Ready to learn a secret technique so powerful that it will catapult you past the competition and make you the #1 go-to real estate professional in your market? This isn’t a trick or gimmick: we’re talking about the single most important differentiator between the top agents in the country and your average REALTOR®.
Now that we’ve got your attention, here it is: you need to understand & apply the principle of leverage in your business. According to a survey of Realtors around the country, “Only 22 percent of real estate agents work fewer than 30 hours a week — nearly half (49 percent) work 40 hours or more. Furthermore, over half (53 percent) say they work the same hours or more extended today than they did their first year.”
The average REALTOR® makes around $40,000 a year – and yet they’re working harder and putting in longer hours than ever before to stay afloat. The reason is that they’re not leveraging their strengths by delegating repetitive, non-specialized tasks to subordinates. Instead, they’re chugging along, trying to do it all themselves – while simultaneously missing opportunities for new listings & sales because they’re playing catch up on existing deals.
Further findings showed that:
- Of all the activities and practices agents spend time on, marketing and advertising take the most of their time. Sixty-two percent of agents said they spend at least an hour a day marketing themselves and their listings.
- The second activity that took the longest was prospecting and lead generation. Sixty percent of agents said they prospect daily, more than a quarter of them (26 percent) dedicating several hours a day to finding new leads.
- In third place: showings, appointments, and travel. Half of the agents said they spend at least an hour a day offsite or on the road.
- 58 percent of agents said they spent most of their work hours at the office, while 28 percent spent more time on location at showings and other functions.
Utterly dominate your market with a MyOutDesk Virtual Assistant. Book your Double My Business Strategy Session today to find out how!
As the data shows, most agents spend the least time on what they should be doing the most. This is the reason so many Real Estate businesses have a difficult time scaling. Real estate professionals spend so much time working IN their business, handling all the daily busywork that they neglect to work ON their business, which requires them to focus on their revenue-generating activities.
So how can you utterly dominate your market when your day-to-day alone utterly dominates you?
The key is not to work harder but to find people to delegate to. When a billionaire decides to buy a sports team, they do not spend time worrying about what they need to do to help the team win; they focus on finding people like coaches and trainers who can lead them to victory. When you reach the point where you want to grow your business, you can no longer wear all the hats, and you need to pass a few along and spend your time making connections and closing deals.
Hiring someone like a Virtual Assistant is not some magic fix. It will require you to create systems and processes and to spend time training your hires. It may sound like a lot of work, and to be perfectly honest, in the beginning, it will be. However, it would help if you kept in mind that you stand to gain more leverage in the long run.
Here’s how to UTTERLY DOMINATE your market with a Virtual Assistant:
First, determine your pain points- Find out the areas in your business that you need help. Identify the responsibilities that take a lot of time but can be accomplished without your involvement. Take time to list these down, and you have the foundation for a job description.
Build your processes around your systems- Take time to write down or record videos of you doing the daily tasks you plan to delegate. Creating a step-by-step manual will be a great benefit to your business because it can be used repeatedly as your team grows. Just be sure to keep them updated.
Find perfect matches– Now that you have determined your needs and created your job description, make sure that you find perfect matches not just for the responsibilities you will delegate but the talent that matches your own and fits into your office culture. The best part about hiring virtually is that your options are no longer limited geographically, so you have a broader pool to choose from.
Set Expectations- When you find your perfect match or matches, set goals and make your expectations apparent. This way, your Virtual Assistant knows what they need to do and how to do it. Be specific. For example, if you hire a Virtual Assistant to be your Real Estate ISA, tell them how many dials they are expected to make in a day and how many appointments they need to set in a week.
Train- Yes, you have created your process manuals, but you need to sit down and train your virtual assistant. One worry many Real Estate professionals have is that their Virtual assistants won’t be able to do the tasks as well as they can, and they won’t if you don’t take the time to train them. So keep in mind all the hours you will save in the future by taking the time to train your Virtual Assistant well.
Provide Tools for Success- Ensure that you do not cut corners in providing the best tools for your Virtual Assistant and, subsequently, your business’s success. This doesn’t mean you have to purchase every program and all the expensive software out there. It only means that you need to ensure that you have everything you need for your team to function optimally.
Accountability- Aside from setting goals, you need to have some system set up to ensure that your team is accountable for all their responsibilities and time. Setting up something like this will not only ensure that your team is always contributing to your accomplished goals, but it will give you peace of mind as well.
Communication- when you have a virtual team member or members, communication is vital. First, you need to find a platform or channel that works best for your business; in fact, more than one is best. Include your Virtual assistant in meetings and calls, send them emails and text messages, whatever fits your management style. Second, be sure to make an effort to communicate consistently. This is how you build relationships with your team. Let them know you are open to them interacting with you as well.
While this may seem overwhelming, and we know it can be, the best news is that we can help. MyOutDesk can assist you in finding the talent, training, and everything else on this list so you can be well on your way to dominating your market. All you have to do is book a Double My business Strategy Session, and one of our specialists can tell you how!