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Virtual Assistants?

By Jason Bhattacharya

Real Estate Agent with ARDENT PROPERTIES

February 21, 2008 04:10 AM

My growth has been wonderful-- and I have truely been blessed by the deals that I have to work.

My in house assistant was unable to keep up with the demands of working REO (for me) and has quit.

I've been considering working with a Virtual Assistant (VA) -- to handle some of my tasks.

I've spoken to two VAs so far.

For the $30-$40 they charge per hour, are they worth it?

Most of the VAs that I have spoken to -- do BPOs but they do NOT: Pull Comps, Pull Market Info or Determine Pricing (I can understand the pricing issue). However, it seems they only enter the factual information (beds, baths and SQFT) and make no adjustments. Is it worth sharing $15-$30 to have them enter the info that takes less than 10 minutes? Most of the time -- is spend on thought (how much do we adjust)?

The questions I have are:

-Is it worth the money?

-Do they pay for themselves?

-How much do you trust them with?

Based on my initial research-- finding a GOOD VA is a task in of itself. However, if you find one that you get along with-- then they MIGHT be worth GOLD.

What are your thoughts?

-Jason

Comments(10)

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Matthew Boughton

Realty World Pacific Northwest - Longview, WA

$30-40 an hour? WOW! I could hire 3 assistants for that in house. Sounds like they have gone virtually insane.

Feb 22, 2008 04:33 PM

Sandra Workman

Coldwell Banker Realty - Bradley, IL

BBA, Broker, CRS, GRI, ABR, SFR, CNE, ePRO, CNHS

Wow, I'd be your virtual assistant for that price!! I don't trust anyone that doesn't sit at a desk right where I can see them and do what I ask them to do. If I'm responsible for it, I want to be able to see whats being done.

Feb 23, 2008 12:42 AM

Laura Monroe

Inman News - San Francisco, CA

Dir. of Industry Engagement & Social Media

Hi Jason~ Sorry to hear you have lost your assistant:( I am a real estate VA, so I'm hoping I can shed some light on this for you. Not everyone is suited to work virtually with a Real Estate Assistant, especially not without some vital information. So I'll start with your questions.

The questions I have are:

-Is it worth the money? Well, one thing to consider is with an in-office employee, you are paying employee taxes, office space, time-off. With a VA you do not. With a VA you are only paying for time on task, meaning not an entire days worth of sitting at a desk on days that there is nothing to be done. Here is a calculator I have on my site to run the numbers. Other than that its a matter of investing the time and energy into finding the right one. One thing you might consider while looking for a VA....Are You worth working with...?

-Do they pay for themselves? What do you mean...Do we pay for ourselves.? I'm assuming this is our own taxes etc. Yes, we do, we are independant contractors. We have our own computers, offices etc. However, we do not pay for your printing, mailing, vendor programs, or MLS access.

-How much do you trust them with? You will find with most reputable VA we have Confidentiality Agreements in our contracts. What is the difference between a VA or an in-office assistant as far as trust?

Based on my initial research-- finding a GOOD VA is a task in of itself. However, if you find one that you get along with-- then they MIGHT be worth GOLD.

No truer words have ever been spoken, what do you have in place to find the right VA..? Where are you looking? We may Request a Proposal from our VA system here on AR. Simply post your job description and requirements, and you will be able to have VAs contact you if they are interested.

Here is a blog series I wrote a while back that you may find informative as well. The Ultimate Guide to Real Estate Virtual Assistants. I HIGHLY suggest you read it before hiring a VA. It will save you a lot of grief.

Good Luck!

Feb 23, 2008 06:11 AM

Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc. - Greenwood, IN

REALTOR Greenwood Indiana Real Estate

Jason,

Any luck on your search so far for your assistant? Did you go with virtual?

Mar 07, 2008 11:19 AM

Jason Bhattacharya

ARDENT PROPERTIES - Chesterfield, VA

Hey Heather,

I've spoken to several VAs --- And I have started a relationship with one.

I realized one thing-- I am a CONTROL FREAK. That complicates her job (as would it of ANY VA).

The lady that I am dealing with so far-- has shown great patience and willingness to learn. In my book-- this one asset weighs heavily. Her work ethic is good-- and I haven't yet been disappointed. On the contrary-- She works her butt off to ensure that I look good!

So far, she's doing my BPOs (data entry only) ... But she has not complained once when I made comments about the work. My standards are extremely high and not what most people are used to. However, she has made any and all changes that I requested-- without one word of complaint.

I can only speak good of the lady who I am working with currently. However, I came across another name of a VA who appears to be AWESOME. Unfortunately, I have not used her services, yet.

What I will probably wind up doing-- is hiring an in office person, eventually. However, a GOOD VA can allow me to delay that requirement.

If you are interested in their names and contact info-- I'd be happy to share!

How is your REO business going?

Mar 07, 2008 11:53 AM

Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc. - Greenwood, IN

REALTOR Greenwood Indiana Real Estate

We got our first 5 Countrywide listings while I was down with the flu, that was fun so we didn't get red tasks...:), we did get a couple darn red tasks anyway while Countrywide was converting over to reotrans, so I am going to follow up like your other blog was talking about. I turned in my notice to my broker for the admin work that I was doing because we also got a couple of other listings and I want to kick $#@ at the reo, WHILE building the other business as well. SALES!!!!!!!!!!!! once you are in it and get a taste of the freedom financially and otherwise, there is nothing else like it. You can't explain it to someone who hasn't gone to that side, but oh well.. I am excited, know not to post as much info here as I was, so I can protect what I am working hard to build, and it is HARD not to ask for hints from others, I am wanting another account now, goal within the next 30 days for that door to open hard!!!!!!!!!!!!

We are good on the assistant part for now, but that is great that you have one and then another possible candidate. Perfection is good, and if she is good, be sure to compliment her and tell her you appreciate her patience. Although for that pay, I guess that is appreciation!!!! :)

How is your REO biz doing?

Mar 07, 2008 12:01 PM

Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc. - Greenwood, IN

REALTOR Greenwood Indiana Real Estate

BTW-we got four offers on our first of those five listings, within about a 24 hour time frame. Not that they will all go that way, but that was exciting.

Mar 07, 2008 12:03 PM

Jason Bhattacharya

ARDENT PROPERTIES - Chesterfield, VA

Heather,

Glad to hear that your REO biz is picking up. Now you see where some of the comments came from when you were asking questions. The shoe is on the other foot-- and now you want to protect your shoes. :)

My REO is going pretty well. I've got 10 or so actives 5 pendings and about 13 pre-list.

So I'm doing pretty well on this end-- and am looking forward to the upcoming conferences. Are you going to any?

My best tip to you - is get some people in place. That way you dont' wind up in the situation that I did.

-Jason

Mar 07, 2008 12:39 PM

Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc. - Greenwood, IN

REALTOR Greenwood Indiana Real Estate

Jason,

I haven't come across the conference info so far. :) I guess that is next on my mission to find out about.

Did you get bombarded all at once on some of them?

Any one else on here go to conferences-that you know?

Mar 07, 2008 12:55 PM

Jason Bhattacharya

ARDENT PROPERTIES - Chesterfield, VA

Heather,

If you are good--- It will all come at once.

I have been in REO for about 6 months.. and I've got 5 to 8 closed... and 28 files...

One client (HSBC) mainly though. However, I"m working on CW as a client.

But if I wasn't able to pull the hours-- I would have fallen behind. I'm now using the VA to do some of my tasks-- and as I trust her more-- I'll give her more.

Really, entering comp data-- isn't rocket science. And by her doing that aspect-- it leaves me more time to do more work.

Give me a call-- and we can talk.

-Jason

Mar 07, 2008 01:17 PM