At the end of any week, you want to look back and feel like you've accomplished the things you set out to do. As a realtor and business owner, you'd like to log into your bank account and see a positive balance with at least one comma and know your time was well spent generating new business and closing transactions.
Top-earning real estate agents are productive and, in the end, make more money. How can you increase your productivity? Start with these 4 things:
Prioritize Your To-Do List
Is your to-do list a bunch of tasks that you have to get done by the end of the day? Do you have them sorted by order of importance? Top real estate agents prioritize high-value tasks such as new business development, meetings with clients and listing your properties. Tasks like these belong at the top of your to-do list and towards the bottom, you can add things like accounting, writing thank you cards and personal social media.
By the end of the week, you can look back and see how productive your week was. One app to help you prioritize your to-dos is called Notion by Notion Labs. You can view your tasks by day and bold those that you consider high-value. If you don't get to check off a task or two, you can drag it to the next day and keep it moving. Notion is available for Mac, Windows, iOS & Android.
Track Your Time
If you are working 50+ hours a week and not closing more than 40 transactions annually, there are likely 2 reasons. The first could be time management. Where are you spending every minute of every hour on a daily basis? Do you know? If you are not tracking your time, chances are that you are spending too much of it in the wrong places.
One tool to help you track your time is Now Then by Angry Aztech. It works like a stopwatch that helps you track the time you spend on tasks like client development, emails, personal development, etc. Unfortunately, Now Then is only available on the App Store (iOS) but you can search on Google for an app with similar functionality and begin tracking your time immediately.
Focus on the Listings
The second (and most probable) reason you aren't closing as many transactions annually is that you are working with more buyers than sellers. You can service 4x more sellers than buyers and top producing agents have been successful when they focus their lead generation on attracting people with listings.
Prospect new clients and get immediate business by contacting For-Sale-By-Owner and/or contact owners with expired listings. The fear of reaching out to someone you don't know can be paralyzing but these 2 groups of people are likely looking to sell their properties right now. If you can get over the fear, you will see that focusing on listings will make you more productive... and more money ;)
Learn to Say No
As a realtor, you are constantly learning and doing things to help your business succeed. But you also have a personal life full of family priorities, social circles, hobbies, and personal interests that simply can't be ignored in the pursuit of happiness.
Everybody gets 24 hours each day - nothing more, nothing less. So how is it that top-producing, successful real estate agents get more done all the while maintaining a healthy balance between professional and personal lives? The answer is that they say "no".
Warren Buffet, one of the richest people in the world said this:
"The difference between successful people and really successful people is that really successful people say no to almost everything."
When we think of successful people, we tend to think of all the things they did or accomplished. But the reality behind every successful person is that if you ask them the things they didn't do, the list would be much longer.
Steve Jobs, Apple's Founder, was most proud of the things he didn't do: In a developers conference in 1997, he said this:
"People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I'm actually as proud of the things we haven't done as the things I have done. Innovation is saying no to 1,000 things."
In order to see the success you dream of, you will need to rehearse saying no, a lot! Don't know how to say no? Here are some one-liners to get you started:
- That's not a good time for me but maybe we can schedule at a later date
- My availability is limited during this season
- If I don't have time to visit family, I really can't do this either
- I'm honored that you would ask but I can't make it
- It does/will not work for me to...
Say no more often but say yes to more money per transaction
One of the ways top producing agents make more money is by partnering with the right broker. Are you earning a 95% commission on every transaction? If not, its time for you to get a new broker!
At Joseph James Real Estate, we value your time and want you to make more money. If you are interested in learning more about our agency, use the form below to start the conversation that will increase your bottom line and productivity.