11 Tips For Running Your Real Estate Business From Home
Some real estate agents are self-employed. Those that are not are generally free to set their own schedule and pursue their own leads. Many agents take advantage of this flexibility to work from home. Working from home has many benefits. But there is a long-running debate in the real estate community about whether the benefits outweigh the negatives. Putting this debate aside for the moment, there are a few things you can do to maximize your productivity and work experience at home. Here are 11 tips for running your real estate business from home.
Make Your Own Space
Just because you’re out of the office does not mean you should work wherever. You should set up a professional space in your home. The advantages are psychological and financial. First, A home office will help foster a work mindset. This will help you replicate work done in a corporate office. You can also use a home office as a tax deduction. This will help you keep more of your revenues as profit.
Limit Personal Interruptions
The great disadvantage of running real estate business from home is distractions whether it be TV, social media or phone calls. You should take steps to minimize the interruptions and stay on task. A TV in your office should be a no unless absolutely essential for your wok. Many agents rely on social media for advertising, so it’s hard to cut it out completely. Instead, it’s a good idea to stay logged into your professional accounts. This will help you use social media for productive purposes rather than mindless browsing.
Compartmentalized Your Work
There is a concept called work creep that affects many home office workers. It’s the idea that when under the same roof, your work life and personal life can get mixed together. This can negatively affect your productivity and your family. A better approach to maintaining a healthy work-life balance is to compartmentalize your work, your real estate business, so when you stop working for the day you truly stop.
Join a Shared Workspace
Some agents worry about appearing professional if they work out of the house. They hesitate to take client meetings because they don’t have a corporate office. One way to address this concern is to join a shared workspace. This will allow you to take client meetings in a real office and maintain a professional image.
Take Advantage of No Commute
Commuting is one of the largest unproductive periods in an agent’s day. Working from home gives you a leg up on your office-based competition because you have more time at your disposal. You can use this time to start your work earlier and work longer hours. Or you can use it to sleep later and start your day with more energy.
Invest in Your Productivity
When you work from home you are responsible for all of your equipment and supplies. Don’t let this hinder you from making upgrades when necessary. Whether it is a new computer or a good coffee machine, investments in your productivity will come back to you and to your real estate business in the form of more sales and greater revenues.
Keep a Separate Phone
It may seem redundant, but having a separate phone for your home office will help you maintain control over your work. You can shut off your work phone during vacations and non-work hours. A separate phone will also prevent a family member from mistakenly taking a client call and it will prevent you from accidentally contacting a client when you want to reach a family member or friend.
Stick to a Routine
Working in an office involves a tight routine—wake up, have breakfast, get ready, go to work. You should take the same approach if you work from home. This provides consistency in your work and helps you maintain high productivity.
Set Rules for Your Office
Most coworkers know to knock if they see your door closed. They know to come back at a later time if they see you on the phone. This is common office courtesy. Children or family may not be as familiar with such etiquette. So you should set clear rules for your home office, especially if you are working while others are home with you.
When you work in an office and want to take a break, there is a very limited set of things you can do. You can take a walk, get a coffee or talk to a colleague. That’s pretty much it. At home, you have much greater options. This is one of the best things about running a real estate business from home. You can cook, do laundry, exercise, walk your dog, garden, etc. Definitely take breaks and definitely use them to do what you want.
Be Proactive With Face Time
When you are running your real estate business from home you are a bit isolated. On the occasions that you meet with other colleagues, you need to be a little more proactive. You should use this time to gather feedback about your work and be available to them.
So now you know how to run your real estate business from home. Questions or feedback? Leave them in the comments. Or for more Realtyna content, check out 7 Tips to Improve Your IDX Real Estate Website Design in Seconds.