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According to Allwork.space, the demand for virtual assistant jobs is “set to grow by $4.12 billion” in 2023. The industry has grown in popularity and the COVID-19 pandemic also acted as a catalyst to create a shift in the way we work.
As more people began working virtually in many fields, the real estate industry joined the list that has so far benefited. With this growth comes the need for support.
If you’re interested in being a virtual assistant or you’re deciding on your niche, being a real estate virtual assistant is an excellent choice. You get the opportunity to support professionals in a vibrant industry.
In this blog post, we’ll discuss the roles real estate virtual assistants play and how you could be a part of this in-demand type of virtual assistant.
Who is a Real Estate Virtual Assistant?
A real estate virtual assistant, commonly known as REVA, is an independent contractor who offers a range of services to real estate professionals and companies. Services include managing listings, coordinating appointments and showings, responding to emails and phone calls, managing social media and online marketing campaigns, preparing documents and contracts, conducting research, and managing databases.
Why are REVAs in High Demand?
Picture this scenario:
Sarah is a successful real estate professional. Balancing administrative tasks and client interactions has become challenging and it is negatively impacting her ability to provide excellent service. Feeling stressed and realizing the need for assistance, Sarah decides to hire a REVA. Her new help takes over managing emails, updating listings, scheduling appointments, and conducting market research. Now that her workload is lighter, Sarah can focus on clients, networking, and closing deals. Her REVA has become an invaluable partner, helping Sarah regain control and deliver exceptional service.
After hearing Sarah’s story, do you understand why REVAs are in high demand?
Sarah represents many other real estate professionals who need a team member to handle the repetitive tasks so they can focus on getting more clients. They can achieve higher success by leveraging the support of a REVA.
But, to be more specific, here are some benefits of hiring a REVA:
1 – Time and Cost Savings
Hiring a REVA is a cost-effective solution compared to hiring a full-time employee. REVAs are usually paid on an hourly or project basis, eliminating the need for expenses associated with employee benefits, workspace, equipment, and training. This affordability is attractive to real estate professionals who want to streamline operations while controlling costs.
Real estate professionals and companies also enjoy time savings when they delegate time-consuming administrative tasks to a REVA. This handover frees up valuable time for them to focus on core activities like client engagement, property showings, and negotiations.
2 – Increased Productivity
REVAs handle daily (and often mundane) tasks like email management, data entry, and document preparation which can significantly boost overall productivity. By delegating these responsibilities, real estate professionals can accomplish more in less time.
3 – Scalability and Flexibility
As the real estate business fluctuates, the workload may vary. Hiring a REVA offers scalability and flexibility to match the changing demands. In other words, REVAs can be engaged as needed, allowing professionals to scale up or down their support as required. This flexibility helps them effectively manage resources and costs.
4 – Enhanced Client Communication
REVAs play a crucial role in managing client communication. They can promptly respond to emails, answer phone calls, and schedule appointments, ensuring clients receive timely and professional support.
Improved communication → increased client satisfaction → a positive reputation
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What Support Do Real Estate Virtual Assistants Provide?
I mentioned the benefits of hiring a REVA. Now, let’s look at some specific tasks REVAs can handle in their client’s business:
Administrative tasks
- Scheduling appointments and showings
- Answering and managing emails and phone calls
- Creating and managing databases and spreadsheets
- Preparing reports and presentations
Marketing and advertising
- Creating and managing social media accounts
- Designing and sending newsletters
- Managing online ads and campaigns
- Developing and implementing marketing strategies
Client communication and follow-up
- Responding to client inquiries and requests
- Updating clients on property status and market trends
- Scheduling and coordinating property showings
- Following up with clients after a showing or transaction
Listing management
- Inputting and managing property listings on Multiple Listing Services (MLS)
- Conducting property research and analysis
- Coordinating photography and staging
- Creating property marketing materials
Transaction coordination and support
- Coordinating and scheduling inspections
- Assisting with contract preparation and submission
- Managing timelines and deadlines
- Following up with lenders and other parties involved in the transaction
For more tasks REVAs can offer, visit the REVA Global website for their free download.
What Skills Do You Need to Become a Real Estate Virtual Assistant?
We looked at ways to support your clients. But what skills do you need to have?
Here are the must-haves:
Administrative support: Strong administrative skills, e.g. data entry, scheduling, email management, file management, and general office support
Communication: Excellent communication skills, including written and verbal communication, active listening, and interpersonal skills. Since you will be working remotely, you will need to be able to communicate using communication platforms such as Zoom, Google Meet, Slack, Microsoft Teams, etc.
Organization: Strong organizational skills, including time management and task prioritization
Technology: Proficiency with a range of software and tools, including customer relationship management (CRM) systems, project management software, video conferencing software, Microsoft Office and Google Suite
Research: Ability to conduct research, analyze data, and prepare reports
Customer service: Excellent customer service skills, including the ability to respond to client inquiries, manage client relationships, and provide high-quality support to clients
Adaptability: Ability to adapt to changing circ*mstances, learn new skills quickly, and work in a fast-paced environment. This also includes the ability to work independently; having excellent organizational and time management skills; and having a strong work ethic
Another very important point to note (hence it’s not bulleted): Pay attention to time zone differences. It is highly likely that your client will be in a different geographic location than you so make sure to factor this in when it comes to virtual calls and meeting deadlines.
The following skills may not be critical to get your foot in the door but they’ll give you a competitive edge:
- Marketing and advertising skills
- Understanding of real estate industry terms and practices*
*I’ve added an asterisk here to emphasize a point. While it is a huge plus if you have real estate industry knowledge, don’t allow it to be the only deciding factor in pursuing this niche. When I applied to work with a real estate investment company a few years ago, they were more focused on hiring someone who was coachable and trainable. My chances were much higher than I realized because of this. I had a relatively good understanding of the real estate industry, including terminology, trends, and regulations. But I never worked in the industry nor did I have any relevant formal training.
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How to Become a Real Estate Virtual Assistant
Becoming a real estate virtual assistant involves several steps:
1 – Gain Relevant Skills
A good starting point is having the foundational skills of an effective virtual assistant – administrative support, customer service, communication, organization, time management, and proficiency with computer software programs. There are courses and training programs available online to help you develop general VA and REVA-specific skills.
Here are some ideas:
- Online courses on websites such as Udemy, Coursera, and LinkedIn Learning
- Real estate associations – National Association of Realtors (NAR) and the Real Estate Virtual Assistant (REVA) Network offer training programs
- Local community colleges – Some offer courses in administrative support or business that can help you develop virtual assistant skills
- Real estate brokerages – Some offer training programs for administrative staff and virtual assistants. You can reach out to brokerages in your area to inquire about any available training programs.
- Industry professionals – Consider networking with real estate professionals, such as professionals or brokers, to see if they offer any training or mentoring programs for virtual assistants.
2 – Build Your Portfolio
You don’t need to start with a website to showcase your skills, experience, and services. A portfolio would be fine when you’re now starting. Your portfolio should highlight your skills, experience, and achievements. It’s your opportunity to showcase relevant past work and demonstrate your ability to perform the tasks required of a REVA, such as creating listings, managing schedules, and coordinating appointments.
You’re probably saying, “I’m not a REVA so what could I really display in my portfolio?”
While this is true, most of your skills and experiences are probably transferable. For example, if you scheduled appointments in a previous job, you can do the same as a REVA. It’s the same skill that you’re transferring to a different industry and possibly using different software.
3 – Find Job Opportunities
Here are some ways to find REVA jobs:
- Offer services to friends and family – If you have family or friends in the real estate industry, ask them to give you a few small projects.
- Volunteer – Volunteer your services to non-profit organizations or charities in the real estate industry. You will gain valuable experience while also giving back to your community.
- Be an intern – Some real estate companies offer internships to individuals interested in pursuing a career in the industry. They may advertise their internships. Another way is to contact them directly and offer your services.
- Do freelance work – Offer your services as a freelance virtual assistant to real estate professionals and companies that need temporary or part-time help. This short-term experience can help you gain knowledge and skills while you build your network.
- Apply for jobs – Look for job postings on online job boards or contact real estate professionals or companies directly to offer your services. You can also join job marketplaces, such as Upwork and Freelancer or online job boards like Flexjobs, Indeed, and LinkedIn to find job opportunities. Create a profile on these platforms and apply for jobs to gain experience.
4 – Invest in Technology and Tools for Remote Work
Before securing a virtual assistant job, invest in the right tools. Every virtual assistant needs access to a computer and reliable internet to get started. Other important software and tools include a customer relationship management (CRM) system, project management tools, and video conferencing software.
5 – Network and Build Relationships
To be successful as a REVA, it’s important to build strong relationships with potential clients. Join online groups and forums related to the real estate industry. There are social media groups on Facebook and LinkedIn specifically for real estate professionals. Attend local real estate events and conferences. These networking strategies will help you connect with potential clients in the industry.
Final Thoughts
Hiring a virtual assistant offers numerous benefits to real estate companies and professionals like Sarah. As the real estate industry continues to evolve, the demand for skilled virtual assistants is expected to rise, offering exciting opportunities for both real estate professionals and aspiring REVAs. The collaboration between you can lead to a more balanced workload, increased efficiency, and improved client satisfaction.
The support you can provide as a REVA extends beyond managing emails and updating listings. With your assistance, real estate professionals and companies can enhance client communication, maintain a positive reputation, and close deals more efficiently.
To become a REVA, acquire the necessary skills, knowledge, and technological proficiency. Invest in relevant training, certifications, build a strong portfolio, and be active in real estate networking groups. These steps will position you for success in this growing industry.
Are you ready to become a REVA?
