Virtual assistants are becoming a popular tool for real estate investors to take the pressure off of themselves. They can do a lot of tasks for you that you don't want to be burdened with like answering your phone, dealing with leads, and helping out with social media. It sounds great on paper, but the reality is that real estate investor virtual assistants are not cheap and they have their own set of challenges.

The pros and cons will be discussed above. Vas's can be a great idea if done correctly or could turn into a complete disaster if not handled properly!

THE GOOD:

The biggest pro is that they can do the tedious stuff for you. They can save you a lot of time and help you grow your business. They can let you take on more deals, while they focus on managing your leads and answering your phone.

They will also free up your time to focus on other things like marketing. If you're very busy, the best thing you could do for yourself is to get a vas or 2 in place so that all of your leads are handled properly and efficiently. A great benefit of having a good vas is that it will make it easier to handle transactions since they can run reports and coordinate with title companies, contractors, etc.

Another benefit is that you can essentially treat them like an employee, which means you could save a lot of money. They will be responsible for paying their own taxes and have their own insurance policy. You don't have to pay for their health or life insurance, give them benefits or a retirement plan. With a real estate investor virtual assistant, you will also be given more time to focus on growing your business. You won't be bothered with minor issues such as dealing with tenants or answering your phone.

THE BAD:

Virtual assistants will not handle the big stuff for you. They can't handle issues with tenants, contractors, or title companies. The negatives of using a vas are that you're basically outsourcing your business to someone else. You will have to rely on them more than yourself, which can be a huge stress when things go wrong like they often do in real estate especially during the beginning and middle runs of the business. Vas's are not cheap and they cost about 10x more than hiring a real estate agent to work for you.

A vas can also scare away leads since they are not viewed as an expert "real" agent. Some agents are not even aware that a vas works for you and will treat them like a cold caller which could be very frustrating to work with.

You will also have to teach them the ins and outs of your business and let them deal with all of the problems. That can be time-consuming. It's much easier to do the things yourself, but when you're forced to deal with hundreds of different things, it can become overwhelming.

Virtual assistants are impersonal, more expensive, and require you to give up your time. They'll take more time for them than it is worth, which is why I would only recommend using one if you're very desperate or happen to be in an area where you're understaffed.

There are some other cons such as:

1. Your real estate investor virtual assistant will want their own personal assistant or they will need a separate office for them to do all of their business from. They will also want someone else to answer their phone too because they don't want to take calls from you. That becomes very complicated when you have multiple deals going on at the same time.

2. They don't know how to deal with tenants or contractors, so they will be unable to get in contact with them for you.

3. It can be tricky to get someone under the age of 30 as a vas because they will not work well under certain circumstances. For example, if there's a lot of money involved and the deal needs to close quickly, then you will have problems with a vas! This is not an ideal situation for your business because it can get stressful and make your Vas prone to mistakes.

4. Time is money and if you're not careful, you could lose a lot of time working with them. You may also have to spend more time training them to do their job.

5. Their work will likely be less than satisfactory. They are just starting out and have no idea how to be an expert in their field.

Some real estate investor virtual assistants are very good and do a great job, but there is no guarantee that they will be able to help you or even know what they're doing! It can be a huge waste of your time and it will require you to get involved with your Vas far too often which could lead to conflicts.

The idea of outsourcing your business is great, but the reality is that it's not always a good idea.

While your Vas can be very helpful, they are not a good idea for everyone. It takes a lot of work to get a vas and if you're not willing to put in that time, then I would recommend that you don't even hire one.

Real Estate Agency

A Real Estate Agent is someone who sells houses for you. They will handle everything for you, from finding your dream house to getting it sold. They will go to every property showing and conduct the inspection, showings, and presentation. They will listen to the client’s needs and give them their best recommendations.

A Real estate agent can help with your business in a number of ways, but unfortunately, they are very expensive and highly unprofitable in my opinion unless you're selling several multimillion-dollar homes per year. They are not good for:

1. Real Estate investors. No one can afford a real estate agent unless you're a millionaire. If you are, then maybe this is something you should look into.

2. If you're new to the game or just starting out your business. Real estate agents are very competitive and they will cut your deals down to their lowest possible price just to make sure they get the commission they want. They may not work as hard on your behalf if they think that it won't make them any money, which could hurt your entire business if you need that commission badly!

3. You don't have many sales in an area and have a lot of competition. Realtors are basically middle men who can take a really long time to complete deals. Unless you're in an area where there is a lot of demand and little competition, I would not recommend using an agent.

4. You need to sell your house quickly and don't have time to wait for them.

5. You can't afford them!

Real estate agents make money by charging 6% or more on the sale of your house. However, there are some cons to using a real estate agent:

1. They take away your agency and control of your house. This can be very frustrating if they are not careful.

2. They may make less money than they would if you were a solo agent. This is because the incentive for them to work hard for you may be less, so they could take their time on the sale or not show you houses that have already been sold to other people.

3. You may or may not get a commission on your deal. This is because real estate agents get commissions from the seller and from the buyer. They may not give you the commission that they get from the seller or they may give you a portion of it. It's up to them how they will do this, so make sure you find out before signing on!

4. You won't make much money, if any at all. Real estate agents are not very profitable per dollar spent.

Real estate agents require a lot of work and are very time-consuming. If you don't have the time to manage your own listing, then you should avoid using an agent.

My overall opinion on real estate agents is that they are not worth it. If you have a lot of money in real estate and the potential to sell millions of dollars worth of property per year, then your agent will make more money than they will with your business, so it's probably best that they do handle everything for you!

If you decide to use an agent anyway, consider the following:

1. They don't know much about marketing and how to get clients.
2. They may not be able to get your deal done quickly enough. It could take weeks or even months if you don't have a lot of competition and a lot of competition means a longer time.
3. Your agent may not treat you fairly. They have their own interests in mind and they will work to make sure that they get what they want no matter what it takes.
4. You may lose control over the sale of your property, which can be very frustrating if they don't stick to the rules that were established in the contract.
5. They are very expensive to use. Depending on how much they make per sale and how many sales you do, you may end up spending a lot of money on them!

For more information, you can visit Real Estate Calculators.