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TerriP

How to determine rates/fees

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I'm wondering if someone might share their fee schedule for doing Real Estate Virtual Assistance. I live in Maine, and I have set a flat hourly rate, but am getting some resistance. Is it better to charge per diem, (a flat fee for the project).....? And if so, how would that work? If I was going to work for only 1 realtor, the hourly rate might work, but working for multiple realtors, makes it hard. I would love to hear any suggestions and/or feedback.

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Terri:

 

I don't do real estate work, but I understand your dilemma - if it is possible to quote the client a project fee per property listing, then I would definitely have that in place, in addition to having an hourly rate. There are many REVAs on this forum who probably have better insight, but if you are targeting a niche then be sure to have package pricing that will make sense to them. If you are sensing resistance, it's probably because they are nervous that you will give them a huge bill at the end of each project. If you have a good rapport with the client, perhaps ask them if they would be interested in getting a quote for a project rate.

 

Good luck!

Tracey

 

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Hi Tracy,

 

Thanks for the response! I think you're right about the project rate, now I just have to figure out how much to charge for specific projects. Since I was always paid hourly, I never tracked any one project, as I was usually working on several at one time, because I worked as the admin support for the whole company as well as the office manager and client relations specialist... So now, I have to back track to try to figure how many hours each specific project could take.... Thanks again for taking the time to send me your input, I appreciate it!!

 

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Hi Terri,

 

I understand your dilemma about how to charge and I have also met with some resistance regarding charging by the hour in the past. Although there are certain tasks that can be charged on a "per project or transaction" basis, I would be reluctant to take this route unless you are confident how much time it will take you to perform these tasks and have your all your systems in place.

 

What I did to put my clients at ease about my "hourly" billing is reassure them that while I charge by the hour, I only charge for time actually spent on the project. If a task only takes me 15 or 30 minutes to do, that is all that they are charged for. In addition, my clients are given a detailed breakdown of my time each month so they know exactly where my time is spent.

 

Hope this helps. Let me know if you have any other questions.

 

Ciao!

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Terri,

 

Although I've never met resistance about my hourly rate (mine is less than what I understand to be the norm) I do charge some projects on a flat fee if I have experience doing the task. It's easier that way. But I'm a big proponent for charging the agent for only the work I perform so I try to stay away from flat fees. In flat fees you have to add some give to the quote to make up for time lost on certain jobs.

 

If you would like sample fees, I keep my most current fee chart on my website under Forms.

 

Hope that helps.

 

Renee Crabtree

My Assistant

www.myassistantcan.com

 

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I have two retainer packages, which means they pay for 5 or 10 hours of my time in advance. I work on a long-term basis with my clients and have been with most of my clients for 3-4 years. When they go over the hours of their retainer, which almost all of them do, I charge them the retainer hourly rate.

 

They are billed in one minute increments and receive a time record at the end of the month showing everything I did. I use TimeSlice to keep track of my time.

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