In commercial real estate brokerage, the use of lists can be a good thing when it comes to getting momentum and results. Why is it that ‘written lists’ are so important and effective when we have all types of apps and mobile-based tools that we can use? The answer is simple. Mix it up.
Technology can be helpful, but it is not the ultimate solution especially in brokerage when there is so much to do. Get back to the basics and start to control your real estate business with priorities and categories. Use lists to do that. The personal satisfaction that you get from the process will be significant. The results that you can achieve will be there.
The Industry Facts About Results
It is a known fact of psychology that list making and the writing down of lists allows personal organisation and decisions mentally. You will find that lists will help you get things organized and actioned far more effectively than any app that you have available. Your lists will help you remove less important items.
This doesn’t mean that you should stop using apps, but you should take the information that you capture in your apps and create your lists for the final stage of acting on things. Writing out lists at the start of the day will help you make decisions on just what is important and the order that you want to approach things with.
Here’s a fact for you about your time. You might get just 6 key things done in a day. It doesn’t matter what’s on your list; most agents and brokers only get 6 things of importance done each day. Sometimes it is less than that. So, the decision now is specifically what are the things that you must do each day to advance your business?
The Six Lists of Brokerage that Matter
These are the six lists that are more important than anything else you do in commercial real estate. I use an exercise book with a page devoted to each category. It is quite simple. You mark of current issues on each page as you complete them. To explain things further here are some comments:
- Outbound calls – this is a list of calls that you must make each day. Use a simple spreadsheet to help you with organisation and call results recording.
- Inbound calls – you don’t know who is going to call you and when. On that basis use the inbound call list as a way of returning to matters later when time permits. Don’t allow your inbound calls to divert your thinking and actions with outbound calls.
- Deal progress – most agents have a few deals active and that activity can go on for days if not weeks. That is why a deal progress list is so useful. It allows you to break down the activities of a complex matter into smaller issues and stages of progress.
- Marketing activities – this is predominantly about local area marketing. Each day you will be doing something in this category. A good ‘mix’ of items would be, calls out, dropping in business cards, canvassing an area, and meetings. Keep your marketing activities simple and direct. Ensure that you make your day as effective as possible.
- Listing matters – some of your listings will have issues that require response or action. You can split up these factors even further with open versus exclusive listings. Your exclusive listings should be the top priority.
- Database opportunities and changes – given that you should be using your database each day, there will be changes to make and information to enter. That is where the list process can help you. Modify your database at the end of the day and use the list process to organise things beforehand.
These six list control processes are very effective in commercial real estate brokerage. Get your lists underway and use them to regain and keep control in your real estate business.