Have you been thinking that you need to hire a real estate virtual assistant for your real estate company? Your primary job as a wholesaler is to make offers to sellers, get contracts signed, and assign your most awesome deals to another investor for a profit. There are certainly many other steps that are needed to make this all happen – from generating leads all the way to the actual closing itself. There will definitely come a time in your career as a real estate wholesaler where you’ll want (and need) to hire a virtual assistant to do all of the administrative tasks that are required of a real estate transaction. That is, if you take the business seriously.
I’m a control freak. It was hard for me to give up tasks. I thought that no one could do them as good as me. Yes, I know. It’s egotistical to think that way. But I’m very detail-oriented in my work and a bit of perfectionist. (Who’da thunk it.) It took me more than 10 years of wholesaling to FINALLY come to terms that I could let some of this minutia go. I am SO glad I did.
Freelancer Websites are a Good Option
When you’ve made a decision to hire a real estate virtual assistant, there are a lot of options that you can take. My personal favorite is to hire someone from another country using UpWork.com. I’m sure that the last sentence is enough to piss A LOT of Americans off. I don’t care. It’s the way of the world, my friends. Virtual real estate assistant pricing is much cheaper in the Philippines. If you don’t agree with outsourcing real estate virtual assistant jobs to the Philippines, then filter your hiring criteria for United States candidates only. Just don’t cry to me when they call-in sick, don’t perform the tasks, and are full of lame excuses. Sorry.
So when its time to hire a real estate virtual Assistant (a.k.a. VA) there are many things to consider. I’ll tell you what I know about UpWork.com, and you can decide from there. You may even be able to take the information to another site and find it helpful.
Follow these Steps When Hiring a Real Estate Virtual Assistant:
First, run an ad for a Real Estate Virtual Assistant Job Description or Posting.
Watch this short Jing Video on how to Run a Simple Ad on oDesk to hire a Virtual Assistant.
What does a real estate virtual assistant do? Here is an ad with responsibilities that you can run on oDesk.com when you hire a Real Estate Virtual Assistant:
Hourly Rate : $4.00 – $7.00 per hour
Busy real estate investor/entrepreneur is seeking a personal assistant to help with daily administrative tasks. Training is provided for the right person.
Preferred Skills: some knowledge in real estate, Word, Excel, WordPress, Telephone Skills, Ability to speak and communicate in fluent English, organizational skills, and SKYPE. (for instant communications throughout the day).
Pre-Screening Real Estate Virtual Assistant Applicants
Immediately after posting the ad, you’ll start to get replies from candidates. You have to be careful about these candidates. Most of them haven’t even read the job description and have no experience whatsoever. If you click on each one and read their message, you’ll see what I’m talking about. You’ll get candidates that are CGI Programmers applying for the job as an assistant. I think they must have some software that replies to every job posting offered.
It will take about 3 – 4 days for you to get the majority of the real estate virtual assistant applicants for this job. As you read the application from each candidate, and before you hire a virtual assistant, be sure to review their feedback scores and comments from other employers. Also check their credentials. Choose your favorite ones and put them in your “shortlist” (it’s an oDesk thang). I like to narrow down my candidate list to about 10 people to interview.
Check out this quick video on how I quickly eliminate candidates.
The Real Estate Virtual Assistant Interview Process
Once I have my 10 candidates chosen, I’ll send each one of them a personal message through oDesk (an interview) the very same task. I will have them go to my seller website, and my buyer website and review it. Then, I ask them to record a 2 minute video, explaining what it is that we do as investors, and why someone would want to do business with us. Give them a deadline to complete this simple task. If they can complete this task to my satisfaction, they’ve made it past the first hurdle of idiot elimination (being able to follow simple instructions). This sounds crazy, but 7 out of 10 candidates won’t perform this task. DO NOT CONSIDER THEM ANY FURTHER.
Email to Pre-Qualified Candidates
Here is the email that I send them:
Hi! I am interested in hiring you for my Real Estate Virtual Assistant Position (Real Estate). I would like for you to perform the following task: Visit my website; www.webuyinjax.com .Read through the information that is on the website. Then record a video that is at least 2 minutes long, describing what we do, as if you were talking to a seller of real estate. Tell me how long we have been in business, what kind of houses we buy, why it is better to sell your house to us than to use a Realtor, and what they need to do if they want to sell their house Fast. Then, send me the link to the video to: Please complete this interview requirement by :
April 1, 2019 at 10:00 a.m. EST Thank You.
Your VA needs to Speak Clear English
The reason behind this task is plain. I want to hear their English speaking skills. Do they understand what our business model is? Can they explain it to someone else? If they can do this, then they’re good candidates. They may say something stupid a time or two, and that’s ok. The point is for them to get the basic idea of what’s going on in your business.
Hire A Real Estate Virtual Assistant
Once you’ve chosen the candidate that you think will do the best job, just click on the HIRE button. It will then prompt you to enter the details of the job. For Example: maximum number of hours per week, when the job starts, which team you want this new hire on, etc. Once you hire the real estate virtual assistant, you can start training them right away and assigning them simple tasks.
How Much Should You Pay A Virtual Assistant?
First, let’s talk about currency conversion. You have to understand that when you post an ad on oDesk or eLance, they speak to you only in U.S. Currencies. When you see someone who has responded to your job posting, and is offering to do the job for $2.00 per hour, it’s U.S. currency. When that is converted to Foreign Currency, it’s not equivalent to what you’re thinking in YOUR head. Go ahead and try it now. Do a currency conversion from Philippine Pesos to U.S. Dollars.
How to Convert USD to Peso
1. Go to Google and Enter “convert us dollars to Philippine pesos”
2. Enter 1 (in the U.S.) Section
It will automatically convert the Pesos to 41.09.
Now, to see how that compares to a U.S. dollar, ask Google how much a pack of cigarettes costs in the Philippines. You’ll discover that it costs around 24.50 pesos. in the U.S., a pack of smokes costs about $5. If you compare that to the Peso, you’ll realize that $1 US Dollar paid will spend (in the Philippines) the same way $9 or $10 would in the US.
USD isn’t the Same as Peso
I just got on Skype and Asked my VA (who is in the Philippines ) if she made decent pay. I pay her $3 per hour, plus $100 Bonus every time we close a deal. I’ll just attach screen shots (with her named scrubbed off) showing you her reply. She’s so cute. I love her.
Enrich Yourself With Knowledge
So to answer the question of “How much should I pay a Virtual Assistant”? The answer lies in the conversion of currency. If you hire an American, you’ll pay anywhere from $10 – $20 per hour. Anything less than that and you’ll wish you didn’t). If you’re outsourcing it to someone in another country (Philippines, Sri Lanka, Russia, India), then do a little research about their culture, their currency, and their wages. Pay them a fair rate. Always strive for win-win situations.
To enrich your business, sometimes you must enrich yourself with knowledge.
How to Train Your New Virtual Assistant
If you’re a serious real estate investor, the time will certainly come where you’ll consider hiring a VA (Virtual Assistant). If you’re not sure what a VA is, it’s a person who works remotely and helps you with any and all administrative tasks. Anything that can be done from a telephone or a computer will be outsourced and delegated to your virtual assistant.
Thinking about all of the things that you want your VA to do for you is overwhelming. The business has a lot of administrative work, and you actually work alot more hours than you think. How will you go about getting all the instructions from you to your VA so that he/she can begin their work? Here’s a suggestion (and you can start this at any time).
The next time you sit down to complete ANY task, open a new document in Google Drive. Title the document the name of the task that you’re about to complete. As you go through each step of the task, type the detailed instructions into the document. Include every little detailed part of the task, just like you were typing it for someone in the first grade. Make it EASY to understand. Make sure the directions are CLEAR. Don’t have the curse of knowledge. If needed, take screenshots and include them in the document to help describe what you’re doing.
Create the Training for a 12 Year-Old
Once you’ve completed the task, try sharing the document with your kid (12 years old or older is probably good) and ask them to complete the task, ensuring that they can follow the instructions (more so that you wrote them clear enough for a child to understand), and that they can perform the task without a hitch. If all goes well, then CHA CHING!!! You’ve created your first training document for your virtual assistant.
If you’re planning to hire a Virtual Assistant, start writing these instructions up now. Don’t try to train a VA over the phone!!!!!
As soon as you get one fully trained, they’ll quit, and you’ll have to start all over. It’s much easier to give them access to your Google Drive folder that has ALL of the training in it. They can train themselves on their own.
Tasks for Your Virtual Assistant
You may find yourself overwhelmed with a bunch of “busy” tasks (minutia, as I like to call them), but still not know which ones you can hand over to a Virtual Assistant to take care of. So I’ve compiled a list of various tasks that my Virtual Assistant does for me. Maybe you can get some ideas from this. And don’t worry, it’s ok to let go of these things and let someone else do them!!
- Performs Quick CMA and Full CMA Reports
- Does Text message Follow Up for all Missed Calls on Google Voice
- Researches and Prepares Mailing Lists (Unsafe Structures, Delinquent Taxes, Probates)
- Updates Website with Status of Sold Properties to Pending and Sold
- Confirms that all Google Voice Numbers are working properly (every Friday
- Prepares Contracts and Amendments
Monitors MLS and submits Letters of Intent on a Daily Basis
- Keeps track of Letters of Intent via MLS Offer Tracking Spreadsheet
- Handles Letters to Probate Attorneys
Sets and Confirms Appointments with Sellers and Buyers
- Tracks Marketing Campaigns
- Orders Yellow Letter Marketing Campaigns
Imagine Yourself Outsourcing All Of These Tasks
- Prepares and organizes closings
- Confirms Daily Appointments
- Sends SMS text Message Blast to SMS Subscribers
- Adds New Subscribers (Buyers)
- Processes front End Contracts
- Orders Title Work
- Adds Properties to Website
- Adds Properties to the MLS
- Updates CRM
- Runs Craigslist Ads
- Coordinates Closing with Buyer and Seller
- Requests HUD prior to Closing
- Updates the MLS with Pending/Sold Status
- Communicates with Buyer Regarding Closing
- Files all paperwork in Dropbox and keeps files organized
Should I Let my VA Negotiate with Sellers and Buyers?
If your at a point in your business where you’re automating some or all of your administrative tasks then you’re probably debating whether or not to have your virtual assistant negotiate deals with sellers.
This is a tricky one. Negotiating is a skill that not everyone is equipped with. In fact, most of the best negotiators that I know have extensive training. There’s actually a method to the process of negotiating with people that needs to be learned.
And the business of real estate, Especially real estate wholesaling, all of the money is made while you’re negotiating with the seller. Being able to identify the keywords that indicate motivation and trigger U2 make stronger offers to your sellers takes practice. When you understand that your money is made with the seller and realized with your buyer, a lot of better appreciation for the skill required to negotiate killer deals.
Virtual assistants are an excellent addition to any real estate Business. They’re perfect for time management, task management., closing coordinations, marketing operations, and outsourcing anything administrative (things that can be done from a computer). When it comes to talking to sellers in negotiating deals, I think that is best left in the hands of the investor.
Your VA Needs to Understand Your Business Model
Certain scenarios, of course, that would override my opinion. The virtual assistant would need to have a full understanding of your business and the goal of every phone call. That would even need to understand how much you would need to buy a house for an order to make a profit at closing. My opinion, it takes years of practice dozens if not hundreds of transactions to consider yourself a master negotiator. It’s hard for me to contemplate putting that responsibility in the hands of a virtual assistant and expecting a positive result.
Training a virtual assistant to negotiate with sellers isn’t an impossible task but certainly, one that would have some challenges. Most virtual assistants that real estate investors use today are overseas (most of the time the Philippines). They’re sometimes challenged with an accent. That doesn’t affect the performance on an administrative level, but it certainly could hinder the negotiation process.
Spend Your Time Doing What Makes You The Most Money
There are hundreds of moving parts to a successful real estate transaction. If you can utilize your virtual assistant to handle 95% of those tasks, and spend your time doing what makes you the most money then your business will certainly succeed. The things that make you the most money are simple. Talking to motivated sellers and negotiating killer deals.
You should Negotiate Your Own Deals
So to answer your question”Should you let your virtual assistant negotiate with sellers “? My answer is short and simple. No. Let them do what they do best and let you do what you do best. If you find yourself becoming a master negotiator after a few years, then consider training others on how to become the same. Power Negotiating is a skill that can be used for the rest of your life.
7 Things You Should Know About Hiring a Virtual Assistant
Hiring a virtual assistant is a monumental time in every real estate investor’s life. It means that you’ve gotten to the level that requires the assistance of someone else. Someone who can help you with all of your administrative tasks, help automate your direct mail campaigns, market your properties, and help with closing coordination.
I hired my first real estate virtual assistant 5 years ago, and he is still on my team. I hired him to take care of my Probate campaign, and make sure that I had all of the data that I needed every month and also to make sure that the letters went out. Five years later, he is still on my team. He still does the same task. I consider him an asset.
When you hire a virtual assistant, it is no easy task. In fact, I’ve seen many investors have bad luck choosing the right person to work in their team.
Virtual Assistants are normal people.
They aren’t superhuman. They aren’t robots. They have lives just like we do. They celebrate their own holidays just like we do. They need time to adjust to your way of doing things. Remember that they’re only human, and expect them to make some mistakes in the beginning. Be patient and communicate with your virtual assistant, and you’ll build a relationship that will last a long time.
Learning the Real Estate Business isn’t simple.
Try to remember how it was for you once you got started in the business. Was it overwhelming? Yes, it was. Now imagine trying to jump right in the middle of things, and be expected to handle administrative tasks and get things done without having any knowledge. When you hire a virtual assistant, provide them with some information on the type of business that you’re in, what your business model is, and what type of work he/she will be doing.
A $5.00 (USD) hourly wage is good income in the Philippines
When you hire a virtual assistant in the Philippines, don’t feel bad for paying your Philippine Virtual Assistant $4.00 – $7.00 per hour. The cost of living is much different there, and $5.00 (USD) goes a long way. If you’re planning on hiring a U.S. assistant, then you can expect to pay $15 – $20 for decent help.
Your Real Estate Virtual Assistant can do anything that can be done from a computer
They can also do the tasks as well as you can, given enough time and training.
When you hire a virtual assistant, you MUST be patient and willing to train your new real estate virtual assistant
Adding a virtual assistant to your team is one of the best decisions you’ll ever make. Understand that you’ll have to be patient and understanding while your new V.A. is learning the ropes. As with any new employee, they need guidance from you. Don’t be the dickhead that fires them over one or two mistakes. Instead, review your instructions and make sure that they’re written with clear and exact information. Most of the time, the problem isn’t them at all. It’s you.
All of your training material should be in written and video format
This rule applies whether you hire a virtual assistant to handle one task for you, or to manage all of your admin tasks. They need written and video format instructions and tutorials. This is the BEST practice for anyone considering this. When you’re preparing the instructions, don’t have the “curse of knowledge”. Write each step of the process in full detailed instructions, so that your virtual assistant has a reference point. He/she will need something to refer to if they’re brand new. Also, if you have to replace your virtual assistant in the future, you’ll already have the training instructions available. Think of it as an employee training manual. Invest your time in creating this manual and thank me later.
Show appreciation to your virtual assistant
If they’re doing a good job for you, give them a bonus. If you close a real estate transaction and make a profit, give them a bonus. Or give them a bonus just for putting up with you. $50 – $100 is a good sized bonus and it makes them feel like they’re appreciated and a valuable part of your team.
Cut Through The Chase and Hire a Virtual Assistant from Property M.O.B.!
Maybe a pre-trained Real Estate Virtual Assistant is what you’re looking for! Property MOB has exactly what you need. Trained by us specifically for real estate investors with affordable hourly rates, you can’t go wrong when you hire one of our real estate virtual assistants.
Property M.O.B. specializes in wholesale real estate investing, coaching, mentorship, real estate marketing, and automation that save you time and money. If you want to learn about how to invest in real estate or how to hire real estate virtual assistants, we are your #1 go-to source.