Table of contents
Key Highlights
The cost of hiring a virtual assistant can range from $2 to $100 per hour, influenced by factors like skills, location, and task complexity.
US-based VAs typically charge $15-30 per hour, while those from countries such as India or the Philippines might offer lower rates due to cost of living differences.
Clearly define tasks, set priorities, and use time tracking tools to manage costs effectively.
Real estate businesses can benefit significantly from specialized virtual assistants who can handle tasks like property management, client communication, email marketing, and social media, leading to cost savings and increased revenue.
Success stories demonstrate how real estate businesses have achieved substantial cost reductions and efficiency improvements by partnering with VAs.
Businesses always look for ways to work better and get more done. One popular option is hiring virtual assistants. These experienced professionals have different skills and can help with many tasks from afar.
A common question is, "What does a virtual assistant cost?"
This blog post will explore what affects the cost of virtual assistant services in 2024. It will also help you think about how a remote team member can be a smart choice for your business.
Understanding the costs of hiring a virtual assistant
The cost of a virtual assistant can change due to many factors. It’s important to know what these factors are. Virtual assistants are different from regular employees. They can work in flexible ways.
For example, they may charge hourly rates, project fees, or use retainer agreements.
This flexibility helps businesses choose what works best for them. If projects are small and clear, paying by the project can save money.
However, ongoing work, like social media management or customer support, may be better with hourly rates or retainer agreements.
The basics of virtual assistant pricing models
Virtual assistant rates depend on a few things. These include how much experience someone has, their skills, and what services they provide. When looking at costs, it is important to know the types of pricing methods that exist.
Many virtual assistants charge by the hour. This gives both sides the chance to adjust the work based on how much is needed. Some virtual assistants also have monthly or yearly subscription plans. This is good for clients who need regular help. These plans usually come with set service packages that fit specific business needs.
Hourly rates vs. Subscription-based services
Choosing between hourly rates and subscription-based services depends on what you need and how your business works. Hourly rates give you flexibility. You can manage your budget based on their average hourly rate or the overall actual hours worked. This is helpful if your workload changes often or you need help for a short time.
On the other hand, subscription-based services make your costs easier to predict each month or year. This plan usually includes a specific amount of work or a set number of hours on a monthly basis. These VA services are great for businesses that need regular support.
Here’s a simple breakdown:
Hourly Rates: Good for short-term projects, changing workloads, and trying out different VAs.
Subscription-based services: Best for ongoing tasks, steady budgeting, and dedicated support.
In-house staff vs. Virtual Assistant: A cost comparison
When evaluating the cost benefits of a real estate virtual assistant, it’s essential to break down the typical expenses of hiring an in-house employee versus outsourcing to a remote team member. Salaries are a big part of the cost of having an in-house employee. However, salaries are just a small part of total expenses.
Of course, there are hidden costs that can add up quickly. These include benefits, taxes, office space, and equipment, which can raise the costs a lot. In contrast, virtual assistants remove these extra costs. This makes them a good option, especially for small businesses and startups.
Let’s compare key expense categories from our team at ClearDesk:
Expense Category | Full-time employee (On-site) per year | Full-time ClearDesk remote team member |
Salary | $55,000 (taxes included) | $27,000 |
Benefits (Healthcare, Retirement, etc.) | $8,125 | Not applicable |
Office Space and Equipment | $6,000 | Not applicable |
The table highlights significant cost savings when hiring a remote team member compared to a full-time onsite employee:
Key Cost Savings
Salary comparison
On-site Employee: $55,000 per year.
Remote Team Member: $27,000 per year.
Savings: $28,000 annually, representing a 51% reduction in salary expenses.
Employee benefits
On-site Employee: $8,125 annually.
Remote Team Member: Not applicable.
Savings: 100%, eliminating all benefit-related costs.
Office space and equipment
On-site Employee: $6,000 per year for office and equipment costs.
Remote Team Member: Not applicable.
Savings: 100%, as remote team members don’t require office infrastructure.
Hiring a ClearDesk remote team member can reduce expenses by over 61% annually, providing a highly economical solution for businesses, especially in the healthcare sector. This approach not only lowers overhead costs but also improves operational efficiency.
Salaries and benefits for in-house staff
Salaries for in-house staff depend on experience, skills, and especially where they are located. Big cities with a high cost of living often offer higher salaries.
Apart from salaries, benefits like health insurance, retirement plans, paid time off, and sick leave add a lot to what it costs to employ staff. These benefits are important for keeping employees happy, but they can be a big expense for employers.
Think about the job of an executive assistant. This role usually needs a lot of experience and skills. Because of this, the salary and benefits can be quite high. So, hiring an experienced virtual assistant versed on the tasks of an executive assistant could be a better choice for saving money.
Overhead costs associated with in-house employees
When you hire full-time staff, your costs go beyond just salaries and benefits. You also need to create a good work environment, which can be quite expensive. This includes paying for office space, furniture, equipment like computers and printers, utilities, and office supplies. These expenses can be tough for small businesses and startups with tight budgets.
On the other hand, virtual assistants work from home. This means you don’t need office space, and you can save money on equipment. This big reduction in costs makes virtual assistants a smart choice for businesses of all sizes. They are especially useful for small businesses that want to run more efficiently.
Pricing structures for virtual assistants
Virtual assistant pricing plans can be structured in several ways, offering flexibility to accommodate diverse needs and budgets. Freelance virtual assistants often charge on an hourly basis, allowing clients to pay for the exact amount of time dedicated to their tasks.
Alternatively, some VAs offer package deals that bundle specific services at a fixed monthly rate. This pricing model is convenient for routine tasks like social media management, project management, or email marketing.
VA Pricing Model | Description | Example |
Hourly | Clients pay for the exact time spent on tasks. | $20 per hour for administrative tasks |
Package deal | Clients receive pre-defined services at a fixed monthly rate. | $500 per month for social media management (including content creation and posting) |
Project-based | Clients pay a fixed price for the completion of a specific project. | $1,000 for designing a website landing page |
Subscription-based | Clients look for a virtual assistant company that will match them with their needed VA | This will depend on the extent of your need. See ClearDesk's pricing for your reference. |
Learn more about ClearDesk flexible pricing on virtual assistant services
Important FAQs were also answered there!
Key factors influencing virtual assistant costs
Many things affect the virtual assistant cost. Knowing these important details can help businesses choose wisely and balance their budget with the skills they need. Skills and specialization, location, and knowledge about the industry all play a vital role in setting prices.
By looking closely at these factors, businesses can find the best and most affordable options. This way, they can get good virtual assistance without losing quality. It ensures that the money spent matches their business goals.
Expertise and specialization level
Virtual assistants with experienced and special skills like a real estate VA usually charge more. This is normal. Just like in any field, if you want expert help, you often pay extra. VAs with advanced skills can ask for better pay because their knowledge is in demand.
For example, a virtual assistant who focuses on digital marketing may charge more than someone who provides basic administrative support. Also, those who have worked in fields like real estate or finance might know specific software and practices, which supports their higher rates.
Geographic location and its impact on rates
Geographic location is very important when it comes to virtual assistant rates. The cost of living changes a lot around the world. Because of this, virtual assistant salaries can differ as well. VAs who live in places where the cost of living is lower may charge less than those who live in areas with higher costs.
Currency exchange rates also affect overall costs. This can make hiring from countries with better exchange rates a smart choice. However, it's important to think about other things too. You should consider language skills, time zones, and cultural fit to make sure that working together goes smoothly and communication is clear.
The real estate industry and its unique VA needs
The real estate industry has special needs that virtual assistants can fill well. Real estate virtual assistants can handle many tasks. These tasks include managing properties and talking to clients.
These skilled VAs can take care of administrative tasks like setting up appointments, managing emails, and arranging property showings. This allows real estate agents to focus more on working with clients and closing deals. Their knowledge of real estate software and terms makes them very helpful to busy agents.
Analyzing the value of a real estate virtual assistant
Real estate virtual assistants provide great value. They help make operations easier and increase productivity. Focusing on administrative tasks like updating CRM with customers information and transaction details, these assistants makes it easier for real estate agents to navigate their work. This extra time can be used for important activities like networking, finding leads, and meeting clients.
Further reading 📚
Learn more about real estate admin assistant using our guide 🔍
Real estate administrative assistants take care of routine task list such as managing listings, scheduling appointments, and organizing paperwork. This makes the workflow smoother and more efficient. With this improved efficiency, real estate agents can work with more clients and focus on closing deals, which leads to higher earnings.
Essential tasks managed by real estate VAs
Real estate VAs help with many important tasks. They make work easier and more organized. Their main duties include:
Calendar management: They schedule appointments, set up property showings, and organize open house events.
Email marketing: They make and send email newsletters, property updates, and advertising materials to attract potential clients.
Customer support: They answer questions, give details about property listings, and resolve client issues quickly.
Social media management: They craft interesting content, handle social media accounts, and engage with potential clients online.
Data entry and management: They keep property databases updated, maintain client records, and create reports.
How real estate VAs drive cost efficiency and revenue
Real estate VAs help save money and increase sales. They are great at finding leads. These professionals use different methods to bring in potential clients, take care of leads, and help them through the sales process.
StealthAgents reported that virtual assistants enhance the efficiency of daily activities and can reduce operating costs for real estate firms by as much as 78%, allowing agents to focus on finalizing sales and nurturing client relationships.
By checking leads with information from the real estate agent, VAs make sure that agents spend their time with clients who are really interested. They handle online ads, talk to potential clients on social media, and check leads by making phone calls.
This targeted way of finding leads helps real estate agents use their time and resources better. As a result, they can get more sales and make more money.
Reducing operational costs with VAs
Outsourcing some tasks, especially those that take a lot of time or are done often, can help businesses save money and reduce stress to your in-house employees. For example, there are specific task list that a real estate VA can take over.
Tasks like data entry, calendar management, email handling, and customer support can be taken care of by skilled virtual assistants. This gives in-house teams more time for important business activities.
Flexibility and scalability offered by virtual assistants
Virtual assistants provide businesses with exceptional flexibility and opportunities for growth. Unlike traditional employees, VAs can be hired on an as-needed basis, allowing businesses to scale operations without committing to full-time staff. This is particularly beneficial for companies with fluctuating workloads or seasonal demands.
Additionally, virtual assistants bring a wide range of specialized skills, enabling businesses to quickly onboard experts for specific projects. This adaptability not only helps businesses stay agile in a dynamic market but also fosters innovation and long-term growth.
Success story: How ClearDesk matched the right real estate virtual assistant
This success story of a Massachusetts real estate company act as strong proof for other professionals in the industry. It serves as proof of the power of virtual assistance and how it can lead to similar success in a tough market.
In this section, we wanted to highlight how ClearDesk helped a top-performing real estate team in Massachusetts. They faced several operational hurdles that hampered efficiency and agent productivity. In this situation, they must look at their options on how to hire the right real estate virtual assistant for their business.
By hiring Rob, a skilled real estate virtual assistant from ClearDesk, the team was able to overcome these challenges and unlock new levels of success. From managing a high volume of transactions to streamlining administrative workflows, Rob's expertise made a transformative impact.
Below, we outline the specific challenges faced by the team and how Rob's tailored support addressed each one effectively.
Top challenges & solutions applied
1. Managing high deal volume across multiple agents
Challenge: Handling a heavy workload across six agents led to inefficiencies in deal coordination and communication.
Rob’s Solution: Rob facilitated seamless coordination for 38 closed deals in five months, ensuring every transaction progressed efficiently while maintaining clear communication among team members.
2. Lack of centralized documentation
Challenge: Inconsistent processes due to the absence of a comprehensive listing manual.
Rob’s Solution: Rob created a detailed listing manual, standardizing workflows and improving team-wide consistency.
3. Excessive administrative tasks for agents
Challenge: Agents were burdened with time-consuming admin work, detracting from strategic tasks.
Rob’s Solution: Rob took over these tasks, including event and vendor coordination, freeing agents to focus on client engagement and sales strategies.
READ MORE 🤓
Discover in details how ClearDesk helped one of Massachusetts top real estate firm find the right support for their team!
Hiring a virtual assistant like Rob not only helped this Massachusetts real estate team overcome operational challenges but also empowered them to focus on high-value tasks that drive growth. Virtual assistants bring specialized expertise and flexibility, making them invaluable across industries.
ClearDesk played a crucial role by understanding the team's unique needs and matching them with the perfect talent, ensuring long-term success. From initial consultation to ongoing support, ClearDesk demonstrated how the right partnership can transform efficiency and productivity for any business.
Ready to hire your own virtual assistant?
It is important to know the costs of hiring a virtual assistant. This helps you make smart choices for your business. Whether you look at hourly rates or subscription services, checking the financial benefits of hiring virtual assistants can help you lower costs and work better. Real estate businesses, especially, can gain from the savings and growth that real estate virtual assistants offer.
By looking at the value these assistants bring and learning from success stories in the industry, you can use their skills to help your business grow. There are several real estate virtual assistant companies like ClearDesk that can help you steer your direction into an improved workflow.
If you want to learn more, book a free demo or consultation today.Frequently asked questions
What is the average cost of hiring a virtual assistant in the real estate industry?
How can I ensure that the cost of a virtual assistant is justified by the services provided?
Are there different pricing models for virtual assistant services?
