WHAT YOUR REVA CAN DO FOR YOU
If you ask every successful REALTOR®, you will find out that part of their success comes from focusing on what really matters. In this business, what do you think matters most? Easy….Customers. Establishing a good relationship with them and closing that deal. Just because you’re working 12-16 hours a day doesn’t mean that you have everything covered. If you look at the tasks that a REALTOR® does every single day (including the simple task of remembering deadlines), you might want to extend your working hours. But the thing is, you don’t have to. There are a lot of things that you can delegate to your assistant. A LOT!
Following are our suggestions for some of the tasks that you can have your Real Estate Virtual Assistant do. Some of these tasks may be something that you are not currently doing and don’t want to do or maybe you would want to start doing—it’s really your preference.
Pre-Listing Activities
• Keep track of your appointments with sellers. Your REVA (Real Estate Virtual Assistant) may also call the seller prior to the appointment for confirmation.
• Stay in regular contact with your clients OR prepare reports for you to share with the Seller.
• Research sales activity for the past x number of months from MLS and public databases.
• Research “average days on market” for properties similar in type, price, and location.
• Download and review the property tax record, including legal description, lot size, and ownership information.
• Verify legal names of owner(s) in the county’s public property records.
• Research all comparable currently listed properties and assist you with preparing the “comparable market analysis” (CMA) to establish market value.
• Obtain a copy of the subdivision plat/complex layout.
• Research property’s land use and deed restrictions.
• Research property’s current use and zoning.
• Prepare a listing presentation package.
Entering Property in MLS & other applicable databases
• Enter all listings into the MLS listing database within 24 hours of the signed listing agreement.
• Add property to the company’s Active Listings and/or Showings database.
• Load listing into a transaction management software program.
• Review and proofread all MLS listings for corrections and make changes as needed.
Marketing the Listing
• Create print and online ads.
• Create a video showcasing the property. (usually from still photographs)
• Coordinate Buyer and agent showings with seller &/or tenants.
• Prepare mailing list in preparation to mail “Just Listed” notice to all neighborhood residents.
• Design “Just Listed” postcards.
• Merge mailing list with the postcards.
• Send addressed postcards to the mail house for printing and distribution.
• Prepare flyers and or Prepare property marketing brochures.
• Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions, and availability.
• Arrange for printing or copying of supply of marketing brochures or flyers.
• Upload listing to company and agent websites.
• Upload listing to Single Property Website.
• Submit ads to the company’s participating real estate websites.
• Convey price changes promptly to all Internet groups.
• List the property on agents Social Media Business Pages.
• Coordinate with the print shop to reprint brochures as needed.
• Promptly enter price changes in MLS & other online websites.
• Design & delivery of regular emails to prospects to showcase your listings. Your REVA will be familiar with the email program of your choice. (Such as IContact or Constant Contact).
• Coordinate direct mailings to prospects and past clients.
• Manage advertising production by keeping a log to ensure that advertising materials and related billing are mailed to printers and newspapers on a timely basis.
• Proofread materials, such as advertising copy, personal letters to top clients, and direct mail promotions, for content and clarity.
• Coordinate appointment schedules for open houses, listing presentations, showings, closing meetings, and other appointments. An assistant can call to remind clients and prospects of scheduled meetings and keep the agent informed of changes.
Organize and send Just Sold and Just Listed cards for all listings to increase marketing exposure of property and agents and possibly increase listings in the area.
Just Listed and Just Sold Postcards:
Sending “Just Sold” and “Just Listed” cards for all listingsincreases marketing exposure of both the property and the agent. It usually increases listings in that area often the neighbors will choose to do business with the agent that sold the house “next door.”
1. Immediately the Property is listed, REVA prepares a “Just Listed” postcard with a photo, description, and location of the property and the list price.
2.You advise your REVA of the geographical farm area you would like to send this card to.
3.REVA downloads (from the MLS) the names and addresses of all property owners within this farm area and imports them into your CRM program or other software which enables you to print labels.
4.REVA emails/uploads the completed addressed postcards to the agent for printing, or if large volume, consider utilizing a third-party mailing house for your distribution. (i.e. https://click2mail.com , www.usmailinghouse.com or your local print shop.)
5. Immediately the Property is sold, REVA prepares a “Just Sold” postcard with a photo, description, and location of the property. REVA and agent should discuss whether to include the price. Many Buyers get upset if the price they paid is broadcast around the neighborhood. (even though it is a public record in most states).
Transaction Management
Create a transaction tracking list in your Transaction Management or CRM software which will be assigned to each client under contract.
Tracking the loan process
• Follow loan processing through to the underwriter.
• Add lender and other vendors to the transaction management program so agents, buyers, and sellers can track the progress of the sale.
• Contact the lender bi-weekly to ensure processing is on track.
Home Inspection
• Order all applicable inspections such as termite, mold, radon, well, and septic system.
• Coordinate scheduling of inspection with the Seller, Buyer or Buyer’s Agent, and Inspection Company.
• Enter completion into the transaction management tracking software program.
• Track the resolution of unsatisfactory conditions to ensure compliance with contract deadlines.
• Recommend/assist the seller with identifying trustworthy contractors for required repairs.
The Appraisal
• Coordinate the scheduling of the appraisal.
• With the direction of an agent, send comparable sales used in market pricing to appraiser.
• Follow up on appraisal.
• Enter completion into the transaction management program.
HOA Research
• We research public records and contact local Title Companies to obtain the name and contact information of the HOA.
• We follow the procedures required to obtain the estoppel, statement of account, assessment, etc from the association.
• Complete all Association and REO Bank required forms.
• Submit requests to approve fee to the REO Bank HOA Specialist.
• Order Certificate of Title, Substitute Trustee Deed, etc from the REO Bank.• Submit the required documentation to the HOA.
• Obtain CCRs, by-laws, etc as required.
• Submit all required HOA documents to the REO Asset Manager
• Submit reimbursement of all fees paid by the agent or broker if applicable.
Title Commitment/Abstract of Title
Order the title commitment immediately the property is pending.
• Order Survey.
• Advise Title Company or Closing Agent the contact details of both Buyer and Seller’s lenders.
• Verify with the Seller and Buyers agent that the company selected is acceptable to them.
• Track delivery of the title commitment to Buyer, Seller, and Agents.
• Verify that Buyer has received and reviewed the Title Commitment or Abstract of Title.
• Obtain governing documents including recent HOA financials.
Closing Preparations and Duties
• The coordinate closing process with a buyer’s agent, closing company, and lender.
• Ensure that all required tasks described in the transaction ‘To Do’ list have been completed and documented.
• Coordinate closing date and time and notify all parties.
• Request final closing figures from the closing agent/title company for agent & Buyer/Seller review.
• Forward closing documents to the buyer or seller as requested.
• Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
• Verify complete file including all executed contracts and disclosures.
• Closeout listing in the transaction management program.
Do not be overwhelmed by the tasks, mentioned above, if you are not currently doing it. Those tasks can be done by your REVA.
Personal Marketing
• Schedule and organize personal marketing advertising on a monthly basis to ensure constant personal marketing.
• Locate vendors to produce and distribute marketing materials and request prices from them, assuring the best quality products for the best prices.
• Maintain routine contacts with graphic designers, printers, mailers and other vendors to ensure that deadlines are met.
• Keep track of production, billing, and shipping dates for advertising materials such as flyers and brochures.
• Enter new contact names, addresses, and emails from information requests, open house guest books, and other sources in your database. Make address corrections as they are received in your Customer Relations Management systems/database). i.e. Top Producer, Realty Juggler, Outlook.
• Track and execute a mailing schedule to sync with your database to create merged letters and other correspondence.
• Create marketing materials with you such as writing copy for a newsletter or use a pre-designed newsletter from companies.
• Respond to phone requests for information about your services by sending standardized packages of information.
• Follow up on marketing materials with phone calls to make sure that customers received the letters and see if they are a current prospect for us to contact. Set appointments for you with prospects!
Manage Incoming Calls
Answer the phone in a friendly and upbeat manner and show a caring attitude to everyone who comes in contact with the company.
Be able to prioritize incoming calls and know how to handle different types of calls.
• High Priority requests. These calls demand your immediate attention. This category might include prospective Buyers. The REVA will forward these requests directly to you and answer them as soon as possible, preferably within the hour.
• Medium Priority requests. This type of call also requires a direct response but is not as time-critical. This might include potential customers who want to make an appointment or who have in-depth questions about the home selling process. Everyone who requests a personal response should receive one.
• Informational response. The REVA can handle this type of call, which typically includes basic questions about agent’s (YOUR) services, general information about the community, and requests for a brochure about a property. The REVA can set up an automated response feature in the agent’s e-mail to send some types of information in response to certain keywords in the subject line.
Prospecting
Develop prospects database from all prospects who have contacted the agent. Maintain regular contact with each prospect and make sure their needs are being met.
Record which marketing category or contact method resulted in each closed particular sale. This will allow agents to evaluate how much time and money was spent prospecting on each category vs. how much commission income was generated from transactions in that category within a specific period.
Respond to phone and email requests for property information by emailing standardized packages of information about each listing.
Follow up on all marketing materials sent by email with a phone call to make sure that the prospect received the email. At this time, the REVA will attempt to obtain an appointment for you with the prospect.
Expired Listings. Identify all expired listings on a daily basis and gather Seller contact information for all listings which expired in your targeted farm area. Call each Seller to introduce your company and try to obtain a listing appointment for you with the prospect. If not able to obtain an appointment, ask Seller if you can email or snail mail them a customized flyer or booklet of information that showcases why the Seller should list to you. Email it to agents so you can print and distribute it. Delivering the packet via courier, express mail or in-person has the biggest effect. Follow up with a phone call to make sure that the seller received it.
Assemble customized electronic or hard copy pre-listing and listing packets using the agent’s standard format. If hard copy, set up an account with a local print shop such as Fed-Ex Kinkos. Email the package to them and they will print and deliver it to the prospective client. Distribute the pre-listing packet via email a few days before the listing presentation.
Deliver the packet via email or courier. The pre-listing packet should include the following:
Customized Cover letter, Draft Listing Agreement, Agent Profile, Company Profile, Recently Sold Properties in their area, Customized Marketing Plan, Home Selling Process & reasons why they should list with you.
Customer Relations Management (CRM)
Develop action plans for the following contact groups:
Past Clients, Warm Prospects, Cold Prospects.
• Action Plan ideas for Past Clients include:
Annual CMA or MLS link to comparable listings recently sold.
• Quarterly market statistics.
•Most Title Companies generate frequent market statistical data. If not, your MLS most likely can generate reports.
The VA can customize this data to match the type of property and location your client owns.
•Birthdays
• These can be inputted into Top Producer, or VA can email to agent a daily list of birthdays for an agent to call or send birthday greeting via Facebook.
• Social media
• Ask each prospect, client, and past client to connect with the agent on social media.
.REO & BPO Services
Your REVA can manage comprehensive REO administrative duties including:• REO Support Services
• Monthly Service Reports(MSR)
• Upload Property Inspections
• Broker Registration with Asset Managers. We have an extensive list of nearly 200 Asset Managers.
• HOA Research
• REO Reimbursement Expense Management
• Listing Management
• Transaction Coordination
• Marketing
BPO Services
By utilizing our Broker Price Opinion (BPO) services, you spend less time pulling comps, researching neighborhood information, completing BPO forms, uploading photos, and more.
• BPO Data Entry. Upload BPO content online or fill out BPO documents.
• Input subject and comp property data.
• Upload Property Inspections
• Broker Registration with Asset Managers. We have an extensive list of nearly 200 Asset Managers.
• HOA Research
• REO Reimbursement Expense Management
• Listing Management
• Transaction Coordination
• Marketing
Platforms your REVA can work with:
• EQUATOR
• RESNET
• ALTI SOURCE
• CLEAR CAPITAL
• VRM
• RTL
• RTC
• LPS
• VRMCO
• iMACROS
• SOLUTION STAR
Website Management
Your REVA can also manage, update, and enhance all your current websites. They can execute a plan you develop to utilize any dormant URL’s you own. This includes regularly updating the banner and flash page, keeping the site fresh, and inputting and updating any new content. It is important to tie together all your social media and websites into one cohesive marketing strategy.
• Maintain all websites keeping property information and agent information current.
• Capture all leads and disburse in a timely manner so all leads are contacted immediately by the agent.
• Making sure URL’s to outside sources of information listed on websites have not ceased operations or changed addresses.
• Add new listings to the website, MLS, and any other listing sites used.
• When homes are sold, remove listings from all listing websites.
• Collect and add new content for blogs on a continual basis. Research and secure permission to use content such as real estate articles from local newspapers, national publications, links to local chambers of commerce or school districts as well as other content that may enrich the site.
• Respond to basic emails requesting information in a timely manner. Create standardized email documents describing the agent’s services, a pre-listing package, and instructions on how to locate your listings on the Web.
Social Media Marketing
• Develop, maintain, and keep current with regular updates of your websites and social media, such as Linkedin, ActiveRain, LoopNet YouTube, Pinterest, Facebook, Twitter, Google+, and other industry-specific sites.
• Work together with a content writer (if applicable) to post articles on blog sites, your website, and social media sites.
• At your option, post and repost weekly listings on Craigslist.
About Social Media Management
Any website that allows you to interact with other members is social media. Major sites are LinkedIn (Business Networking), Facebook (Networking), Pinterest (Networking), Twitter (Microblogging), YouTube (Video Sharing), and WordPress (Blogging)
Why is Social Media important?
Many of your existing prospects and past clients are using Social Media. This is a great way to stay in front of them.Fans and followers are more likely to purchase your product or service.
Increases traffic to your website, blog, newsletter, or RSS feed.
It increases the visibility of your business.
Boosts your Search Engine Optimization by providing more links to your website.
It provides a platform for you to connect with your customers and clients.
The key to the success of building a social media database is to attract specifically targeted followers. Your VA could start reaching out to all your current and past clients and then reaching out to their friends. It takes time to develop.
Twitter. Create a twitter page and build a followers base of your potential customers (tweet latest news and updates about upcoming seminars. i.e. “Come to our seminar and learn about how to receive Free Money to help you buy your home.”)
Facebook. Create a Facebook Business page and constantly build on and increase the number of likes. (update new trends and the latest news in the market). As Friends join, your VA can then reach out and invite their friends to your page.
LinkedIn. Create a Personal Profile and connect with potential customers.
Managing a system to keep in touch with past clients
Your assistant can develop a system that keeps you in touch with your past clients. Tools may include: “Friending” them on Facebook and posting regular comments on their page, sending them annual CMA’s on their property, emailing general market sales data each year, reminding you to call them on their birthday.
Article Writing for your Blogs and Newsletters
In addition to your REVA, you might consider bringing a professional content writer into your team, even part-time.This will increase the effectiveness of your blogging, social media, and SEO efforts.