Industry Secrets: Recruit & Retain Agents using a Virtual Assistant
Want the “secret sauce” to attract & retain the highest quality agents for your team? Learn the insider secrets to top-quality teambuilding from today’s special webinar guest, Long Doan!
Long is the Founder, CEO, Broker & Co-Owner of Realty Group, one of the fastest-growing real estate brokerages in Minnesota with a headcount of over 350 real estate agents. He’s been in real estate for over 25 years, with a proven track record in top 1% agents and experience from closing over 1,000+ transactions in his first 4 years. His team also made it to the TOP Real Estate brokerages list from REAL Trends.
Long Doan breaks down the strategies that he uses as a Broker to attract Real Estate Agents to his business (Recruit Agent) and provide services (Retain Agents) using a Virtual Assistant. Long is the Founder/CEO/Broker/Co-Owner of Realty Group, and he has perfected the art of Recruiting & Retaining Agents. He’ll break down how he’s done that for ¼ of the cost of other brokers while also seeing more than a 4x return on his investment.
Why should you watch it? Long has grown from 8 to 350+ agents in 5 years and become the #1 real estate broker in Minnesota (and #118 in the USA) in the process. He’s mastered the art of team-building and shares his secrets with you today!
Why hire Virtual Assistants?
In Long’s business, outsourcing works. He says, “We’re very selective about who we take on – we hire highly productive agents, and they need support. We wanted to be the brokerage we needed when we were agents. So we need to be able to provide that support and keep our costs down. If we don’t provide that support, our agents leave us with very high retention rates. Virtual assistants give us the ability to provide this environment for our agents.”
Long’s Virtual Assistants are treated like on-site team members. They are included in their daily huddles and are valued just like any of their on-site staff. The fact that they don’t require office space and are just overall more cost-efficient and because of how the set-up works, he finds that they are also extremely productive and efficient in doing what needs to get done for their business to thrive.
“We discovered that our in-house task support was too expensive & not very productive, so we outsourced it to MyOutDesk Virtual Assistants —they save money on office space & work remotely, so there are fewer distractions, they’re more focused, well educated & very talented. Financially & productivity speaking, it’s much better for our business.”
Realty Group onboards their VA’s by starting with a flowchart of tasks categories to be accomplished. They determine which of their VA’s has the talent to be efficient at those tasks and train each VA on the systems they use and the business processes they’ll be using daily.
For Long, this is all part of a long-term business growth strategy. He says, “We’re experiencing a market shift, and we’re running a business. So we have to watch profitability, efficiency, and growth, not just to survive but to thrive in this changing environment.”
“Consumer behavior is changing, Netflix wiped-out Blockbuster, Expedia is dominating the travel industry, people prefer services like Uber and Lyft, and 75% of people shop online. People are still shopping, watching movies, getting rides, and traveling, but they are doing it differently. Likewise, people are still buying and selling homes, but they are doing it differently.”
“As these things shift, so do the margins of your commission. So how do you grow a business without sacrificing your quality of support and service? We discovered that hiring Virtual Assistants is one of the strategies you can use to stay ahead of the curb—more than 2/3rds of our staff are Virtual Assistants.”
In Long’s opinion, if you’re serious about Real Estate, you absolutely should hire a Virtual Assistant, regardless of the size of your business. If you do not need one full-time, then find another agent or agents to share one with. He believes that if you don’t have an assistant, you are one, and the costs of a Real Estate Virtual Assistant greatly outweigh the value that they can bring to you and your business.
True business owners should constantly be working on your business and not in it. You need to find a way to be the “laziest” person in the world and find ways to delegate the areas of your business that do not necessarily have to be handled by you. Long says that a Virtual assistant can do about 80% of the tasks in your business!
“Systems run businesses, and people run systems. MyOutDesk works for us because our VA’s come pre-screened, pre-trained. They’re highly motivated, and they work hard. So far, our revenue has increased about $350,000 a month, THAT is a return on investment.”
The new local is global. As long as someone can be trained and execute your systems, it will work; it doesn’t matter where they are. Know what tasks you need to delegate and know them clearly. This way, when you hire someone, you know what to teach them to be effective. Lastly, know what type of personality and skillset you need and hire someone that fits those needs.
Long’s recommendation on VA’s? “If you’re serious about Real Estate, then you absolutely should hire a Virtual Assistant, regardless of the size of your business. If you do not need one full-time, then find another agent or agents to share one with. If you don’t have an assistant, you are one, and the costs of a Real Estate Virtual Assistant greatly outweigh the value that they can bring to you and your business.”