Tag: virtual assistants

Streamline and automate to ensure success

When it comes to enhancing efficiency and expanding capacity while managing costs effectively, estate agents may consider leveraging external support for duties such as lead generation, administrative tasks, and managing sales progression. This strategy frees up essential hours in their working week, enabling them to focus on the core of their estate agency business: securing listings and selling properties. By engaging with external expertise for secondary business functions, agents not only boost operational efficiency but also ensure they can concentrate on their primary objectives – fostering client relationships and increasing listings, which are crucial for the growth and sustainability of the estate agency.

Refine then expand to grow capacity

Once the business has established streamlined and efficient operations, it is well-positioned to withstand the growth pains brought on by further expansion – either by taking on more estate agents or growing the support team. Upgrading processes and automation will have laid a solid foundation upon which new hires can be effectively integrated into the business, contributing to company growth while living out the company values established by the owner – including high standards of service and efficiency. This ‘refine then expand’ approach will ensure that your estate agency is not just growing in size but also in its capacity to serve clients better and secure a larger market share, which is good news for everyone involved.

Would you like to know more about managing the growth of your estate agency without stretching yourself and your business too thin? Our guest blogger, Chris Webb, owner of The Agency Consultancy in the UK, is no stranger to what it takes to build and grow a thriving estate agency. We highly recommend his brand-new book, “Building a £100,000 Estate Agency”, in which Chris shares his wealth of knowledge, offering estate agents a comprehensive guide to the intricacies of starting, managing, and growing a successful estate agency business.

What are the benefits of having an external call answering service?

• Never missing a call
• Always having a message taken
• They are able to handle large call volumes if need be
• Not having in-office staff who take turns to pick up a call being sidetracked from more important tasks
• Cost-efficient though eliminating the need for an in-house receptionist
• Consistent professionalism that enhances your company image

What are the downsides of using an external call answering service?

• Not having this touch point to build relationships with clients
• Language barriers or accents that affect communication
• A lack of in-depth understanding of the business
• Misunderstanding when conveying complex information
• Challenges when handling unique customer inquiries
• Not having important messages prioritised
• Non-employees who have not signed an NDA being privy to sensitive information

Utilising your Virtual Assistant to answer your calls is the quality choice

Virtual Assistants bring all the benefits while eliminating the downside of using a call answering service. Here are six ways in which a VA is the best quality option:

1. Versatility: As an integral member of your team, your Virtual Assistant can answer calls, take accurate messages, handle inbound queries and even qualify leads for you. Or they can simply take a message and email you the details, flagging the messages’ level of importance.
2. Flexibility: You can choose to have your VA answer all calls during office hours on certain days, and on others you can simply have them cover the phone for you while you are in meetings.
3. Personalised service: Clients feel valued when an upbeat person answers their call and immediately recognises their voice. Your VA can greet the caller, make them feel like their call is welcome, answer questions, take a message or route the caller swiftly to your phone if you are available.
4. Establishes rapport and trust: Rapport is built when the same friendly, yet professional person answers the phone every time.
5. Professionalism: The brand image and your company values are supported when your VA deals with a first-time caller query with knowledge and insight born of understanding your business.
6. Cost-effective: There are some setup costs, as the VA will have to set up a dedicated line for you but the ongoing costs are quite reasonable. However, digital technology has expanded so that the geographic location of a virtual receptionist today is of little consequence.

And, of course, your experienced VA does not have to only serve your business as a virtual receptionist – they can simultaneously handle your administration and other tasks that will free up your valuable time so you can focus on growing your business.

2. Delegate effectively

Working well with a Virtual Assistant requires you to effectively delegate tasks. To do this requires that you have a strong understanding of your Virtual Assistant’s skill sets. Use your first onboarding calls with your VA as a time of exploration, getting to know more about them and their strengths.

Always clearly articulate your expectations and goals. Providing detailed instructions and timelines, as well as any specific requirements will reduce the chance of misunderstandings or mistakes. Providing context will help your Virtual Assistant understand both what a task entails and how the task is important to the success of the business. Delegation also requires you to trust that your VA will understand the jobs requirements and work to the best of their ability. There is no point in delegating a job to your VA and then doing it yourself.

3. Set realistic deadlines

Setting a deadline that is achievable for you may not be realistic when working with a Virtual Assistant who is new to your business. Providing your VA with a reasonable timeframe ensures they can produce high-quality work while getting up to speed with the company, their job and your priorities. Prioritising tasks and establishing clear deadlines for each one will help your VA to use their time optimally. VAs who are quick on the uptake will soon master what is required and pick up their pace.

4. Embrace technology that supports easy collaboration

Collaboration can have far-reaching benefits for your business and team members. When you and your VA (or team) effectively communicate and collaborate you will be more productive because sharing ideas, resources, and expertise actually helps in completing tasks more efficiently. Use a suitable digital platform – such as Google Drive, Slack, Trello or Monday.com – to share records and facilitate seamless collaboration with your VA. Ensure your Virtual Assistant is trained on the tools you will be using for efficient project management and task execution.

5. Streamline workflow

By employing the right digital tools, setting clear communication guidelines, defining the scope of work, establishing deadlines, monitoring progress and providing feedback, you will have gone a long way to building an effective workflow between you and your Virtual Assistant. One of the great benefits of taking on a VA is that they are typically skilled in using digital technology. It is very likely that they will help to bring you up to date in automating and streamlining task management, administration, CRM and other aspects of your business. This will have a knock-on effect of boosting productivity and being enabled to offer exceptional support to clients.

A trusted Virtual Assistant can become one of the most valuable assets in your business. Keeping track of their progress is essential, but as a busy business owner you should not have to focus too much on when your Virtual Assistant is working but rather on their deliverables. Once your VA has proved themselves, make yourself available for any questions they may have and trust them to complete their tasks subject to routinely touching base and regular check-ins.

VAs help companies to level up in their use of technology

Virtual Assistants are well-versed in leveraging the latest technologies and tools to streamline processes. From automating tasks, to analysing data and spearheading competitor research, they can integrate technology solutions that improve efficiency and help a company stay at the forefront of digital innovation.

• Automating routine and time-consuming tasks allows human employees to focus on the more strategic and creative aspects of their roles.
• For agents, VAs can automate and speed up essential tasks such lead qualification and follow-up communications.
• When personalising a customer journey, marketing VAs can contribute by leveraging data analytics to understand customer preferences and behaviors.
• If a VA is skilled in the utilisation of machine-learning algorithms, they can help your company analyse data to predict market shifts, identify industry trends and track customer behaviour.
• Under the management of a knowledgeable VA, AI such as Chatbots are an excellent way to automate repetitive tasks such as responding to frequently asked questions or processing orders.

Hiring a Virtual Assistant can be a game-changer for businesses looking to scale their operations, reduce costs and boost overall efficiency. By taking on a Virtual Assistant, you are not just gaining an extra pair of hands – you will be gaining a dedicated team member who is committed to helping move your business toward success.

How can you move from being self-employed to becoming a business owner?

To move into being a fully-fledged business owner requires being real and honest about what you are prepared to get yourself into and what it will take to be successful. Here are four important considerations before taking the conscious step to become a business owner:

1. Before you quit your job and launch your business, you need to evaluate your personal and professional readiness. Ask yourself what skills and experience you have, what additional resources and support you need, and what risks and challenges you are willing to face.
2. Every successful business begins with a plan. You will need to validate your business idea. This entails conducting market research, identifying your target markets, analysing your competitors, and finding your business’s unique value proposition.
3. It means being willing to invest your income in setting up your business now for even more revenue down the line. Building a business is not necessarily the fastest way to the biggest paycheck, it’s about playing the long game. You need to set a realistic budget and cash flow projection for your business. You will also need to create a personal financial plan that covers your personal expenses.
4. It entails being prepared to assemble a business team. Building a business requires the combination of both entrepreneurial and a variety of professional skills. This is where the need for a business team arises. It does not pay to do everything yourself. Having a competent team will free you up from routine tasks but you still need to successfully delegate vital tasks to them.

Business owners and entrepreneurs frequently take on many responsibilities to reduce their overall costs. But, no matter what kind of business you own or the size of your business, the chances are you will need a team with varied skills who can support you as you develop and grow your company. Virtual Assistants can help you efficiently and cost-effectively grow your business – thanks to their wide range of skills. They are the most cost-effective option for business owners and who want to continue grow their company and need experienced and expert help.

Let’s break down the Opportunity Cost in Alex’s scenario:

1. Billable Tasks vs. Non-Billable Tasks:

• Alex charges £250 per hour for services directly related to buying and selling properties.
• Administrative tasks, though essential, do not directly generate income and take up roughly 3 hours of Alex’s day.

2. Opportunity Cost calculation:

• In 3 hours, Alex could potentially earn £750 through client engagements and property negotiations.
• Instead, these hours are spent on administrative tasks that don’t contribute directly to revenue.

3. Delegating to optimise efficiency:

• By hiring a Virtual Assistant (VA) for £12 per hour to handle administrative tasks, Alex can redirect those 3 hours to high-value, client-focused activities.
• The cost of the VA for 3 hours is £36, far less than the £750 potential earning Alex could achieve in the same time.

4. Resulting benefits:

• Alex can focus on areas where they have a competitive advantage – client interactions and sales.
• The VA’s expertise in administrative tasks ensures efficiency and accuracy in those areas.
• Alex’s business grows due to increased client engagement and successful deals.
• The reduction in personal workload can lead to better work-life balance and job satisfaction for Alex.

Here are three practical ways to optimise the use of time in your business:

1. Prioritising tasks is the key to success: The Most Important Tasks (MIT) methodology works well when it comes to the effective use of work time. This strategy involves creating a pared down list of just three tasks that it would be highly beneficial to complete that day. These tasks should be chosen for their importance and value. To decide on your three most important tasks, ask yourself goal-orientated questions, such as, “What three tasks will have the biggest impact on a desired outcome?” and “What can I get done today to further my progress towards my short-term goals?”
2. Delegate tasks that are not on your top three list: Delegation is not a sign of weakness. It is one of the signs of a strong leader. In addition to being the best use of your team’s time in freeing up your valuable time, it will extend your company’s capacity and efficiency as well as empower your team, build trust and help toward their professional development.
3. Delegate tasks you are not good at: Delegating effectively requires a lot of trust, communication and coordination. When delegating tasks it is important to choose the right person for the job. Part of being a good leader is understanding your employees’ strengths and preferences – and how their skills complement your own for the good of the business.

People are a flexible resource in that companies can expand as they need extra hands. This is especially true when taking on experienced and versatile Virtual Assistants. But time is finite. If the clock is ticking down toward a deadline, it is impossible to build in the leeway of more days, hours or minutes. Learning to best use valuable time and harness the core hours in the working day while making the most of Opportunity Cost through delegation is one of the skills that are sure to make good business leaders great and it is key to growing a business.

Here are four areas in which estate agencies can use AI to stay ahead in 2024

1. Speed to lead

Leveraging AI tools can significantly enhance potential customers’ first experience with an estate agency.

Today, most people shop for houses through a combination of online research, then working with estate agents and visiting open houses – starting with online research. So, when a potential client finally takes the initiative to make contact through live chat or completing a lead generation form, it is very likely you will be talking to them after they have completed comprehensive online research. They will have already encountered your estate agency online, looked at your website and sifted through the properties you have on the market. They are at the point where they are ready to talk to someone immediately and move forward. AI-powered chatbots ensure round-the-clock customer interaction, providing immediate, personalised responses to customer inquiries. This increases crucial lead to response time or speed to lead.

2. Customer service

During the sales process, AI can support the ongoing real-time communication between real estate agents and clients. Chatbots are available 24/7 to answer common questions and provide information. Chatbots can help customers schedule appointments more efficiently. By integrating an AI platform with CRM software, estate agencies can automate completing forms and the provision of useful public records such as transportation options, area crime rate statistics and school district ratings, to offer a clearer picture of an area to the potential buyer. Chatbots can also provide personalised recommendations to clients based on their preferences and past interactions, pointing them to relevant properties that are newly on the estate agency’s books. AI technologies like virtual reality (VR) and augmented reality (AR) enable immersive virtual property tours. Real estate agents can provide clients with realistic virtual walkthroughs of properties, allowing them to explore and evaluate properties remotely.

3. Industry insights

Estate agencies are using predictive analytics to gather and analyse data about their clients and properties to identify patterns and make informed predictions about property prices, market trends, and customer behaviour. AI algorithms use historical data and market trends to predict future Real Estate market conditions so that estate agents can leverage these insights in servicing their clients, anticipating changes and developing effective marketing strategies. After the conclusion of the sales process, AI can also help estate agents to collect and analyse client feedback allowing them to measure their satisfaction, maintain the relationship, ask for referrals and identify areas for improvement.

4. Marketing

AI tools can simplify and streamline marketing management for estate agencies. Here are just 3 of the many ways AI supports effective marketing strategies:

• Scale and efficiency that maintains personalisation: Generative AI, like ChatGPT, can take your client data, property information and campaign goals to create a range of personalised emails while enabling the delivery of these segmented emails to a large number of recipients.
• Targeted content scheduling: Property professionals can use AI to create highly targeted marketing campaigns that reach potential buyers and tenants with a higher likelihood of interest. AI can determine the optimal times for posting when your audience is most active on social media. It can inform scheduling your posts accordingly to maximise visibility and so helps to fine-tune social media strategy.
• Sentiment analysis: With AI tools, you can keep an eye on your social media mentions and comments and monitor people’s reactions to your content. By monitoring sentiment analysis, estate agents can gauge the public perception of their brand as well as particular properties and neighbourhoods.

Artificial Intelligence is transforming the property industry, reshaping the way properties are bought, sold and marketed. Estate agents who embrace AI-powered tools have a competitive advantage by leveraging AI to increase efficiency, provide tailored experiences, make data-driven decisions and enhance customer engagement. And as AI continues to advance, its role in Real Estate marketing is likely to expand offering new opportunities and possibilities for agents and their clients.

Expand your resources through taking on Virtual Assistants.

When it comes to building teams, since Covid the role of Virtual Assistants has emerged as a powerful business accelerator. VAs provide way more than just administrative support. They are a strategic resource when business leaders wish to streamline operations, revamp systems, focus on strategic initiatives and ultimately drive scalable growth.

• In the UK property industry, VAs can take over administrative duties, data capturing, financial administration and bookkeeping.
• A virtual Personal Assistant can manage your diary and inbox and ensure seamless communication with clients – or undertake any task that smooths your day.
• A virtual Property Manager can effectively liaise between owners and tenants to schedule inspections and manage repair and maintenance issues.
• Virtual Social Media Managers can help create and manage content for social media platforms, and other communication channels. They can assist with writing blog posts, creating graphics, scheduling posts and engaging with the audience online.

The benefits of taking on Virtual Assistants to expand your team:

Taking on a Virtual Assistant comes with many potential benefits. They can help you save time and energy, which you can invest in aspects of your business that need your personal attention.

• VAs are cost-efficient, saving time and money. In addition to reducing recruitment costs, wages and employee benefits, Virtual Assistants save on overheads.
• Gain access to a broader range of skills and expertise. VAs have a wide range of skills, and are well qualified and experienced in their particular discipline. They are generally tech-savvy and up to date with the latest software in their field.
• Increase your productivity and focus. When you take on VA to relieve you from day-to-day operations the company becomes more efficient. Your time is freed up to focus on higher value activities and the strategic aspects of your business. This can lead to greater productivity, enhanced customer service and business growth.
• Scale your business more efficiently. By taking over routine tasks, a VA can free up your time to scale up your business. Scaling can involve entering new markets or reaching out to a broader customer base. This could include expanding geographically or targeting new customer segments.
• Improve your work-life balance. Taking on a VA can help to improve your work-life balance by relieving you from tasks that will keep you working after hours. This allows you more quality time to spend with your family and friends or to pursue personal interests.

From saving money to increasing efficiency, taking on a Virtual Assistant or two will revolutionise your company’s routine administrative activities and provide access to specialised skills. In this way Virtual Assistants have the potential to transform the way you manage your daily business operations. And as the UK property industry landscape continues to evolve in 2024, Virtual Assistants can help you stay ahead of the curve, adapt to changing circumstances and sustain a competitive edge.

Celebrate your successes

Once you have plotted the significant events of the past year, it is important to celebrate your successes and recognise the hard work that went into them. It’s also important to show gratitude for those people who helped you reach your goals. Take the time to remember and list the particularly beneficial things people did for you – or when someone went the extra mile – then send each person a thank you note.

Learn from your mistakes – then move on

No business is perfect. Making mistakes or falling short in reaching a goal is inevitable but can also provide valuable personal and business growth experiences. Learning from your mistakes and viewing each of them as a positive experience can help to boost your confidence and release you from being held back by a fear of failure.

Take the time to set goals and create a game plan

Based on your reflections on successes and challenges, what goals do you want to set for your business for 2024? Consider short-term (quarterly), annual and long-term goals, and make sure they are SMART (specific, measurable, achievable, relevant, and time-prescribed).

• Choose your focus for the year.
• Determine what you want to change.
• Select your revenue streams and set revenue goals.
• Prioritise and narrow down new projects and ideas.
• Create a step-by-step implementation plan.
• Establish the people-power you will need onboard to reach your goals.

Communicate your goals with your team

It is important to brief your team on your goals and strategy for the new year. It is powerful to inspire and engage your whole team in reaching business goals so that each team member knows and understands the important part they will play in the company’s success in 2024. It is equally powerful to encourage collaboration between team members, emphasising the connection between teamwork and reaching company goals.

Create goals for different areas of your life
The best approach to the goal setting process is to first define your priorities. You may be most concerned about getting your personal or business finances in order, but how about the other areas in your life? If you set one or two goals in each area, you will very likely see a ripple effect across every area. Consider these areas of your life:

• Personal life
• Relationships
• Business plans
• Career development
• Financial security
• Health and fitness

Write your goals down

Writing down your goals is the start of the SMART goal setting process. When goals are written down you will be more likely to intellectually engage with them and emotionally connect with the results you want to achieve. It helps to provide clarity – taking your goals from being envisioned to being more concrete and real.

When drafting your goals, try to answer five “W” questions:

• What do I want to accomplish?
• Who is involved?
• Which resources or limits are involved?
• Where is it located?
• When is the goal deadline?

Ensure your goals are attainable

Your goals need to be realistic and attainable to be successful. While they can be stretch goals, which exercise and grow your capabilities, it is important they remain possible. When you set an achievable goal, you may find yourself identifying previously overlooked opportunities or needing to find new, additional resources that enable success.

• Ask yourself “Why?” The first step to making your goals attainable is to link each one to a “why?” When you take the time to understand why you want to reach a goal, the resulting drive helps to avoid distractions and provides focus and determination.
• Break your goal down into action steps. Select the goal you’d like to achieve then identify the steps you must take to reach that goal, moving in chronological order. Break down the first step into daily tasks you can accomplish. Each of the subsequent steps can also be broken down into daily plans.
• Identify the resources you need to reach your goals. In a business context there are several kinds of resources that will support achieving your goals:
  • Time is a valuable resource, and effective time management is essential to reach goals.
  • When it comes to time saving and efficiency, specific IT equipment and software might be necessary.
  • Taking on experienced, high performing people can make all the difference in reaching business goals instead of being overwhelmed or stagnating.

Track your goals in a visible place

Reviewing your written goals and action plan to measure progress on a regular basis helps you stay motivated and on track.  Visual measurement comes in many forms from habit trackers to journals, weekly planners or even using a whiteboard. Whichever method you choose, keeping your goals visible will make sure you don’t forget about them – starting with having a list of your goals up on your wall.

Here are 3 ideas for tracking business goals:

• Use a project management tool. This makes it easy to create customised “goal project” folders and assign task due dates to ensure you stay on top of your goal progress.
• Make goal tracking collaborative. Bring your team members into the goal tracking process.
• Keep a journal. Even though it may be seen as better for tracking personal goals, keeping a journal can be a powerful way to track your business goals, too. By writing down your goals, reflecting on your progress, and noting any challenges, you create a record of your journey.

Employees contribute to a company reaching it goals

Being properly staffed and taking on the right people is vital for the success and growth of any business. With the right team members in place, goal setting provides direction and focus, which helps the team reach company objectives. And goal setting is a tool that can be used to create purpose and engage team members, increasing their job satisfaction and fulfillment. By being clear on the contribution each person makes to reaching company goals, leaders provide purpose, motivation and are able to empower each individual to hold themselves accountable, to keep track of their progress with support and encouragement along the way.

Do you have the right people in place to reach your goals in 2024?

You do not have to be so bogged down under the weight of everyday tasks that you do not have the time to formulate and achieve exciting new goals for your business – to see it thrive and grow in the year ahead. Cost saving and efficiency are two key drivers to success in today’s challenging marketplace. And taking on experienced Virtual Assistants with the right skills and experience deliver on both. They are the key to freeing up a business leaders’ time so you can focus on important work and oversee reaching the goals that will ensure business success in 2024.