Cardinal Point REVA - FAQ by Kim Alvis

Cardinal Point

REVA

Charting virtual solutions for today’s real estate professionals!

Real Estate Virtual Assistant Services Frequently Asked Questions Working virtually is continuing to step away from being the exception and increasingly becoming the norm. As more and more Realtors begin to realize the benefits of working virtually by retaining a Real Estate Virtual Assistant, many questions are asked of those that do.

What is a Real Estate Virtual Assistant? A Real Estate Virtual Assistant is a highly skilled independent business owner who provides services to Realtors by using modern technology. The use of this technology enables the Real Estate Virtual Assistant to seamlessly support clients from within their own market and in markets across the U.S. Real Estate Virtual Assistants strive to stay current in modern technology. On-going education in all aspects serving Realtors and managing businesses becomes the core of a successful Real Estate Virtual Assistant practice. A professional Real Estate Virtual Assistant is always seeking new tools and techniques to make their client’s practice successful.

Why partner with a Real Estate Virtual Assistant? Partnering with a Real Estate Virtual Assistant gives today’s busy Realtors as little or as much professional support based on their needs and budget. This allows the Realtor to receive the benefits of a dedicated staff without the corresponding expense. By partnering with a Real Estate Virtual Assistant, a Realtor will eliminate numerous overhead costs. Among the areas where a Realtor will see immediate savings are: employee benefits, payroll taxes, training, office space, furniture, equipment and software.

Cardinal Point

REVA

Charting virtual solutions for today’s real estate professionals!

I can do things for myself, so why should I contract with a Real Estate Virtual Assistant? True, as a Realtor you can always do things on your own. However, there are only so many hours in a day. Have you analyzed what that decision actually costs you and your business? Let‘s look at a “real world” example. Jon is a Realtor and his annually compensation computes to $120/hour. Working in a small agency – he does it all. Recently, Jon has become overwhelmed with the managing numerous listings and an in-pouring of leads in his real estate practice. He has realized the bottleneck that has been created and has decided to hand off the management of his listings and leads to a Real Estate Virtual Assistant. By just simply delegating these tasks, Jon freed up 5 hours per week to work in his market. With more time devoted to work within his market rather than at his desk, Jon was able to focus on the part of his business that actually creates income. Those additional hours could potentially translate into an additional $1600 per month for Jon’s real estate practice. In addition, Jon’s listings are now being enhanced and promoted on-line, giving them more exposure than Jon had time to devote. His leads are being quickly captured and added to target marketing campaigns that keeps Jon in front of his market. Jon will realize even more sales from the professional management by his Real Estate Virtual Assistant of these two important aspects of his real estate practice. Jon has established a partnership with his Real Estate Virtual Assistant on an on-going basis so that his real estate practice can move up to the next level.

Isn’t it more expensive than hiring an on-site assistant? Actually no, it’s not. At first glance when just comparing rates it appears so, but as we all know some appearances can be deceiving. By retaining a Real Estate Virtual Assistant, Realtors realize savings in several areas, including: Employee Benefits – Real Estate Virtual Assistant is a business owner and not an employee. The Realtor is not responsible for payroll taxes, social security, Medicare, insurance, sick pay, vacation, profit sharing, or many other benefits. Office Overhead – Real Estate Virtual Assistant has a fully equipped office; purchases their own software and equipment; and provides their own office space. (304) 586-6138 ▪ (304) 982-7008 [f] www.CardinalPointREVA.com ▪ www.cardinalpointassociates.com Copyright © 2008 - 2009 Cardinal Point Business Associates, LLC All Rights Reserved Page 2 of 3

Cardinal Point

REVA

Charting virtual solutions for today’s real estate professionals!

Downtime – Real Estate Virtual Assistant only invoices clients for time spent on tasks. They do not bill for time-wasters such as coffee breaks, water cooler chats, internet surfing, or work day lulls. Oversight Management – Real Estate Virtual Assistant produces results and stay on task. No idle time is being spent waiting for instruction and your time is not spent managing their work day. Training – Real Estate Virtual Assistant can hit the ground running. They are always learning new skills to enhance their business and theirs.

How does it work – implementation, communication, project delivery?

Real Estate Virtual Assistant takes the time during a consultation to learn about your real estate practice; discuss what programs that are being utilized to promote listings, manage leads and keep you in the forefront of your market. They lean how you and your real estate practice works best and then will structure a plan to meet your criteria – your needs and budget. Once you and the Real Estate Virtual Assistant decide that you will be a great fit to work together, an agreement will be forwarded for your review and signature. The agreement outlines the services that the Real Estate Virtual Assistant will perform and what is expected from both parties. The agreement will include the fees, terms, and conditions of the working partnership. Be sure to follow your own advice that you convey to your clients, read the contract and understand all the terms. The Real Estate Virtual Assistant will schedule weekly, bi-weekly or monthly conference calls to discuss marketing plans, new technology and services and business strategies. The frequency is dependent on how you and the Real Estate Virtual Assistant work best. These calls are an important aspect in continuing to build a successful working partnership. Modern technology has afforded a Real Estate Virtual Assistant to work with Realtors. Various types of communication and project delivery methods will be implemented from the obvious to the more obscure: phone, e-mail, instant messenger, fax, remote access, file sharing sites, and project management portal site. Not all of these methods may be used in every working partnership, but a competent Real Estate Virtual Assistant will have a variety of tools at their disposal.