Hi, my name is Violeta.
For those of you who don't know me, I'm a real estate broker and investor over here in Metro Atlanta and also I'm a productivity coach.
Today, I wanted to talk about how hiring a virtual assistant can help you grow your real estate business.
1. What they can help you with and when do you know that it's time to hire one?
2. What a virtual assistant can help you with?
They can help you with all these little admin tasks that you need to do every single day such as entering listings in MLS and answering the phone, creating flyers, creating pre-listing presentation, even doing your preliminary CMA.
Also, you can use them to schedule appointments for your closings, for your home inspections, follow up with the current clients, etc.
They can, if they are licensed based on your state law help you with lead generation calls.
They can help with your online marketing.
They can help you with your website, your blog. If you have a Facebook advertisement, they can do anything for you, so you can focus on your main job, lead generation for new business, for new clients.
That's what you need to do every single day and you need to block time in your schedule to do that. Otherwise, it's going to be this roller coaster effect that I have personally experienced many times. You get very busy and you don't have time to lead generate. Then you have four closings this month and then boom, you have nobody to work with.
Because you've spent all of your time doing all the tasks that you don't have any support to help you with.
You don't have time to lead generate because you service the client you're working with, and then when everything is done, you need to start all over again.
You need to start lead-generating, find clients to work with, and this will take about at least three to get back to the closing table.
Imagine having someone who takes this from you, and once you put a property under contract they jump in and take over till closing.
Your job will be to just keep lead generating for more business, following couple of new leads and going to appointments.
When do you know that it's time to hire a virtual assistant?
There are about three indicators.
First you get so busy, you work 70 hours per week and you don't even take a day off, and are about to burn out.
Second, when you start finding out that leads that you fell or follow up with, and that they already bought with another agent. Ouch!
Because you didn't have the time to do this follow up call and to consistently stand up their mind.
Third, you have at least three closings in escrow.
if you are scared to go all in and hire a virtual assistant like on part time basis or 10 hours per week, you can at least hire a transaction coordinator.
What they do is, once you put a property under contract, you send them the contract and they take over. Usually they're experienced. You don't need to train them.
If there's something specific to your business, you just let them know what is your process and they'll follow your instructions.
A transaction coordinator charges a flat fee per transaction.
Most likely, they'll charge a 50% upfront and will give you couple of days during the due diligence in case the contract doesn't go through inspection. They charge between $300- $350 per one side of the transaction, so if your commission is $5,000, why not pay someone who takes over from contract to closings and take care of everything and you have the time to concentrate on generating more business?
Imagine you want to make hundred thousand per year as a dos state agent. That means if you work 48 weeks, let's say, let's say you take photo week's vacation during the year, you work 48 weeks, 40 hours a week. This is about 1900 hours, that means you're making about $52 per hour.
Can you find someone who can do all this admin tasks for less? Absolutely!!!
An experienced virtual assistant charges between $18 and $25 per hour, so let's say you find someone for $20 per hour, and let's say you have them just work a part time. That means they're going to free you up and you'll have 950 hours to focus on generating more business and if you do the math, actually your hourly rate will increase about 30-40 % if you do the math.
I know that it's very hard to make this decision and delegate, believe me, I know that first hand that it's hard to make this big decision and delegate, because for me, when I did hit my first six figures, my third year in in real estate working with mostly buyers in $130-150K price range, which means about 30 transactions per year, which is a lot working with buyers( FYI 85% of agents close about 4 transactions per year).
I was overwhelmed but I still was resisting to hire someone to help me because I thought that I can do the job the best.
And then I hit the wall and my business started to go down because you have only 24 hours a day, you have family, you have children, and you cannot do it ALL.
Just wanted to share my experience with you. Hopefully that helps.
If you don't have a listing process, I am sharing my swipe file, what I'm using in my business. CLICK HERE to DOWNLOAD IT.
The "Swipe File" includes checklists, pre-listing presentation, seller guide, editable spreadsheets.
Also, there are some ideas about flexible commission rates based on the services you provide. What else? The seller's information sheet I'm using when someone calls me, instead of writing everything on notes or on napkins in your car.
I print out about 20 copies and I have a stack in my car, I have a stack in my office and on my desk, um, I even have a stack in my kitchen, so when someone calls, I just grab it and follow the process. I follow the questions I need to remind myself to ask them and I go over, and then punch and put it in my leads folder.
How I follow up with leads is something else we can talk about sometime. So, that's it.
I think I've covered everything I wanted to talk today. If you, you're interested to get this download, I call it the listing process agent survival kit, you CLICK HERE and you can find more information exactly what's included.
I'm selling it for $37 and it's a great VALUE for what you get inside.
You can us e it as an inspiration to create your own process or just use it "as is".
Also, if you still haven't planned your 2020 please ENROLL in my 2020 Planning Workshop for Real Estate Agents.
The planning workshop will be available till the end of the year and after that, I'll take it off.
Thank you so much for joining me today. I hope it was helpful to you.
You aren’t sure how and where to start this exciting business that you’ve been dreaming of and are actually feeling confused in indecision mode because there-are-so-many-option-to-choose-from-and-you-do-no-know-which-is-the-right-decision and you feel overwhelmed with a never-ending list of to-do’s.
You’re not sure what to work on every day. Somehow this flexible schedule that was supposed to give you freedom has taken over your life and you don’t see a way out.