Running Your Business Without Leaving Home

COVID-19 has changed how Realtors® are doing business, but there are benefits to operating from home, says real estate expert Bernice Ross, a nationally known real estate speaker and owner of RealEstateCoach.com.

“The real estate industry has already embraced conducting business virtually, whether it’s writing digital offers, using transaction tracking platforms and negotiating on Skype or Zoom,” Ross said. “COVID-19 will probably hasten this process. Consequently, there’s no better time than now to completely embrace going virtual.”

Ross founded her company in 1997 as a virtual company. She said those working virtually from home can see the following benefits:

• A huge reduction in operating overhead.
• A 60 percent reduction in vehicle expenses.
• By eliminating the commute to and from the office, a major reduction in stress plus more time for both my business and personal time.
• She only hires independent contractors who have their own taxpayer ID number, LLC, corporation, or are paid through Upwork.

“By working virtually, we have access to the best talent nationally and internationally, rather than being limited to who is available locally,” she added.

When Ross first started working from home, she found a challenge was persuading her husband and business partner that they needed a virtual assistant.

“I told my husband, who is also my business partner, if he didn’t want to work with a virtual assistant, I was hiring one for my part of the business,” Ross said. “After four weeks of trying to post classes on the internet himself, he came around pretty quickly.”

“Fortunately, the woman we hired back 1998 now functions as my virtual COO and runs our entire back office. She coordinates the other independent contractors that we work with, handles our publications, bookkeeping and so many other tasks for us,” Ross added.

Her one piece of advice for someone moving into this model is to delegate what you don’t do well. “Don’t try to do everything yourself. Also, don’t skimp on this part of your business. When you find the right virtual assistant, they can be with you for years,” she added.

When working from home, it’s key to set up a home office. An extra bedroom, a basement, or even a dining room can make a great office. If you don’t have a separate room you can convert, consider using a portable room divider or a curtain to divide your basement, dining room, or even master bedroom to create a separate work area.

“Under no circumstances, however, should you ever your work in bed,” Ross said. “When you fail to separate your work area from where you sleep you create a double whammy—sleepless nights and drowsiness during the day.”

Ross suggests setting some routines to keep you focused on work:

• Get out of your jammies or gym clothes so your body doesn’t feel like it’s a day off. Your brain associates work clothes with working.
• Before you sit down to work each day, grab your earbuds and listen to three to five minutes of music that makes you want to dance or snap your fingers. This creates a peak performance mindset by synchronizing the left and right hemispheres of your brain.
• Identify the top three things you need to accomplish today to hit your business goals. Accomplish those first.
• Identify your personal peak performance times (are you an early bird or a night owl?) Tackle your most difficult tasks during those times.
• Keep your personal work area clean and clear of distractions, even if you have to put everything in a box in back of you. This makes it easier to stay focused.
• Schedule regular breaks where you walk away from your desk and move around. Better yet, tap into that music that syncs your brain.
• Whenever possible, schedule breakfast, lunch, and dinner at the same time each day. Avoid working through your meals and never eat at your desk.
• Commit to having at least one real estate free day per week.