How's Your Real Estate Virtual Assistant business

Is it tough getting RE clients? With the market being pretty terrible, I was just wondering if it's harder to keep/get clients, or has your business grown?

I would think that this is the best time for an agent to take the opportunity to have a REVA, as I believe their business will benefit from it. JMHO

[Your Virtual Wizard]

You are indeed correct! Now is the best time to be a REVA and for RE agents to utilize the services a REVA can offer.

A few of my former RE agents left the biz, perhaps temporarily, due to the slow market but there are many who are surviving due to the increase in their marketing plan. People are still selling their homes and many are buying albeit not at the same rate as before. Some markets are flourishing such as the luxury home market which hasn't been as affected negatively as other areas of real estate.

You can be a huge asset to a real estate agent or broker who has decided to stay the course. He/she can spend more time selling and listing while you handle the details. Even a min of 2 hours of good REVA time creating virtual tours, updating Point 2 sites, updating realtor.com etc. allows them to have more face time with clients and offers sellers tremendous listing exposure.

There might be fewer agents to work with but those who are 'in the game for the long haul' are the agents who can work with a REVA to pump-up the marketing exposure.

You're right...their business will only benefit now more than ever when homes sold nearly sight-unseen.

I'd say that my RE business work remained the same as it was in 2008. I've cut back a few hours this year in RE work but that's OK.

Jan

[B-organized]

Hi!
I just got my first client!!! He is a developer and wants to market his properties, and since I work as an office manager in a RE office, I have lots of ideas and he is thrilled! I am just starting out also and I was also wondering about the market.

[Your Virtual Wizard]

The RE market varies from region to region as I am sure you know. Some areas such as Houston are faring better than say, parts of California or Florida where foreclosures are much higher.

I try to keep up on the market by reading varying online real estate publications. As you work in a RE office, you might have the same access to similar online publications. I ask a lot of questions and I check my RE client stats to see who's looking and what listings are getting the most attention.

I've not worked for a developer but that certainly could be exciting work. Building from the ground-up as opposed to resale is a different type of real estate marketing. I would guess the developer would want you to build an email list, or perhaps a newsletter and report to subscribers on the progress of the development he/she is building.

Good luck and let us know how you do!

Jan

[B-organized]

Will do! He has 14 properties for me to market at this time, and said he will have more in the future. He has already been asking my advice ( I am not charging any additional $ for the info - should I be?)

[Your Virtual Wizard]

Bridget..That's a tough question. Some people will pick your brain for free. You don't want to give your expertise away for zero dollars. On the other hand, information that you offer could lead to work so there is a fine line to walk.

When someone asks me questions about how they can do something that I think can lead to work, I ask them to put it in writing. My response is to give them minimal information that might be useful and then offer to do that work for them.

If your client is asking you to research something, then I would bill for it. If he is asking for advice whether one website host is better than another or which autoresponder might be useful, I give them the basics, along the lines of a consultation and then offer to do the work. At that point, you will know whether they are serious about working with you or are they just there to get what they can out of you.

Sometimes I do favors on my own time, such as seek out webhosts or programmers for my clients. I look at that as a chance to gain more work and an opportunity to improve my client's business. A VA has an interest in the client's business. Anything further, such as a consulation with that programmer or phone calls to a webhost are billable.

You don't want anyone to take advantage of your kindness.

What kind of advice are you giving?

Jan

[MegBarberVA]

Hi Bridget,
First, Congrats on getting the new client.

Next, to answer your last question, it really depends what kind of contract you have arranged with client (retainer or per project) and how much time you are spending dispensing advice and info to this new client. Here are 2 scenarios...

Scenario 1: Person calling just for advice on how to better their business... I had been duped a few times by what I thought would be "prospective clients", only to realize that they were pretty much using me for my free advice. And I mean an hour or so at at time. So I started instituting consultation fees to people who wanted to to pick my brain for beyond a certain time period. Because if I am on the phone for an hour dispensing advice on how to grow their business, and that is time I am not working for my clients making money. So what I do is I usually offer a free 30-60 min consultation to new prospects. But if they want more of my time, then I will charge them and I am very upfront about it.

Scenario 2: A current Client that wants to spend too much time on the phone or in person when consulting or seeking my advice. I cannot have phone meetings or in person meetings for hours at a time like some of them would like to do. Some of my clients could drone on forever. So I usually give them 15-20 minutes without charge, but again, if I am spending an hour or more, than I am going to count that against their retainer time or add a fee to their project.

Did any of that make sense? Sometimes it's easier for me to talk and explain it than type. LOL

Also, if you are doing research for this client to find them this info, then I would also be charging for your research time if it ends up being considerable.

Hope that helps!

[deannatroupe]

Actually I'm getting more inquiries for my business now than I did at this same time last year. Of course I'm also doing a lot more networking than I did at the same time last year.

[B-organized]

This is why I love this website - thank you Jan & Meg for your replies! It really was just basic information ( I am working with him on marketing) but wanted to know what to do if he starts to ask more in depth questions. I do have to make sure that I give away minimal advice - I have a tendency to save the world and help everyone out! I had emailed him a contract - but by the time he got it - he had already prepaid me through PayPal - so we decided to forego the contract. We work well together, so I hope it was not a mistake. This will be an ongoing job, and he said he would prepay me each time. I think I have found a little niche here with real estate developers - I have a lot to offer in the internet marketing world for them.

[Your Virtual Wizard]

Hi Bridget,

I would suggest still having him sign a contract. People do strange things sometimes. And paying personnel is often the first thing to get axed as is evident with all the layoffs going on around us.

I had a client who was very amiable in the beginning but as time progressed it got harder and harder to be paid. She signed a contract so I had this as back-up and when I reminded her of the contract, she paid. I was very professional about it and there were no hard feelings but in some small way it did put a damper on our relationship.

So pleased to hear that he's prepaying. That is really the best way all around. I'm really happy for you and I look forward to hearing more about your work with him.

Jan