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.
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.
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.”
“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.
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