How to increase market share during the HOTTEST housing market in 14 years

Since 2006, sales for existing homes during 2020 reached their highest level. Prompted by the pandemic, more Americans are seeking larger living spaces as they adopted work-from-home policies.

According to the NAR, we will expect the strong activity to continue in 2021 as:

1. Mortgage rates are near record lows, at around 3%
2. Economic conditions are improving with stimulus packages & vaccine distribution.

A Hot Buy for the Housing Market

Original Story: Link

10 Quick trends, according to NAR:

1. The end of 2020 saw less houses on the market, with a trend of residents leaving cities for suburbia.
2. The total housing inventory at the end of December 2020 totaled 1.07 million units (down 16.4% from November & 23% from the same period in 2019).
3. Properties on the market for just 21 days on average in December 2020, nearly half the time than during December 2019.
4. 70% of the properties sold in December 2020 only remained on the market for less than a month.
5. First-time buyers made up for 31% of sales in December 2020.
6. Individual investors or second-home buyers were responsible for 14% of homes sales in December 2020.
7. The median price for existing homes of all housing types in December 2020was $309,800 (up 12.9% from the same period last year).
8. Prices increased in every region in the country.
9. The West was the most expensive region (median price of $467,900).
10. The Midwest was the least expensive region (median price of $235,700).

The shift to virtual

Virtual assistants can be used to set up appointments and have it all ready before an agent arrives — saving time by keeping it on schedule and being able to keep a close eye on their online presence, as opposed to being tied into the physical office. The first step to using a virtual assistant is to do the proper research and vet which ones are best for you.

[Considering a Virtual Assistant?]

When hiring a virtual assistant, it’s important to set your expectations as well. It’s also important that you have clear goals in mind and communicate it to the agent before hiring them. This will help them understand what you need so they can meet those needs and goals too. Make sure they are checking in on how everything is going every day so they can hear what everyone needs and draw up on tasks accordingly. Also send out a work list at the beginning of each week to get their attention when needed — these are things that need to be done during certain days of the week, like if you want responses on listings in an hour or listing details completed for an upcoming deal.

Virtual Real Estate: How a productive marketing team in 2021 looks

Don’t box yourself! Outsourcing opens up your world to talent that’s more affordable and probably more fit with your needed skill sets, saving you tens of thousands from additional office space, and other significant expenses related to in-house hires.

“Outsourcing makes the hustle better — because you’re not burdened with many/growing expenses that you’ll need to figure out how to cover and hit profit”

Growing Your Business With A Virtual Real Estate Transaction Coordinator

As a real estate professional, you’re already familiar with what a transaction coordinator does, and why it’s crucial to your real estate business. Staying on top of administrative TC functions — like overseeing the escrow process — is essential to your success.

You can be more effective in real estate if you’re not bogged down by paperwork, repetitive administrative tasks and troubleshooting bureaucratic red tape delays and issues. A virtual transaction coordinator can take care of these tasks and ensure that sales paperwork and its administration run smoothly and your clients are receiving excellent customer support.

With a virtual transaction coordinator, you can become more efficient & effective in your role of selling homes — while your transaction coordinator handles all the repetitive tasks involved with closing a transaction — like gathering documents and signatures, calling clients, and stakeholders, completing paperwork, following up on contracts & requirements, and putting together a broker file for each completed transaction.

Sample tasks for your virtual transaction coordinator include:

• Goal setting — review goals and schedules to provide progress updates and help you stay on task
• Seller/Buyer prospecting and servicing — complete required paperwork, gather estimates, and help find/choose service providers
• Escrow management — open escrow and coordinate the many necessary functions of this process through closing
• Documentation management — draft routine documents (i.e. Seller’s Disclosure Packet, addendums, waivers) and review forms for accuracy, signature verification, and missing information
• Transaction and closing coordination — manage the cumbersome appraisal, title/escrow and mortgage loan processes
• Client coordination and communication — operate as a point of contact for your clients to ensure their needs are met and they receive the attention they deserve throughout the buying/selling process
• Scheduling coordination — oversee scheduling for clients, service providers, and lenders to help ensure essential tasks are being completed
• Research — perform background and inquiry tasks, as needed
• Tailored support — provide administrative support personalized to your specific requirements

In addition, MyOutDesk Virtual Assistants can also:

• File & systematize information collected for client documentation
• Input & sync data collected across multiple software systems
• Perform third-party verification procedures for loan-level data
• Coordinate personal & administrative tasks
• Manage calendar & appointments
• Coordinate travel arrangements
• Complete orders & fulfillment
• Solicit & nurture 5-star client reviews
• Process client documents & follow-up accordingly for incomplete information
• Assemble agent audit reports
• Compile, format, and summarize information for documents and presentations
• Coordinate website & account configuration necessary for loan processing
• Team task management

…and so much more.

Focus on your growth & scale your operations

ENVISIONING OF A NEW REALITY FOR YOUR BUSINESS

Simply put, MyOutDesk equips entrepreneurs & business owners with tools, strategies, and virtual employees — and when combined, businesses have a competitive edge and find growth while efficient systems and processes are put in place.

MyOutDesk proudly provides additional free business growth guides, books, and strategy calls.

See what we are about, and schedule a free consultation with us. We’ll take the time to learn more about your business and offer solutions to foster top talent and lower operational costs for your company.

Experience The Difference
MyOutDesk can save you up to 70% on employment cost
Claim a free business strategy consultation & ‘Grow Virtual’ Guide

Did You Know? MyOutDesk’s origin story is set during the last global financial crisis of 2008. Yes, that’s right — our business started by scaling businesses with virtual assistants during a recession! Pioneers of virtual assistant services, our first client in 2008 went from five to seventeen VAs with a completely revamped organizational model in short order, and he told MyOutDesk, “Our virtual professionals have shaved $250,000 off our monthly overhead.”