Every real estate agent will have indicators that show how and when they can get the best results from their business efforts. Out of a 10 hour working day, most salespeople are at their peak intelligence and performance for only about 5 of those hours.
- What is your best time of day for optimal results in new business and negotiations?
- What are the things that you should be doing each day to build your real estate market share and commission opportunities?
When you know the answers to these two simple questions you have the keys to getting traction in your business and sales territory. In simple terms it can be a time management process for real estate agents. You can feed your goals and targets into your daily work plan.
Regardless of what any salesperson will say about their time on the job and in the marketplace, they will be really good at what they do only for about 5 hours per day. Beyond that point the day becomes a random process filled with ‘ordinary issues’.
It stands to reason that the most important parts of the real estate agency business be undertaken in that ‘peak window of time’ each day. That is then a decision and discipline for every agent.
Peak business performance and intelligence are obtained when the agents mind is fresh and alert; that is usually in the morning first thing, and up until midday. Your diary can be built around this logic.
Psychologists have put a name to the issue given that it is a known fact of human performance. It is called the ‘Circadian Cycle’ and every person lives by it. Now let’s take the ‘cycle’ and apply its logic to your real estate business and efforts.
Here is a list of key issues that some of my coaching clients undertake in this important ‘window of time’. Relate those things to what you do now. How do you rate?
- Prospecting for new listings and clients
- Taking current listings and negotiating better listed prices or rents
- Negotiating on current deals with property buyers or tenants
- Taking inspections in properties with prospective parties
- Making cold calls for new business
- Action taking in your sales plan
- Door knocking local businesses to understand their property needs
- Meeting with property investors to talk about property needs and changes
- Drafting up special marketing and unique advertisements for quality listings
All of these things can have a real impact on property results, listings, and commissions. It stands to reason that these things should be undertaken when your mind is fresh and alert.
Remember the well-known business equation of the ‘Pareto Principle’? It says that 80% of your results can come from 20% of your efforts. If you get your efforts channelled into the time of day where big results are possible, then your success as an agent can go up rather quickly.
So it is easy for an individual agent to adopt this workplace strategy. It is a bit harder to get a whole real estate team to do the same. Sales managers and brokerage leaders can however help and influence the team’s efforts accordingly.
If you are planning your real estate activities for next week or even just for tomorrow, consider the concept and build your diary for the best results.