Service Quality Increases as a New Approach to Real Estate Services Emerges

Service Quality Increases as a New Approach to Real Estate Services Emerges

By Karen Bowman, Owner, West Coast Way Consulting

www.westcoastway.com

According to a recent article published in The Globe and Mail, the central bank announced on January 16, 2007 its key interest rate would remain unchanged at 4.25%, and gave no indication about any move up or down any time soon. As we enter 2007 this may give buyers additional confidence resulting in more business for real estate agents. The nearly Canada-wide real estate boom has seen realtors scrambling to keep up with client demands.

The competition within the real estate arena to stand above the crowd by providing the ultimate in service quality has given birth to the Real Estate Virtual Assistant (REVA). With the rising costs of employee benefits, office space, equipment and supplies, the REVA is well positioned to provide the services that help a busy realtor to stay competitive.

I recently sat down, virtually of course, with three realtors from the local Century 21 Mountainview Realty Ltd. office to discuss the differing perspectives on in-house full time support, virtual support, and going it alone. Century 21 Mountainview Realty Ltd. has been one of the highest producing real estate offices in the West Kootenays of British Columbia over the past 10 years. Since 2002, their office sales have increased around 47%.

Derek Sherbinin, Realtor, (www.sherbinin.com), born and raised in South Slocan on the outskirts of Castlegar, began selling real estate at 21 years old. Just 14 years later he has transitioned from co-owner to full ownership of this agency. He has consistently received Outstanding Achievement Awards and maintained the highest Century 21 Award in Canada from 1996 through the year 2006. He has employed a full time, in-house assistant since 2001.

Barry Brown, Realtor, (www.barrybrown.ca), in real estate for 19 years and a Castlegar resident since 1980, recently shifted his focus from co-ownership to offering full time real estate services. His extensive credentials include Licensed Real Estate Agent, Licensed Real Estate Broker, Licensed Mortgage Broker, and a Business Diploma. Barry loves real estate and is excited at the prospect of shifting his focus from company goals to personal goals. By increasing production levels, he plans to be among the Top 3 Producers in Castlegar. To date Barry has not required a personal assistant. However, with the increased production levels and without the benefits of office support staff, he is investigating the possibility of an assistant.

Tom Leckie, Sales Representative (www.castlegarhomes.com) was also born in Castlegar and after a sojourn of 16 years in Alberta, returned home to begin his real estate business. Tom has been licensed as a Realtor for over 13 years.

Tom’s standing is Masters Ruby with the Century 21 Canada Masters Program. Committed to Real Estate and to ‘Going the Extra Mile’ for his clients, Tom recently contracted my services to assist with a specific marketing project.

The round table discussion that follows revealed some interesting, and sometimes surprising, insights.

Question All: What are your top two time savers and top two time wasters?

DEREK – Time savers are my personal assistant and my contact database management software. Time wasters have been unqualified buyers and a good majority of email inquiries.

BARRY - Time savers are my phone (Treo – like a blackberry) access to calls and e-mail anywhere in the world and my home office. Time wasters would be website work and making marketing materials.

TOM – A time saver is trying to qualify buyers and short listing their wish list before taking them out. Time wasters are the computer and going out of my trading area to try to sell a house.

Question All: Are there tasks that a virtual assistant could perform that would free up your time to spend on “money making” tasks?

DEREK – I already have an assistant doing this, but a virtual assistant could do some of the same tasks.

BARRY - Absolutely, website management, brochure development, listing entry, answering information request e-mails. Listing Updates with Clients.

TOM – Yes, there are some tasks, but sometimes you may lose connection with certain clients’ needs because you passed certain tasks off.

Question Derek: How long have you had an assistant and what made you decide to employ someone in this role on a full time in-house basis?

DEREK – My business expanded to a point that I could not handle all the business that was coming my way AND allow me to do as thorough of a job as I had done in the past, which got me to where I was. I either had to slow down and turn business away, or get an assistant.

Question Derek: What impact is there on you and your clients when your assistant is unavailable due to illness, vacation, evening or weekends?

DEREK – A large impact. My clients find that if I am not available, my assistant is always there to help them. They come to rely on my assistant as part of my service. I tend to have to fill in for her, doubling my workload. This is where a virtual assistant would be a very good solution.

Question Barry: How does not having an assistant (full time, part time or virtual) affect your business?

BARRY - I will be doing all the things I mentioned previously when I should be trying to find homes for buyers and listings for my own inventory.

Question Barry: What would be considerations for enlisting the help of a VA for a project or on a longer term basis?

BARRY - I am definitely going to hire an assistant of some sort.

Question Tom: What were the deciding factors for you in choosing a VA to help you with your marketing project?

TOM – Because I choose not to spend a lot of time on the computer, it was good for my client to have a VA put together a professional package on what this property has to offer.

Question Tom: How did engaging the services of a VA assist you?

TOM – It made me look good to my client and I did not have to devote a lot of time to a top notch final product.

Question Tom: Based on this experience, would you use the services of a virtual assistant in the future?

TOM – Yes, it separates a presentation put together by a VA from something I could do. In other words, it’s Professional vs. Non-Professional.

Question All: What would be some of your concerns with having a virtual assistant help with your business?

Derek – Dealing with paper. Sending letters that need my signature, scanning documents, being able to explain tasks in person and being able to sit down with the my assistant to train. An in-house assistant would be required to spend the time assigning and explaining specific tasks to a virtual assistant, therefore having the need for multiple assistants. This would be fine as long as the Realtor’s volume is high enough.

BARRY - I think the whole work at home thing is difficult for me when I am used to being in constant contact with an “employee.” Am I getting charged 4 hours for 15 minutes of work?? Sometimes I need a quick job done (15 mins) do I get charged a minimum?

TOM – One concern is cost. Another would be losing that little bit of hands on with your clients.

Question All: Do you have any final comments or advice for realtors or aspiring Real Estate Virtual Assistants?

Derek – You make your money listing and selling real estate. Simple as that. If your assistant can do tasks for you that will give you more time to list and sell, you will make much more on an hourly basis than you will be paying your assistant. It works.

Barry – I think every mid to higher producing Realtor could use a VA and spend more of their time producing at a higher level. I think VA’s should be talking to Realtors that don’t have a VA and selling their services directly to them.

Making use of a qualified virtual assistant is one option that is gaining popularity. With the flexibility offered by most professional virtual assistants, a realtor can easily manage the options to best fit their business model and goals. Providing the highest possible level of service quality is essential to the success of realtors especially since a percentage of their business is from word of mouth referrals.

Working with realtors offers an ever-changing, challenging, and rewarding experience. Virtual Assistance is still in its infancy as an industry, but the knowledge of our existence and expertise continues to spread. With a solid foundation of trust and respect between a Virtual Assistant and their client, a successful, long-lasting partnership is often born.

I’d like to thank Derek, Barry, and Tom for carving out some valuable time to share their insights with realtors and virtual assistants.

Postscript: Following this interview, Barry Brown (www.barrybrown.ca) contracted my services as his Professional Virtual Assistant. He has enthusiastically agreed to participate in a follow up article depicting “A Day in the Life” retrospective.

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