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Brokers Investing in Bigger Offices

After the real estate bust, brokers everywhere scrambled to slash their bricks-and-mortar costs. Now, though, some brokers are reversing field and investing in office space.

(Boonton, NJ, April 29, 2015) — In another sign that bricks-and-mortar offices are making a comeback, First Team Real Estate recently opened a shiny new office in Anaheim Hills, CA.

The new 9,200-square-foot office replaces a 4,000-square-foot space. Because the company boasts double-digit market share in Anaheim Hills, investing in an office made sense, says spokesman Jeff Gibson.

"It communicates commitment to our buyers and sellers," he adds. "There’s a great premium buyers and sellers place on being able to see your business, and how you operate. This is the biggest purchase most people make; they’re not trying to buy kids toys off of craigslist."

The goal is also to impress clients with the company’s investment in technology. "You’re sitting in a comfortable leather chair, and you’ve got a latte, and you’re looking at properties on a high-definition screen," Gibson says.

He acknowledged there isn’t a desk for every one of the 102 agents who work from the Anaheim Hills office, but he says the space is none the less impressive to clients and agents.

More on office space, succession planning, and commission rates, appears in the April issue of Real Estate Broker’s Insider.

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