According to the latest survey of 1,250 U.S. businesses by Digital.com, 69% of respondents have permanently closed some, or all, of their office space since March 2020. Of the 69%, a full 37% permanently closed all office space. What’s more, 39% anticipate closing some, or all, of their office space within the next 6 months.
And it’s not just small to medium-sized businesses that are downsizing. Nearly half of all businesses with 500 or more employees have closed all their office space, according to the survey. If you’re in commercial real estate, you know these are challenging times.
Many of us know that in the real estate market, the days of large brick and mortar brokerages are long gone. Agents and brokers want the convenience of working remotely, yet need to stay in communication with others. During the pandemic, new technologies were rapidly deployed. This further accelerated the trend of increased digital communications, whether it’s for virtual open houses, online office meetings, agent, and client collaboration, or using e-forms throughout the entire real estate transaction.
With this in mind, Bring it Home Communities and Veea has rolled out the Virtual Real Estate Office of the Future (vREO).
The vREO solution is powered by the Veea Smart Edge Node, and creates an uber-secure secure, closed network for agent and client communications, live-streaming and recording of open houses and events, training, and exclusive Realty Times programming. It provides growing brokers with an unparalleled opportunity to provide secure communications and conferencing to a broker’s agents and their clients for a one small monthly fee, as well as generating unique video content for promoting their brokerage, agents or market.
In addition to connecting brokerage and their clients, vREO is also an excellent recruiting and retention tool. It comes with the innovative “Before They List” app for exceptional lead generation in a market where gaining inventory is difficult. With this app, agents and brokers can communicate on professional feedback of a listing before it enters the market and provide home sellers with professional comments from inner office agents on their specific property, while staying in compliance with MLS rules.
Not only does it make a brokerage office help with virtual, secure, communications, it also saves a brokerage money. It recently introduced a program that offers a fifty percent discount to the first fifty brokers who sign up for vREO, the revolutionary office technology platform.
About Bring it Home Communities and vREO:
Bring it Home Communities is creating the portal of the future for real estate, combining local listings, and integrating brokers, agents, consumers, and advertisers in a safe and secure communication environment built on the Veea Edge Platform. The vREO platform adds capabilities such as virtual meetings for brokers, agents, and clients, virtual tours, virtual open houses with augmented reality capabilities, and online learning and certification for agents and brokers. The Bring it Home® Ad Network is powered by Ad Persistence and Veea AdEdge technology, which provides rich media advertising from companies and marketing partners to home buyers. For more information, visit https://realtytimesoffers.com/.
All data found within the Digital.com report derives from a survey commissioned by Digital.com and conducted online by survey platform Pollfish. In total, 1,250 U.S. business owners who had a staff working from an on-site office space prior to the COVID-19 pandemic were surveyed. The appropriate respondents were found via a screener question. The survey was conducted over a two-day period from August 12-13, 2021.