As a commercial real estate agent or broker working with property listings and commissions, it pays to consider your diary regularly in a timely and efficient way. Look at the diary for the week ahead and see how many appointments you really have made with people of property relevance. Are you wasting time in your diary and seeing the wrong people, or are you actually meeting with the right people in the right way?
Like it or not, the most important resource that we have in commercial real estate agency today is time. How we use our time will impact just about everything else that happens for us. On that basis your time and your diary should be focused firstly on creating quality listings, new clients, servicing existing clients, and new business prospecting. The secondary focus will be normally inspections, negotiations, and property documentation.
So where are your property priorities today? If you are struggling in the industry is likely that your priorities have shifted, degraded, or lost focus. That being said, things can be adjusted and resolved by any agent or broker. It is a personal process and immediately fixable.
Time Management Tips for Commercial Real Estate Brokers
Here are some rules to help you stay on track when it comes to time commitment and real estate brokerage focus:
- Plan the week ahead every weekend prior to Monday morning. Lock away your prospecting time well in advance so that no one can interfere with the process of prospecting and new business.
- Plan every day the evening of the night before you go to work. The daily planning process will help you shift priorities where necessary and handle the expected pressures of the day coming up. I remind you of the fact that your prospecting time is nonnegotiable and should not be deferred or deleted for any reason at all.
- Control your time in the business at a personal level. That means avoid letting anyone else book meetings for you and change your diary activities. You must control your time; that’s the rule.
- Avoid unnecessary meetings. Whilst sales meetings and team meetings are a general requirement for most brokerages, they don’t need to be overly frequent or lengthy. Most general business meetings can be moved to the end of the day to avoid business disruption and distraction.
- Understand your most effective and efficient windows of time. Some people work efficiently and directly in the mornings. Others tend to see greater efficiency in the afternoons. Understand how you prefer to get work done and how you can achieve more results in the things that matter. Move the most important tasks into the times of day where the work will get done with efficiency and focus.
- Throughout the day you will meet with many new people, pitch and present your services, negotiate on listings and deals, inspect properties, have client discussions, and complete documentation with sales or leasing transactions. From all of these things there will be issues to follow up on or enter into your database. Set aside at least 30 minutes to 1 hour per day to enter fresh details into your database and or take required actions on issues of importance.
- Organisation is the key to control. One of the most valuable methods of personal organisation is that of a written diary. Whilst everyone today has some form of computer based online diary in their mobile telephone, laptop, or tablet computer, it is a known fact that a written diary is far more effective at a personal level when it comes to getting things done. The process of writing things down helps you deal with priorities and pressures. To stay organised you can use an online diary for upcoming appointments and basic organisation. At a daily level that online diary should be transposed to a written diary at the beginning of the day. That will help you move through the pressures and decisions of things to do.
So understand the value of time as applies to you in your personal career in commercial real estate. Protect your time so that you can grow your business, find the listings, negotiate the deals, and convert commissions.