Time Management 101

One of the most important skills to master for long-term success is time management. This is particularly true for real estate professionals who must balance myriad tasks in a given day: role playing, prospecting, door-knocking, listing presentations, open-houses, closings, and the list goes on.

The pandemic, of course, has put a sharper lens on the importance of time management. Most agents are used to the solitude of working from a home office. But the COVID lock-down did a number on such solitude for many business professionals who now had to negotiate boundaries with home-bound kids, spouses, and even pets who were used to their own form of solitude.

The good news is, we are emerging from the worst of the pandemic, getting back to the thing we used to call “normal.” We thought this would be the perfect time to outline five time management strategies that every real estate agent should follow:

1. Your GOALS should dictate your approach to time management. By knowing your numbers for the year, you can develop a schedule that is designed to best help you reach those goals.
2. EVERYONE should be aware of your schedule. This means your family and your associates. By sharing (or even publishing/posting) your weekly schedule, you hold yourself accountable to others, but also help to establish boundaries that others should not breech.
3. Your business is your JOB. This might sound strange, but think about it. People who get up each morning and drive to an office for their 9-5 job are automatically tied to a given schedule each day. Entrepreneurs and independent contractors need to create their own sense of urgency, and one of the best ways to do that is to define your work as your job, by developing the same routine to guide your daily activities. As you would with a traditional job.
4. If you do not have a dedicated time management system, take 3-4 weeks to TRACK your hours in order to see how you currently spend your time. Make sure every minute is accounted for. Tracking your time allows you to see where you have strengths and soft-spots in your business approach. At that point, you can begin to develop a plan to shore up the soft-spots and exploit the strengths.
5. PRIORITIZE your tasks each day. Certain tasks are both important and urgent, must get accomplished. But make sure you always set aside time for the things that are important, but might not be urgent. These are things like long-term business strategy, coaching sessions, learning new systems, etc.

Indeed, time is money, and if you’re not managing your time, you’re likely not maximizing your revenue potential. Find a time management plan that works for you and stick to it.