Hire a Virtual Real Estate Transaction Coordinator – Running a property management business can be challenging, especially when your workload starts to pile up as you grow. The National Apartment Association even revealed that 43% of property managers say the amount of work they have keeps them on the busier side.
You may find yourself juggling tenant inquiries, maintenance issues, lease renewals, and on top of all that, real estate transactions. If you’re feeling overwhelmed, it might be time to consider hiring a virtual real estate transaction coordinator (TC). This could be the key to keeping your business running smoothly while also giving you more time to focus on growth.
So, how do you know if hiring a virtual real estate transaction coordinator is the right move for your business? Here are seven signs that it might be time to bring one on board:
1. Your Transactions Are Increasing, and You Can’t Keep Up
If your property management business is growing, congratulations! But with growth comes more work, and managing them all can be overwhelming. A virtual TC can help if it’s hard to keep up with all the paperwork, deadlines, and coordination required to close deals.
Let’s say you’ve recently taken on a new client who owns multiple properties. With each property, there’s a separate transaction process that needs to be managed. A remote coordinator can take on this workload so that each transaction is handled efficiently and nothing falls through the cracks.
2. You’re Spending Too Much Time on Admin Work
As a property manager, your time is valuable. You should be focusing on activities that drive revenue and grow your business. But if you’re spending hours every day on clerical tasks, you’re not using your time efficiently.
Hiring a virtual real estate transaction coordinator can free up your time by taking on these administrative duties. They can handle tasks like managing contracts, coordinating inspections, and communicating with buyers, sellers, and agents. This lets you spend more time on high-impact activities, like marketing your services or expanding your client base.
3. You’re Struggling to Meet Deadlines
Real estate transactions come with strict deadlines, and missing one can have serious consequences. If you’re constantly racing against the clock to meet these deadlines, it might be time to bring in some help. According to STAFFVIRTUAL, giving round-the-clock support is a must to avoid delays in dealings.
You know how stressful it can be if you’ve ever been in a situation where a closing date was delayed because an important document wasn’t submitted on time. An outsourced TC can prevent this by keeping everything on track, so you don’t have to worry about missed deadlines or delayed closings.
4. Your Customer Service Is Suffering
Customer service is a crucial aspect of any property management business. AppFolio found that 70% of property managers believe that a service-oriented culture is a must in the industry. When managing transactions takes up so much of your time that your client service starts to suffer, it’s a clear sign that hiring a remote TC could be the solution.
A TC can handle communication with buyers, sellers, agents, and other parties involved in a deal. They can answer questions, provide updates, and verify that everyone is kept in the loop throughout the process. This level of service can make a big difference in client satisfaction and let you build a strong reputation.
5. You’re Missing Out on New Business Opportunities
When you’re overburdened with transaction management, it’s easy to miss out on new business opportunities. Being too busy to network, attend industry events, or follow up on leads might mean you’re missing out on potential revenue.
Let a remote real estate TC take on the day-to-day management of your transactions. You can then free up your time to focus on things that better your business.
6. Your Work-Life Balance Is Nonexistent
Running a property management business can be demanding, and it’s easy to let your work take over your life. So if you’re struggling to balance work and personal life, bringing on a virtual real estate transaction coordinator could be the answer.
They can take on a significant portion of your workload, letting you regain some balance in your life. With a TC handling the details, you can set boundaries and make time for yourself and your loved ones.
7. You Want to Improve Efficiency and Productivity
Seeking ways to streamline operations and boost productivity means that hiring a virtual real estate TC is a smart move.
If you’ve been manually tracking deadlines and following up with clients, a remote TC can set up automated reminders and task management systems to keep everything organized. This allows you to focus on other areas of your business.
Work with a Virtual Real Estate Transaction Coordinator
Recognize any of these signs? It could be the perfect time to hire a virtual real estate transaction coordinator. Whether you’re struggling to keep up with dealings, missing deadlines, or simply looking to improve your work-life balance, a remote TC can make a big difference.