To all the agents in the house,
I'm a more confident and, I hope, more capable reporter after years of watching how other reporters do their job, whether it's seeing a more experienced colleague handle a testy phone call or grind through a complicated assignment.
But all that was in the pre-pandemic days when I worked in a physical newsroom. Today, HousingWire and other journalism organizations are largely remote. New reporters (particularly ones as impressionable as me!) cannot simply imitate older reporters.
Agents, I'm curious if this is relatable, as I asked brokers this week about the future of the office. One variable when deciding to renew, renegotiate, or let office leases expire is agent training and mentoring.
"All the training now is webinars that [agents] don't listen to," said Teri Pacitto, a real estate associate at Sotheby's Realty in Los Angeles County.
"We need training and support," Pacitto said. She notes that brokers should instead spend money to bring trainers into the office, rather than rely on online training.
In the past, a managing broker for the office might guide a promising new agent. But with many newer business models, those positions are increasingly remote and, in some cases, have been eliminated.
With that partly in mind, a couple of brokers I've spoken with are keeping their offices. Chicago-based @properties has actually expanded its physical footprint amid the pandemic, adding five offices.
"Agents still need a space to work in," that's not their home, said @properties co-CEO Mike Golden.
North Carolina regional brokerage Lake Norman Realty also held onto its office space, said company president Abigail Jennings.
"I haven't had any brokers state they are permanently working from home, and nobody's ready to give up their desk yet," Jennings said. "All staff is working in our offices, and all [of] our offices are open to the public."
I find the office and training topic interesting because it gets at the societal question about what aspects of people's work lives have permanently changed, and what may return.
But it's especially important for residential real estate. A common refrain in real estate, echoed in my conversations with agents, is that it's too easy to become an agent, and the barrier of entry is too low.
I wonder, especially with a leveling off of the housing market, if we are in a period where newbie agents fall through the cracks. But let me know your thoughts. I can be emailed anonymously at mblake@housingwire.com.
Sincerely,
Matthew Blake
Senior Real Estate Reporter
EmoticonEmoticon