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REO AGENTS WANTED... Virtual Assistnts needed...

By
Real Estate Agent with Advantage Partners, LLC Realty

Hey - it's me again... Eric Henderson, Broker of Advantage Partners LLC Realty in Wichita, Kansas.

I've been learning a lot on these boards, and on other sites... I've worked my butt off to get some good listings from Ocwen, First Preston, Bank of America, Fannie Mae and others - I do a ton of BPO orders...

If you are like me - you might be wanting to take your business to the next level - hire an assistant to help with the data input chores and contract followup.

I have long been a fan of delegating authority and responsibility with full oversight and final approval - if you catch my drift - but trying to find someone in your local market who understands what a BPO is, the vendors out there, what they require different from each other, how to get info from our MLS and county courts etc... well... they just don't exist in any large numbers... I learned the hard way...

I have tried hiring a local person - spending the time to train her - then realize she was related to another broker... sneaky... I found a younger college aged person to help organize things, be a customer care coordinator and follow up with all my leads online - but she moved... I found a ex-mortgage broker that wanted to get his license, so I paid for it - gave him listings, trained him on bpo order and how to research... but he got suckered into a low-paying hourly job working for another broker...

I've tried hiring from local employment center and companies that place individuals with disabilities... just trying to get some of these people to just show up for work is hard enough...

I just can't afford to spend so much time and money investing in an individual to find that it does not work out... Ever feel like this?

The point is, ladies and gents, it's dang hard to find someone to do what we do on a regular basis...

BUT THERE IS HOPE!!!

I remember reading many articles through the years - some even by "Mr. Internet" himself in the REALTOR magazines... all focused on "Virtual Assistants"... or real people that know the business but are now working from home or a small office to help professionals around the country - or world...

Basically - you decide what you need to have done on a regular or part time basis - even a one time job is acceptable to some agencies and individuals... someone with reasonable qualifications finds your help wanted post - and will basically be an assistant to you - remotely. No one ever needs to know... but does it work?

Now - this idea is not new - there are many resources online for finding help and hiring tele-commuting employees and contract work... but trying to find someone that is talented in sales, customer service, the Internet, and understands our processes as a listing and BPO agent - well - that gets difficult...

I am here to say - it WORKS. I recently hired a few assistants - one in Florida, on in Washington and the other is in California. One works on writing articles, updating my website and writing blog posts for me... another calls on all my leads, classifies them, gets them preapproved then sends each client back to me or to one of my agents as a prequalified hot buyer with a list of exactly what they are looking for... kinda cool right? The last one helps me with data entry chores - understands our mls service and how to pull comps. ALL of them are former or current real estate agents - most are full-time parents that just decided to stay home with the kids, and while they are in school they just want something to do... AND THEY ARE VERY AFFORDABLE TO MY SURPRISE!

I want to give you a tip - don't pay for listing your job... seek out qualified individuals, get referrals, and find out how much they know BEFORE you hire... Now, like some of the services out there that you will find - ones devoted to real estate agents seem to be the logical choice - I found that these were the most expensive and usualy set up by a broker or agent trying to supplement his or her income... not a bad idea - but more expensive to me...

Please help me add to this list - and write a review of your vendors and how you found them...

My favorite so far -

1) HireMyMom.com - believe it - the best place for top talent I have found. I was expecting a bunch of uneducated, unmotivated individuals and hoping for at least one or two good ones to choose from - what I get was a TON of VERY QUALIFIED professional women who are at home most of the time now - that really put my experiences to shame when it comes to expertise in the world of REO, mortgages, real estate in general and sales... I posted a simple Real Estate Virtual Assistant wanted ad - and instantly had resumes pouring in from all over the country! I have current and ex real estate agents, retired brokers, attorneys and corporate higher-ups who all have responded to the ad... All ages, and enough experience and knowledge between them all to seeming run this entire country! Seriously! I actually checked some of their claims out - like the one that had so much senior level underwriting experience or the one that ran a real estate law office in New York...

Simply the best... but for PENNIES! My ad was for $10-$15 per hour - THATS IT!!! Aprox $200/week for each position... and I am getting TONS of inquiries STILL TO DATE!

Guys - I found some help - these ladies are just awesome and will take care of your clients - AND YOU... If they help you with a big close - REWARD THEM! I am doing more business now than I ever thought possible - and I don't have the overhead of an in-house employee!

Go there - NOW - post a position if you are serious about getting some help - there are some amazing people there that are available NOW...

Got a favorite Real Estate Virtual Assistant? Tell us about it - pros. cons?

Matthew Naumann
Exit Realty Charleston Group - Goose Creek, SC
Goose Creek, SC Real Estate Agent

Eric,

Thanks for Hiremymom.com website.  I have tried other virtual assistants, but the rates were little higher than I could afford at the time. 

Thanks again,

Matt

Jan 20, 2009 01:52 AM
Eric Henderson
Advantage Partners, LLC Realty - Wichita, KS

No problem! Another one I found to have some merit - http://www.getfriday.com  rates are around $15 on a payment plan or task-based... I like hiremymom much more because the talent there actually pays to be a member and it is free for us to post jobs to - but each job is manually reviewed so the talent there is not getting run over by crazies and postings for positions which are not from reliable companies... thus it attracts more quality talent - and seems to have a lot of it... plus there is no pay plan or minimums - it appears all we di is just hire direct or as independent contract for any work the talent there does for us - other VA sites want to play middleman too much in my opinion - and they take a cut of the work billed... My CPA and I like this much better with hiremymom - they contact us directly, we interview directly - we hire directly. Just like a real in-house position and job.

Jan 20, 2009 05:20 AM
Eric Henderson
Advantage Partners, LLC Realty - Wichita, KS

I've had many of you now emailing me about this post - do some research - taking the step and hiring an assistant is a business decision you have to make - you MUST be ready to pay him/her and should consult with a tax professional on how to best setup your business as an independent contractor for a broker if you are an agent and also wanting to hire an assistant...

My advice - only as a broker/sales pro like you - check into your state laws, again ask competent advisors, In Kansas anyhow - we are individually licensed - but I can form a professional LLC or other entity and designate my license to it... This way - I couldlegally receive commissions from my brokerage directly to my company - pay all my bills for ads, gas, car maintenance, leases, mls fees, dues, etc... right out of this LLC and then have anything else taken as guaranteed payements to myself or distributions to myself for reportable income I can show to make applications for credit when I needed to... It really cleaned things up.. but what it really did was make me focus on what I was earning - where I was spending and what I was actually taking home or had left to expand my amrketing and followup efforts with... not even to mention ALL THE MANY tax and liability reasons you should be incorporated as a LLC or other entity when dealing as a professional in any industry... Attorney's do it - you should too...

When you are set up properly - you will have to decide if you are going to hire assistants as independent contractors or as wage earning employees - I am NOT AN EXPERT - but my CPA IS! Get one - he/she can save you a fortune! Anyhow - since my remote assistants are not using any of my tools, hardware, internet connections or even paper - I simply pay a fee for service - I am able to classify them as the same as most agents are with their brokers - now please dont start with me about how most real estate agents should not be 1099 but rather employees of a broker if htey are officed and using the broker's equipment... I have seen no good come of any discussions regarding that - I personally feel that most brokerages where the broker gives specific direction and expextations of work to be performed and when his/her agents use his/her office and supplied to accomplish this task - that the case may be made that the 1099 agent is really an emplyee and should be subject to witholdings and other tax matters... it gets complicated...

Bottom line - get some good advice from a CPA and an attorney in your area... what works for me may not work for you...

The good thing of it all is that when I was finally designated as a professional LLC - it was THAT MUCH EASIER to make the next move - and go out on my own or switch brands... and I did not personally guarantee everything... the company did... of course I can still be held liable for outright fraud on my part - but having a bit of protection under an LLC helps a lot in some of the little issues that are bound to arise in complicated transactions - even years after a transaction closes you can still get sued... you need protection... get set up...

I suppose I should post some links to places to help with getting set up.. truth is - there are a bunch out there - none I like... I got with my CPA who helped me draft my articles of organization, set up my books and helps as a general business advisor - I talked with the SBA Small Business Develpment Center SBDC in my area (you should have one too) - it was FREE!!! to talk to them and get advice... Of course my CPA charged me more than I would have had to pay if I bought some junky LLC book or form and filed it myself with the secretary of state and the irs - but he knew how to do it - got it done overnight and I was in business the next day... and its a solid LLC I can rely on.

I don't claim to be ab expert here - just expert at knowing when I dont know the topi at hand - and then seeking out someone to fill this gap...

Which brings me back to hiring a virtual assistant... there are some really smart cookies out there folks... you just have to be willing to ask for help and pick only the best...

When you have our business structure and cash flows under control - you will be able to figure out how much you can start with - build on it and grow your team... nation-wide if you like!

You know - there were some pretty amazing ladies that responded to my posts on hiremymom.com - some were CPA's, attorney's and other professionals... never tired it yet - but you might consider getting some advice online as well! Might just work!

Feb 15, 2009 04:36 AM
Anonymous
Tami Hughson

Like Eric said, on of the many benefits of hiring a company to work virtually is that you don't have to keep training and worrying about retention. You have a virtual staffing company worrying about that for you. You always get your work done on time to your standard of excellence.

Another benefit is that many virtual companies charge flat rates that help you budget and know that jobs are done for one price no matter how long the task takes. You may hire one person who can complete a report in 30 minutes, but the next person, even if they are doing the same quality of work may take an hour.

Our company CVAS, also provides experienced BPO/REO admin to busy agents with a 24 hour turn-around on report completion. 

www.CreativeVASolutions.com

Tami@CreativeVASolutions.com

888-826-9549

Aug 05, 2009 04:50 AM
#6
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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