Time Management in Real Estate
From nurturing and following up leads to completing paperwork to meeting clients and closing deals, real estate agents have a multitude of different tasks to juggle and complete on any given day. So how do successful agents manage their time?
Below I have 6 time management strategies that might help within your business:
1. Track your time
If you are like most people who are busy professionals trying to do it all, by the end of the day you are often asking yourself where did the time go, and what have I accomplished today? If you find you are asking yourself these questions, then you need to start tracking and taking note of each task that you do throughout the day. I use a time tracking management program called Toggl (it's free) which tracks your time spent on everything you do, Toggl breaks it down by project and task, that way you can look back and see what you did, how long it took you to do something and really notice whether or not you spent your time doing the things that are dollar productive and high priority tasks that allows you to move forward in your business. You can see where you need to re focus your time and energy.
2. Prioritise your tasks
When you have multiple tasks due at the same time and you have deadlines to meet, it can be stressful and overwhelming to think about, let alone do. That’s why it’s crucial that you lay it all out and prioritise your tasks based on importance and urgency. Some tips below to help you get started:
Collect a list of all your tasks
Identify urgent vs important
Assess the value of each task
Be flexible and adaptable
Know which tasks you could definitely be outsourcing or asking admin within the office to do for you
By following the above, you can produce the most impact work in the least amount of time while reducing stress and burnout.
Once you’ve prioritised tasks you will most definitely end up with a list of tasks in the “delegate” category. These tasks might include data entry, bookkeeping, scheduling appointments, posting listings and responding to rental and sales enquiries, just to name a few. By outsourcing these tasks to virtual assistants or freelancers, you can reduce labour costs and improve overall productivity. Additionally, your team can spend less time on admin and more time nurturing relationships and generating revenue.
4. Leverage technology
To keep up in the real estate industry these days, agents have to be well versed in technology.Another time management tip for real estate agents is to leverage technology to save time and money. This might mean automating tedious tasks such as outreach, appointment scheduling, segmentation, email blasts and follow up messages. A great customer relationship management (CRM) software is a good place to start. Be sure to choose one with built-in automation to help you conditionally nurture your leads and lead scoring capabilities to help you take the guesswork out of prospecting. This might mean setting rules to automatically send your lead an e-card when it’s their birthday, a “just sold” email to those who have enquired about a particular listing once it’s been marked as sold, or an email providing valuable information to your potential sellers.
5. Stop multitasking
Did you know that multitasking reduces productivity by as much as 40%?
Every time you switch between tasks, you create a new mental block which can diminish productivity and performance. That’s why it’s best to focus on one task at a time, in order to get the task done quickly and efficiently. I used a theory called "Batching" which means you focus and COMPLETE one task first before moving onto the next.
So the next time you feel tempted to multitask, mute your phone, close any redundant browser tabs and block off time to really concentrate on completing that one task.
6. Take care of yourself
Even if you have a million and one things to do, it’s crucial that you take care of your mental and physical health. Not only does this help you avoid burnout, but it also ensures long-term productivity for you and your team. After all, when you don’t feel your best, you don’t operate at your best, which can greatly impact your work and those around you.
I hope you start to implement some of these strategies into your business and I would love to hear your feedback on how you went with these strategies 💛