- Hiring a transaction coordinator, either virtual or in your office will immediately provide you:
- The ability to focus on your core business, selling homes
- Greater control into the transaction activity for you and your buyer/sellers
- Central location of information through a private secure website managed by your coordinator
- A budget friendly to grow your business
How much are you really earning?
July 6, 2008 By Leave a Comment
Have you ever stopped and thought about how much you're paying the person who handles your administrative work? Sending faxes, filing papers and making follow-up calls? Are you the CEO and Administrative Assistant in your business?
Did you know it is estimated that the average experienced real estate agent or real estate investor spends approximately 19 hours managing a transaction from contract to close? The time spent managing the transaction has significant financial implications you, as a business owner as well as the amount of money you're earning.
Let's assume you plan to make $75,000.00, per year or about $37.50, per hour based on a 40 hour work week. If you spend 19, of your hours, managing a transaction the cost to you is in excess of $700.00, per transaction! Not to mention the lost opportunity costs because of the time spent in the office, on the phone (generally on hold), sending faxes, emails or filing.
Hiring an assistant is an excellent way to help you spend more time on income generating activities. An assistant or coordinator with experience in real estate can instantly impact your business. Managing an employee however can have it's own unique challenges.
Thanks to the internet, there are virtual assistants and virtual support companies that specifically assist real estate professionals. While rates and services vary, let's assume you are opt to have a coordinator manage your transactions from contract to close.
With an average fee of just $325.00, per transaction, generally payable at closing, you have immediately given yourself a raise of almost $400.00, for each transaction closed!
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