What does Real Estate Pro Bono mean? Pro Bono comes from the Latin phrase ‘pro bono publico,” which means “for the public good.” Typically, pro bono work consists of providing free services for those in need or at a lower cost. Pro bono work is typically offered by those practicing law, but other professionals perform pro bono work as well, including those in real estate.
Pro Bono Versus Consulting
Pro bono work is similar to volunteering but there’s one key difference: volunteers can perform certain tasks even if they aren’t qualified to do so. With pro bono, a specific set of skills, licenses, and knowledge is often needed to execute the services provided. This means the level of professionalism is much higher than received from volunteers.
Top Reasons For Real Estate Pro Bono Work
Here are some of the top reasons to offer pro bono services.
Generates Goodwill
Many real estate professionals offer pro bono work for several reasons:
- Help people in financial distress
- Volunteer at nonprofits or charities
- Help those needing to sell for health reasons
- Assist individuals dealing with family tragedy
In these and other types of extreme emergencies, realtors can feel a sense of satisfaction knowing they helped a person in a time of crisis. It could also cause you to take a step back and appreciate what you currently have and have more empathy for those less fortunate.
Note: Helping others in need is the number one reason to do pro bono work. It is possible grateful sellers will tell their family and friends of your kind gesture, which could generate more business for you. While this could be a great way to expand your business, helping those in need is the top priority.
Learn New Skills
Doing pro bono work can provide the opportunity to learn new skills or discover new business opportunities. For example, this could include working in different areas of town you normally wouldn’t, or service clientele that isn’t your typical target market or demographic.
Build Your Network
Learning new skills can allow a person to meet new people, which helps to build their network. These new contacts could come in handy for future real estate transactions.
Higher Learning Curve
Pro bono work gives you an opportunity to discover what works and what doesn’t, minus the stress of working for a sale or commission. These experiences can allow you to become more creative and try things you may not with your paying clients. Another potential benefit of pro bono work is learning how to balance your time between pro bono clients and regular clients. This improved productivity and efficiency can help you become a better real estate agent.
Pro Bono Risks
Doing pro bono work has many benefits, but there are also pitfalls to be aware of also:
Find the perfect balance. Consider working with just one pro bono client at a time. Having too many could hinder your ability to service those who are paying you for your services. You don’t want to lose them because they feel you aren’t giving them the time and attention they deserve.
Don’t overdo it. Having too many pro bono clients could give you the reputation as a low-cost option or unable to handle high-end clients. Being selective with your pro bono projects is key.
Is Pro Bono Right For You?
Pro bono work is a great way to give back and help those in need. While it is similar to volunteer work, individuals who work pro bono are qualified experts in their field and can provide services the average volunteer is unable to offer. Pro bono work can be a great way to hone your skills and meet people you may not interact with normally. Each of these benefits could help improve your business and make you a better real estate agent.
Give pro bono work a try. Your conscience (and business) might thank you.
About Range Homes
Are you looking to buy or sell a home? Range Homes has pro bono services. We have friendly, professional agents ready to help you during your time of need. Contact us HERE for all your real estate needs.
