We all heard that Real Estate gives your freedom to choose your own schedule, have flexibility and ability to pick your on clients while making decent money. Until we got into the business and experienced harsh reality.
A typical solo Realtor is usually selling 15 homes a year. So, to sell that many homes, the Realtor needs to generate business, attend appointments, negotiate contracts, order signs, print flyers, create marketing campaigns, update social media, write and respond to numerous emails, make prospecting calls, respond to offers, pick up the keys, meet with clients, respond to texts, remain sane and not to burn out. Did we talk about soccer practice and PTA yet? Sounds familiar?
Typical answer to the problem is to hire an assistant.
However, how much time do you have to spend training your assistant? How much money is it going to cost you? How do you know that your assistant is going to be an asset and not a liability? Can he or she handle your clients’ inquiries? A lot of agents are scared to pull the trigger on hiring help because there are a lot of unknowns and they are not sure if they can afford one.
With globalization of the world industries and e-commerce, more and more of high performing agents hire virtual assistants (VAs as they are referred to in the industry) in order to delegate non-revenue producing tasks to them. Once you do that, you can free up so much of your time and can concentrate on your job as a Realtor, which is to meet clients, negotiate contracts and close sales. You will have more time to do that and obviously your production will improve.
What are the benefits of hiring a virtual assistant compared to an in-house assistant?
The most important is cost. Typically, an in-house assistant will cost you $25/hour with benefits and payroll taxes. Whereas a VA will cost you less than $10 per hour, which would be less than most State’s minimum wage. If you spend less money on your VA to do the same job as you would have to do yourself, the cost per hour of your work increases and your time becomes more valuable. Your time, as a Realtor will be worth $1000 per hour instead of $10 per hour, because the job that costs $10 per hour is delegated out to another person.
What are some disadvantages of hiring a VA? Besides the fact that you won’t have the person sitting in your office, there aren’t any. As virtual assistants are all remote and work from different locations, with the help of the internet, they can literally be at your fingertips.
Savvy agents value their time as this is the most valuable asset that we have and they do not want to waste it on doing small tasks that they can easily delegate to their VAs.
As usual, I love your comments, feedback and suggestions.