The Greatest Challenges of Time Management in Commercial Property and the Solution
It is very easy to lose time or waste time in commercial real estate brokerage. The pressures of the day, property inspections, the listings, and the clients can easily overtake all your good intentions and planned activities.
Somewhere in that ‘pressure’, it is critical that you control some of your time and appointments. You are the person to drive your real estate business forward.
To solve the problem, I usually recommend that brokers and agents only focus on controlling one-third of the day with a ‘non-negotiable’ approach to new business, prospecting, client contact, and appointment making. Understand your ‘core focus’ and stick to it where you can. It’s your business, remember!
In that one-third of the day, the core business activities can occur; they will bring in new business, commissions, and/or listings for each broker or agent. Everything else in the day can be moved and or balanced as part of workload changes. That then puts some simplicity into the business directions for real estate professionals.
Prepare to connect with chosen people locally before you start the business day or week. Connect with the people that matter in the growth of your real estate business.
What is Time Focus and Challenge?
So, what is the challenge? The overall focus here is to generate new business; nothing else matters in such a big way, and that idea should exist at the top of the list in commercial real estate brokerage for everyone.
Let’s think about your ‘core time’. What will that time ‘window’ be? Can you put it in your diary every day? From some simple preparation processes each evening a broker can:
- Connect with better quality people faster – make specific choices about who you should be connecting with and why. That process will help you generate better conversations
- Make choices about who to connect with based on the region and property types – put local property at the centre of your contact processes.
- Escalate the types of conversations created to a higher level – preparation and practice help you with the types and depth of client conversations created.
- Add selected new people to an existing contact list – the quality of your client and prospect list can thereby escalate over time.
- Track and measure contact results and focus into market segments specifically – the tracking process is quite valuable when you are trying to grow business activities.
The simple idea here with these things is that you selectively improve your contact processes by planning and list creation before the start of the day. You could call this the ‘fast track’ to results in commercial real estate brokerage sales or leasing.
