The Business of Real Estate
5 Tips for Hiring a Virtual Assistant

5 Tips for Hiring a Virtual Assistant

By on Oct 8, 2019 in Uncategorized | 0 comments

The work of a real estate professional is full of time-consuming tasks and long delays between the closing of a deal and an actual payout. It’s estimated that for most deals, the time elapsed from contract to close averages 50 days. The pressures on time can make it hard for agents and Realtors to find their feet, with more than half of agents making less than $42,000 annually in salary and bonuses as a result. Especially in real estate, which employs so many “solopreneurs,” this situation cries out for a solution that, fortunately, is readily available to the modern-day business: Virtual Assistants — administrative support workers who do their work as online contractors. How do you go about hiring a Virtual Assistant? Here are several useful tips that help you get the most out of this emerging trend in the online marketplace. 1. Identify the Tasks You Need to Delegate There are a number of different methods you can use to work out the tasks you need to outsource. You can simply take the sticky challenge, writing down all the activities you undertake in a typical day and identifying how much time each of them takes. Which of these things are part of your unique skill set, and which can you delegate? If doing all of this with stickies sounds too messy, you can accomplish the same task with a spreadsheet or a scheduling app like Toggl. The specifics don’t matter as much as the exercise, which will help you identify where a Virtual Assistant can make the biggest difference to your business. 2. Put Together the Job Details Once you’ve identified the tasks you need help with, you can budget for the position to make sure you know what rates you can afford and put together a job description. It should specify the number of hours your VA (Virtual Assistant) will need to work in a week (and for what pay), bullet-point the particular tasks they’ll be carrying out and specify what skill sets and training would benefit them. It’s also a good idea to put together the minimal tech specs they’ll need to interact smoothly with you, e.g., whether you expect them to have a functioning webcam...

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Four Things to Clarify for First-Time Home Sellers

Four Things to Clarify for First-Time Home Sellers

By on Sep 20, 2019 in Uncategorized | 0 comments

If you’re representing the sellers in a real estate transaction, you’ve probably been schooled in many of the basic steps you need to take to sell a home. The need to price the home right from the outset, to be on the top of your marketing game, making sure communication is happening and that paperwork, negotiations and appraisals are properly taken care of: All these things are basics that good agents will be familiar with. Nevertheless, there are elements of the transaction that sellers — especially first-time sellers — may need clarified that even an experienced agent may find it good to periodically remind themselves about. 1. The Best Time to Sell Depends on Their Circumstances Some sellers may come to the transaction with fixed notions about what season is the best to advertise their home. It’s often recommended to sell in the spring, when sellers are likeliest to get top dollar for their home. On the other hand, some sellers may benefit from a market in which all but the most serious buyers have been filtered out, when there’s less competition, or if they have a home that particularly benefits from being staged for the holiday season. A good Realtor will be up to the challenge of selling in any season and can guide clients to the timing that’s best suited to their local market and specific property. 2. The Home Doesn’t Have to Be Perfectly Show-Ready to Sell A lived-in home is, by its nature, not a flawless show home. While it’s important for sellers to stage their home for sale and do what they can to paint, repair and de-clutter it — endeavors that of course a quality Realtor can provide crucial help and guidance with — on the other hand, trying to erase any evidence of children, meals or daily activity is going overboard. Buyers are focused on what they have planned for the space, not on the minor details of what the people currently living there are doing. The key thing for sellers to do is provide as much access as possible in order to be competitive. (The major exception to this is pet smells and dander. Nothing can deter potential buyers quite as...

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How Realtors can Benefit from Commission Advance?

How Realtors can Benefit from Commission Advance?

By on May 31, 2019 in Uncategorized | 0 comments

Closing a real estate transaction is a time-intensive process that can create havoc with the cash flow of businesses. Without sufficient cash flow, operating a real estate business can be quite challenging. In such cases, with a real estate commission advance can prove to be an effective way to ensure that your business is stable, and liquidity is maintained. Listed below are some benefits of a real estate commission advance: Grows Your Business Consistent cash flow is important to ensure growth of your real estate business. With a commission advance from Commission Express™, you will no longer need to wait for the transaction to close, helping you keep your business up and running, further enabling you to maintain a positive cash flow. Improves Cash Flow Expenses are a part of every business, and your real estate business is no exception. However, the delays in getting your commission can prevent you from meeting those expenses. With a commission advance from Commission Express™, you can easily ensure your business can meet those expenses and maintain your momentum. Cost Effective One of the biggest challenges many real estate agents face is a delay in receiving their commission. This is where a commission advance can help you more quickly implement a new marketing program to take advantage of a new hot market. Invest in your Business Using commission advances from Commission Express ™ not only helps you ensure positive cash flow; it also gives you the opportunity to invest in growing your business by hiring and building a team to assist you. If you are looking for a reliable commission advance company, Commission Express™ is your right partner! Get in touch with them today to easily get the cash flow management tools you need for...

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Managing Cash Flows

Managing Cash Flows

By on May 1, 2019 in Uncategorized | 0 comments

Your goal as a realtor is to win the biggest commission you can. This is easier said than done. There are countless items that must be addressed while in the real estate business. This must also be balanced with the looming threat of not knowing where or when you next pay check will be coming from. This carries a lot of risk, but the potential is there to win it big. Average Real-Estate Agent Salaries As a real estate agent your commission varies based on a number of factors. Anything from your contract with the brokerage firm, interest rates, consumer confidence, inflation and so much more. As you can see a lot of these factors like interest rates and inflation are out of your control.So, you must do everything you can do to increase the factors within your control. First and foremost, you must negotiate a good deal with your broker. If this is not addressed first no matter how well you do you will always be paid based on this level. So don’t sell yourself short and provide evidence as to why you deserve a higher commission rate. Some other factors in your control are associated with what region or regions you wish to practice in. There are two schools of thought on this point and both have their weaknesses and benefits. First you could target more upscale properties. This will win you a larger commission per sale; however, it comes at the cost of less volume and you may go some time without any new sales. If your good at managing your money and would prefer to focus more energy into your projects this may be the route for you. The second way to determine what region you wish to practice in is to target properties that have a lower sales price and work on selling more of them. Per sale your commission will be less but if you sell enough of them you may be able to make up for this lower sale price. You also may find this to be a less congested market to enter, giving you a better chance to take control of certain regions. On average though the brokers earn about 6%...

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Riding the Marketing Trends of 2019 to Success

Riding the Marketing Trends of 2019 to Success

By on Jan 29, 2019 in Uncategorized | 0 comments

As we enter what promises to be a complicated and challenging year for markets, having an up-to-date game plan for success is more important than ever before. The key is to set achievable goals, break them down into manageable steps and execute them — all without burning yourself out in the process. If that sounds easier said than done, the good news is that many of the major marketing trends in the coming year will ultimately save you time, energy and money. 1. Automate Your Processes Automation is probably the single biggest labor-saving story that will unfold in real estate in the coming year. With text messaging campaign organizers, automated email drip campaigns that can target specific preferences and chatbots that can gather basic information on your web page and on social media, you can outsource basic marketing tasks in ways that free up time for high-level engagement and lead conversion. Marketing analytics tools can also help with the crucial step of tracking your marketing ROI. 2. Add Value With Your Content Exposure is important, but adding value with content that authentically reflects your interests and your connections to the local community is the real key to effective marketing and lead generation. If you have “hyper-local” interests — particular bike paths, a picturesque walking tour, favorite small cafes you can cross-promote with — they can make for great website content or social media posts. You can showcase your overall knowledge with informative profiles of neighborhoods you work in. Or you can help prospective buyers and sellers navigate the network of local lenders and state- and municipality-specific regulations. 3. Use the Combination of Formats That Works Best for You The last few years have seen widespread recognition of the power of video in marketing. Notwithstanding that some social media platforms have since been caught using faulty metrics to measure the usage of video on their platforms, there is still no denying the considerable connective power and immediacy of video. It’s a popular choice of successive influencers and marketers for good reason. That said, the “text versus video” debate is misleading in some ways and tends to downplay some genuine advantages of text for certain customers. There are inevitably some people...

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