[Question] New to Forum and Relatively New as a Real Estate Virtual Assistant

[WorkingWithYou]

I just started a virtual assistant job last December. It's hard to believe how much I have learned since then and know that I have a lot to learn. This little juggling smiley face is how I feel many days.

Can you tell me what a decent starting hourly wage would be? My first two agents pay me $8.00 an hour. This seems low, especially as I become more skilled in building their Z57 sites and working with TopProducer. At the same time, I am happy to have work in the current economy.

[WorkingWithYou]

I was really hoping that someone would answer this. I did look at a few threads and found one REVA who works for $25.00 an hour. If this is so, I may have been taken advantage of when I agreed to do that work. Can someone give me just a bit of advice on this? I would appreciate it.

[Your Virtual Wizard]

Hello Working with you,

There are numerous threads asking about rates but discussion about rates is discouraged here. Here is a good thread about rates, although this is not for REVAs. There is a some good advice, though.

Try to keyword 'rates' in the search and see what you get.

I will say openly that your rates is quite low. After you pay taxes and expenses, you will have made only a few dollars per hour.

You need to set your own rate and stick with that. Find out what you want to make, how many hours you want to work, deduct taxes, expenses and you will come up with a good starting figure.

Check out other REVA sites and see what they charge as well.

Janine

[WorkingWithYou]

Janine,

Thank you so much. While I was unaware, I apologize for discussing rates when it is discouraged, but appreciate your help. I will read that thread.

Thank you again,
Janet

[A Lynn Virtual Assistant]

I agree, your rates are too low. View other REVA sites or call to inquire what their rates are. Get paid what you're worth.

I wish you all the best.

[WorkingWithYou]

Thank you. I appreciate your input. Janet

[executive_assist]

I'd be happy to discuss current REVA rates with you at any time via phone I would also suggest you get the book 2 Second Commute as it has some nice survey info in there on rates. I remember how frustrating it was first starting out and having no idea what to charge.

[reneeshupe]

Consider this when deciding what you should charge....you are in business for yourself and ultimately need to pay for everything, this includes your business taxes, office supplies, equipment etc....

Once working that in, it doesn't seem like the rate you are currently charging will cover such expenses and still provide you a profit. Remember, you are in business for yourself and no longer an employee and those that you choose to work with you should pay you for your expertise.

I'd suggest doing a search for "How to determine my rate" and I'm sure you'll find many references that will help you determine what you should be charging.

Good luck!

[WorkingWithYou]

Thank you, Serita, that's a very kind offer and one that I will definately take you up on. Determining rates when first starting out as a VA is frustrating. On the one hand, I need the work right now and I know it's good to have employment in these hard times, and on the other hand I don't want to be taken advantage of because of this.

And Renee, I appreciate your suggestion to do a search on rates. I definately need to rethink this so that I know what I'm talking about when I speak to the people that I do work for.

[Your Virtual Assistant]

It is difficult to determine what your hourly rate should be and still remain competitive.

I owned a brick and mortar business prior to becoming a VA. You do need to take into account ALL of your business expenses and then decide how much of a profit you want to make after expenses. Everybody's situation is going to be different when it comes to calculating a profit margin (ie., your living expenses might be higher than mine.)

Don't sell yourself short when it comes to determining your hourly rate. Clients know they are getting an excellent bargain hiring a VA over an employee.

Best wishes in your business.