I envisioned this a while back. Intero Real Estate has brought it to life in the South Bay Area.
Read about it in this post, “Rethink your real estate space” on FOREM.
Here’s a glimpse of what it looks like. Pictures courtesy of Ash Munshi, CEO of Terabitz.
Nice going!
- Davison
Twitter: 1000wattmarc
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looks just like my third place. guess the secret is out, now. i predict change.
That built in espresso machine will probably be very popular. Looks like a nice office a specific clientèle.
Very cool! Is it located in a good "walk-in" location? I hope they do well!
From what I understand… yes.
I totally agree with the need for and inevitability of a new real estate office. But this one doesn't hit the mark for me. Yes, I know that thousands of real estate transactions are being conducted in Starbucks stores all across the country, but does that mean we have to build our own Starbucks to recreate that experience in our offices? I see a small, central reception area (perhaps even a "Starbucks" experience in THAT area), two or three small conference rooms – possibly just partitioned off – and a very small work area for agents. Few or no traditional agent offices. Small, smart, simple. But a "bar", what look to me like dining tables, and an espresso machine do not provide the privacy or professional environment I think we still need to provide. Downsize, smart-size – yes. But making it look like you need to order a venti Coffee Frappuccino – not so much.
Ken,
There's more to this facility than the front reception area containing private rooms for conducting business.
But I think why not build something that is familiar, comfortable, and accessible to passerby's?
Is that so wrong?
some principles deserve what they get.
what's so wrong with people going out of their way to see you/find you?
who say's it has to have a main st addy?
i revise my prediction…i predict little change for those who accept change.
there. now, which SB's should i find, today?
We opened a real estate company in 2004 and built out an office like this. Our clients loved the Starbucks experience, as well as the wannabe Starbucks we served from the cappuccino machine. We had a couple big flat screen TVs on the wall, a bar area, high tables, and a few other things.
This concept would have worked better if we were in a location that had a bunch of foot traffic. Can't say that the new look and feel of that type of an office made us any extra money, but it was fun to design. We sold in 2006, but there are currently 150 or so agents working at that office. So, I'm sure it helped with recruiting.
I guess it depends on your location, agents, market, and clients to determine whether or not this is the right type of setup for your real estate company.
Exactly.
And this is only one idea. There's no gun to anyone's head regarding the vibe or theme of the place. If Starbucks isn't quite your palette conjure up something else.
I will agree that this might work for some companies. We are, in fact, in the process of building out a facility that will feel comfortable, inviting and yet professional. I don't particularly like the fast-food look of this office, but I do endorse the concept. We have included a very starbucks feeling lobby, and a very comfortable(but small) lounge for agents. Thanks for clarifying that there are more rooms for conducting business.
Bear in mind, you are all seeing simple snapshots of parts of this facility. Not the entire space which is absolutely stunning in its entirety.
Also keep in mind, this type of look and feel is right for its location – the South Bay.
I think Intero did an outstanding job here.
Foxtons did a very similar cafe style office in the UK back in 2007.
I like the reader that posted the coffee-shop idea above. This has been done a couple of times, but none better than the ING cafe. Check it out here http://tinyurl.com/5x5fgg
Come on in
Free Wifi
Affordable Eats
Brand new PC's for you to use
loungy feel
Great music
And By the way… if you're concerned about your home's value talk to (hip Realtor #1), want to talk about refinancing or getting your finances in line for a mortgage, talk to (hip Mortgage Broker #1), and if you're concerned about foreclosure or REO then talk to (attny #1).
I would love it… and it would work in heavy foot-traffic young areas.
Matt Dollinger
The You Factor
Nice ideas and execution. I'd love to see more of the pictures. I think the key for any real estate office is to make sure it a) makes financial sense and b) fits the company's culture.
It's good to see some brokers get it. We're working on a model for this to open (yes open, not close) 3 offices in St. Louis this year.
Still finalizing what agents have to have and what's optional.
Think about this…The local big broker had around 30 offices at the begining of 2008. That got reduced to less than 20 by the end of 2008. This past week, they told every person in their home office they were let go as of May 1st to centarlize all processing to Chicago….
Now what if their offices looked like this instead of having agents loiter and waste time? Think about the profitability they would have right now instead of staggering losses.
I've been thinking, writing and speaking about this very thing since 2004.
I'm glad brokers are starting to realize there are options beyond the big offices.
Good luck with your new facilities Eric.
People commenting on the specifics of the style and decor don't really get it. Obviously you have to make the right choice and create a space that you feel reflects YOUR demographic. Intero chose to make their new office look like this because it fits the identity and look that their clients want. If you live up in ski country maybe you build a lodge style office, that's not the important part. The point is that they are fostering change. Change both in the way they do business with their agents as well as the public.
Oh and one more thing…more pics please. The office looks amazing!
That built in espresso machine will probably be very popular. Looks like a nice office a specific clientèle.