As some of you know, I am co-founder of REVA Academy where we train others to become a real estate virtual assistant. It was during a conversation with one of the students that she wondered if anyone had actually sat down and did the ROI for a real estate agent so that the benefits of a REVA and in office assistant can be compared. I know it’s a question that a lot of agents have as well, so I wanted to weigh in on this since I have experience in both aspects.
I’ve been a licensed assistant in the office for a top producing real estate team and I now own my own real estate virtual assistant company. So here’s the breakdown of a real estate virtual assistant vs an in office assistant.
Benefits of working with a Real Estate Virtual Assistant:
- Has the tech skills agents need to help maintain websites and navigate the social media landscape
- You pay only for time you are using instead of for an 8-hour day
- You are sharing the cost of having an assistant with other real estate agents across the country (on average $400-$800 per month for part time)
- There is no training required because your real estate virtual assistant already has the skills you need in most cases
- No taxes associated with employment
- Services of a real estate virtual assistant are tax deductible
- You don’t pay for sick days or holidays
- You do not have to buy any computers, desktop software, or have office space for your real estate virtual assistant
Drawback of working with a Real Estate Virtual Assistant:
- You will probably never see them face to face
- You can’t walk in the office and drop the file on your real estate virtual assistant’s desk so you have to scan the documents into the computer yourself
- A real estate virtual assistant can’t run errands, hang signs, get keys made, or help with open houses
- You have to be able to communicate via email in most cases
Benefits of an in office assistant:
- She is always there from 9 to 5
- You only have to drop the file on her desk and she will take care of scanning all documents into the computer
Drawbacks of an in office assistant:
- You pay for a full day’s work even if there isn’t work there (On average $900 to 1200 per month for part time)
- In-office assistants tend to have a short shelf life in real estate – they tend to come and go quickly
- You have to train an in-office assistant and re-train every time you have to re-hire
- Most in office assistants are not up to date with how to use the latest technology for real estate
- You will need to supply a computer, printer, desktop software, and office space for your assistant
So what is the answer? When you compare the skills you will add to your team and the lower out-of-pocket expense over a year you are ahead when you choose to go virtual. When you free more of your time each month by working with a real estate virtual assistant you have now increased your potential to list and sell more homes, meaning you will gain in your monthly income instead of lower it. Personally, I believe the advantages outweigh the disadvantages, but the bottom line is what you are comfortable with.
And if you decide after reviewing the advantages and disadvantages of a real estate virtual assistant that you’d like to give it a try, sign up for a complimentary strategy session. We’d love to help you get past the overwhelm, grow your business, and get back to your life.
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