Starting a REVA business - lots of questions

Hi all,
I've been lurking around the forums for a while and am tossing around the idea of becoming a REVA. I am a licensed real estate agent and currently work in real estate administration for a top company, but would love the flexability of working from home. I was wondering if you more experienced VAs could help me out with some of my questions.

How much do you usually charge for your services?
How many hours per week do you usually work?
How did you start your REVA business? How did you find clients?
Do you find most of your clients are local or out of your area?
What contracts do you use for your services (found some on the VA chamber of commerce website, but not sure if they work for REVAs as well)?
How long did it take you to build your clientele?
Do you find being a REVA provides you flexability when you need it, especially with kids?
I am currently making about $30k per year and need at least that to pay my bills each month. Do you think I could make this income as a REVA?
What services do you find yourself providing the most of (marketing, listing or transaction coordnation, contact mgmt, etc)?

I know, lots of questions. Thanks in advance for helping me out!

[Write Associate]

Hi there,

I'm not a REVA, but I just wanted to jump in and say, first of all, welcome to the forums!

Second, the amount of money you make is up to you. It's directly related to how much you charge per hour, how many hours you want to work each week, and how hard you're working to get clients who will pay you what you deserve.

If you want more detail about becoming a REVA, I would highly recommend checking out The First Real Estate Virtual Assistant Handbook by Kim Hughes. There's a link off on the right side of this page. It has tons of useful info specific to working as a REVA. Be watching for a full review of the book within the next week.

Best of luck to you!

[deannatroupe]

Hi lashby.
I'm a REVA and I can answer some of those questions, but a lot of what you're asking depends on where you live and the real estate market in your area. It can take a while to build a lucrative practice especially if you don't have any type of credentials proving that you know what you know. The services you offer really depend on you and what you feel comfortable doing. I posted a link on another thread to a listing by state of what an unlicensed real estate assistant can do. When I find the link, I'll post it here. The best thing you can do to learn is to stick around here and read all of the great information on this forum.
Good luck to you!

[CreativeAgentVA]

How much do you usually charge for your services?
How many hours per week do you usually work?
How did you start your REVA business? How did you find clients?
Do you find most of your clients are local or out of your area?
What contracts do you use for your services (found some on the VA chamber of commerce website, but not sure if they work for REVAs as well)?
How long did it take you to build your clientele?
Do you find being a REVA provides you flexibility when you need it, especially with kids?
I am currently making about $30k per year and need at least that to pay my bills each month. Do you think I could make this income as a REVA?
What services do you find yourself providing the most of (marketing, listing or transaction coordnation, contact mgmt, etc)?

Hi Lashby,

Welcome to the forums, and congrats on becoming a REVA! As a licensed real estate agent you are well on your way. I've been a PREVA for about 5 years, started out part-time, then filled up my practice to a nice level. You can earn $30,000 but it will take some time to get there, but don't get discouraged. You never know how fast it can happen, and it could happen FAST! I will try to answer your questions for you.

How much do you usually charge for your services? It depends on the service or combination of services, but standard hourly rate for me $XX, and goes up from there.

How many hours per week do you usually work? I set my hours according to my needs at the time, and to answer two questions, yes, it is a flexible situation for kids. Most of my turn around times are 24 hours, so that gives me flexibility in life and to handle my full client load.


How did you start your REVA business? How did you find clients?
I started off as a marketing assistant for a top producing team, so luckily was already working when I decided to open up shop on my own. I did a lot of research on forums, put together a business plan, and well, just jumped in with both feet. From there most clients came from referrals, and online networking.

Do you find most of your clients are local or out of your area? I am about half and half. Initially my clients were local, referrals were local, but the client list is now mostly in other time zones.

What contracts do you use for your services (found some on the VA chamber of commerce website, but not sure if they work for REVAs as well)?
Those contracts are a great starting point, however its best to work with an attorney to really make sure all the i's are dotted and t's crossed so that you know you are protected. Its also best to have your policies and procedures set-up before hand so that you know how to handle situations should they come up.

How long did it take you to build your clientele?It took me about 1 year to get comfortable with my business, my client load etc. There is not a shortage of real estate agents, so the more energy you put into providing professional services and business, the word will get out. Its really all up to you.

What services do you find yourself providing the most of (marketing, listing or transaction coordination, contact mgmt, etc)?
I believe there is a ton of business to be had in all areas of real estate. Many VAs are busier than ever helping clients with REO properties, and BPO's. However, I find its best to pick an area that you find the most enjoyable, and specialize in that area, rather than just be mediocre at all services. I specialize in Listing/Marketing Coordination and am happier doing that than the others.

I hope I was able to answer some questions for you! All my best!

Laura Monroe, PREVA
Creative Agent Solutions.com

Thank you all for taking the time to respond! It sounds like I should start putting my ideas to paper, and this gives me the encouragement to start. I have taken a look at Active Rain but have not joined yet. Looks like there's a nice group of REVAs over there, and I love reading the blogs.

I think the only downside to me starting my own REVA business would be the wages in my area. An agent can hire an assistant PT for $10/hr around here because the pay in general is low in my area, especially in administration. But, it might be worth a shot to start PT and see where it goes...

[kimhughes]

Hi Lashby,

Welcome to the Forums and what Laura has offered is invaluable.

My advice is do not compare yourelf to an on-site assistant.
Open the boundaries - I have clients nationwide and non in my local market. They could not afford me. LOL!
If you want to start off local that is great, but don't stop there.

Good luck and keep us posted on your success.

[Naoma]

Lashy - good luck...I am working on getting started as well!

[deannatroupe]

Here is the link to what an unlicensed assistant can do:
Listing By State Of What An Unlicensed Real Estate Virtual Assistant Can and Can't Do
There are some states that aren't listed on this site. If your state is not listed here, try googling the question what can an unlicensed real estate assistant do in (whatever your state is) and see what you can find.

[Lelia5]

I recently decided to become an REVA as well, and lashby's were exactly what I was planning to ask, so thank each of you for answering my questions as well.

[charlenekw]

Same here. Just starting out. Has anyone seen a change in their activity level with the recent market changes?