Do You Really Need An Office?

Matthew Parrella is a broker for real estate cloud brokerage, eXp Realty. About two years ago they made the bold decision to let go of their conveniently-located Midtown office space, choosing to take it to the streets and reinvest in company growth. Were they ahead of their time with such a move? Matthew and I have had many conversations about this and other residential & commercial real estate topics over the years on the quiet streets of our picturesque Brooklyn neighborhood, Windsor Terrace. It's a pleasure to welcome him to the show! Segment 1 “If you got your head in the game things don’t always go the way you thought they would but often show up the way you expected.” Jeremiah introduces the guest of the show, Matthew Parrella. Matthew explains the unique situation of eXp Realty and what differs them from other real estate firms. He explains how the company prioritizes its agents and how they operate in NYC without any offices. The two talk go back and forth about the nature of NY realty in certain neighborhoods Segment 2 Matthew explains how their cloud office works and different deals and partnerships they have with other companies and local governments. He also talks about the local and international spread of the company and how they give their agents and clients flexibility, establishing offices for themselves all over New York. The two also talk about how the pandemic affected the real estate industry. Segment 3 The two talk about the state of the realtor industry and project how these will turn out on the other side of quarantine, how the situation has exposed a lot of inefficiently and faults in the current system. Matthew talks about what he’s been hearing about the industry in New York state and how it’s been progressing with the reopening as well as divulging canceled parties and conventions. Segment 4 Matthew projects on how his business model will fare in the future. Jeremiah talks about how absurd NY realty has gotten, even for brick and mortar businesses. Matthew drops his contact information and company website for listeners.