comment-3672 Carol, Good points here. Highly productive real estate agents absolutely want to work with progressive companies. Consumers expect cutting edge technologies from their agents, so agents clearly gain market share by working with companies that help them to keep abreast of new developments. Thank you for your comment. Regards, Bob Carol, Good points here. Highly productive real estate agents absolutely want to work with progressive companies. Consumers expect cutting edge technologies from their agents, so agents clearly gain market share by working with companies that help them to keep abreast of new developments.

Thank you for your comment.

Regards, Bob

]]> By: Carol Johnson http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3669 Carol Johnson Thu, 27 Aug 2009 13:57:37 +0000 http://bhgrealestateblog.com/?p=3432#comment-3669 Great discussion Bob! Another key point is that top producers thrive in environments that support their style of business. They are drawn to productive companies with vision, leadership and solutions to their needs. Offices cultures that embrace early adoption of changing technology are not weighted down with those who choose not to keep up. Weeding out the people who can't produce in today's market saves resources and reduces the need for costly office places to house them. If you want to see what real estate will look like tomorrow, watch the top producers today… if you can find where they are working. Great discussion Bob!

Another key point is that top producers thrive in environments that support their style of business. They are drawn to productive companies with vision, leadership and solutions to their needs.

Offices cultures that embrace early adoption of changing technology are not weighted down with those who choose not to keep up. Weeding out the people who can’t produce in today’s market saves resources and reduces the need for costly office places to house them.

If you want to see what real estate will look like tomorrow, watch the top producers today… if you can find where they are working.

]]> By: Bob Albanese http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3651 Bob Albanese Tue, 25 Aug 2009 13:19:12 +0000 http://bhgrealestateblog.com/?p=3432#comment-3651 Mike, you hit on an something that I believe is key here, and that is the area of communication. Leaders should not be shy about making decisions that forge new directions, but we should always be sure to bring our people into the thought process. Doing so provides many benefits, too many, in fact, to list here. However, when this type of communication is lacking, negative results can often be felt in the company culture. Thank you for your comment...Bob Mike, you hit on an something that I believe is key here, and that is the area of communication. Leaders should not be shy about making decisions that forge new directions, but we should always be sure to bring our people into the thought process. Doing so provides many benefits, too many, in fact, to list here. However, when this type of communication is lacking, negative results can often be felt in the company culture.

Thank you for your comment…Bob

]]> By: Mike Russo http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3650 Mike Russo Tue, 25 Aug 2009 03:30:14 +0000 http://bhgrealestateblog.com/?p=3432#comment-3650 Interesting comments. I have been speaking with an interesting firm called Retel Tech that specializes in providing detailed analysis using video cams of retail operations. Their reports are amazing and very inexpensive. With physical space being one of the largest costs in our business Retel's reporting will not only give us the reports that we need to make informed decisions, but also show our agents on how we are basing our decisions. Their website is http://reteltechnologies.com/ Interesting comments. I have been speaking with an interesting firm called Retel Tech that specializes in providing detailed analysis using video cams of retail operations. Their reports are amazing and very inexpensive.

With physical space being one of the largest costs in our business Retel’s reporting will not only give us the reports that we need to make informed decisions, but also show our agents on how we are basing our decisions.

Their website is http://reteltechnologies.com/

]]> By: Bob Albanese http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3649 Bob Albanese Mon, 24 Aug 2009 16:50:15 +0000 http://bhgrealestateblog.com/?p=3432#comment-3649 Jeffrey, Thank you for this excellent example. With your explanation, I am sure that our readers can see the distinct advantages of using such a system. Congratulations on embracing this new technology and best of luck in the coming months Regards Bob Jeffrey, Thank you for this excellent example. With your explanation, I am sure that our readers can see the distinct advantages of using such a system. Congratulations on embracing this new technology and best of luck in the coming months

Regards

Bob

]]> By: Jeffrey Douglass http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3648 Jeffrey Douglass Mon, 24 Aug 2009 15:34:46 +0000 http://bhgrealestateblog.com/?p=3432#comment-3648 Dear Bob, I can say that using Docusign with our electronic contract platform is one of my favorite time saving tools. For instance, a while back I was representing a young couple buying a lower priced home in San Diego. The price range that we were on required multiple offers since most were Bank owned or Short sales which took weeks to hear back on. While the husband was in San Diego, his wife was out of state. Both had conflicting schedules when they were available. Using electronic signatures it was very easy to e-mail contracts off for signatures. A few times we had signed contacts back in less than 15 minutes for urgent offers/counters. Other advantages include clear electronic copies vs. 3rd generation faxed copies. I find that my Clients love how quick and easy it is. Also as long as you do a good job marking where all the initials and signatures go the Client cannot return until they have completed the full signing. You can find out more about them at the link below: http://www.docusign.com/ Dear Bob,

I can say that using Docusign with our electronic contract platform is one of my favorite time saving tools.

For instance, a while back I was representing a young couple buying a lower priced home in San Diego. The price range that we were on required multiple offers since most were Bank owned or Short sales which took weeks to hear back on.

While the husband was in San Diego, his wife was out of state. Both had conflicting schedules when they were available.

Using electronic signatures it was very easy to e-mail contracts off for signatures. A few times we had signed contacts back in less than 15 minutes for urgent offers/counters.

Other advantages include clear electronic copies vs. 3rd generation faxed copies. I find that my Clients love how quick and easy it is. Also as long as you do a good job marking where all the initials and signatures go the Client cannot return until they have completed the full signing.

You can find out more about them at the link below:

http://www.docusign.com/

]]> By: Bob Albanese http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3647 Bob Albanese Mon, 24 Aug 2009 13:56:19 +0000 http://bhgrealestateblog.com/?p=3432#comment-3647 Jeffrey, thank you for your comment. I have heard of Docusign and understand that it provides electronic means for signing and sending legal documents. I am certain that some of our readers are not familiar with it however. Could you please explain how it has helped you and provide some examples? Thank you...keep selling Bob Jeffrey, thank you for your comment. I have heard of Docusign and understand that it provides electronic means for signing and sending legal documents. I am certain that some of our readers are not familiar with it however. Could you please explain how it has helped you and provide some examples?

Thank you…keep selling

Bob

]]> By: Bob Albanese http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3646 Bob Albanese Mon, 24 Aug 2009 13:51:59 +0000 http://bhgrealestateblog.com/?p=3432#comment-3646 Keith, I really like your idea about time and motion studies. This is often overlooked and can provide a way to assess office space need in an interesting way. Thank you for your comment Bob Keith, I really like your idea about time and motion studies. This is often overlooked and can provide a way to assess office space need in an interesting way. Thank you for your comment

Bob

]]> By: Jeffrey Douglass http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3627 Jeffrey Douglass Sat, 22 Aug 2009 00:10:12 +0000 http://bhgrealestateblog.com/?p=3432#comment-3627 Dear Robert, While I have a small office in downtown San Diego, 99% of my business with Clients is in my car, at showings, or meeting them at a local coffee house. Since I service a wide area this works much better than a central office space. If it is a listing opportunity I meet them at the subject property. Since I have started using Docusign it is rare that I meet face to face with Clients for actual signatures. Contracts and addendums can be e-mail to the Clients - many that are in two different places - and signed when schedules allow. An iPhone eliminates the need for a laptop for the most part, but the nearest Starbucks will provide me with high speed internet for access to MLS and contacts. I long ago gave up a land line. With unlimited voice my cell phone is the only phone I need. I do use a fax service that send them directly to my e-mail. I find for the most part that meeting potential clients at a neutral location is much more preferred than dragging them into a real estate office - so why pay for the expense of maintaining them? Dear Robert,

While I have a small office in downtown San Diego, 99% of my business with Clients is in my car, at showings, or meeting them at a local coffee house. Since I service a wide area this works much better than a central office space. If it is a listing opportunity I meet them at the subject property.

Since I have started using Docusign it is rare that I meet face to face with Clients for actual signatures. Contracts and addendums can be e-mail to the Clients – many that are in two different places – and signed when schedules allow.

An iPhone eliminates the need for a laptop for the most part, but the nearest Starbucks will provide me with high speed internet for access to MLS and contacts.

I long ago gave up a land line. With unlimited voice my cell phone is the only phone I need. I do use a fax service that send them directly to my e-mail.

I find for the most part that meeting potential clients at a neutral location is much more preferred than dragging them into a real estate office – so why pay for the expense of maintaining them?

]]> By: Keith Nelson http://bhgrealestateblog.com/2009/08/21/effects-of-reducing-office-size-costs-current-vs-future/comment-page-1/#comment-3626 Keith Nelson Fri, 21 Aug 2009 19:10:05 +0000 http://bhgrealestateblog.com/?p=3432#comment-3626 It's good that this topic is now being openly discussed. The challange is that as owners we really need to think outside the box. Have you done an assessment of what portions of your office or offices are truly being utilized. Look at conducting time and motion studies to see just where you can create some efficiencies. Are you looking at your surrounding environment. As an example, are you looking at where your agents are actually meeting with their clients. Conversely, have you asked the clients where they would like to meet? Could you function in a smaller space if you were near a couple of resturants or coffee shops? Wouldn't it be just possible that those facalities are already acting as an office annex for your associates? The per square foot cost for the actual time the space is utilized is pretty attractive, when it's measured by the cost of a cup of coffee. Besides, who paid for the coffee? When you compare the cost of the same time to square foot measurement of your current conference rooms, or the agents office, and their actual time usage in relation to the cost of the space for that same amount of meeting time, how do these values compare. Which is more effecient in your market place? How did each type of environment contribute to the clients and agents overall experience in the transaction? Now that's an interesting cost analysis. Just watch those special drink orders though. Have you ever thought to look at on office as a "Timeshare" or "Fractional Ownership". Have you considered how to adapt some of those concepts to your business. Stop saying - "It will never work" and start asking yourself some questions. It's great that this discussion is taking place. It's time that questions that were once considered off limits are moving to the foreground. Keep up the conversation. It’s good that this topic is now being openly discussed. The challange is that as owners we really need to think outside the box. Have you done an assessment of what portions of your office or offices are truly being utilized. Look at conducting time and motion studies to see just where you can create some efficiencies. Are you looking at your surrounding environment. As an example, are you looking at where your agents are actually meeting with their clients. Conversely, have you asked the clients where they would like to meet? Could you function in a smaller space if you were near a couple of resturants or coffee shops? Wouldn’t it be just possible that those facalities are already acting as an office annex for your associates? The per square foot cost for the actual time the space is utilized is pretty attractive, when it’s measured by the cost of a cup of coffee. Besides, who paid for the coffee? When you compare the cost of the same time to square foot measurement of your current conference rooms, or the agents office, and their actual time usage in relation to the cost of the space for that same amount of meeting time, how do these values compare. Which is more effecient in your market place? How did each type of environment contribute to the clients and agents overall experience in the transaction? Now that’s an interesting cost analysis. Just watch those special drink orders though.

Have you ever thought to look at on office as a “Timeshare” or “Fractional Ownership”. Have you considered how to adapt some of those concepts to your business. Stop saying – “It will never work” and start asking yourself some questions.

It’s great that this discussion is taking place. It’s time that questions that were once considered off limits are moving to the foreground. Keep up the conversation.

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