7 Proven Benefits of Hiring a Real Estate Virtual Assistant

Only 25% of real estate agents make it to the end of their first year, while a measly 17% celebrate their career’s 5th anniversary. As if that’s not bad enough, 40% of agents sampled by the Consumer Federation of America reported selling only one or zero houses the previous year.   

In such a competitive space, real estate agents need every advantage. Only the best survive, which calls for innovativeness, resourcefulness, and a knack for quickly sniffing out the changing winds of real estate invention. 

However, with daily mundane tasks chipping away at already limited time resources, agents can only do so much.

The solution? A virtual real estate assistant to clear an agent’s plate of tasks that distract them from their business's core— closing transactions. 

But What is a Real Estate Virtual Assistant?

Real estate virtual assistants, also called real estate VAs or REVAs, assist industry professionals in focusing on their core tasks—such as building relationships and actually selling houses. 

With increasing industry competition, real estate virtual assistants have become vital to the success of top-producing agents. These virtual professionals are an extension of agents’ teams, handling crucial but repetitive and time-consuming tasks. 

Their invaluable contribution allows agents to command a more significant market share, effectively boosting their bottom line.

Wondering if a REVA would be a good investment for your business? Here are seven reasons why getting a real estate virtual assistant may just be what your business needs to hit the next milestone:

7 Proven Benefits of Hiring a Real Estate Virtual Assistant

1. Real Estate VAs Slash Operational Costs by 78%

The top reason real estate agents outsource is cost reduction. Real estate virtual assistant duties include those that would otherwise be performed by a full-time employee. 

By hiring virtually, businesses can lower costs such as training and in-house equipment. Hiring a REVA instead of a full-time in-house employee can lower business costs by up to 78%. Now, that’s a save!

2. REVAs Enhance the Talents of Property Experts 

Hiring virtual real estate assistants means getting the cream of the crop - globally. Additionally, REVAs are usually college graduates with exposure to different organizations worldwide and specialized expertise in varying areas, including customer support and portfolio management.

Access to this diverse pool of talent greatly enhances the expertise of property professionals, resulting in a harmonized effort to achieve revenue goals. 

3. Happy Team, Higher Productivity - Real Estate VAs Have Higher Job Satisfaction

Job satisfaction is the key to high employee production. Real estate virtual assistants report higher job satisfaction, which translates to increased productivity. It’s a win-win for real estate agents or businesses seeking motivated staff to propel the business forward.

4. REVAs Help You Outsource Repetitive Tasks and Close More Deals

Real estate virtual assistant duties include many repetitive tasks, such as;

• Administrative responsibilities, including data entry and market research.
• Client communications, such as appointment scheduling and management and responding to routine inquiries.

While important to business growth, these tasks are never-ending. They can easily be included in a real estate virtual assistant tasks list. Agents with REVAs have more time to increase productivity, close more deals, and ultimately achieve their business goals. 

5. Expert VAs Help Real Estate Agents Become Lead Magnets

REVAs are more than just personal assistants; they also help agents maintain and nurture leads through efforts such as: 

• Content marketing through targeted email campaigns and social media content.
• Relationship building with existing and new clients. A real estate virtual assistant's duties include prompt responses and client relationship management (CRM) proficiency, which encourages referrals and in turn, growth for the business.
• Streamlining lead conversion efforts through efficient follow-ups and lead capture.

6. Gain a Competitive Edge Over Agents Who Try to do it all Themselves

At some point, we’ve all wished we had more daily hours. Virtual asssistants make that a reality. A real estate virtual assistant's skills and expertise give agents a much-needed advantage over their competitors and increase revenues by taking over tasks that would otherwise eat into precious time better spent elsewhere.

7. Close More Deals By Minimizing Errors with Smooth Transaction Management

Documentation issues have cost many agents deals that were almost completed. Reports suggest that 90% of realtors have missed out on opportunities or encountered financial loss due to poor documentation.

With a virtual assistant, the risk of deals falling is minimized through:

• Document management, including following up with involved parties to ensure all needed paperwork is available.
• Staying on top of communication with lenders and inspectors to snag out any obstacles during the transactions.
• Scheduling appraisals or inspections and arranging closing appointments. 

With a REVA, agents can minimize the risk of contract disputes or legal issues caused by poor documentation. 

Ready to hire a real estate virtual assistant but not sure where to start? Here are three crucial basics to get you started:

• Top crucial real estate virtual assistant skills
• Types of REVAs in the market
• What to include in a real estate virtual assistant job description

Must-Have Real Estate Virtual Assistant Skills

Real estate virtual assistants can be the missing link between an agent’s ambition and realization. To get the best REVA for your real estate career, here are some qualities to look out for;

• Familiarity with Real Estate

It’s a no-brainer: industry knowledge is a huge advantage in a REVA. The duties of a real estate virtual assistant include answering routine inquiries. Familiarity with industry terminologies will be required to offer good customer support to potential and existing clients.

• Exceptional Customer Service and Support

Real estate is a fiercely competitive landscape. One of the hallmarks of top-producing agents is their exceptional customer service and timely support. An excellent real estate virtual assistant should know how to anticipate client needs and offer support to keep clients returning and referring the business to their friends.

• Time Management and Organization

The tasks for a real estate virtual assistant include managing an agent’s calendar and scheduling time-sensitive appointments. Time management and good organizational skills are also must-haves for a REVA. 

• Attention to Detail

Part of a real estate virtual assistant tasks list may include transaction management, where details can mean the difference between a commission in the bank or a frustrating legal dispute. It is essential for REVAs to notice the small things to arrest mistakes or discrepancies early on.

• Tech Know-How

REVAs work remotely using software for efficiency and accuracy. A REVA, therefore, needs to be tech savvy to manage property listings, automate repetitive tasks such as content scheduling for social media marketing, and for data analysis and reporting on lead generation efforts.

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Different Types of Virtual Assistants In Real Estate

In response to the expansive and diverse nature of the industry, different types of virtual real estate assistants have emerged, all boasting specialized skill sets. Here are three of the most popular real estate VAs:

• Virtual Assistant for Commercial Real Estate

This subset of REVAs assists commercial real estate professionals with property management, analyzing lease agreements, and marketing. Commercial real estate virtual assistant skills include understanding management software and financial analysis. 

• Virtual Assistant for Real Estate Investors

Real estate investors seek out VAs for deal sourcing, in-depth market research, and property analysis. This role requires more than a surface-level understanding of real estate investment strategies and the use of data analysis tools. 

• Virtual Assistant for Real Estate Agents

An agent’s real estate virtual assistant's tasks include lead generation, appointment setting, and paperwork management. Their skillset includes familiarity with transaction management software and real estate marketing platforms like Zillow. 

What to Include in a REVA Job Description

After identifying what is a real estate virtual assistant and the type best suited for your business, it’s time to prepare for success by jotting down what is expected of them. Here’s a general guide on what to include in a REVAs job description:

1. Pre-Listing Preparartions

Before listing a property, real estate virtual assistant tasks include:  

• Manage seller appointments, research past sales, and gather basic property details.
• Analyze similar properties and prepare a "Comparable Market Analysis" (CMA) for market value.
• Verify ownership, download property records, and research land use restrictions.
• Prepare a comprehensive listing presentation package for potential buyers.
• Research property history, obtain subdivision plats, and research utilities and average costs.

2. Post-Listing Duties

• Obtain mortgage details, identify the HOA manager (if applicable), and collect financial statements.
• Research availability and contact information for all utilities and gather average usage data.
• Verify water/sewer system compliance and calculate average fees.
• Research/verify natural gas, security system details, and termite bond status.
• Prepare lists of amenities, including personal property and completed repairs.

3. Populating Relevant Databases

• Enter listing details into MLS within 24 hours of signing the agreement and add the listing to your company's active listings database.
• Load listing data into a transaction management software program.
• Review and correct MLS listings, keeping all information accurate and up-to-date across platforms.
• Assemble pre-listing and listing packets for quick access during presentations.
• Assist with CMA research using provided templates to gather relevant property data.

4. Listing Support 

• Maintain and update property photos across MLS and websites, ensuring they accurately represent the property.
• Collect verbal/email feedback from showings, maintain a log, and communicate updates to seller and agent.
• Keep all advertised prices current across MLS, websites, and marketing materials.
• Schedule advertising based on the agreed-upon marketing plan for each listing.
• Design and compile property information packages for distribution at listed properties

5. Marketing the Listing

Part of real estate virtual assistant duties and responsibilities during market listings may include:

• Create online ads and print materials.
• Manage appointments for buyer & agent showings and coordinate open houses with the seller/tenants.
• Prepare mailing lists, design postcards, merge data, and send "Just Listed" notices to the neighborhood.
• Design, print, and distribute flyers and marketing brochures for the property.
• Upload listings to company & agent websites, single property websites, and relevant real estate portals. Update online listings promptly with any price changes.

Partnering with a Real Estate VA For Your Careers’ Success 

In an industry that demands your absolute best, having a handy assistant with relevant expertise is a game changer. Imagine the possibilities: a break from never-ending repetitive tasks, more time for growth-focused efforts, and a happier, more fulfilled you!

Engage the services of a real estate virtual assistant today and watch your career soar!

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