Calculating the return on investment (ROI) in the months after taking on a Virtual Assistant is more than a financial exercise for UK Estate Agents. It has more facets to it than only determining a growth in the number of properties sold before and after they joined – or calculating their impact on annual turnover.  When you evaluate ROI on a more holistic basis there are multiple factors to consider. Ultimately, all of these – financial or non-financial – have been proven to impact positively on a company’s bottom line.

Here are the financially related facets to consider when evaluating the source of ROI your company will enjoy through taking on a bespoke VA through VA Central.

Financial returns on investment

Saving money

  • Saving on upfront recruitment costs: Not having to pay recruitment costs when growing your team lowers annual business costs.
  • Not having to pay employee benefits and compensations: Not having to pay employee benefits reduces monthly cost-to-company.

Containing costs

  • Cost-effective rates: Paying for a half or full day package in which the hourly rate for your VA equates to the National Minimum Living Wage regulates annual salary costs (making growing the team affordable).

Increasing capacity

  • Time is money: Freeing up the Agency Principal and Estate Agents’ time so that they can take on more properties, spend more time nurturing client relationships and closing deals will increase turnover.

Increasing efficiency

  • Streamlining workflow: Having experienced VA’s onboard who will automate and streamline workflow has been proven to increase efficiency and level up Estate Agents’ service offering. This further capacitates Estate Agents to service the socks off their clients, increase their fees and grow the business.

There are benefits to be enjoyed where there is an indirect correlation between the cost of growing a team and ROI. What is tremendous about these non-financial gains (such as satisfied and engaged team members and a happy work environment) is that they also have a calculable impact on the company’s bottom line.

Non-financial returns on investment that impact the bottom line

Work-life balance for the boss

    • Having a talented, trustworthy team makes all the difference to being able to balance personal and work life – and to take well-earned time off knowing that your business will continue to thrive in your absence. Returning refreshed and full of energy will make all the difference to quality time spent growing your business.

Work-life balance for the team:

    • When a team has the optimal number of people in it, every member is empowered to give of their best without burning out. Team members can also take a well-earned break and in times of crises cross-skilled colleagues can pick up the reins for their affected teammates. There is sufficient thinking and operating time to be able to go the extra mile, be creative and innovative – and to be proactive in stepping up client service levels. It is these things that lead to more clients being landed and more properties being sold.

Healthy employee morale:

    • While employee morale upholds individual productivity, team morale is also important – it supports collaboration and enhances efficiency in team projects and goals. Fostering team morale is down to quality leadership, ongoing communication, regular recognition and reward, and the team being aligned with company values.

Taking on the right Virtual Assistant makes financial sense

Virtual Assistants are an exceptional resource for Estate Agents looking to improve their operations and increase revenue. Studies have found that, on average, businesses that employ the services of an experienced Virtual Assistant, can reduce their operating costs by up to 78%. Plus by working with a Marketing Virtual Assistant who manages branding and marketing efforts, Estate Agencies can access specialised skills that can help the company stand out and attract more clients in a noisy and competitive marketplace.