How VOOV Remote Assistants Can Slash Your Costs
In a tough housing market, reducing costs without impacting your ability to make sales and generate leads is essential.
The National Association of REALTORS® predicts an economic downturn in the 2nd quarter of 2024. The NAR expects the US Real GDP to decrease from 3.5% in the 4th quarter of 2023 to 1.3%.
But we must prepare instead of being worried! In 2024, even NAR’s top economists agree that the US will not face a Real Estate crash.
NAR expects a nice increase in Existing Home Sales in the first three quarters of 2024. We’ll get this bump because experts forecast mortgage rates to decrease after the 2nd quarter 2024.
VOOV’s Virtual Executive Assistants provide nine cost-saving benefits to brokerage owners, real estate managers, and professionals.
List of Cost Savings by Hiring a VOOV Virtual Assistant
1. Lower Labor Costs
2. Big Payroll Tax Savings
3. No Direct Cost for Health Insurance
4. Retirement Plan Cost
5. Savings in Office Equipment
6. Zero Office Furniture
7. No Office Space or Rent
8. Savings in Utilities
9. No Administrative Costs
We compared US labor costs in the Real Estate industry with VOOV virtual outsourcing services and found cool insights.
Discover How a VOOV Virtual Assitant Can Help You Save Operations Costs.
At VOOV, a Real Estate Virtual Assistant is a trained professional who helps Realtors with administrative tasks. Professional on-site managers coach our virtual assistants who work from our offices.
Realtors started our company from the US and Central America. We know the challenges of Real Estate business operations.
We have customer service offices in Virginia Beach, USA, and VOOV operates from Nicaragua, Central America. This helps us save money and provide service in US time zones.
VOOV offers Realtors Three Significant Benefits:
● Over 55% savings in operational costs.
● Convenient US time zone service (Central Standard Time).
● Virtual in-office, fully-managed virtual assistants
VOOV provides Real Estate virtual assistants at affordable monthly fees. The fees range from $1,999 to $2,600, equivalent to $12.50 to $16.25 per hour. By hiring our virtual assistants, you can save both time and money.
Also, VOOV offers fractional virtual positions if you only want services per task. For more information on our fractional services, send us an email here.
For example, we have a Transaction Coordinator service at just $250 per transaction for buyers’ and sellers’ deals.
And for smaller Realtors with basic outsourcing needs, we have our economic service Skill Cloud Staffing. Here, the Real Estate virtual services start at $1,500 monthly ($9.37 per hour). Virtual assistants work from home to provide this service, and VOOV delivers remote quality supervision. Send us an email for more information.
Our best-value monthly fee for a Virtual Executive Administrative Assistant is $1,999 per month or $12.50/hour.
The VOOV Virtual Executive Assistant service saves more than 50% in operational costs. Realtors can save $5,374 monthly with a Virtual Assistant and more with other virtual positions.
This means over $64K per year in actual cost savings!
Graph 1. Cost Savings for Realtors (VOOV Outsourcing)
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Graph 2 shows the various components of United States Direct Labor Costs. These components include labor costs, payroll taxes, health insurance, retirement plans, office equipment, and furniture costs.
Graph 2. Direct Cost Savings for US Realtors
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Graph 3 shows how much money Realtors can save monthly with a VOOV Virtual Assistant. They can save around $1,823 compared to the cost of having a full-time Real Estate Executive Assistant in the US.
The calculation is for a 10-worker office. The office is 100 sq ft. and has a monthly rent of $3,000. The rent includes essential utilities such as power, water, gas, phone, alarm, internet, and administrative costs.
Graph 3. Overhead Costs for US Realtors
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Below, you find a very detailed cost chart. We compare the costs of a Real Estate Executive Assistant in the US to a Virtual Assistant from VOOV.
Chart 1. Costs Comparison – US Employee Costs vs In-office Virtual Assistant (2023-24)
Click to enlarge
In a nutshell, VOOV Virtual Assistants services can deliver you around $5,374 in monthly Labor Direct Costs. You won’t have any costs for Overhead because VOOV has invested in excellent office infrastructure and administrative systems.
Discover how virtual assistants can support your business during challenging economic times and help you save costs. Let’s get started!
1. Lower Labor Costs
According to Indeed.com, in the US, the salary of an experienced Real Estate Executive Assistant is $4,325.
At Keller Williams Realty, the Executive Administrative Assistant’s hourly salary is $27. These labor costs may vary due to local market conditions or seasonal factors. However, they give you a clear idea of how much you can save by hiring Real Estate Virtual Assistants.
VOOV provides a Virtual Executive Assistant for $1,999, saving you 50%. In US states, the savings can be even higher, up to 55% or more.
Hiring a Virtual Assistant reduces the risk of increasing labor-related lawsuits, which benefits business owners. According to Workforce.com, defending a labor case can cost an employer between $75,000 to $125,000.
Realtors can hire virtual assistants through VOOV services and avoid labor issues or legal liabilities.
2. Big Payroll Tax Savings
Another benefit of hiring VOOV is that you can save the 7.65% Federal Payroll Tax for employers.
According to Forbes.com, the federal payroll tax is 15.3%. The employee covers one-half, and the employer covers the other 7.65%. But if you are a sole business owner, you’ll be responsible for a total tax of 15.3%.
So, in the VOOV’s Virtual Assistant example, you can save around $3,970 per year in Payroll Taxes. At VOOV, Realtors pay a monthly fee that includes Nicaraguan labor taxes for virtual workers’ social security.
3. No Direct Cost for Health Insurance
About health insurance, you can save about $722 per month, saving $8,668 per year. With VOOV, your monthly fee includes the Nicaraguan public health coverage for the Virtual Executive Assistant.
4. Retirement Plan Cost
According to the 2021 Kaiser Family Foundation, employer healthcare insurance for one person costs around $7,739 per year (Business.com). Kaiser’s study indicated that employers’ health insurance costs increase by about 4% yearly.
The US’s Affordable Care Act (ACA) can fine employers who don’t provide health insurance to their employees. As stated by ACA, employers with 50+ full-time employees must give health insurance to 95% of them.
5. Savings in Office Equipment
At the VOOV office building, each virtual assistant has a laptop, backup battery, monitors, and headset for better service. By working with VOOV Real Estate Staffing company, you won’t have to worry about buying computer equipment.
According to Dell.com, a top laptop can cost around $2,850 plus $110 in essential computer accessories.
6. Zero Office Furniture
Our VOOV office provides electric desks and comfortable chairs for our virtual workers to boost productivity. A regular desk in the US typically costs around $300 and a chair $69.
Virtual Assistant at VOOV with ergonomic desk
When you need to grow with more labor-productive workers, with VOOV, you won’t have to spend funds buying office furniture. Imagine you need three Virtual Assistants to handle your leads, admin tasks, and appointments. Hiring VOOV will save $1,107 plus all required office supplies.
7. No Office Space
According to PriceItHere.com, you can expect to pay rent from $500 to $3,000 per month for a small office of 100 to 500 square feet.
A medium-sized office can cost between $1,000 and $5,000 per month. The size of the office ranges from 500 to 1,000 square feet. The cost depends on the location of the office.
Hire VOOV’s virtual assistants to grow your business without extra rent or a crowded workspace. In a 10-person office with a $3,000 monthly rent, hiring a virtual assistant can save about $3,600 per year.
With VOOV virtual outsourcing, you pay zero rent. You could create a virtual office with appointment setters or marketing experts to get more leads.
You can keep growing when your Real Estate competitors are downsizing!
Book your free call, and we’ll share with you our outsourcing expertise.
8. Savings in Utility Costs
You can save $44 per new employee every month on utility expenses. At VOOV, our monthly virtual service fee includes these utilities: power, water, gas, phone, Internet, and security alarm. In a year, you can save per new worker $533.
VOOV helps you grow and save money simultaneously because we provide the utilities for the work of our virtual assistants.
We estimate the typical utility monthly expenses to be about $444. So, if we divide this cost by ten people in a small office, we get $44 per new employee (Forbes.com).
9. Less Administrative Costs
For Administrative Costs, we use the example of having 1 Office Manager, 1 HR manager, and one office supervisor. The Office Manager would earn $7,417 per month. The HR manager $4,468 and the Office Supervisor $2,896 per month. These are salary figures provided by the platform Indeed.com.
So the sum of these salaries is $14,781. If we divide that figure by ten office employees, we get $ a cost per new employee of $1,478.
Key Takeaways
VOOV’s Virtual Assistants provide an excellent and affordable choice for Real Estate companies dealing with complex or expanding markets.
The NAR predicts an economic downturn in 2024. Therefore, the VOOV’s cost-effective service becomes even more valuable.
Realtors can save $66K per year by using VOOV’s unique system. This system reduces labor costs, taxes, insurance, office expenses, and other operational costs.
