Running a virtual real estate team is easier and much more profitable than most people think. Arnold Elite broker Chris Arnold earns hundreds of thousands annually with his virtual team, and he still has the time and the freedom to do the things he’s passionate about.

If you want to hear what it’s like leading a virtual team and get tips from Arnold on managing online employees, listen to his podcast interview with Pat Hiban below.

To explore the benefits of running a real estate team remotely, read on.

3 reasons running a virtual real estate team makes more sense

1. It’s cheaper to run

One of the most obvious benefits of running a virtual real estate team is that it’s far cheaper than running an on-site team. There are several reasons why this is the case, including:

Hiring flexibility

When hiring for an on-site real estate job, it can be difficult to find quality employees who are willing to take on part-time positions. When hiring for a virtual real estate team, on the other hand, this definitely isn’t the case.

Many virtual employees actually prefer the flexibility of part-time hours, so you’ll have no trouble hiring qualified online staff members who can work as needed to get projects done. In other words, you’ll only be paying for the hours employees actually work.

No office

Office space is expensive. Cutting this expense from your books entirely and running your business from home can save you thousands of dollars every month.

Plus, while your gas savings won’t be nearly as significant as your savings on office rent, it’s nice not having to regularly fill up your tank to and from work.

2. There’s more flexibility

In addition to not having to commute to a brick-and-mortar office on a regular basis, you don’t really have to work regular hours. As the lead of a virtual real estate team, you have control of how often and how long you work.

Once you gain confidence in your virtual staff, most tasks can be delegated. Eventually, it’ll be possible to run a successful online team in a hands-off manner, which means you can go on vacation whenever and wherever you want.

3. Managing virtually is easier

Don’t you hate office drama? Everyone does, but it’s one of those things all business owners have to deal with — except for those who run their business remotely. With employees working together on tasks virtually, personal disputes are almost unheard of.

Oh, and if you think tracking and assigning tasks will be harder in a virtual setting, just try the two services that Arnold uses to make online project management a breeze: Podio and Todoist. With them, it’s actually easier to monitor task progress than it is in most office environments.

Interested in learning more about running a virtual team? Listen to the complete podcast with Chris Arnold for additional insight and suggestions on running your team remotely.

Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.