The ABCs of Broker Time-Management
When you work in real estate, every day is different, especially when you lead a growing brokerage. You’re busy from the time you get in the office until you go home, which may not be until late into the evening. In addition to your own workload, you may have meetings with your team, individual agents and clients; showings, follow up, and handling the marketing for your team. How can you fit it all in your workday? If you’re like many brokers, it’s a constant balancing act. After all, there are only so many hours in a day in which to get everything done. However, with proper time management, you’ll be able to focus your time and attention on the priorities for your business.
Assess priorities. While not every task is a priority, many of us write our to-do lists as if they are all equally important. Every morning, pick two top priorities for the day. Once you’ve completed those, work on the next most important tasks on your list. This ensures that you’re not diverting your time and energy away from the activities and people who drive your business.
Block your time. It’s easy to get pulled away from your priorities to handle client or agent concerns or deal emergencies that arise. However, if you’re always putting out fires, how can you get anything done? Parcing (or blocking out time) your time into 60- to 90-minute periods ensures that you have a set period of time where you focus only on the task at hand. You don’t handle issues, take calls or do anything outside of what you planned. Use this time to manage your priorities like call your most important clients, write your personal notes, review your goals, assess the tracking information of your agents, and plan your business.
For your agents, it may take some getting used to, especially if you had made yourself readily available in the past. Inform your Agents of what you are doing and why and be sure to stick to your plan. The benefit is you’ll be able to work on growing your business intentionally instead of drowning in it. Your business will continue to grow and thrive, instead of staying stagnant, even in a down market. The more time you spend on setting priorities around building your business, the more you can offer your agents.
Create consistency. Consistency is the mother of habit. And habit—specifically good habits—are vital to success. When you consistently focus on your priorities and block your time every day, you’ll create a habit of success. This will help you get more done each day.
Delegate. Many people feel compelled to take on every task, whether out of perceived necessity or the need to control. How many of us have uttered, “I’ll just do it myself because I know it’ll get done the way I want it.” When you’re a busy broker, many of the less important, non-revenue generating tasks become the biggest consumer of your time. By delegating these tasks to an assistant, you can free up time to focus on the priorities that drive your business.
Explain expectations. As the leader of your brokerage, people will place demands and expectations on your time. If you want to take control of your day, it’s vital to explain your processes so your agents and clients can gauge their expectations accordingly. For example, if you build an hour in the afternoon where you’ll address the issues and questions of your agents and clients, let them know you won’t get back to them until then. If you turn your phone off at 7 every night to enjoy dinner and spend time with your family, let your agents and clients know you won’t return their call until the next morning. Keeping them in the loop and making them aware of your schedule will help them set realistic expectations about when to hear from you.
Real estate is an industry that experiences a high turnover rate. Why? Many agents burn out after a few years due to working around the clock and not focusing on the tasks that matter. The good news is, not only will these tips work for you, they’ll work for your agents as well. Share these tips with them to help them take control of their time and show them how to put them into action. When you have respect for your time, others will respect it as well. Let us help you get started! Click here to access your free time-management checklist.