In commercial real estate brokerage, one thing matters more than anything else, and it is your time and how you use it. If you don’t manage and protect your time, others will take it over. That can then mean diversions, distractions, and sending you down the proverbial ‘rabbit hole’ where you can spend too much time on matters that will not give you any return or result. Your results in brokerage come from your efforts; that’s the rule
When you completely understand that your time is so ‘precious’ you will start to see how to change things and focus on only the things that matter. You will start to shape your day and your activities with a preference for effects and outcomes.
Something else should be said here. You will not get everything done each day, so don’t try to change that fact. Only get done the things that matter; the rest of your tasks on your list can revert to lower priority and activity later when you can get to it.
Simplicity Rules in Commercial Real Estate Brokerage
Simplicity is important as you strive to grow your real estate business. Simplify things and action them.
Here are some effective and proven time management tips for brokers and agents today:
- Control your emails only at times of the day where the pressures are off. It is a known fact that emails can destroy any time focus or organisation that you thought you might have had or wanted to create. The emails come in from other people, and they have their differing priorities. If an email is not deal or commission related, it can wait for a later response. Clear your emails before 8 am and after 5 pm. It is not productive to have emails coming through on your mobile phone distracting you away from your core activities. Switch off the email push on your mobile phone. Use it only when you must.
- Prospect for new business at the start of the day, and that is before anything else happens. If you are just starting in the industry, this rule is a ‘top priority’ and something to work with. When it comes to new people working in brokerage, I usually say that at least 50% of the day should be in making outbound calls. Keep all your conversations short and specific. If a matter is complex or lengthy, push that outbound call to later in the day.
- Make outbound and follow-up calls only at certain times of the day and that is usually the first thing in the morning. Notice the word ‘outbound’? The suggestion here is that you are making the outbound calls in a controlled way and not whilst you are taking inbound calls. Simple call contact rules can change your focus and your results. You can take inbound calls at certain times; hence you won’t get distracted or diverted away from new conversations with new people.
- Start a ‘day book’ to control notes and events as they happen. A ‘day book’ is something as simple as an exercise book of say 250 pages. The book gives you plenty of room to write the results of conversations, meetings, discussions, and decisions. There is a book for every month of activity. At the end of the month, you change the book over and keep the old book as a record of connections and conversations. At the end of the year, you have 12 monthly books. It is remarkable just how useful this simple process is in keeping your business and activities under control. It is also a good back up when it comes to disputes or disagreements.
So, these are time management tips that are effective, simple, and valuable. Build your real estate business on simplicity first and foremost. Make it easy for yourself in connecting with new people and clients.