I have a lot going on in my life. I have my real estate team of 9, my 13 rentals, my fix and flip business, I write this blog and I have a family (including 4 year-old twins). There is no way I could accomplish all of this myself; I must have help. I have hired people wherever I can to help make my life easier and give me more time. If you are just starting out in the business or are tight on funds, virtual assistants are one way to get affordable help. If you are in the real estate business you want to make sure the virtual assistant you hire knows real estate. There is nothing more frustrating than hiring someone to save you time, but you spend even more time training them on things they should already know.
How have I hired people to make my real estate business easier?
I first started in the real estate business on a team with my father. We had one assistant that helped both of us for years. When I started to get very busy in the REO business I hired my own assistant. I went from working 12 hour days to working a somewhat normal schedule, but the best part was I did not have to worry about all the busy work and little stuff that took up my time. I could also have my assistant do the tasks I hated doing. A bonus was my work improved, because she was better at some things than I was and I got my work done quicker. I took over the team and have since expanded my hiring and team.
- We replaced our first assistant with another assistant who is our contract manager.
- We hired two real estate agents to help sell houses and complete BPOs.
- We hired a team manager who is also a real estate agent and sells houses.
- We hired another agent last year (who is doing awesome) and another this year.
- We hired two of my cousins part-time to help with accounting and inspections.
- We just hired one of my contractors to work full-time for me to manage all of our repairs on flips and rentals.
Hiring people is scary and it is expensive, but it is the best thing I ever did for my business. Some people think it is harder to manage a large team and keep track of everyone. If you hire the right people they make your life easier and if you hire the right managers they will take care of the headaches for you.
Not everyone can start out hiring local people and even people who have a large team like mine can use virtual assistants to make their life easier.
How do virtual assistants work?
Virtual assistants (VAs) are people who you hire to help with a number of tasks that are done online. The virtual assistants may be in the United States or they may be in another country with much cheaper labor. There are good and bad virtual assistants and it can be tough to find the right virtual assistant for your business. Some VAs are great at SEO, blogging, social, media, but don’t have a clue about real estate marketing. There are companies that specialize in providing VA’s for almost all business segments. Below is some information from a VA company, who has actually been very active on the InvestFourMore forum. They specialize in real estate virtual assistants for investors and real estate agents.
How can real estate virtual assistants help your business?
My name is Mads Singers and I live in the Philippines, where I run RealEstateVA2Hire.com along with my partner in North America where we support customers around the globe with Real Estate Virtual Assistants. Our virtual assistants can help real estate agents and real estate investors in a number of ways, but the most common tasks they currently perform are:
- Property listings and postings
- Craigslist searching
- Lead generation (based on whatever system the client prefers)
- Customer service, answering emails, chat or phone calls.
- Online marketing and PR
- CRM (database) management
- Social Media management
- Forum management
- Other administrative tasks
Is your real estate business not growing?
There are many real estate investors wanting to grow their business, but so few seem to be successful in doing so. Building successful valuable businesses is about creating and automating processes and workflows. That means having a business that run’s even if you are NOT around. Does this happen overnight? No!
The first step in growing a business is realizing that you can’t (or at least shouldn’t!) do everything yourself!
The Investors that realize this and start either hiring outsourced staff or local staff are the one’s that successfully manage to grow their business.
What does it take yo grow your Business?
Before you start hiring people, it’s a good idea to look at your workflow – Take things one step at the time. What would be the first task you would ask someone else to do for you? What would the steps be? Write them down with specific steps and outcomes. This is often difficult the first time, but often ground breaking, even if you DON’T hire people, why?
Having an effective business is about having clear ideas about what you are doing. As an example, I see investors spending a lot of time on the likes of Craigslist. If they don’t have a set process for what they are specifically looking for, they waste time. Looking through all the houses that they are never going to buy and they often look for “excuses” on why to buy a house that they really shouldn’t, because the systems are not in place to find the deals. They are acting like sellers in distress and sacrificing their standards to buy a house.
As soon as you start making clear guidelines for what you are looking for such as “2-4 Bedroom, 2-3 bathroom, $50.000 – $350.000” and the location you will save time and have a better selection. When you have a clear script like this, even when you are doing it yourself, the speed in which you can execute this process becomes so much faster.
With a virtual assistant imagine having a list of possible deals emailed to you every day that the assistant found?
Is that really all it takes? In principle yes, I always like creating a big list of all the tasks I do (and I mean all!) and figure out what can be done by someone else to save me time. People rarely realize the amount of time they spend on tasks and as soon as you get your first person on board working for you, you will start to realize how much additional capacity you have for money-making activities. Imagine if you spend more time focusing on communicating with sales leads and closing deals, instead of busywork?
How can you get started with a virtual assistant and whats the first step?
I recommend starting out where it matters most, which is getting you more business. Whether that’s looking at MLS, classified ads sites, doing social media or creating a web page. The more leads you get, the more sales and purchases you will have. The more cash you have available, the more aggressive you can be in growing your team and freeing up your time for the high value tasks.
How can you get started growing your business and your team? At RealEstateVA2Hire.com, we provide outsourcing solutions specifically for the real estate Industry. Our staff has a great understanding of the real estate industry and you will not have to teach them the entire business. You will have to teach and explain your specific processes and how you do business. Our Filipino virtual assistants start at $550 per month for a part-time (20 hours per week, $6.85 an hour) and $925 per month for a full-time (40 hours per week, $5.78 an hour).
If you have any questions you are welcome to reach out to me, my email is [email protected] or leave a comment on this post.