In commercial real estate brokerage you can waste a lot of time if you are not careful with what you are doing each day with your diary and client contact. As you get busier as an agent it is easy to get ‘lost in the pressures of the day’. Over time that diversion will impact your commissions and listing growth. The message here is that we all should ‘stay on track’ at all times.
One of the biggest frustrations I find in our industry is that of unnecessary meetings to discuss mundane things or with people that really do not count in the business equation. Whilst you may be part of a busy brokerage, I hope that the team leader is smart enough to move weekly team meetings away from the ‘core business time’ where you should be talking with clients and prospects.
Focus your prospecting time and don’t let meetings upset your day plan or client focus. The same should be said about meetings with clients; do them later in the day when all of your new business focus has been attended to.
Administrative Team Support
Delegate the time wasting things that you really shouldn’t be involved with. You are the fee and commission earner; you can’t earn money when you are pushing papers around the office for low priority issues. Get the support team to work with you where you need to get ordinary things under control. The administrative team should be able to look after things such as:
- Arranging for signboards to be placed
- Placing advertisements in the newspapers and online
- Processing the leases and contracts into the brokerage system
- Taking calls of a general nature
- Compiling marketing brochures and mail outs
So what’s the ‘core message’ here? Protect your time comprehensively and completely; delegate as much ‘general stuff’ as you can. Take control of your diary and don’t let others book you up for anything without a very good reason; set the rule that a meeting with you is not booked until the reason is qualified and justified.
Set Time and Task Rules
Let’s set some rules for that:
- Know what’s really important – There will be 2 or 3 things that are very important in your diary. Don’t let others move those important things. Make your time decisions well in advance and stick to your priorities.
- Put clients and new business at the top of your list – Where does the business come from? When you really understand the facts of our industry, you will want to be out of the door and in your market talking to the right people as much as possible.
- Keep your current deals moving – You can keep your commission income and listings moving ahead by keeping notes and raising diary alerts. With all of the business tools that we have at our disposal today there is really no reason not to be in control.
- Take plenty of notes – With all of your conversations and telephone calls, take plenty of notes so you can attend to general things later. The note keeping process will also help you when it comes to deal momentum and client updates.
If you really want to build a top performing commercial real estate business, then look at your time commitments and set some rules. Build your real estate momentum through directed effort; only you can do that.