CHICAGO – When the rent on her office increased, Atlanta-based Karen Hatcher, CEO and broker of Sovereign Realty & Management LLC, decided to buy her own space. Prioritizing convenience, visibility and value, she aimed to find a spot in a central, up-and-coming area with significant car traffic. Since the location would be prime, she knew she’d need to compromise on square footage—she just needed to accommodate her full team for meetings. So, when Hatcher learned a business owner with her ideal space was retiring, she jumped on the opportunity and hasn’t looked back since.
Thanks to time and experience, Hatcher knew exactly what she needed. For brokers setting up their offices for the first time, thinking about all the options might seem overwhelming.
Choose a spot
Location matters, even if you’re not investing in a traditional brick and mortar location.
Decide whether you need an office
Not all brokerages require a dedicated brick-and-mortar location, though it’s exactly what some need. In today’s remote-friendly work environment, myriad options avail themselves. As a broker, your first task is to assess the kind of office space your team needs.
“When an agent or two comes to me and says we need an office, I try to figure out if two people — or 25 — want that, so I ask around a bit,” says Jeff Samuels, SVP-Regional Manager of the Northern California region of The Agency. “I ask if we’re missing anything right now and if they’d prefer an office or a few free lunches each week. It’s one or the other,” he continues.
For a compromise that can be ideal if you’re starting out, consider a coworking space, he suggests. “You can collaborate with people not in your industry and meet potential clients.”
Focus on your mission
Know your company’s niche, Samuels advises. The Agency is a global luxury boutique brokerage, he explains. So, when setting up an office, he makes sure each decision aligns with those three qualities: luxury, boutique and global. That’s why he knew opening an office in tony and charming downtown Los Altos, Calif., made business sense.
Weigh visibility versus space
You’ll need to choose between a smaller office — possibly in a more centralized location — and a larger office further afield, figuring out which makes most sense for your business. Both types have pros and cons, says Samuels, whose region includes a mix of boutiques and larger spaces.
He explains that a busy downtown street location can serve as a billboard, promoting your brand and helping your team connect with the local community. On the other hand, a larger office could serve as a regional hub and offer ample parking and space for private offices and meeting rooms. The Agency office in Alamo, Calif., embodies this style, and is ideal for hosting larger get-togethers, like regional meetings.
Remember your mission, as well, and note that a smaller space might work better for your needs. Smaller spaces feel lively and breed collaboration, he adds. One case in point: the 1800-square-foot downtown office he just opened in Berkeley, Calif., has a cafe-style rather than an office-like feel. Vibrant and inspiring, team members pop in and out, rather than working at assigned desks.
Either way, make sure the location is as central to your agents as possible, urges Alex Platt, broker associate and principal agent at Compass, who just opened the brand’s Delray Beach, Fla., office. “If they’re 20 or 30 minutes away, they won’t come in if they have an appointment in the other direction,” he says.
Try to accommodate your entire team
When figuring out how much space you need, plan on enough seats for everyone, recommends Platt. “That’s seats, not desks,” he clarifies. “It’s very rare everyone will come in and work at the same time. You don’t need a desk for every agent, but you do need a large space so that when everyone meets, there’s enough space.” That’s why Hatcher insisted on a conference room with enough seating for her entire team.
But be economical
Don’t overspend on space, Samuels recommends, noting an overly large office could feel like a ghost town or be financially onerous. To defray your costs, take a cue from Hatcher, who rents out two desks in her office: one to a construction team and the other to a maintenance company.
Build it out
To optimize the use of your space, make sure you think intentionally about how to use it.
Include these zones
If you’re going for a full-on brick-and-mortar space, plan accordingly to make sure you maximize the use of the square footage. Plan on a reception area, conference room, open workspace, walk-in closet (for swag, signage and brochures), kitchen, bathroom, and printer area plus smaller more private workspaces and, ideally, outdoor space and parking. While Hatcher’s office features a screened-in front porch, The Agency’s Berkeley office includes a backyard. These outdoor areas increase the workspace, enabling agents to take calls without disturbing their colleagues.
Balance closed and open, fixed and flexible space
Aim for open space for collaboration plus closed rooms for concentration and private conversations, suggests Samuels. When it comes to private offices or permanent desks, consider them for office managers or other staffers who work in the office full-time, suggest Hatcher and Platt. Otherwise, since agents rarely work in the office all the time and simultaneously, include ample unassigned “jump” desks and open tables. Distribute these workspaces throughout closed and open areas. That way, when an agent wants to socialize and brainstorm with other agents, they can choose a desk in the bullpen. However, if they’re negotiating over the phone or trying to focus on writing a listing description, they can head to a smaller, quiet room with a door that closes.
Offer amenities
“We want to make the office inviting, so people feel at home and want to come in,” says Platt. So, make sure your office is pleasant and comfortable and includes desirable items. Think: a commercial black and white printer stocked with plenty of ink and paper; reliable Wi-Fi, and ample snacks and drinks.
© 2024 National Association of Realtors® (NAR)
