Top 10 Reasons to Fire Yourself as Transaction Coordinator and Delegate Your Way to a Raise!

Top 10 Reasons to Fire Yourself as Transaction Coordinator and Delegate Your Way to a Raise!


10. You want to reduce and control operating costs. You know that you are ready for a transaction coordinator but aren’t ready for the huge expense a full-time employee may cost. You should not be working harder just to make payroll, try outsourcing.


9. You are ready to improve the focus of your business. As a Realtor most of your business comes from referrals through your networking, prospecting, and farming efforts, not the fax machine or filing cabinet. With that said, your time is better spent on activities that generate business transactions.


8. You want the very best for your clients. Outsourcing can give access to high-level coordinators that have successfully handled thousands of transactions. Hiring and managing a full-time transaction coordinator is expensive. Hiring a team of transaction coordinators with years of experience is beyond most companies means.


7. You’d like to spend more time on other passions you have such as volunteering. Many of our clients regularly spend time on various boards and volunteering at local agencies. In addition to giving back to their community, they have also grown their business through these activities. Having a TC on their team gives them more time to be of service in their community.


6. You would like to free up resources for other purposes. By controlling the costs and most importantly the time associated with managing a transaction your resources can be better used to increase marketing and other revenue-generating activities.


5. You need help but don’t have time to train someone to do things the way you want them done. Hiring an assistant to help you is an excellent way to grow your business, most, however, don’t have the systems or training in place to make it successful for both parties. Hiring a transaction coordinator like our team with systems and experience can save you time and money.


4. You’re new to the business and know that you could use the help of an experienced coordinator to “coach” you through the process. The “School of Hard Knocks” is not the best way to learn especially when so much is at stake for your clients. Having someone guide you through the process can make a HUGE difference in the outcome of most transactions.


3. You’re looking for an edge in the marketplace. Your clients are tech savvy but you aren’t sure how to bring more of that to your clients after contract. Our transaction coordinators utilize a software program where invited participants can view the transaction and documents. This can save you money by not having to purchase expensive software or investing the time it takes to learn and customize something new.


2. You are ready for a raise! Spending too much time on administrative duties or the ever-consuming time spent waiting for an enail or return calls reduces your bottom line. Have someone else handle those items and increases your per hour pay rate immediately.


1. You would like a day off! There is nothing wrong or selfish about taking time for you, in fact; it’s good for the soul and will probably increase your productivity. However, taking time off without sufficient coverage is deadly in any business. Having a transaction coordinator on your team can make taking a day or two or even a week off a breeze.

Call us
Christine Matus PA
561-598-1268
www.christinematus.com

The Beginner's Guide to Using a TC

Tips and Tricks to make the most out of your partnership

Including a Transaction Coordinator (or "TC") into your business can be one of the most financially beneficial decisions you make in your career. A fine-tuned workflow created between you and your TC can result in more time for lead generating & money making tasks as well as increased customer satisfaction & client referrals. Of course, the opposite effect would take place if you and your TC aren't in sync or even a good match. One of the best ways to make sure "it's not you" is to follow the steps in this beginner's guide below.

https://www.thetcadvantage.com/single-post/BeginnersGuidetoTCs

Questions to Ask Yourself Before Hiring a Transaction Coordinator / Virtual Assistant

Because the Transaction Coordinator/Virtual Assistant industry is growing so rapidly there are now several to choose from.

And because clients work so closely with their Transaction Coordinator/Virtual Assistant it is very important to find one that is a perfect fit for you. If you ask yourself the right questions and respect your answers you will be on the right path to choosing your perfect TC/ VA.

Here are just a few questions to ask yourself when choosing a Transaction Coordinator/Virtual Assistant:

• What is your personality type?

Are you a Type A that works well with other Type A personalities or do you need a more laid back person to work with? Or are you relaxed and need a Type A personality to keep you on track, on time and organized? Think about what type of person energizes you and consider a TC/ VA that compliments that.

• What is your communication style?

Are you a quiet person who doesn’t like to talk every day? Or are you better served by a daily or weekly phone call to connect? If you are chatty, don’t partner with a TC/ VA that prefers to be less-than-chatty. Neither one of you will be happy.

• How often do you like to communicate?

Do you like to email 5 times a day, once a day, once a week? How much communication do you want from your TC/ VA? Do you like to chat on the phone? Do you hate the phone and prefer email? Maybe using Skype to communicate is more your style. It’s important to find a TC/ VA that matches that style. Trust me; you don’t want to receive 20 emails a day from an “in-touch” TC/ VA if you prefer less but more focused communication. It will drive you both crazy in no time.

• What kind of commitment do you want?

Do you have a ton of on-going projects and want a retainer agreement where you and your TC/ VA commit to a predetermined amount of hours per month? Or at this point in time do you have small projects that you need minimal help with and just want to pay by the project or via packages? Save yourself time and determine this up front.

• How involved do you want your TC/ VA to be in your business?

Do you want him/her to brainstorm marketing ideas with you, rehash your business plan? Or do you have a preference for someone who will simply submit your work on time and keep your business admin tasks completed? Don’t partner with a TC/ VA that has no involvement in mind or you’ll find yourself unhappy. Likewise, don’t ask a TC/ VA whose preference is to simply complete projects and email them to you to collaborate on an advertising campaign.

• What kind of work style do you prefer?

Do you prefer a more structured work style? Do you like pre-determined meeting times? Or can a spur-of-the-moment phone call work for you? You’ll be much happier to partner with a TC/ VA that has the same work style as yourself.

• How important it is for you “click” with your TC/ VA?

Ideally, we all click to a degree with the professionals we hire, such as our accountant, lawyer, etc because we want to give our money to someone we trust and like. However, it’s crucial to really click and connect with your TC/ VA because they’ll become a partner in your business. Depending on your arrangement and needs, you could expect to talk with them daily. Some people prefer to have the expertise the TC/ VA offers and can manage without a personal connection and other business owners need the connection first and realize the TC/ VA can learn the skills necessary. Think about what would work best for you.

• What kind of importance do you give certifications and associations?

Do you want your TC/ VA to have a long list of official certifications or belong to a list of associations? If that’s important to you, there are TC/ VA's who hold several certifications and belong to many associations. Not holding a certification doesn’t mean a TC/ VA isn’t qualified and professional but it might be something you want to consider.

• Do you mind if your TC/ VA subcontracts to other TC/ VA?

Many TC/ VA's make it a common practice to subcontract work out, and if they do, you should be ok with that. Do you prefer just one person to work on your projects? Do you care if other people manage your projects so long as your TC/ VA gives it the final approval before sending it on to you?

• And last, but certainly not, least – do you trust your gut?

Easier said than done. But once you talk to someone, communicate with them several times, get the responses you are looking for – then see what your gut tells you and go with it. You’ll be on your way to a successful relationship with your new TC/ VA.

Just a few simple questions can prevent a lot of misunderstanding and wasted time. If it works out perfectly, you’ll have a partnership that will benefit your business for years to come.
www.ChristineMatus.com

Top 10 Reasons to Hire a Transaction Coordinator

1.  Improved Focus on business building Activities.

You are ready to improve the focus of your business. As a Realtor, most of your business comes as referrals thru your networking, prospecting and farming efforts, not the fax machine or filing cabinet. Your time is better spent on activities that will help you to grow your business, not administrative work.

2. The very best for you and your clients.

You expect nothing but the very best for your clients. Outsourcing can give you access to high-level coordinators that have successfully handled thousands of transaction. Hiring and managing a full-time transaction coordinator is expensive. Hiring a team of Transaction Coordinators with years of experience is easy. Call us, Christine Matus PA 561-598-1268

3. Reduce and/or control Operating Costs.

You want to reduce and control operating costs. You know that you are ready for a Transaction Coordinator but aren't ready for the huge expense a full-time employee may cost. By controlling the costs and more importantly the time associated with managing a transaction, your resources can be better used to increase marketing and other income producing activities.


4. Personal Time to pursue other passions.

You’d like to spend more time on other passions you have like volunteering. There is more to life than Real Estate! Many of our clients regularly spend time on various boards and giving back to their communities, they have also grown their business through these activities. Having a Transaction Coordinator on their team gives them more time to be of service in their communities.

5. Increased Sales and Business Revenue.
You want to increase your sales and revenue yet are worried about being able to keep up with the demand. You are already busy, imagine what your life will look like if you increase your sales volume….by double. Well without help you’ll likely burn out. With a transaction Coordinator on your team, you can confidently handle more sales without compromising your quality of life.

6.  No time to train a New Transaction Coordinator.

You NEED HELP and don't have time to train someone to do things the way you want them done. Hiring an assistant to help you is an excellent way to grow your business, most, however, don't have the systems or training in place to make it successful for both parties. Hiring a Transaction Coordinator gives you access to tested systems and experience which can Instantly save you time and money.

7.  New to the Real Estate Business and ready to Succeed.

You’re new to the business and ready to SUCCEED. You know that you could use the help of an experienced Transaction Coordinator to “coach” you through the process. The “School of hard knocks” is not the best way to learn especially when so much is at stake for your clients. Having someone guide you through the process can make a HUGE difference in the outcome of most transactions.

8. You want to give yourself a raise.

You are ready for a raise! Spending too much time in administrative duties or the ever consuming time spent waiting on a fax or return call reduces your bottom line. Have someone else handle those items increases your per hour pay rate immediately. It’s estimated that it takes more than 20 hours of work to go from contract to close. A Transaction Coordinator can save you more than half of that time for a fraction of what you should be paying yourself.

9. It’s time for a much-needed vacation.

You would like a day off! There is nothing wrong or selfish about taking time off for you, in fact; is good for the soul and will probably increase your productivity.However, taking time off without sufficient coverage is deadly in any business. Having a Transaction Coordinator on your team can make taking a day or two or even a week off a breeze.

10. Leverage, Leverage, Leverage.

You have big ideas, BIG DREAMS, and like everyone else only 24 hours in a day. You can’t do it alone, no one who has accomplished greatness ever has. Building a Team will help you leverage your time and give you the freedom and resources to reach your dreams. Dream Big, I’ve got you covered.

Call me Today! Christine Matus 561-598-1268

(Humor) Top 5 Reasons NOT to Hire a Transaction Coordinator/ Virtual Assistant

Transaction Coordinator/ Virtual Assistant are becoming popular in the Real Estate realm. Here are a few reasons why you should not hire one.

1. You are a Jack of all trades and a master of none. You don’t care about the quality of work or service you provide to your clients or the business image you project with your unprofessional documents and work. You are happy taking on the job of 4 or 5 people even if it results in half done projects. A virtual assistant can take a number of mundane or specialty tasks off you so that you can focus on managing your business effectively.

2. You are a glutton for stress. You thrive on stress and will rather go without vacations, downtime or quality time with your loved ones. You enjoy working when you are ill and run down. Your aim is to burn yourself out while working round the clock and you love to sweat the small stuff. A virtual assistant can take on your overflow work or cover your business during vacations or sickness. You can hire them for ongoing projects or one-shot projects.

3. Who cares about money anyway? You are a small or mid-sized business owner who would rather hire full-time staff to cover seasonal or part-time positions. You are happy to pay your staff even if their workday activity allocation is similar to the example below:

• Daydreaming – 20%
• Keeping in touch with family and friends – 30%
• Online shopping – 10% (20% at Christmas)
• Pay personal utility bills - (5%)
• Office discussion group on latest reality show – 25%
• Performance according to job-description – 10%  (75% when the boss is in the vicinity)
• Virtual assistants are only paid for the work they do, not the work they don’t do.

4. You would rather use office space and equipment inefficiently. You appreciate dust-gathering office furniture and office equipment that would not operate themselves. Virtual assistants work out of their own fully furnished offices and are able to provide finished projects to you whether you are on a cruise in the Bahamas or at your home office.

5. You aspire to receive an award from your local chamber of commerce in recognition of your efforts in one or more of the above-listed points.

Enjoy the humor intended in this article, but thoroughly consider and explore ways in which a Transaction Coordinator/ Virtual Assistant can partner with you for success.
www.ChristineMatus.com

Why a Transaction Coordinator/Virtual Assistant is Better than Hiring an In-House Office Assistant

Kudos! Your business is growing and you have decided it is finally time to hire an Office Assistant.

Why a Transaction Coordinator (TC) /Virtual Assistant (VA) is Better than Hiring an In-House Employee. Before writing up your recruitment ad, consider the advantages of outsourcing.

• A (TC)/(VA) is a highly-skilled, independent professional who remotely provides administrative, technical and/or creative business support services

• With a (TC)/(VA), you save money as you don’t have to provide office space, furnishings or equipment. Every VA works from their own office environment.

• With a (TC)/(VA), you don’t have to worry about coordinating work schedules. Simply send off the work to be done with a due date.

• A client only pays for the actual time a (TC)/(VA) spends on completing the task. No money spent on bathroom visits, water cooler chats, or coffee breaks.

• When hiring a (TC)/(VA), there is no need to pay for fringe benefits like health insurance, vacation pay or employer wage deductions. A (TC)/(VA) takes care of all their own overhead costs.

• In-house staff will probably require training. A (TC)/(VA) is already proficient with the latest tools and technology to do the job.

• As an independent business owner themselves, a (TC)/(VA) has the ability to see the bigger picture. Unlike an employee, a (TC)/(VA) knows and understands the challenges of running a business.

• A (TC)/(VA) invests in their own business and has the software available to complete projects. A client can save money by not having to use their funds to purchase software for every new project.

• (TC)/(VA) have a resource pool available to call upon. If there is a time constraint, they have access to numerous connections which can be called upon to complete the job.

• Commuting is never a problem with a (TC)/(VA). Your work will get completed even during the worst weather. No downtime due to traffic accidents, construction or vehicle emergencies.

• As each client relationship is protected with a Confidentiality, you can be confident in the integrity of your (TC)/(VA) and don’t need to worry about confidential company information being leaked at the water cooler.

When working out the true costs of hiring an employee versus outsourcing to a Transaction Coordinator/Virtual Assistant, a client not only benefits by having a more qualified, more experienced professional on hand, but once the math is done, the (TC)/(VA) often comes in at a lower price! www.ChristineMatus.com

Why 83 percent of real estate agents become irrelevant after handing over the keys

As technology improves, targeting and following up with clients is easier than ever

One of the major reasons homeowners do not rehire their real estate agent is that they simply cannot remember their agent’s name. A dismal 17% of homeowners actually use their agent again, according to a consumer panel at Real Estate Connect San Francisco.

Real estate agents are on the go, busy, and do not have the time to regularly follow up with clients. Delivering relevant, real-time and personalized information to clients is a full-time job in itself. With targeted advertising becoming the norm for advertising across all industries, real estate must adapt as positive client relationships drive success.


Enhancements in mobile technology are making it easier than ever to better target clients and follow up. Mobile is the primary reason Facebook has been able to turn its ad network into a money-printing machine. Real estate agents must get serious about mobile if they want to thrive in the modern market. Specifically, the millennial generation is going to become more prominent over the next decade. Agents need to move beyond email blasts and postcards targeted at their entire audience to target the needs of individual consumers. Making information relevant at an intimate level is a sure way to maintain relevance among clients.

How do you even know what clients want to hear? What is it going to take so that information you send to them does not go in one ear and out the other?

Ask clients what they want to hear

There are a plethora of free online survey tools to send clients and gauge topics they want to know. Agents tell me clients are always asking for a service provider referral, what is selling in the neighborhood, and whether it’s a good time to refinance. These are only a few, but I am confident providing actionable information to your clients is a great way to keep them engaged. Moreover, as an agent, you become your clients' trusted source for local real estate news and updates.

Get serious about analytics

Analytics are the future of real estate marketing and in turn, will ultimately save you money. Understanding how your clients are looking at real estate data is critical to improving the entire client-agent experience. This will allow you to understand how your clients behave, translating directly into actionable data for you.

Diving deeper into what communication channels each client prefers will allow you to build a more intimate experience with each of your clients. For example, it does not make much sense to continue to send direct mail to clients who prefer digital communication and despise direct mail. Therefore, you focus on delivering the best digital experience for that client and save the money associated with mailings.

Overall, relevant, mobile, real-time and actionable data is the future of real estate content and marketing. Keeping clients informed when they want to be is critical, and ultimately will help 83% of agents stay relevant after handing over the keys.

Cost Comparison: Full-Time Employee versus Transaction Coordinator/ Virtual Assistant

Want to SAVE over $60,000 in business expenses this year?
A cost comparison for a full-time employee versus a Virtual Assistant


Although the Transaction Coordinator/ Virtual Assistant’s hourly rate is more than the employee’s rate, you save the cost of benefits and overhead that would have to be applied to the new employee’s wage. And, because Transaction Coordinators/ Virtual Assistants are usually more experienced, more efficient, and better connected than the employee, you’ll need to devote far less time to the project to get the same results, only 480 hours a year versus 2,080 for the new employee.

Remember, with a TC/ VA you only pay for the time on task! No more paying for socializing, hour long lunches or frequent trips to the washroom. Your employee’s 8 hour day can be crunched into 3-4 hours. Simply put, a Transaction Coordinator is more cost-effective.

Good selling requires.....

A good salesperson builds trust and confidence with their customers and clients. One way to do this is to demonstrate expertise. The more you know about your product or service (and share with your customer), the more your customer or client will trust in your abilities. Trust builds loyalty. Trust and loyalty leads to sales.

Knowing how to explain all aspects of the offer to purchase and the myriad of forms and disclosures required by law, including agency.

Both written and oral. The better you communicate, the better you will be at selling. Remember, communication is a two way street. It is important to listen. If the three most important words in real estate are "location, location, location," the three most important words in communicating are "listen, listen, listen."

Effective communication will allow you to build rapport. Rapport leads to trust and trust builds loyalty. Trust and loyalty leads to sales.

One of the biggest consumers of time in any sales business is prospecting, and prospecting usually produces no immediate results. Prospecting is all about contact with people. Contact with people creates opportunity. Said another way, contacts create contracts. If you are in a sales slump, increase the number of new and existing contacts each day by 20%... you will see results within 60 days.

There are many ways to prospect.

• Develop relationships with individuals who have access to many people and refer business to them in return for referrals. Examples: Tax preparers, insurance agents, plumbers, and others whose services you use and to whom you refer business.

• Participate in online communities.

• Ask for referrals..."have I done everything to earn your referral business?"

Make it positive. Motivate yourself to look for the silver lining in all events. "Attitude determines altitude."

Always do what you believe is in the best interest of your client. Your interests will take care of themselves.