1 Is It Time to Hire An Assistant?Presented by StreamLine Agents
2 Having an Assistant Allows You To:Increase revenue Provide a higher level of personal service Clear up personal time; balance work and play 1. Allows more time for prospecting, showings and business generating activities.
3 Signs You Are Ready for an AssistantYou have notes everywhere with things that need to be done. Can’t find important paperwork within a minute. Find it difficult to spend time with family or friends. Find your business ebbs and flows: There are down times in between clients. You find the little details are slipping notice during a transaction. Your clients are not experiencing the same level of service every time. You have a desire to build your business and bring in more revenue. There is a feeling of disorganization to your desk and/or days.
4 Things to Consider How much volume do you want to produce?How much free time would you like to have? Calculate if your sales volume has hit a plateau. Are there goals you have not been able to accomplish? Are you unable to eliminate busy work, prospect more, or get involved in the community? Then it’s time for an assistant.7 How much is your time worth?
5 What Type of Assistants Are There?Licensed: Showing properties, explaining contracts and other documents to clients, and repair negotiations. Unlicensed: Some marketing, administrative, paperwork, appointments, database management, etc. Virtual: Everything an unlicensed assistant can do. Usually a virtual assistant has more training, experience and a wider range of skills. However, they do not work directly out of your office. Marketing: Specifically focuses on online and print marketing related to branding, prior client follow up, listings and other activities related to building your clientele. Personal: Need someone to run errands and help you with your personal needs? Shopping, dry cleaning, etc. This is an important part of your decision process. What type of help do you really need?
6 What is an Unlicensed Assistant Allowed to Do. (Check with your STATECan set appointments for an agent with already established clients. Can host/hostess open house events. 1 Distribute flyers and brochures. 1 Create flyers and brochures based upon agent directed guidelines and wording. Refer leads from open house event directly to a licensed agent. 1 Make appointments for showings and inspections. 1 Give access to properties to potential buyers. 1 (Please note: What an assistant cannot do section.) Place “for sale” signs, open a property and accompany inspectors. May provide information as already advertised on a property, but only after disclosing he/she is an unlicensed person. 1 Input data into a computer. Type contracts, but only as specifically directed by a licensee. 1 Order supplies. Schedule maintenance. Bookkeeping and office management functions.1
7 What Can an Unlicensed Assistant NOT Do? (Check with your STATE!)An assistant cannot “make calls to determine whether a person is interested in buying or selling property, or has property they wish to sell, and if so, make an appointment for a licensed agent to speak with them.” (Telemarketing)1 Negotiate a listing agreement or contract. 1 Show homes 1 Cannot point out features of a home or neighborhood to open house visitors or prospective buyers. 1 Cannot create wording for marketing a specific property. 1 Cannot “qualify” incoming calls/leads. 1
8 Preparing For An AssistantCreate a job description for your new assistant What things keep you busy and not bringing in new business? Be prepared to train them, teaching your assistant how to do those tasks that you need them to take over. Allow your new assistant to do things differently than you might as long as you are getting the results you are looking for. Schedule regular meetings with your assistant. Set up systems for communication, organization and processes. (An experienced assistant or virtual assistant can assist you with this.) Have a defined system to avoid gaps or overlaps in work. Be sure to look into a confidentiality agreement and/or non-compete agreement. Decide if they will be an employee or independent contractor. Be sure not to ask your assistant to do personal errands for you. They are a professional in their field. If you are looking for someone to run your personal errands, hire someone specifically for that type of position.
9 Assistant Turnover Most common reasons for turnover:Becomes an agent: Assistants can see the commissions and get tempted to do the same for themselves. Can also happen when they realize their personality better fits an agent/sales person vs. an administration type. Pay – Wants opportunity for advancement or feels underpaid for the things they are doing. This is a common issue. The assistant isn’t cut out for the attention to detail needed for this position. Either they will leave out of frustration, or they will be let go. Prefers payroll over 1099 and wants benefits. Lack of communication – isn’t clear on direction from their employer. Lack of delegation. Sometimes it is difficult to delegate and trust a task will be well handled. This will leave both parties frustrated and employment separation will eventually occur.
10 Benefits of a Virtual AssistantNo paid holidays or vacations No employee taxes (ss, medicare, unemployment tax, etc.) No additional office space No additional equipment No employee related paperwork Staff during peak or busy season No training expense No additional software expense Pay a virtual assistant only when you need the assistance No employee turnover No more paying for socializing, lunches, or trips to the washroom One hour of work or 100 hours the virtual assistant is ready and able to work for you
11 The Cost of an AssistantAn employee assistant can cost double and triple their annual salary in taxes, benefits, overhead, etc.4 $13 hourly wage for an employee can equal $20.11 an hour with all the added expenses, plus the greater liabilities. Then there is the possibly of having to replace them if they don’t work out or if they move on to sales or a higher paid position. (Based upon 1,960 productive hours.)5 Virtual assistants generally run between $30 and $70 an hour.6 However, some assistant companies give price breaks for a specific amount of contractual hours per month. StreamLine Agents charges a flat fee so agents don’t need to worry or keep track of hours.
12 Important Key to Success!To create the additional time and revenue you desire by hiring an assistant, it is crucial to manage the additional time you gain from having someone who can handle the details and administrative tasks you used to do. It is important to treat having an assistant as any corporation would. This means having processes and policies in place for them to follow in handling transactions and marketing. It also includes time off, holidays, late to work, etc. Training, processes and then empower them to do the job. If you spend your time overseeing the assistant then you haven’t saved any time. Communication! Keep your assistant in the loop. As they develop into the position, it will help them anticipate your needs and provide teachable moments that are a natural part of the daily business.
13 References www.trec.state.tx.us 3/17/2010Realtor Magazine Online: Types of personal assistants , accessed 4/11/2011 Realtor Magazine Online: Personal Assistant Insights by Robert Sharoff, accessed 4/11/2011. RealtyTimes.com 4/11/ Articles by Greg Herder, Blanche Evans accessed 4/11/2011. Cost of a Real Estate Virtual Assistant. 4/11/2011. Houston Realtors® Information Services, Inc. 2009 Additional References: TRELA (a); ; (b)(11) (b)(26); (1)(a); TREC Rules 535.4, 147
14 Disclaimer This curriculum has been developed using information from publications, presentations and general research. The information is believed to be reliable, but it cannot be guaranteed insofar as it is applied to any particular individual or situation. The laws discussed in this curriculum have been excerpted, summarized or abbreviated. For a complete understanding and discussion, consult a full version of any pertinent law. This curriculum contains information that can change periodically. This curriculum is presented with the understanding that the authors and instructors are not engaged in rendering legal, accounting or other professional advice. The services of a competent professional with suitable expertise should be sought. The authors, presenters, disclaim any liability, loss or risk personal or otherwise, incurred as a consequence directly or indirectly from the use and application of any of the information contained in these materials or the teaching lectures and media presentations given in connection with these materials.