Time Management and Procrastination Problems in Commercial Real Estate Brokerage

In commercial real estate brokerage, the enemy of many agents is quite likely to be procrastination.  That is typically the failure to follow-through on complex and demanding tasks; that is of course the hard work that we need to do.

We only have a certain amount of time each year to attract clients, convert listings, and negotiate deals.  When you look at the average period of 12 months in a calendar year, there is only about 9 to 10 months of opportunity to negotiate the deals that we need.  The balance of the year is lost to seasonal holidays and other diversions.

A lost day in real estate is lost forever; we cannot and should not put off the tasks of today to tomorrow.  Control and focus is the key to solving the issue.  Every day we should move ahead with the challenges and the tasks that surround us.  Certainly the industry can be quite demanding, however it is very rewarding for those that work with focus and momentum.

If your career is based on building market opportunity, commissions, listings, and the deals that you can create from that, you simply cannot procrastinate.  Understand that there will be pressures on you every day and through those pressures certain things will need to happen.

In every segment of our industry, there is plenty of opportunity to tap into.  It is a matter of understanding the issues that can help us build market share, client opportunity, and commissions.  Do the things that matter.  To help you with all of that I have defined below the most common important issues in each of the most common career paths in our industry:

Property Sales

  • Client contact and reporting
  • Prospecting for new business and new clients
  • Listing properties
  • Finding buyers
  • Property inspections
  • Getting market evidence together
  • Marketing activities
  • Negotiating sales
  • Documentation for the sale
  • Monitoring the market conditions
  • Moving the deals ahead

Property Leasing

  • Tenant contact
  • Identifying tenant movement
  • Prospecting for vacant premises
  • Connecting with landlords
  • Property inspections
  • Finding Tenants for vacancies
  • Marketing vacant premises
  • Lease negotiations
  • Lease documentation
  • Understanding the local rents and lease strategies
  • Supply and demand for new premises
  • Vacancy rates
  • Absorption of current vacant premises

Property Management

  • Landlord contact
  • Lease management
  • Tenant management
  • Lease optimisation
  • Rental growth
  • Rent roll growth
  • Routine inspections
  • Outgoings controls
  • Property budgets and income improvement
  • Critical date management
  • Landlord reporting
  • Maintenance control

So the lists go on, and I guess you can add your own issues to the lists as they apply to your property type and location.  Most if not all of these things are quite important to the segments of the industry that we work in.  We cannot procrastinate on difficult and complex issues.  Someone has to do them; understand the things that impact your career in a major way and work through them.  Don’t let the industry slow you down.  Meet the challenge head on.

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