Monday, July 1, 2013

Time Management Tips in Commercial Real Estate Brokerage Today

woman using personal organiser
Manage your time as a broker or agent


Today in commercial real estate brokerage, the pressures that you experience every day with time and tasks will be many.  Clients will want to talk to you, marketing and inspections will take up some of your day, and beyond all of that you will still have some prospecting to do.

All of this says that you really must master your time and your tasks as a broker or agent.  It is a simple thing to say, but a hard thing to do.  Efficiency will get you further into your market than anything else.  Every day as a broker you must do the ‘right things’ and not the ‘reactive’ things.

If you take an average brokerage of say 10 agents all working their territory, a full 80% are likely to be reasonably disorganised and random in processes.  This then has a direct reflection on the volume and type of business that they create.  Top agents are in the top 20% of the market; that is their choice and they do it well.

The message here is clear.  If you want to build a better business as an agent or broker, now would be a good time to look at your actions and tasks.  Consider the following strategies to help you do that:

  1. Set some business goals that you can stick to and believe in.  They become the ‘glue’ to hold your momentum together.
  2. Control the telephone and choose the best time of day to take calls.  It is far more important that you are making outbound calls in prospecting than accepting inbound calls (negotiation calls at the exception to the rule).
  3. Create some uninterrupted time in your day where you can do the ‘proactive’ things that will help you build market share.
  4. Use a written diary for a day planner.  Write things down that need to be done and ‘chunk’ your time.
  5. Set priorities on the things that matter.  Remember the differences between being ‘proactive’ versus ‘reactive’.  The latter will hold you back from building your real estate business.
  6. Avoid email diversions unless you have an important deal under-way. Most emails can wait to the end of the day.
  7. Create prospecting time in your diary that will be a regular habit.  If you don’t prospect every day you will lose business and market share.  That then creates a downward slide in listings and commissions.
  8. Be prepared to say ‘no’ to some people when they want to take up your time.  Their priorities are unlikely to be of any value to you as you build your client base and listing stock.

Given all of these things, remember that ‘top agents’ do not waste time.  They focus on using it correctly and directly.  You can do that too.

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