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Real estate agents are essentially self-employed, serving as their own boss. It can be an incredible position to be in.
It can also be difficult when it comes to structure and being accountable. That is particularly true if you are trying to maintain projects, meet deadlines, handle listings, and establish client relationships while neglecting adequate time management strategies. Click here for a guideline on time management for realtors.
Successful agents who have gone on to branch out into added endeavors, including coaching struggling newcomers in the industry, have all established strong time management skills. These habits are an essential component to becoming a progressive real estate professional.
Most agents who enter the field want to sell real estate and go beyond that component into other aspects of the industry to realize a fulfilling and successful career.
The only way to branch out with “irons in different fires” is to set aside time for each task without overworking or overreaching goals and expectations. When the work becomes all-consuming, productivity becomes challenging, and efficiency goes down.
A mentor can show how to work “smarter and not harder,” a common concept when it comes to business. The idea is to first develop actionable real estate time management skills, as suggested by your coach, to apply to your current position and master these before adding any new duties or branching out into new ventures.
Tips On Using Time Management as a Real Estate Agent
Working as your own boss in real estate can be fantastic, on the one hand, with the many freedoms it affords, but in that same vein, these freedoms can make it challenging to keep yourself on track with your daily schedule.
No one will hold you accountable to stay on top of your listings, build client relations, stay ahead of deadlines, or handle fundamental tasks.
As a realtor getting traction in the field, gaining insight into managing time wisely involves working with a seasoned professional who has already found success in the industry.
A mentor or coach will not only have mastered time management as a realtor but will have branched out with the ability to include multiple endeavors in that same schedule.
A successful coach will share time management tips to take you from a real estate agent to someone capable of handling a few ventures within the industry. Go to https://www.indeed.com/career-advice/career-developmet/new-real-estate-agents for tips for new real estate agents to succeed, and then follow for time management tips you should consider from the experts.
· Realistic goals should be a priority.
When holding yourself accountable, the priority is to set realistic goals. Doing so will allow you to visualize the tasks that need to be handled. Agents are unaware that many people approach goal setting improperly.
The idea of what needs to be achieved is one thing, but actually moving forward with that idea is another. You have to want to accomplish it and take steps to do so.
Efficient realtor time management includes realistic goals, meaning you are honest concerning the likelihood of achieving a duty; nothing broad and far-reaching is considered a realistic or “now” goal like “becoming a top agent.”
While that is a goal, it is not a realistic, readily achievable, “now” objective, something you can act on using small steps to complete the task sooner rather than later.
That does not mean you cannot or will not be a top agent. It is more of a long-term objective that gradually occurs after meeting smaller goals along the way. These milestones are the ones that you need to set and achieve step by step realistically.
· Priority tasks
“Productive procrastination” is a common problem many people find themselves trapped in, and this is a big issue for self-employed real estate agents. These professionals can get a ton of tasks checked off the “to-do” schedule. Still, nothing has been accomplished.
With productive procrastination, agents work on trivial or mundane duties capable of wiping a few of them off the list but manage to avoid the primary or priority assignments. That is usually because there is no clearly thought-through actionable plan to maneuver through the responsibility.
Efficient real estate time management means breaking down large tasks into small steps, so they do not overwhelm. This is referred to simply as the “20/80 rule.”
When you focus on fewer products at one time, and give your attention to the priorities upfront, you will be able to produce a higher efficiency than if you attempt to do too many projects at one time, resulting in much less efficiency.
Real estate agents, in particular, like to believe they can handle everything regardless of how much time and effort it takes. Unfortunately, no one can do that and be effective or efficient. It is okay and wise to ask for assistance.
Something to remember as an agent is that when you need to ask for an assistant’s help, your business or brand expands; that is a good sign. The advantages of delegating responsibilities are plentiful; more people will benefit from work in the real estate industry.
Doing so helps to expand your network, allowing a greater clientele. When delegating, you can let go of the mundane tasks in favor of the priority duties.
To avoid procrastinating, it is vital to give yourself deadlines to meet and ensure you beat these as a way to effectively manage time and make yourself accountable. That involves creating a list of actionable steps needed to accomplish a project to meet the end result.
There is more motivation, encouragement, and less dragging your feet when you have a clear deadline, an objective you need to follow. There is no room for procrastination because there are goals to achieve. It gives you an incentive to finish.
· Multitasking is not all it is cracked up to be.
Multitasking has always been encouraged in the distant past. The more you could do, the better you were viewed, capable, and efficient. That is no longer the way things are or should be accomplished.
When anyone, especially real estate agents, tries to work on several different things simultaneously, they cannot focus any attention on these tasks individually. Each duty receives “distracted concentration,” including those that should be a priority.
The “American Psychological Association” indicates that, while multitasking, people are “roughly 40 percent less productive.” If you are showing a house to one client while communicating with another via email, you are not giving undivided attention, which can come back to hurt your business.
You may find it efficient, while the client might feel shortchanged. Being present in the situation when you work with the public is vital to the success of your business.
If the people you are working with feel less than important in your schedule, they can move on to someone who might give them more time. Read here for time wasters in real estate.
· A Rolodex is an incredible time management tool.
The best realtors will incorporate strong time management strategies like incorporating a Rolodex with important contacts.
These should always be close and accessible to avoid having to search through a mobile or look through a notebook. It needs to be exceptionally organized, whether it is a software management system or a spreadsheet setup.
· Fear of failure
Many people avoid good time management skills by opting instead for procrastination because they have a fear of what will happen if they go ahead with the task.
That is especially true in the real estate profession, particularly with new agents who are unsure of themselves.
When you busy yourself with the most mundane duties and tell yourself that you just do not have time to work on the priorities at the moment or you will get to those just as soon as you have free time, it is avoidance. It has nothing to do with a lack of time management; it has more to do with a lack of self-confidence.
A real estate mentor or coach can help you work through the fear of failure, showing you how to step outside your comfort zone and expose yourself to uncomfortable moments.
The more you face fears, the easier it will become. You first have to move beyond this stage before you can ever start to manage your time.
· Do not forget the rewards.
When you do accomplish milestones and finish on time, it is essential to reward yourself as a successful realtor. Positive reinforcement will motivate you to move forward to the next milestone, a bigger goal, or perhaps another level in the field as you grow.
Rewards should be self-indulgent, maybe allow a Saturday where you sleep in a little longer or take an afternoon off to wallow in some time outside with nature, anything that brings joy and allows self-appreciation. It is important to have time when you do not think about work.
It will actually make you more productive and reduce the chance of you burning out at some point or growing to resent real estate.
A simple time management tip for those new to real estate is to find a successful real estate coach to guide you through their methodologies. While developing checklists, setting priorities, and establishing schedules seem somewhat simplistic, these ideologies lead to greater productivity and milestones being met.