Virtual Assistants – Are They the Antidote to the Challenge of Time Management?

May 13, 2022 melissa Real Estate Comments Off on Virtual Assistants – Are They the Antidote to the Challenge of Time Management?

Virtual Assistants – Are They the Antidote to the Challenge of Time Management?

If you’re starting your real estate business, you also probably have a separate day job. If you’ve been doing real estate full-time for a while now, you may not have a day job anymore, but the work is just as much, if not more. But what if you’re working on your real estate business full-time but also have other stuff in the background? How do you deal with all the job that needs to get done? (Imagine having a family on top of all that too!)

The points below are from the 27th episode of The Real Estate JAM, where we talked about our experience with building a team, stories about hiring, and how we navigated the COVID-19 lockdown situation back in 2020! Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.

Virtual assistants definitely come to mind when talking about time management in the real estate investment space. You’ve likely heard successful people (even outside of the real estate niche) that let their assistants “handle it.” And that’s because VA’s (virtual assistants) truly enable business owners to have more time to deal with more important things. When running a multi-million business, do you still need to do small tasks like data entry and accounting? Probably not, but it really depends on your circumstances. In your case, is it worth hiring a separate person to do all the work?

However, VA’s aren’t necessarily a guaranteed success. Melissa shares that she’s had little success with them, at least at the time of recording this episode. In the past, we’ll hire someone to work on various tasks like lead generation and acquisition, but even with proper training, things somehow really didn’t work out that well. We tried to do things differently, but it’s also a good idea to stick with what works. And what has worked for us so far is going with in-person specialists.

 

Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.

 

Outline of the Episode:

  • [02:52] Imagine the stress of working on a full-time business while also having separate careers on top of having families. Too much, right? Melissa shares how they’ve tried to deal with this problem by hiring VA’s.
  • [06:21] Where do you find people to hire? Facebook’s a great place to start, but you might find it better to get yourself a higher qualified pool of people. JD shares some challenges he’s experienced from bad employees. Where can you get that higher qualified pool of people?
  • [12:12] Is oversharing or being too open with people affecting your attrition rate?
  • [15:04] A quick summary of the things you should do to hire better people. Hire on multiple platforms, get (and call) references, don’t set high expectations early on, and get “shiny star” applicants ASAP if you find one.
  • [21:39] Another life-changing book other than Rich Dad, Poor Dad. 
  • [27:03] Get a glimpse of how the team struggled through the first few weeks of COVID-19. You might already have been used to it by the time you read this, but it’s still interesting to learn how a company can move through unprecedented times!

 

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