Is it Time To Hire An Assistant?
By Paul Esajian on July 1, 2016
Generally speaking, real estate investors are a stubborn bunch. Not only do they think they can do it all but try to tackle everything themselves. What most investors fail to realize is that even if they accomplish their task there is a price to be paid. The most important asset you have in life, and business, is time. By spending time focusing on one thing you reduce the time you spend in other areas of your business. Sure, you may accomplish what you set out to do but at what cost? One of the ways to get some time back is by hiring an assistant. Your assistant will handle all of the time consuming tasks that you can’t, or don’t, want to do. By freeing up even just a few hours a week you may be surprised to see what else you can accomplish. Here are five reasons why it may be time to hire an assistant.
- You Will Grow Your Business. As a real estate investor it is not enough to have a good idea. You need to know how to put that idea into motion. Many investors avoid direct marketing or lead generating because it can be tedious and time consuming. Here is where an assistant can be invaluable. They will implement systems and do all of the grunt work to help your business grow. Instead of printing letters, stuffing envelopes and licking stamps all you have to do is wait for the phone to ring. While some investors scoff at the notion of having to pay an assistant think of the value they create. If you take the time to train and educate exactly what you want done they will help grow your business tenfold. Sometimes you need to spend money to make money in business. Don’t think about the expense think of what an assistant will do for your business.
- You Will Be More Organized. It takes a lot to be a successful real estate investor. The longer you are in business the different hats you will wear. One day you will take a call from an interested seller and the next you are looking for a plumber on a rental property. If you are not organized you will miss a deal, payment or contact. An assistant will help you organize your business. One of the misconceptions about an assistant is that they have to work full time by your side all day. The reality is that you control how little or how often they work. For as little as three hours a day or fifteen hours a week your assistant will handle office tasks, follow ups and anything else you are looking for. Sure, you can probably handle them yourself but it is more than the three hours you are losing. Every new task you stop and start takes dedication and focus. In the course of these three hours you will become sidetracked and your mind will wonder. By having an assistant update your schedule and calendar you will greatly improve your efficiency.
- Less Stress = A Better Personality. If you are wondering why you are not generating more business your personality can be the cause. Regardless of what side of the transaction you are on nobody likes dealing with someone who is stressed out and all over the place. By utilizing an assistant your personality will be greatly improved. Instead of worrying about every aspect of your business you can focus on networking and closing deals. The people you talk to will be more likely to work with you because of your calm disposition. Additionally the nature of real estate calls for investors to bring their work home with them. Instead of being present with family and friends they are really thinking about what they need to do on a deal. Even a few hours a week of an assistant will allow you to slow down and become less stressful.
- Increased Contacts. A good assistant can act as the point guard for your real estate team. They will put you in touch with real estate agents, mortgage brokers, attorneys, builders, contractors and accountants. You should never have to worry about missing a meeting or not following up with a contact again. This alone will help make every relationship stronger and more efficient. Instead of sending a hurried email your assistant will help send a measured response. The more that your contacts feel like they are important the better they will work for and with you. The minute you start neglecting your contacts your business will suffer. An assistant will help get everyone on the same page.
- More Deals. Organization and less stress are important but the most common reason to hire an assistant is for the deals they produce. Something as simple as an automated email campaign can take a few hours to set up. Between adding email addresses and producing the content you can spend a whole morning solely on one email. Instead of worrying about this your assistant can take care of everything from start to finish. They will also reach out to fsbo owners, contact absentee landlords on craigslist or pull probate information from town hall. All of these methods will directly lead to deals on your end. For whatever you are paying your assistant just one deal will earn it back and then some.
A well trained assistant can help with whatever stage of the business you are at. Sometimes you have to think about where you want your business to go instead of where it currently is. A good assistant can help you get there.