Which type of brokerage may not have physical locations but operates primarily online?

A virtual office website (VOW) is correctly identified as a type of brokerage that operates primarily online and typically does not have physical locations. This modern model leverages technology to facilitate real estate transactions, allowing agents to work remotely while providing clients with access to listings and services through an online platform. Virtual brokerages focus on digital tools and resources, creating a fully online experience for both agents and customers.

In contrast, a full-service brokerage usually offers comprehensive real estate services and tends to have a physical office where clients can meet agents and access in-person support. Part-time brokerages may have agents who operate on a limited schedule and might still maintain a physical location, while traditional brokerages typically involve brick-and-mortar operations and established office settings for conducting business. Therefore, the emphasis on a completely online operation distinguishes the virtual office website from these other types of brokerages.