The IRS Can Play a Big Part in Choosing a Personal Real Estate Assistant.

The IRS Can Play a Big Part in Choosing a Personal Real Estate Assistant.

Are you getting too busy and need some help? I am almost there and have started to consider my options.

• Much of the work I could delegate would fit nicely into the roll of a personal assistant.
• A virtual assistant could do some of this same work.
• An agent could help me with some of my leads.

All 3 provide me with some relief but how do I decide?

First let me consider payment options.

• A personal assistant is going to be asked to do set tasks according to my instructions. This statement alone will put this person firmly into the shoes of an employee. I will now be in the role of an employer and have to do payroll. That's payslips and tax returns I care not to do at all.
• A virtual assistant will send me an invoice for the work performed so all I do is write a check. Seems better than option one.
• An agent would be paid more and be functioning as an agent in their own right and paid compensation the originates from the seller.

Now let me consider training.

• A personal assistant will be with me in the office so training will be easier and quicker. Ultimately the person will be able to do what I ask without continuous guidance. That will work very well for me.
• The virtual assistant. I don't know anyone so I would need a referral from another agent because that to me would be the best endorsement. Yet there are things I need done that are on the ground here in Barrington. So the VA may not be  my best choice.
• A licensed agent may need all to no training depending on their experience. To be on my team there would be some moulding.
  

What is my decision?

• Simply a personal assistant is going to be my best option. It suits me best out of the three at this point in time. Yet a personal assistant is not what I am going to do. I have decided to go for an experienced licensed agent to help with my client load.

Why?

• I have neither the time, inclination or patience to deal with witholding taxes, filing returns, W2's and all the other federal and Illinois state IRS rules.
• I can demand a high percentage referral from an agent and keep all my leads serviced.
  
• An experienced agent is less of a risk to me and my company.
• I am free to continue doing all the things I like doing be it clients, blogging or SEO
• I am helping an agent get back in the game and in a tough market that will make me feel real good.
  

 

So the IRS played a major role in the decision I made. I caution you if you are considering hiring a personal assistant, whether they are licensed or not the IRS rules about whether a person is an independent contractor or an employee are easy to interpret. If you don't want to deal with employee related issues perhaps a VA or an agent may be a better option for your team.

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