Real estate courses teach us what it wakes to facilitate a real estate transaction and abide by the governing rules and regulations. We are given the handbooks and instructors show us the “ins and outs” of the transaction along with the relationship we will have with a brokerage and what to expect.
These are absolute necessities when someone decides to enter this wonderful industry. However I believe a number of different fundamentals would be used by new professionals and experienced agents if they were introduced during the licensing process and via ongoing education. In my own experience I see agents and managers struggling less with paperwork and more with running their careers like a business.
The most common challenges I hear as a broker/owner of a real estate company have to do with time:
- “I don’t have time for lead generation.”
- “I’m too busy to come to a meeting.”
- “I’m so busy that I can’t make time for my health.”
- “My clients are running me off of my feet and I don’t have time to build systems.”
- “I’m so busy that my relationship is suffering.”
There are 168 hours in every week. These hours exist for all of us. What you choose to do with them is what will separate you from your competition in business and in life.
Complete this small exercise as a study of your own personal time. Write down your answers and treat them as a place of discovery.
- Write down how many hours you sleep in a week.
- Write down how many hours you dedicate to fitness, health and personal development.
- How many hours are in your work week? If you’re a workaholic like me, give yourself 80 hours to be safe.
- Determine the amount of time you have left over. For example 168-42-14-80 = 32 hours.
These 32 hours are the most important time to block first. It is the time you can dedicate to both the joys and absolute responsibilities you have in life to feel fulfilled in serving yourself and others. Block off any family time, date night with your spouse, commitments you must keep outside of work and personal time for you yourself.
With crystal clear purpose and intent while having a complete understanding of what serves you best, you have now dedicated enough time to take joy in life, to sleep, to stay fit and healthy, and work an 80 hour week, which may or may not be necessary for each individual’s time requirements for success.
This is a moment to stop and reflect on the process so far. Are you comfortable and balanced with the blocks of time to which you’ve now committed? Do you feel balanced regarding your 32 hours or do you need more time to accomplish more in your personal life? There is no right answer. You get to decide and you are a reflection of that choice. As you study where you are spending your time, you will begin to develop efficiency tactics that will create far more time for you in both the personal and business spaces.
Here are five suggestions for productivity when it comes to time management:
- Block 90 minutes of personal development time five days per week. Whether you’re into the gym, meditation, walking or reading “non business” books, find something that is just for you. Get grounded and centred and find your rhythm in this space. You cannot serve others at the highest level without serving yourself first.
- Block two hours per day, five days per week that are strictly dedicated to lead generation. This is non-negotiable time for prospecting or recruiting with a proven system that works for you. In this space you must determine your own path of least resistance to sustain this long term.
- Block 30 to 60 minutes per day for content creation. Whether you blog, video or are a strategic social media marketer, I suggest you do this early in the morning.
- Give yourself a time audit for the tasks that someone else could be doing for you such as paperwork or data entry. Consider leveraging an administrative assistant even if it is for 10 to 15 hours per week. How much time would that free up for you for lead generation? As you grow into your business, you can consider these time audits quarterly.
- Dedicate two hours per week for business learning. Whether it’s a new business book, a course held at your brokerage or a seminar you attend, it’s is crucial to continue to be learning and adapting with the ever changing real estate industry. If you want to evolve your business, you must evolve with the industry changes. They are constant.
