Any real estate agent understands the age-old adage of “time is money” and “time wasted is time lost.” These quotes are not just for show, though. They teach us the value of time and money. In the fast-paced realm of the real estate industry, real estate agents need to step up or lose out. Fortunately, real estate assistants are here to the rescue. They play a pivotal role in easing a real estate agent’s life, taking care of everything from administrative to customer service tasks.
But with external factors like location, skill sets, and the experience level of a real estate virtual assistant, establishing the best virtual assistance rate or salary range can be tricky. Don’t worry, this article includes the average salary ranges of a Filipino VA, so you can create an appropriate hiring budget for your real estate business.
In-House Vs. Outsourced Real Estate Virtual Assistant
Is an outsourced real estate virtual assistant better than an in-house assistant? While people think the former is better due to reduced costs, there’s no clear-cut answer to this question because your decision to outsource or hire in-house depends on your business needs. Below, let’s tackle the pros and cons of each one.
Pros of An In-House Assistant
1. Sense of Control
Every day, you meet and talk with your in-house executive assistant in the office. Because of your assistant’s proximity, monitoring their productivity levels and performance becomes easier.
Face-to-face contact also fosters a better sense of collaboration between real estate professionals and in-house assistants. Plus, in-house employees can easily adapt to your workplace culture. Training and providing feedback is much easier, as well.
2. Real-time Communication
Modern workplaces are equipped with advanced communication tools. But — as mentioned earlier — the beauty of in-house hiring lies in face-to-face interactions. This allows real estate professionals to brainstorm and work with their assistants without delays, technical difficulties, or communication lapses.
3. Increased Confidence In Data Privacy
Offices implement strong security measures to preserve the confidentiality of sensitive data. With such measures, the chances of data leaks and privacy breaches happening are slim.
Cons of An In-House Assistant
1. High Overhead Expenses
While in-house assistants are an investment, they are expensive. As a real estate agent, you cover not only their monthly salaries. You also shoulder the cost of additional office spaces and equipment, training, and employee benefits. For small real estate business owners or real agents looking to cut costs, in-house hiring is a risky investment.
2. Flexibility and Scalability Issues
With in-house assistants, scaling your business according to demand is difficult without making significant adjustments to your internal team. In case of skill shortages in your real estate business, you may need to bring in new external hires — which costs money.
Pros of An Outsourced Real Estate Virtual Assistant
1. Better Scalability and Flexibility
Most virtual assistants are independent contractors or freelancers engaged in remote work. Because outsourced virtual assistants don’t come with the near-permanent tenure of in-house employees, real estate professionals can easily hire virtual assistants for real estate during demanding workload periods or peak seasons.
2. Reduced Overhead Costs
A virtual assistant works in the comfort of their home, meaning they already have the necessary equipment to do their job. For real estate professionals, this is a blessing since they don’t have to invest in office spaces, equipment, and employee benefits.
With the global demand for virtual assistant services and the ubiquity of virtual assistants, real estate agents can access a vast pool of talent at their fingertips. If they, for example, hire a Filipino virtual assistant, real estate professionals can enjoy an all-in-one package that promises cost-effective virtual assistant services, high English proficiency, and cultural compatibility.
3. Better Access to Specialized VAs
An in-house administrative assistant requires training to keep up with market demands. Real estate agents can save money by hiring a specialized Filipino virtual assistant for real estate. Virtual assistants with specialized skills don’t need training, so they can jump right into their job and complete tasks with minimal supervision. Plus, they bring in industry insights that can change the trajectory of your real estate business.
Cons of An Outsourced Real Estate Virtual Assistant
1. Language Proficiency
Did you know that VAs can succeed without being fluent in English? Some real estate professionals don’t care about their virtual assistant’s English proficiency level. But let’s get one thing straight — English fluency is an edge.
Poor English communication skills increase the likelihood of miscommunication and misunderstandings during meetings or feedback sessions. Fortunately, most Filipino virtual assistants are fluent in English. Thanks to their neutral accent, real estate professionals need not worry about overcoming language barriers.
2. Security and Privacy Issues
Real estate agents handle sensitive client information. If confidential data falls into the hands of a hacker or malicious virtual assistant, they can use it to perform fraudulent transactions, breaching customer trust.
Hiring an overseas real estate virtual assistant comes with a higher risk of security and privacy issues. You don’t have much control over how they store and process client data. Outsourcing virtual assistant services to the best BPO companies or property management companies is your best bet, as they employ solid data security measures to safeguard customer information from cybercriminals.
3. Timezone Incompatibility
Real estate professionals value real-time communication and collaboration. Hiring a foreign real estate VA can lead to incompatibilities in working hours. If not negotiated or established early on during the hiring process, timezone incompatibilities can cause delays in communication and turnaround times and dips in productivity.
Hence, it’s recommended to hire a real estate virtual assistant who can align their schedule with yours. Outsourcing companies make good choices, too. They provide round-the-clock virtual assistant services that help streamline your daily business operations, ensuring productivity and smooth turnaround times.
What Is the Real Estate Virtual Assistant Salary Philippines?
Virtual assistance is a lucrative career. However, how much money a virtual assistant earns depends on their location, niche, skills, expertise, and experience level. The Philippines has a lower cost of labor, so the country’s average VA salary is understandably cheaper than in Western countries.
If you’re hiring a virtual assistant from the Philippines, here’s a primer on the average salary ranges according to level of seniority.
1. Entry-Level Real Estate Virtual Assistant
An entry-level job implies the virtual assistant has one to two years of work experience. In the Philippines, the average salary of an entry-level Filipino real estate virtual assistant ranges between ₱17,000 ($292) to ₱20,000 ($344) each month — though the numbers can go as high as ₱25,000 ($430) to ₱38,000 ($654) a month, according to Glassdoor. In the United States, entry-level real estate virtual assistants earn a monthly average income of $3,708 (₱215,408) to $4,050 (₱235,276).
2. Mid-Level Real Estate Virtual Assistant
Boasting at least three to six years of experience, a mid-level virtual assistant is expected to have a deeper understanding of the real estate industry and a stronger grasp of VA skills. Filipino mid-level real estate VAs earn an average of ₱31,883 ($548) to ₱41,500 ($714) every month. As much as possible, avoid paying ₱20,000 ($344) to a mid-level real estate VA. US real estate VAs, on the other hand, take home $4,916 (₱285,585) to $6,633 (₱385,330) a month.
3. Senior Real Estate Virtual Assistant
With more than five to six years of work experience, senior real estate assistants have amassed a wealth of industry knowledge and skills. Senior real estate VAs in the Philippines earn a monthly income of ₱50,475 ($868) to ₱70,000 ($1,204). Meanwhile, US senior real estate VAs receive $6,633 (₱385,330) to $8,116 (₱471,482) — even as high as $9,700 (₱563,502).
What Are the Factors That Influence Real Estate Virtual Assistant Salary Philippines
It’s important to remember that the above salary ranges are just rough estimates. Before building a salary range, take into account the following factors:
1. Education Level
In the virtual assistance industry, success is not determined by college degrees or certifications. Many virtual assistants earn salaries that rival or surpass most professions. Still, you should consider an assistant’s education level when building a pay grade.
A Filipino real estate virtual assistant with a bachelor’s degree in finance, business, or marketing can command a higher monthly pay grade (₱56,175) than a virtual assistant with a high school education (₱28,366).
2. Task Complexity
What will your Filipino real estate do when hired? Complex job responsibilities such as market research and customer relationship management (CRM) involve specialized skills, and therefore, require a higher rate than general virtual assistant tasks.
3. Bonuses and Incentives
These are optional. But if you want to give bonuses and incentives, you need to include them in your budget. Examples include:
- Performance-based incentives
- Sign-in bonus
- Annual bonus
Where does the 13th-month pay come in? If your real estate business doesn’t operate under Philippine jurisdiction, you’re not legally mandated to pay your Filipino real estate VA with 13th-month pay. In short, it’s optional. However, you may provide 13th-month pay to show your gratitude and appreciation to your Filipino virtual assistant.
4. Local Economy
The economy also influences salaries. As much as real estate professionals want the best for their virtual assistants, it’s not always possible — especially in times of economic crises.
During the pandemic, for example, the prices of property in the Philippines fell steeply by 10% to 20%. This was heightened by desperate property sellers trying to profit in an unstable market, lack of financial stability, and job loss.
While the country’s real estate industry rose to its former glory, there’s no denying the ripple effect of economic issues and world crises. Both of which contribute to lower salaries, mass layoffs, and downsizing.
What Are the Green Flags In A Real Estate VA?
While scouting for the right real estate virtual assistants, here are the traits you should look out for when screening or interviewing a candidate:
1. Positive Reviews
Positive reviews are a testament to a candidate’s work ethic and the quality of virtual assistant service. Any reviews related to breach of confidentiality, low-quality work, and unprofessional behavior indicate that the real estate VA is unreliable when handling data and completing tasks.
Hiring virtual assistants without reviews is a gamble, though. Of course, it doesn’t mean they make a bad VA. It’s risky on your end, but a thorough screening can help determine if a no-review candidate is the right fit.
2. Good Boundaries
Believe it or not, but a Filipino real estate virtual assistant with good boundaries is good for your business. After all, you can’t expect them to work 24/7 for the whole year. If a Filipino VA informs you they’ll be on a five-day vacation, take it as their sign to recharge and spend time with their loved ones. This way, your VA won’t be burned out from their tasks, which helps improve their productivity and mental health.
What Are the Red Flags In A Real Estate VA?
There are bad apples out there. Keeping an eye on the following red flags helps you make better hiring choices:
1. Poor Pricing
Does the Filipino virtual assistant offer subpar virtual assistant services at a high price tag? As a real estate business owner, that’s a no-go. Read your candidate’s review and check their portfolio — especially if they specialize in real estate graphic design or content creation — to ensure the quality of their services matches their rate.
Virtual assistants with dirt-cheap prices are questionable. Whether they’re not good at their job or are trying to attract clients, it’s best to approach them with caution.
2. Lack of Industry Knowledge
The real estate industry is complex, but it doesn’t mean a candidate has to be a complete expert. A Filipino virtual assistant with poor industry knowledge means they can’t provide deep insights or make sound business decisions. Before hiring a Filipino real estate VA, consider quizzing them on industry-specific tidbits to gauge their familiarity with real estate.
Hire Filipino Real Estate Virtual Assistants At Lower Costs
We hope our salary guide for real estate VAs has helped you charge better rates and manage your budget expectations. If you’re at a loss for where to find the right virtual assistant, choose KDCI Outsourcing.
Headquartered in the Philippines, KDCI Outsourcing provides state-of-the-art outsourcing services with the goal of driving success, cost-effectiveness, and streamlined operations to its foreign clients — which include Cedar Management Group, Spreetail, and Softonic.
Powered by advanced technologies and backed by a team of real estate professionals, the company’s real estate services promise security, optimization, and real-time support for your business.
Ready to outsource real estate services? Leave it to KDCI Outsourcing. Contact us now!
