Taking a queue from the coworking industry, the North Texas family-owned residential real estate brokerage VIVO Realty has launched what it said is the first real estate brokerage coworking membership model.
“Looking at other flourishing coworking spaces we wondered, why is no one doing this for Realtors?”
David Maez Jr.
The program will be piloted at VIVO’s locations in Uptown Dallas, Bishop Arts, and Plano.
The goal of the program is to provide a business structure that is a better fit for the changing ways in which real estate agents are doing business.
“Looking at other flourishing coworking spaces we wondered, why is no one doing this for Realtors? Ninety-eight percent of agents spend less than 15 hours a month in their office. It made sense to offer simple memberships and a coworking-style office to meet with clients and work,” VIVO co-founder and broker David Maez Jr. said in a statement.
VIVO OFFERS FLEXIBLE MEMBERSHIP PLANS
VIVO members can pick one of four monthly membership plans that best fits their real estate business. The four plans are: Lite, Select, Pro, and Team, with each plan tailored to agents at different stages in their careers.
Agents will pay a monthly membership fee and annual dues based on their plan selection in lieu of a traditional commission split, according to VIVO.
VIVO Realty’s location in Bishop Arts. [Photo courtesy of VIVO Realty]
Maez Jr. said that VIVO has 52 members as of the program’s launch Friday.
“We had an overwhelming response to our release,” he told Dallas Innovates via email.
The cost of each plan is based on the level of business each agent is at.
“We have annual dues of $999 up front or monthly at $99 per month for access to all offices 24/7, core tools, personal website, and E&O,” Maez Jr. said.
VIVO Realty’s Plano location. [Photo courtesy of VIVO Realty]
He said that new agents typically will opt for VIVO’s “pay-as-you-grow plan” (Lite), which is $499 each time they close.
“The real estate industry has evolved, and the timing is right for a model like ours.”
Bernice Maez
“We guarantee to match or beat any other brokerage offering, because we are unlike anything else out there,” Maez Jr. said. “We want to make it simple for the agent to run their business, which is why we offer flexible memberships.”
He said that agents can cancel at any time.
To further simplify the membership model, every agent is plugged into a mobile intranet with access to on-demand training, marketing, technology, and more.
“The real estate industry has evolved, and the timing is right for a model like ours,” Bernice Maez, VIVO co-founder and broker manager, said in a statement.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
Cityfund lets people invest in real estate markets like stock, starting with launch cities Dallas, Austin, and Miami.
-
After meeting its fundraising goal on investment platform Republic in about a week, Nada has raised an additional round of capital to continue boosting its platform, which allows you to sell your home online and pay nada.
-
The online marketplace—a "B2B version of the MLS"—lets single-family real estate investors buy and sell distressed, investable real estate. But the deals are exclusive, the company says. Entrepreneur and residential real estate expert Josh DeShong is launching in a sweet spot that's focused on saving time, money, and energy for investors.
-
Apricus Realty Capital is a new boutique commercial real estate investment firm focused on the major Texas markets: Dallas-Fort Worth, Austin, and Houston. Led by a trio of local industry veterans, the company is already actively seeking multiple acquisitions after recently completing the raise of an initial GP capital fund.
-
Dallas is set to be the third—and largest—metro market for the @properties franchise division. It will be helmed by the nephew of Dallas Cowboys owner Jerry Jones, Jerry Mooty, Jr., who has more than two decades of real estate experience through his work as a lawyer, entrepreneur, residential and commercial developer, investor, and broker.
