Tag: estate agency

Then there is the rise of proptech. This is the latest buzzword for all the tech tools estate agency professionals are using that are useful for streamlining the process of buying, selling and letting of property.  Proptech can save a lot of time in research and data gathering, as well as property marketing and the management of properties in a letting portfolio.

It is time for estate agents to embrace technology – not fear it

Like many long-standing industries, there is a fair amount of resistance in the property industry to the adoption of new technologies. This reluctant attitude not only slows up the property industry’s potential growth but also negatively impacts property owners and renters – who are estate agents’ bread and butter, their primary clients.

Proptech can help estate agents by providing:

• faster speed to lead time and more efficient customer service,
• the ability to directly connect agents with buyers and sellers, 24/7,
• big data gathering and analysis capabilities that help in providing strategic information on the property market,
• tools to process a far greater volume of transactions, servicing more clients in less time.

Technically skilled Virtual Assistants are transforming the industry

While the buying, selling and letting of property will remain people-driven, with an experienced estate agent playing the key role, today’s consumers want an easier and more direct route to market. Particularly as they already have instant access to a wealth of information on the Internet. So, instead of viewing tech as an intimidating industry disruptor, estate agents should treat it as the phenomenal tool it is – one that serves to free up valuable time and boost productivity.

The good news is that the majority of today’s Virtual Assistants are digital natives who grew up with technology and are uniquely positioned to leverage it to their estate agent-employer’s advantage. They are skilled at using software and digital tools to streamline processes, automate customer management systems, gather and analyse information, maintain websites and implement digital marketing campaigns – and they can assist with content creation.

Virtual Assistants can keep you ahead of the curve

As the business landscape continues to evolve to become more automated, embracing the benefits of employing a Virtual Assistant can help you stay ahead of the curve; to remain agile in adapting to changing circumstances while sustaining a competitive edge. Virtual Assistants who have experience in the property industry are versatile and skilled professionals, able to assist estate agents as administrators, sales and letting negotiators, bookkeepers and social media managers. Their responsibilities can also include providing customer service management, managing databases, and conducting market research.

Virtual Assistants can ensure a quick speed to lead time

Replying to clients fast is a competitive advantage. An MIT lead response management study¹ found that the odds of qualifying a lead drops 21 times if called within 30 minutes versus being called within 5 minutes. Yet, a Forbes study² cites the average business lead response time as 47 hours. It follows that estate agents who can respond to a lead within five minutes have a much higher chance of success than those who only get to it in hours or even days.

A Virtual Assistant can take on critical customer service tasks such as rapidly replying to leads and enquiries, and understanding customers’ needs so that they receive appropriate services quickly and efficiently.

Virtual Assistants can nurture your database

When it comes to converting leads into customers, not every client prospect is ready to buy now. Once prospects are in your sales funnel, you can nurture them with helpful, relevant content that moves forward as potential buyers, until they’re ready to buy from you. Think of lead nurturing in terms of creating a targeted series of communications, in which each one has a clear and concise objective – to move a sales prospect to the next stage in the sales funnel or drive a particular desirable action.

Virtual Assistants are highly skilled and versatile professionals who can handle a wide range of tasks, from administrative support to specialised tasks like graphic design or content creation. A digitally savvy Virtual Assistant will have all the tools at their disposal to nurture your database and spearhead the delivery of a customised experience to your prospective clients via your website, email or social media.

A Virtual Assistant can manage existing client communication and reach out to customers after their initial purchase, in person, to check if they need any further assistance. Having “real person follow-up” with clients shows that you value them and their business and keeps your brand fresh in their minds.

¹ https://cdn2.hubspot.net/hub/25649/file-13535879-pdf/docs/mit_study.pdf

² https://www.forbes.com/sites/theyec/2019/09/10/step-by-step-guide-to-following-up-with-b2b-leads-generated-by-sdrs/?sh=1491a8192309

Types of Virtual Assistants in the Property Industry

When we talk about Virtual Assistants (VAs) in the property industry, the scope extends beyond mere administrative roles. At VA Central, for instance, our portfolio includes:

• Lettings and Sales Negotiators: Act as a liaison between buyers, sellers, landlords and tenants.
• Administrative Assistants: Handle routine administrative tasks like scheduling, referencing, and customer service.
• Personal Assistants: Manage executives’ daily activities and are involved in strategic planning.
• Property Managers: Oversee properties, handle tenant issues, and ensure maintenance and repairs are timely.
• Property Administrators: Offer targeted support to property managers.
• Social Media Managers: Handle your social media profiles, content strategy, and online customer engagement.
• Accountants: Take care of your financial records, bookkeeping, and tax filing.
• Web Developers: Look after your website, ensuring it is both functional and aesthetically pleasing.

A Tailored Approach to Your Needs

Every estate agency has its unique set of requirements, goals, and challenges. By availing of VA services that are specifically aligned with the property industry, estate agents can get solutions that are custom-tailored to their business model. Whether you need help with lettings, sales, or social media marketing, a dedicated VA can become an indispensable part of your team.

How VAs Foster Digitalisation

1. Streamlining Operations: VAs can manage your CRM, update databases, and ensure that your digital files are organised and easily accessible.
2. Enhanced Customer Engagement: Through timely email marketing and social media management, VAs keep your digital customer relations proactive.
3. Data-driven Decisions: VAs can collate and analyse data to help you understand market trends, aiding in more informed business decisions.
4. Website Management: In a world where your online presence can make or break your reputation, having a web developer as a VA ensures your site is up-to-date and functional.

Conclusion

Virtual Assistants are no longer an optional add-on but an integral part of a modern, effective business strategy, particularly for estate agents. They not only alleviate the workload but also bring in expertise in various sectors of the property industry. In doing so, they facilitate a smoother transition into a more digitalised, efficient, and productive operational model.

A Real-Life Scenario

A client recently reached out to VA Central after facing an unexpected hurdle. His property manager, a crucial member of his team, had left suddenly. This departure created an immediate need. Initially, he searched for local replacements, hoping for an easy transition.

However, despite numerous applications, he didn’t find a suitable local fit. Turning to VA Central for assistance, he was introduced to a selection of our VAs. To his satisfaction, each VA exhibited a depth of knowledge, professionalism, and understanding of the property sector that was notably higher than the local applicants.

However, he had a genuine concern: How could he integrate a Virtual Assistant into his existing team, considering he had always worked with in-office personnel?

Practical Integration Steps

1. Outline Roles and Responsibilities: Before hiring a VA, it’s essential to clearly define the tasks you plan to delegate. Whether you’re looking at an 80-hour monthly contract or a more extended 160-hour plan, clarity is key to ensuring a smooth working relationship.
2. Prioritise Training: Once your VA is onboarded, dedicate time for thorough training. Ensure they’re familiar with the tools, software, and specific tasks they’ll be handling. A strong start often leads to consistent performance.
3. Maintain Open Communication: Keeping lines of communication open is vital. Organise regular check-ins or updates to ensure alignment. Digital platforms like Zoom or Microsoft Teams can be beneficial in this aspect.
4. Foster a Sense of Belonging: Ensure your VA feels a part of the team. Include them in team discussions or updates. This not only helps them understand the company better but also encourages a collaborative environment.
5. Utilise Efficient Tools: The property industry demands timely responses. Employ platforms that aid in task delegation, monitoring, and communication. A VA’s quick adaptation to your systems often leads to a smoother transition.

In Conclusion

Transitioning from traditional in-office roles to a Virtual Assistant setup can seem daunting. But, as our client discovered, with the right approach and mindset, VAs can significantly benefit your operations.

For estate agents, adding a VA to the mix offers both talent and flexibility. At VA Central, we aim to connect UK businesses with skilled VAs who can meet the specific demands of the property industry. Our focus is on providing genuine, professional, and bespoke support.

Consider the possibility of integrating a Virtual Assistant into your operations today. It could be the change that sets your business on a path of enhanced productivity and growth.

The Key to Compound Growth: Referral Business

In the realm of marketing, one potent strategy perfectly aligns with the principles of compound growth – referral business. The concept is simple yet immensely effective: deliver an exceptional and outstanding service to your clients that they can’t help but sing your praises to two of their friends, who then do the same, and so on. The result? A referral network that keeps expanding long after your first client’s property has been successfully dealt with, and you bid them farewell.

Referral business acts like a snowball rolling downhill, gathering momentum and size as it progresses. The foundation of this marketing approach lies in building genuine relationships and providing unparalleled value to your clients. Delighted customers will eagerly share their positive experiences with others, sparking a chain reaction of new leads and potential clients for your agency.

The Magnitude of Compound Marketing

Much like the escalating bets on each golf hole, the power of compound marketing lies in its ability to multiply your reach exponentially over time. Each satisfied client becomes an advocate for your business, and as their referrals bring in new clients, the cycle continues. Gradually, your agency’s reputation spreads, and your client base expands organically.

To maximise compound marketing, you’ll need to create an exceptional Estate Agency experience. Imagine if one day all your clients started paying 10x more for your services. That £4,000 fee becomes £40,000.

Now envision how your customer proposition would grow with that sort of motivation?

You’d upgrade all interactions, hand-deliver where possible, and encourage in-person meetings. Whilst investing in marketing expertise and the ultimate exposure for their property. Become customer-centric and understand your client’s needs more deeply. This may be the one and only time your clients move home in their lifetime, whereas for you it’s the third 4 bed detached you’ve seen this week. You need to remember this and make this experience as positive and as memorable as you can. This approach ensures lasting relationships not only with this one client but with their friends and their family. This will also set your agency as the beacon of excellence in the competitive estate agency market place locally.

Outsourcing may conjure up images of vast time differences and language barriers. However, VA Central stands to redefine this perception. By harnessing a talented workforce that shares a compatible timezone and language proficiency with our clientele, we effortlessly blend into the everyday operations of your estate agency. Our Virtual Assistants ensure clear and seamless communication, facilitating real-time collaboration and efficiency, all at an affordable cost.

Our faith in the power of outsourcing is not just rhetoric; it’s derived from a deep-rooted experience. As we’ve worked alongside estate agencies, we’ve observed first-hand the transformative impact outsourcing can bring. When routine administrative tasks are offloaded to a Virtual Assistant, your in-house core team can concentrate on the heart of your business – generating revenue. This strategic reallocation of resources results in heightened productivity, exceptional customer service, and streamlined operational efficiency.

Additionally, outsourcing presents unique opportunities for scalability. The property industry often experiences cyclical peaks and troughs in demand. By partnering with VA Central, you have the flexibility to scale your workforce in sync with these fluctuations, without the burden of excessive overheads. This agility is invaluable in today’s unpredictable market conditions.

At VA Central, we’re passionate about cultivating global work relationships. When you outsource to us, you’re helping to construct an international workforce, boost local economies, and nurture professional talent. This symbiotic relationship stretches beyond mere cost-effectiveness – it’s a stride towards a more interconnected, globalised work environment.

Outsourcing’s benefits are not confined to what we’ve explored here. Each organisation is unique, and the advantages derived can be equally individual. However, one thing remains clear: when handled with strategic foresight and a reliable partner like VA Central, outsourcing can significantly alter your estate agency’s trajectory.

So, if you’re curious about the potential benefits outsourcing could introduce to your business, why not have a chat with us? At VA Central, we’re dedicated to reshaping the property industry one Virtual Assistant at a time. We’re about smart work, not just hard work, ensuring the best for your clients – and your business.

In the realm of business, change is the only constant. By adopting outsourcing, you’re choosing to evolve with the industry, remain competitive, and seize opportunities for unforeseen growth. The future of the property industry is radiant. Are you ready to be a part of it?