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In the dynamic world of real estate, the ability to generate motivated seller leads and scale operations efficiently is crucial. For many investors, the secret to success lies in leveraging virtual assistants (VAs) to streamline processes, manage tasks, and drive consistent lead generation. Bob Lachance, a seasoned real estate investor and entrepreneur, shares invaluable insights into building a thriving real estate business by incorporating virtual assistants effectively.
Why Focus on What You Do Best?
Many real estate investors face the challenge of juggling multiple roles—investor, marketer, and even HR manager. Bob Lachance emphasizes the importance of focusing on core activities that generate revenue, such as acquiring properties and closing deals. For example, tasks like cold calling to identify potential sellers, following up with warm leads to nurture relationships, and maintaining an organized database can be time-consuming but are essential for growth. These tasks can be efficiently handled by trained virtual assistants, allowing investors to dedicate their time to strategic decision-making and scaling their business. Lachance’s own background in professional hockey taught him discipline and focus, which he applied when transitioning into real estate. He credits sports for instilling the resilience needed to navigate challenges in business.
“If you’re an investor, do you also want to be in the staffing or marketing business? Or would you rather focus on what you’re good at?” Lachance asks. By delegating routine tasks to VAs, investors can maximize their productivity and profitability.
Building a System for Consistent Lead Generation
A steady flow of motivated seller leads is the backbone of any successful real estate business. Lachance’s company, REVA Global, specializes in providing trained virtual assistants who excel in lead generation through cold calling, text messaging, and other direct-to-seller marketing strategies. For instance, platforms like Smarter Contact are used for effective text messaging campaigns, while CRM systems help manage and track leads systematically. These VAs are also adept at managing leads, ensuring no opportunity slips through the cracks. Lachance highlights the importance of having systems in place, just as he did early in his career, where consistent marketing became the foundation for growth.
Key takeaways for effective lead generation:
- Consistency is Key: Market daily, Monday through Friday, to maintain a consistent pipeline of leads.
- Leverage Technology: Use platforms like Smarter Contact for text messaging or CRM systems for lead management. REVA Global’s VAs are trained to work seamlessly with various tools and platforms.
- Specialized Roles: Assign specific tasks to VAs based on their skill sets—cold calling, follow-ups, or data entry—to optimize efficiency.
The Value of Professional Virtual Assistants
Hiring and managing virtual assistants can be a daunting task for those new to the concept. According to Lachance, working with a professional VA staffing company like REVA Global eliminates much of the hassle compared to hiring VAs independently. He notes that while hiring independently may appear cost-effective initially, it often involves sifting through hundreds of resumes, conducting time-intensive interviews, and risking high turnover. In contrast, REVA Global handles recruitment, training, and HR, ensuring clients receive skilled and reliable assistants without the upfront challenges.
Benefits of using a VA staffing service:
- Access to pre-vetted candidates with relevant experience.
- Comprehensive training programs tailored to real estate needs.
- Ongoing support, including management and performance tracking.
“Our turnover rates are the best in the industry because we invest in our VAs,” says Lachance. “We provide HMO benefits, paid training, and a supportive work environment.”
What Tasks Should You Delegate?
Virtual assistants can handle a wide array of tasks, but it’s essential to delegate strategically. Lachance suggests starting with time-consuming yet essential activities, such as:
- Lead Generation: Cold calling, text messaging, and direct-to-seller marketing.
- Lead Management: Following up with leads and maintaining the CRM database.
- Administrative Tasks: Bookkeeping, lease renewals, and property management support.
- Marketing Support: Social media management, podcast editing, and content creation.
In addition to these business-focused tasks, Lachance points out that VAs can also handle personal administrative needs, such as expense tracking or organizing data. For instance, he relies on a VA to review and categorize personal expenses, which frees up his time to focus on higher-priority matters. By matching the VA’s skills with the right tasks, you can significantly improve efficiency and outcomes.
However, he cautions against outsourcing critical roles like deal closing, which directly impact the business’s bottom line. Lachance explains that relying on someone outside your direct control for such crucial tasks can lead to setbacks, as he experienced when outsourcing deal closers in the past. “Your closers should be people you trust implicitly,” he advises, underscoring the importance of maintaining oversight on key revenue-generating activities.
Setting Up for Success
To maximize the effectiveness of virtual assistants, Lachance recommends integrating them fully into your team. Daily check-ins, clear task lists, and performance tracking are essential for ensuring alignment and productivity.
Tips for effective VA management:
- Use tools like Viber, Skype, or Voxer for regular communication.
- Implement daily start-of-day and end-of-day reports to track progress.
- Conduct periodic reviews to align tasks with business goals.
Cost Considerations and ROI
Virtual assistants offer a cost-effective solution for scaling your real estate business. Lachance notes that while rates may range from $10 to $15 per hour, the return on investment can be substantial. By freeing up your time and ensuring consistent lead generation, VAs enable you to focus on high-value activities that drive growth.
Key Takeaways
- Focus on core revenue-generating activities and delegate routine tasks to virtual assistants.
- Build a consistent lead generation system using tools like Smarter Contact and CRM platforms.
- Work with professional VA services to save time and reduce turnover.
- Match VAs’ skill sets with specific tasks for maximum efficiency.
- Avoid outsourcing critical roles like deal closing to ensure oversight on key activities.
Start Scaling Your Real Estate Business Today
Integrating virtual assistants into your real estate operations is a game-changer. Whether you’re an experienced investor or just starting out, delegating tasks to skilled VAs can help you scale efficiently and maintain a steady flow of motivated seller leads.
Ready to take your business to the next level? Visit REVA Global’s website to explore their VA services and discover how they can help you streamline operations and boost your ROI.
