Hi Guys! Ok...couples of reason I wanted to re-post one of my older blogs..1- Streamlining your systems, your marketing, and increasing productivity is still a MUST even in this market. 2- Even if you are down-sizing there are ways in which a real estate virtual assistant can help you achieve this without getting too bogged down in admins tasks. Getting back to the basics and stenghtening your business model will have you all set up for 2009! I hope you enjoy this post from May 2007...
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As a Keller Williams assistant, I have written about the Three L's (Leads, Listings and Leverage) in a previous post, but because there are many new members seeking out options to grow, ...well...I just can't help myself. I'm blogging about something that I believe in. I've witnessed first hand here on Active Rain the success stories of using a real estate virtual assistant
. (For those who still haven't heard of the concept of using a real estate "VA", and what type of services we offer, you may read more here)
In the book, The Millionaire Real Estate Agent, Gary Keller recommends utilizing Administrative/Marketing support before hiring other licensed agents for your team. Why? The foundation of your business model needs to be firm and strong, your systems for lead generation, database management and marketing need to be implemented and working consistently.
So, Lets' face it. At some point you will witness the first catch 22 of real estate: "I really need to grow my business, but can't really afford an assistant right now, but if I don't hire an assistant I will be stuck BEHIND THIS COMPUTER my whole life!"
It is a dilemma to be sure. Especially now. 4 years ago, not many of you were spending time blogging, managing 2-10 websites, learning SEO...I know why...you were too busy! Real estate was rocking, listings were turning fast, and there was no end in sight. But now, things are a bit different. The market has changed. You may be busier than ever, but in another way. There are new technologies to learn, sellers are antsy to get their homes sold, they want to know how that will happen. What are YOU doing to make it happen..? Prioritizing your time management on administrative tasks is essential. The hours spent on those tasks are "non income-producing" hours. Hiring administrative and marketing support to handle those many hours is the first step in the path to growing your business. Cost effectiveness is second.
In choosing to hire an assistant you are also taking on the challenge of hiring, training and delegating. If you have reached the point that it is now time to consider an assistant, you should know the advantages an virtual assistant may offer over an in-office employee. Many advantages are common knowledge, but many dynamics of a real estate VA are still largely unknown.
#1~ Real Estate Virtual Assistants are independent contractors who are only paid for time spent on tasks. VAs do not charge you for idle time, bathrooms breaks, lunch hours, sick days or personal time off. A 40 hour work week for a traditional employee can turn into a 15-20 hour a week with a VA. If your time is worth $100 an hour, you lose $400 each week doing administrative tasks.
#2~ REVAs are already trained in most of the most up to date software, technology and real estate marketing. We know what a blog is, we know about listing coordination, real estate marketing, branding, Internet marketing, online transaction management, CMA's,...in a word, we know about real estate. Not only that, but our continued training is on our dime...not yours.
#3~ A REVA is not in the business to become your competition. We will not take your database and run off with it. We will not share your wonderful new marketing secret. In short...we are business owners, who know about running a business, and want to see you succeed. Why?...it's in my business model.
#4~ Want to add 3 hours to your day? Hire a VA in another time zone. We can still be working, while your gearing up for tomorrow...or writing that Gold Star blog for Active Rain;)
#5~ A REVA can weather market shifts. Since we are not dependant on you and you alone, if your business needs change or slow down, we are OK with that.
#6~ Need to start slow? Not sure where to begin or how much to delegate right now? A VA can be your best partner in deciding what to delegate and when, to keep you on track with your goals.
#7~ REVAs are in business to support clients that are interested in a collaborative relationship, a partner.
#8~ Virtual Assistance is a supportive industry. We share resources, knowledge, experience and are a "Real Estate Geek Squad". If we don't know an answer to something, we know where to go to find it.
Once that support system is in place you are ready to move onto the next level, whatever that may be. But finding that special assistant is one task a real estate virtual assistant is up for. Active Rain now has 255 virtual assistants members listed. We have 100 members in our group Real Estate Virtual Assistants. If you want to learn more, have more questions...throw it out there...we will answer your questions.
And remember what Gary Keller said in his book..."If you don't have an assistant, you ARE one! (ok, I just had to throw that in...;)
Laura Monroe | Real Estate Virtual Assistant
| Copyright 2008
I am the CEO of Creative Agent Solutions.com. My team and I assist real estate professionals in implementing online marketing strategies, Wordpress, social media, and business systems to catapult exposure and dominance in their marketplace, while focusing on productivity and the bottom line.
Copyright 2010 Laura Monroe | Real Estate Virtual Assistant
Creative Agent Solutions.com 916.343.3823
At my office meeting today we were discussing virtual assistants. My office has gone "virtual." We still have an office and a mail box but for the most part we are trying to be out in the world more. But having the "virtual assistant" should keep us grounded. I'm going to link this post back out to my broker.
Hi Dena! I was just thinking about you;) Its good to know that you can consider having virtual solutions to your office, and its a great way to downsize but keep up productivity. It also cuts down on additional training, when most VA's are familair with most RE products.
Thanks for reblogging this post. I love the quote, "If you don't have an assistant, you ARE one!"
Hi Janna- You're welcome! It's so true isn't it. I have to admit I feel the same way sometimes. Thanks for stopping by:)
Thats a great blog about what virtual assistants can do...its like a consultant for companies...
Very good post!!!!!!!!!!!!! Good luck to you.
Jim
Hi Sonya- Yes, very often we become consultants fro real estate professionals..one of the best parts of being a VA:)
Hi Jim- Thanks, and thanks for stopping to comment:)
Hey Laura, so happy that you reposted this blog - great information about VA's and how they truly can be consultants for real estate professionals. More and more I am hearing from people that they are hearing about VA's and by sharing with them all the things we can do it helps them realize we have services that fit everyone's needs. ~Anne Marie
Hi Laura- Thanks for re-posting this post, I think it is so important for Realtors to realize that even though funds are tight having a VA is not really a cost but a necessity as well as a great resource to the profession.
Hi Anne Marie- you are right in that as we see the market changing we VA's are able to change right a long with it, and be great productivity warriors and a great choice when downsizing. We are very customizable;-)
Hi Skye- No Doubt! the value is all encompassing to RE businesses..even when things get tight.Working with a VA on an "as Needed" basis is perfect for that.
Thanks for commenting you two..let's keep getting the word out;)
Great post and the need for a virtual assistant is getting greater. The market is moving towards the internet more and more and administrative tasks related to the internet can becoming very time consuming.
Hi Matthew~ I agree with you and do think that "going virtual" will be getting even more popular as more and more business owners start working from home when possible..Thanks for your insight!
I work from home and would love a virtual assistant. I stay so busy and the adminstrative tasks are what take up all of time
Hi Oscar- Contact me buddy, we can chat:)
Hi Laura,
VA's and online transaction management are two really great changes real estate agents could make to streamline their business and focus on the money. Both have been around for years....both should have more adoption in this industry.
Hi Rebecca- I couldn't agree with you more! Online TM is one of the most requested services, and is can be a great time saver. Thanks so much for commenting.
The beauty of these services is that the only things you can't really do are things which actually need to be touched in your client's office virtual assistant
Hi Laura, I'll re-read your posts anytime. I just know you're a great VA....have a wonderful Christmas, and it's good to see you around the Rain again. ;-)
Laura, I'm glad I ran across this. I have a part-time assistant now. I took a class several years ago and the instructor really was keen on Virtual Assistants. I remember thinking it was a great idea, but never followed up on it. I would be interested to know how helpful they would be working with my assistant. Some things she doesn't do well. I'm going to follow a couple of your links and see were they take me. Merry Christmas!
What a timely and excellent post, Laura. I know it took time to develope and post and really appreciate it. Will you be in orland for FamilyReunion in February?
Hello Laura,
Will you please send me an email about how the process works? I live by process and procedures with check lists. I currently have an in office assistant, I think it's time for a change.
Please explain the procedures for: I take a listing with the pictures, then you do my check list and ???
I get a purchase agreement, then you do the check list and ???
I close on a transaction then you do the check list and ???
I use Relay and Zipforms, I have a tablet, my current assistant scans in all documents then proceeds to the check list. I also use Docusign... My office is almost paperless. Some clients still need paper.
What is the process for sending out cards and calenders?
Tell me what else you can do that I haven't considered.
I know this may be requesting a lot by email, I would just like to get a hint of the process before we talk. Thank you! Angie@AngieRidley.com
If this is posted somewhere, point me. Thank you so much for the post and time.
Laura, I love it ! So true. I read that book and a lot of the things mentioned we are already doing but I know that we can implement more, especially what you focus on. Will come back and re-read this tonight or tomorrow. And btw, just subscribed to your blog : ) You have some valuable info in here !
Hi Laura,
Thanks for the well written post. I have explored VA before but never took the plunge. I think your post lays it all out for me very clearly.
Thanks,
Michael Layton, GRI, e-PRO
Keller Williams Realty
Palm Springs, CA
Thanks, I feel much better about my new hire!
!
Hi Laura,
Great post, and good food for thought. Question for you, do your VAs have good 33touch systems in place?
Beth asked my question, too. Do your VAs have good 33 touch systems in place?
Do your VA's work with Top Producer?
Patty Pugh, CRS, The Home Team at Keller Williams Realty, Dover, DE
Hey Laura :-) Great post as usual. I just started reading "The Millionaire Real Estate Agent" last night thanks to your recommendation.
I've gone back to a p.t. assistant b/c the quality of the hire is critical - otherwise its just a suk cost. But, without her I am the assistant and that definitely doesn't pay all the bills. Great post & quality content
good post.........
Bill Barrett -- www.billbarret.com - has a free download about hiring your 1st assistant and how many hours you can roughly calculate you'll need based on the volume of business you're doing - which has been a helpful reminder in the strategic planning of a p.t. assistant and eventual addition of a full-time assistant
Nice to read about an asst who is in tune with the KW philosophy and more importantly what works best for agents to succeed in the business.
thanks for the info - when I get to that point I will gladly delegate some of the work but not my blogs - they are personal.
I think that the REVAs bring SO much to the table! They know many of the systems and websites that we use and are able to get up to speed without a long implementation timeline!
Thanks for the great post!.. I am reading Millionaire Real Estate Agent and will remember this post.
I've read MREA a couple of times, but admit it's been on my bookcase for a good while. I recently joined KW and intend to get it out and dust if off. Unfortunately, the amount of time I spend blogging and managing multiple websites keeps me too busy to get to MREA. You make an excellent point about using a VA to handle those tasks, while I work on growing my business. Thanks for planting the seed of thought.
Hi Laura,
Great post. I am interested in finding out more. What is the next step in finding a great VA?
I refer to the Millionaire Real Estate Agent every day. If you have issues in your business, they probably come from some function of lead generation. Gary Keller makes everything in this business simple. It's not necessarily easy, but it's simple.
SHIFT has been great for adjusting the mindset of our agents here. We have more mortgage defaults per capita in our market than anywhere else in the US (I think Detroit is gaining on us, though). It's not a good title to have.
Thanks for the post!
Great information! Imagine how many more listings could be sold if they were marketed and posted on MLS Systems all over the world and not just one ??
Robert J Russell - 972-679-9029
International Real Estate Specialist http://www.robertjrussell.com
I have used virtual assistants for years. My most recent successful VA hire was a website I had built by some guys in India. It was cheap, fast, and they did a great job. I found them on Elance and they bid less than what I said I would spend for the project.
My Mentor told me...Dane you need to have a SYSTEM if you want to become succesful. I said ok what kind of system should I have. He just said make sure it is a S.Y.S.T.E.M.= Save Yourself Time Energy and Money. I have found a simple system that I have had my business partners in real estate use that has allowed them to create a monthly residual. And it is simple! I took time to learn it and now have perfected this system...I definantly save time energy and money doing this everytime I can, use this and you can seamlessly impliment it and start seeing instant results.
Who here has considered MAKING A RESIDUAL MONTH AFTER MONTH RATHER THAN A ONE-TIME PAYOUT OUT JUST ON SALES COMMISION ALONE? I can help you use a system that will pay you something continually. I have Brokers and Agents who make more in residual getting paid month after month on doing something once than the commisons from selling homes each month.
Stern_partners@yahoo.com
Thanks for this very positive post on REVA's. This is something I have been considering and I really appreciate the value of the points you made.
We just become KW agents on Monday....what a whirlwind week ! We have used VA's with mixed results and will certainly keep you in mind in the future !
Thanks Laura, for the reminder about the basics. Everything you said is true, especially #3 (DBB!) I am getting closer to a move in that direction again.
What a great post Laura. Certainly given me something to think about. Good to be reminded about Gary's comment too .......and how true!!!!!!
Laura, good post. I have to admit this is a new area for me.
Hi Laura. I've used a VA for the last three years. I have a lot of respect for all of you. Had it not been for my VAs, I would not have been able to meet my production goals. I'm starting to handle some of my own transactions to both relieve the overload from time to time and keep my hands in the processing side of the business for skills refreshment. Hats off to you.
Great post Laura. Our market centre is working hard to help us agents understand and develop confidence in taking this step. You have summarised a lot of what our team leader is telling us.
Great tips Laura! I'm utilizing a contract-to-close person who's in my office - well worth the small price she charges so that I don't have to hire an employee.
Great Post Laura,
I would love to talk with you about process, procedures, what you guys do and don't do, costs, etc.
Is there a way to set that up? I am usually always avail on my cell 410-320-6551!!
Thanks so much!
Diane
We are thinking of going this way on our team as well. Thanks for the great info
Laura I am so impressed with your professionalism, I will have to Hire you in 2010! My Coach says Plan for Leverage in my business!
OMG do I need you! Your post addresses my current situation perfectly. My "on site" assistant did not work out since she did not know enough about real estate and so I am working 7 days a week as a listing specialist and I have two buyer specialists that work with me. My business trippled in the past year, which was a great blessing but it's time to get the help of a systems oriented assistant and since my office is on a mountain top... virtual is ideal! Let's chat on Wednesday of this week if you have time. Thanks for the post and I look forward to meeting you (virtually)! :)
Hello,
well I just hired my first VA this morning so my reticular activator must be in VA overdrive. I plan on going to your site and seeing what services you offer because I know I will be hiring more very soon. Thanks for sharing.
The VA concept is a great one. I will have to look in to that. Thanks!
One of the hardest parts about hiring an assistant is the issue of dependency. It is too much responsibility for many agents to have to be make sure they make enough money to support another mouth.
Hi Marcy, Yes, it can be. Although for virtual assistants not so much. As independant contractors and business owners, we have the ability to take on as many clients as we need, some clients only use VA's on an as-needed basis.
I am a KW junkie. I swallowed the Kool Aid. I went to Family Reunion a few weeks ago for the first time I was blown away. I read your post and I could read it 10 times as I have done with MRE. Just a great way to do Real Estate
My VA rocks. I couldn't imagine life without a VA ever again. A good VA will start to anticipate your thoughts and needs and start asking for tasks before even know you need it.
"I really need to grow my business, but can't really afford an assistant right now, but if I don't hire an assistant I will be stuck BEHIND THIS COMPUTER my whole life!"-SO TRUE. Maybe its time for me to get one. Need to start looking around. Any advice/suggestions on what I should look for in a Virtual Assistant?
Hi Lanre~ I think the key to finding the right VA for you, is to sit-down a put your thoughts together about what you feel you should or could delegate to give you the results you need. Based on that criteria, interview VA's that have specialites in those areas. For example, that might be listing marketing, getting your email newsletter out, assisting you in your social media efforts, or website updates.
Then during the interview process you know just what to ask for, their experience, availability, are they pro-active, able to bring new ideas to the table, creative with systems and process. Feel free to contact me directly if you would like to chat about it!
Perfect article.
Got me to saying hmmmm, after today when I tried my first attempt at leverage with 2 buyer agents and 1 of them almost cost me 2 clients that I worked to bring in the door from internet leads and then she showed them 1 property and when they said it was too small she cut them loose. ThEY WERE ONLY 1 minute from office.
I called them both back and have appointments to write them in the morning.
Now do we see why I have struggled with starting a team?