Home : Blogs : Virtual Assistant | Crystal Pina : Crystal's Not So Random Thoughts

Do what you do best, we'll do the rest.

Case Study #1 - Pablo is a very successful REALTOR(c). He's made a name for himself in the first time homebuyer's niche. Between his backyard barbeque marketing, word of mouth, and his print advertising, his phone rings off the hook with people who want to move into home ownership. Pablo is high energy. He knows the formula to getting his buyers to make an offer fairly quickly. He's so good at this portion of his business that he can do it in his sleep.

Pablo is a natural at negotiation and his buyer's love him. The problem is that Pablo doesn't have time to dot all the Is and cross all the Ts in the transaction because he has a waiting list of buyers who needs his attention.

Pablo uses a virtual assistant for two tasks. His first virtual assistant makes all his appointments for him. He calls her and tells her what the buyer's criteria is and when he wants to be out showing properties. She searches the MLS for appropriate properties, then calls the listing agent for showing instructions, gets the lock box codes, and makes the appointments. She emails him the property information sheets so all he needs to do is print it out and go. Doing this step for himself slows down his momentum and he's on the fast track to success. He doesn't have time to slow down.

His second assistant takes over once there is an accepted offer. She makes sure all paperwork is in order and on time. He never has to worry about deadlines.

How does Pablo afford two assistants? Simple, he is only paying for time on task so he'd be paying exactly the same if he used just one. The advantage to two assistants is that he is getting true experts and not a jack of all trades.

While Pablo's assistants are doing what they do best, Pablo is out doing what he does best - making money.

(This is a true story. I just changed his name.)

Posted by Virtual Assistant | Crystal Pina on 09/28/2007 06:46 AM

Comments (4)

virtual assistants, case study

4 Comments on Do what you do best, we'll do the rest.

SEP

2007

This is good advice and my question is does it matter what state your in? Or because your virtual, you can be anywhere?

OCT

2007

Hi Todd. A virtual assistant can be in any state since most tasks are universal. When it comes to transaction management, every state is different so there may be a slight learning curve at first with your VA unless she's done it in your state already. The basic task list will be the same so it's not hard to learn new states.

Thanks Crystal for you answer. How much does it normally cost to get a transaction coordinator? I am assuming it is per transaction and not hourly like an employee?

I think most VAs charge per transaction, but since each VA is their own business, each does it slightly differently. The thing with TM is that a transaction for you will pretty much always be the same. You set a list of tasks that need to be completed, and the VA follows them. Each transaction will take approximately the same amount of time.

The thing to remember is that deals fall through. You may be able to negotiate a price based on three milestones, the beginning, the closing table, and then if the property actually closes. Meaning, all transactions must be set up and it's not fair to the VA not to pay them just because the deal fell through, so expect to pay something for setting it up. Second, taking the deal all the way to the closing table also takes time, so you want to be sure your VA is being paid fairly. Now, if the deal falls through, you don't get paid so you may want to negotiate a lower TM fee with a percentage bonus if the property closes. Again, all VAs are their own business and not all will negotiate. Plus, it's illegal for us to set a standard rate. If you talk to a VA who is unwilling to negotiate, ask them why. They may have a really good reason for doing things the way they do.

What it ultimately costs is based on the VAs hourly rate and the amount of tasks in your checklist. Some states have more requirements than others which will affect your task list.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?