There was a time just a few years ago when a person could obtain a real estate license, sit at an open house, and very possibly sell said house – all in the span of a week. The downturn in the housing market has been a game changer, and Realtors now have to market and network more than ever to keep a steady stream of business flowing.
In order to be successful in real estate, a Realtor needs an assistant. I’ve sold real estate – without an assistant – and I didn’t get very far and I certainly didn’t make enough money to justify all of the time that I poured into my efforts.
I have more recently assisted many Realtors as a Virtual Administrative Assistant (commonly referred to as a Virtual Assistant or VA) and I have watched every single client soar. Realtors (not their assistants) are solely responsible for the failure or success of their business because only they can ultimately generate income by closing deals. The role of an assistant is to put their client in a position to be successful. Here’s how:
Assistants take care of the work that doesn’t generate any income. A Realtor needs appointments scheduled, thank you notes mailed, property searches done, bills processed on time, receipts entered, flyers made, paperwork processed, and the list goes on and on. Any Realtor that is carving time out of their day to do these tasks is not meeting their productivity – or income – potential.
Assistants are the passive eyes and ears. As a Realtor, you spend most of your day out on showings, meeting with clients and potential clients, drafting real estate contracts, and attending closings. Meanwhile, back at the sales office or online via the Internet or email, important information is flowing. You may not be online to read about the brand new listing in your office that is perfect for your client, but your assistant likely will see it and alert you, schedule a showing for you, and alert your client of the promising news – all making you look like a star.
Assistants will do it better and faster. When it comes to the administrative needs of a Realtor’s business, an Assistant will create or process whatever needs to be done more efficiently. The way that the Realtor is the sales expert, the assistant is the support expert.
What is your time worth? This is a telling exercise on many levels. A Realtor needs to break down their hourly fee to help them realize that their assistant will get the general business taken care of for less money than they would (theoretically) pay themselves.
Always Be Closing. Remember the classic Mamet play: Glengarry Glen Ross? The motto in the office was: Always Be Closing. The only way a Realtor can Always Be Closing is if an assistant handles “everything else.”
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