RE Outsourcing Guide

REAL ESTATE
OUTSOURCING
comprehensive guide
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What is real estate outsourcing ?
Outsourcing can be used by any company in any industry. It is an effective way of
distributing workloads to a person who sits outside of the company, usually on a
contract basis. This is a practice of delegating tasks to a service provider.
The evolution of outsourcing has led to a wide variety of available services
today. There are many different types of outsourcing that can increase a
business’s productivity and reduce costs. It can be divided into several main
categories:
IT Outsourcing
Manufacturing Outsourcing
Professional Outsourcing (accounting, legal & other specialized services)
Business Process Outsourcing (BPO)
Real estate industry is a highly competitive one that takes the advantages of
outsourcing to improve productivity and increase profits. With the continuous
growth of technology and the internet, bountiful options have been made
available for real estate professionals to outsource their tasks and business
processes to an outer third-party contractor.
Most real estate business owners start by outsourcing highly skilled tasks like
accounting, legal support, IT services, architecture engineering, graphic design
and photo editing, etc. However, such services as customer support, marketing,
administrative, property management operational, and paralegal assistance have
also become the most common services that real estate professionals outsource.
Real estate outsourcing is an effective way for real estate companies to lower
costs, gain efficiencies and achieve business growth. Forward-thinking real
estate companies understand that outsourcing tasks can help them gain a
competitive advantage because they can access expertise and technologies
that they do not have in-house. This allows the company to deliver better or
additional products or services on-demand and all within the requirements of
legislation, business standards and client promises. As well, it enables real
estate companies to realign their resources to critical areas and allow their
internal team to focus on dollar-producing tasks to ensure retention and growth.
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Real estate outsourcing advantages
Outsourcing has many advantages and benefits for real estate companies:
Cost and time savings. When you outsource, you save yourself from
recruitment and operational costs, and the time it takes to train your inhouse
staff. You won’t need to invest in additional physical office space,
equipment, software and internet connection. Employment cost savings of
up to 70%
Improved flexibility and availability. Outsourcing can help your business
become more agile and flexible by opening up 24/7 availability.
Business growth. Outsourcing can free up funds that can be used to reinvest
back into the growth of your business. With the additional support of BPO
services provider, you can increase the capacity for your business to take on
more work.
Expert support. Outsourcing providers are experts and experienced
professionals in their field. This allows businesses to hire people with diverse
backgrounds, experience and education. You get the skills you need.
Improved staff satisfaction. Outsourcing can help you to identify roles and
tasks that would be best suited to send to an outer third-party contractor.
That way, your local team can focus on what they do best and what
motivates them, improving job satisfaction for employees in the long run.
Competitive Advantage. Outsourcing helps real estate companies get
quality work at lower prices, maximize proficiencies and increase profits.
BPO helps to get an edge over the competitors.
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How to evaluate an outsourcing provider
You have now done the math and noticed that outsourcing is efficient and will save
you lots of money and manpower. The next step is for you to go ahead
with your outsourcing plans. One of them is choosing an outsourcing partner. It’s one
thing to decide that outsourcing is good for your company, but another to
find the right partner to get the job done. In this phase, the partner you choose will
determine whether you will achieve the results you are looking for or you will lag.
When evaluating such a decision, the ability of your vendor to fulfill your
requirements is an important consideration. Here are the criteria you need to
use to evaluate your vendors or partner.
Defining What You Want
This is like a client-vendor relationship. It’s important to let your outsourcing partner
know what you intend to draw out of the relationship. Defining the scope of tasks to
be outsourced and their intended benefits is extremely critical. Get your
management or team together and discuss your goals and the list of tasks the
organization needs to be outsourced. The second thing you will need to do
is list the critical processes that need to be outsourced. Best of all, the
procedure to be followed by the outsourcing team. You can also create charts or
systems that need to be followed. At the end of the day, it is you who knows
your business better than them. The more detailed you are in your requirement, the
more you make the job easier for them.
Industry Experience
There's a way of evaluating your outsourcing service provider that most businesses
overlook. You need to evaluate the provider based on quality, quantity, and industrylevel
experience. You can do this by tracking their client records to find out whether
their clients are happy with the services or not. While getting tasks done from your
outsourced partner, its important to understand the experience and expertise they
come with. This can be taken as an interview, a review for the company you intend to
outsource to. Understanding how long they have been around in the Business,
analysing while holding preliminary conversations whether they speak the language
you want to hear and reading a bit about them will help your decisions get easier.
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Since your business is growing, you also need to figure out if the outsourcing
company can support you when you diversify in the future. That is why you must
evaluate your vendor with a sample of work. That way, you will know whether
the company can meet your expectations or not.
Ask for Work Samples
Before you outsource any project to the outsourcing company, you must know
their background. That will give you a better understanding of how they treat
their clients and the delivery of their services. The best thing you can do is to
request feedback from their past clients to find out the scope and quality of
services. You can also inquire about the challenges they faced and how the
team solved it. It’s okay to ask for references or work samples of tasks
performed by them earlier. This gives you confidence that you are dealing with
the right company. In doing so, while speaking with them, if they are able to help
you understand how they achieved the result they show on the work sample,
you have you had made the right decision. If possible, you can ask them for a
portfolio of their work or prototypes, so you have a deep understanding of their
output before you sign the contract.
Assessing their Technical Expertise
The outsourcing provider needs to explain the methodology they use to manage
their projects, track their results, and solve their issues so you understand how
they will handle your projects. That said, the outsourcing partner you choose
must have excellent project management skills and quality control. Also, if they
have a business continuity plan, assure you of uninterrupted services and
support.
Pricing
While making a decision in taken to outsource a particular task, this is probably
the most important factor on the minds of Management. Remember, companies
who quote a lesser price are not necessarily the best ones to test with. Similarly,
companies who boast of a higher price and quality, are not necessarily the best
ones either. Determine the price internally at which you wish to get the task
done. Negotiating too much on the price may lead to the company not picking
up the project itself. Are they not an entity, by themselves?
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Depending on various factors such as: longevity of the company in the domain,
expertise you feel they have an advantage on, how comfortable do their
representatives make you feel when you speak with them on a possible
partnership, are all factors that you need to consider before setting a price.
Communication and Client Management System
When outsourcing any project, communication is vital to the success of the
project. Excellent communication will ensure that everyone's expectations are
met and you guys are on the same page. One thing you need to ask is their
mode of communication. Outsourced companies should be best at this.
Communication is their mainstay and that is easily identifiable in the way they
respond to you. Such companies also are well aware that projects are time
bound. Each activity needs to be completed within certain time frames.
What do they use to communicate with their client? Do they use email, phone,
or other messaging services like WhatsApp? If you are also in a different time
zone, you need to know their working hours and agree on the time of
communication so that you don't have gaps in communication.
Test their Competency
Every business person will tell you that outsourcing carries some risk which
most people don't love. Imagine feeling confident outsourcing the work only to
come back with lots of revision or to turn out bad. It is a complete waste of time
and money for your company. What you can do here is to offer the provider one
small project to test their core skills. If the first few projects turn out well, that's
when you can outsource the entire project. A little test will expose their side of
work and you can use that to gauge their communication skills, quality, and
support. That way, you won't be risking your time and money, which can hurt
your company.
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Real Assistance, Inc. is a BPO services provider
Real Assistance, Inc. is a business process outsourcing (BPO) services
provider and consulting firm you need !
We provide our services exclusively to real estate professionals.
REAL ASSISTANCE is a team of experienced real estate consultants, analysts,
paralegals, and managers. We can provide ongoing assistance and support
for your real estate company's daily operations at affordable pricing.
Outsourcing of your routine and time-consuming paperwork, administrative,
paralegal or other daily operational work will allow you to effectively control
expenses and increase revenues.
Real Assistance, Inc. is a company registered in the State of Delaware under
company number 7981713.
Services we offer:
Data Entry/Analysis & Research
Cold Calling Services
Remote Paralegal Services
Property Management operational & administrative tasks
Virtual Assistant Services
Marketing Services
Customer Support Services
Title Review and Lien Searches
Bookkeeping Outsourcing Services
Broker Price Opinion of a property’s estimated value
Real Property Income & Expense
3D Rendering
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What tasks can be outsourced to REAL ASSISTANCE ?
The tasks you can outsource depend on your business needs and demands.
However, here is the list of some tasks that can be outsourced:
Input listings, upload photos and documents, process new listing documents
Document preparation, filling the forms and spreadsheets
Work on database management, information management, and back-office support
Maintain listing files in an organized and complete manner
Gather data and prepare market analysis and reports
Create/Assist with digital, print/ & social marketing campaigns, newsletters and mailers
Prepare Agreements of Purchase and Sale, Amendments, Waivers and all other documents as
required
Collect and review applications and verification documents for completeness, accuracy,
authenticity, and compliance with Owner requirements
Abstracts and analyzes records, such as mortgages, liens, judgments, easements, vital
statistics, and plat and map books, to determine ownership and legal restrictions and to verify
legal description of property and completeness of records
Draft correspondences and other formal documents
Answer inbound telephone calls, outbound calling, cold calling services
Responding to web chat queries, email management
Research of prospects' real estate portfolios and contact information
Assistance in bookkeeping and maintenance of files
Preparation of property PowerPoint presentations, sale and lease contracts, closing documents
Analyzing specific real estate deals using a combination of metrics
Composition of residential rental leases and other leasing paperwork
Maintenance compliance with city & state building codes & taxes
Public record searches, including judgement, tax liens, and UCC filings
Real Property Income and Expense filing
Construction contract drafting and review
Residential Leases renewal
Legal Research
Filling out forms and applications to governmental agencies
Real Estate Tax projections
Deed and Transfer Tax Forms filling
Data collection and database creation
Research property data, landlord/tenant information and comparable properties
Advertise properties on social media sites
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How does it work ?
If you are interested in outsourcing or thinking to delegate some tasks of your
workload to an outside contractor, the best way is to contact REAL ASSISTANCE
and discuss your project with our specialists.
Confidentiality and information security is the number one priority for our
company!
Depending on your needs, type and scope of work it can be project-based
working model, monthly subscription, or a flat fee.
In the case of project-based services, pricing starts at $20 an hour.
In order to establish cooperation, we will need to sign a Master Service
Agreement and NDA agreement with your company.
We encourage you to contact us by phone or email and schedule a Zoom
meeting to discuss your project.
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Contact us
Mailing: Real Assistance, Inc.
2196 Third Ave, #20084
New York, NY 10035
Phone: (929) 450-5866
Email: info@real-assistance.com
LinkedIn: https://www.linkedin.com/company/real-assistance-inc/
CEO: Pavel Spasovskyy
Mobile: (484) 476-0331
Email: paul@real-assistance.com
LinkedIn: https://www.linkedin.com/in/pavel-spasovskyy/
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This information has been produced
by Real Assistance, Inc. solely for
information purposes.
All rights to the material are reserved
and cannot be reproduced without
prior written consent of
Real Assistance, Inc.
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