Benefits of Working Remotely In Real Estate

Real estate is a dynamic, fast-paced industry in which time is a precious resource. In an environment such as this, ideas to increase productivity and save time are worth more than gold. This is one of the reasons that more real estate professionals are seeking flexible work environments that can meet their businesses needs and work better for their lifestyles.

Saving time is one of the many benefits of working remotely in real estate. Saving money, avoiding traffic, working from the comfort of one’s home, and helping the environment are a few other compelling advantages of these flexible work environments.

Remote Employees Are More Productivity

Real estate is a fast-moving industry in which it can often feel like there are not enough hours in the day. Remote employees are at an advantage here – many studies have shown that telecommuting can greatly increase productivity.

 

Companies such as Best Buy, British Telecom, and Dow Chemical have shown that teleworkers are 35-40% more productive. American Express workers also produced 43% more than their office-based counterparts. Reduced distractions, increased flexibility around work hours, and reduced time spent in commute are just some of the ways that remote work can help employees be more productive.

Businesses sometimes feel that having employees in the office is a way to ensure productivity, but in fact, this is not true. Research suggests that in an 8-hour day, the average worker is only productive for 2 hours and 53 minutes. 

Remote Employees Have More Time For Themselves

The increase in productivity seen from remote work situations lends itself to another important factor in employee happiness – more free time. Remote employees typically have more time for themselves which they can invest in hobbies and interests. This is because they are able to be more productive during work hours while also saving time by eliminating their commute.

The elimination of the commute is particularly impactful in the real estate industry where jobs are typically located in highly populated, high traffic areas which can make commutes lengthy, difficult, and stressful. The average daily commute in the US is about 26 minutes according to the U.S. Census Bureau. If you commute to a full-time job 5-days-a-week, that adds up to over 200 hours a year. That’s 9 days! Remote employees can save a full 9 days worth of time simply by avoiding the commute to and from work.

Everything considered, full-time remote work can result in an extra 2-3 workweeks of free time a year. As a result, a majority of teleworkers report they spend more time with family and friends and partaking in leisure activities.

Remote Employees Save Money

When you work from home, time isn’t the only thing that you are saving. You are also saving money. Remote employees can save on gas, clothes, food, parking, and in some cases, daycare costs as remote work situations often allow for additional flexibility for family home environments. According to Global Workplace Analytics, average savings are $2,000 to $6,500 per year per person for half-time telework.

Remote work can also provide an opportunity for big savings by adding flexibility to your location of residence.

Within the real estate industry, the best jobs are typically in highly populated areas where real estate costs can be higher than average. This sometimes means that living within more expensive areas or commuting long distances to work is a necessity. Telecommuting makes it easier to avoid high housing costs by allowing you to live in more affordable areas. Analysis shows that employees can save over $7,000 per year for every $100,000 reduction in home value.

Remote Work Has Health Benefits

Remote work situations allow employees to have more personal independence with increased control over their work environments, and often their schedules. This in itself can lead to reduced stress and increased employee happiness. Other health benefits can be found in reduced exposure to airborne illnesses and occupational hazards. In addition, remote employees report being able to make more time for exercise.

 

Remote Work is Better For the Environment

In addition to the multitude of benefits that remote work situations can provide for employees and employers, it also benefits the environment. Telework offers an easy, effective way for companies and individuals to reduce their carbon footprint.

According to Global Workplace Analytics, half-time telecommuting by those with compatible jobs and a desire to work from home could reduce carbon emissions by over 51 million metric tons a year. To put this in perspective, this is the equivalent of taking all of New York’s commuters off the road.

 

Effective Remote Work Environments in Real Estate

Modern technology has opened up a world of possibilities for businesses that are ready to adapt. With the technology that we have available today, working remotely does not have to mean a lack of collaboration or connection. Video call software can remove the distance with the click of a few buttons so that relationships can still develop and flourish from miles away.

In addition to working from home, there are a variety of flexible work alternatives to the standard office. Shared workspaces, whether utilized by a company or an individual, can create an environment outside of the home for focus, for social interaction, and as a place to meet when in-person proves to be the best format for the situation. These types of environments provide flexibility to benefit both the company and the employee. This is particularly true in real estate, where the standard office environment is less necessary.

 

 

We would love to hear from you. How has a remote work environment helped you or your business? What challenges do you face and what strategies do you use to make working remotely work for you?