2014 Business Management – Can’t Miss Daily Time Management

How often have you said to yourself, “How can that agent make so much money when they’re not near as talented as I am, and they don’t work nearly as hard as I do?” This is a question that many agents ask themselves when they meet another agent who’s successful in real estate, but doesn’t do a good job running their business. In some cases, these highly successful agents don’t even appear to have the intellect or talent to be top tier in the industry. Keep in mind that it’s not how much you know, who you know, or even how much experience you have. All of these attributes can help you become successful, but what’s even more important is the strategy you use to manage your time. What does this mean?

– If you’re focusing your time on activities that will make you money, or 20%’ers, you’re will be in the top 20% of income earners in your industry.

– If you’re focusing your time on 80%’ers, you’re going to make the same money as 80% of the population.

The choice is yours.How can you determine which activities are 20% activities, versus which are 80%’ers?   Here are some examples of each:

Examples of 20% Activities Include:

1. Calling past clients

2. Mailing to a Farm

3. Attending a social gathering and talking about real estate

4. Playing golf and talking about the coming Real Estate and Housing recovery

5. Networking with local business professionals

6. Negotiating an agreement

7. Meeting with buyer prospects

8. Meeting with seller prospects

9. Attending a closing

10. Strategizing your next steps with buyers, existing listings and hot listing prospects.

11. Attending a showing

Examples of 80% Activities Include:

1. Organizing your files

3. Calling a seller to give them an update on showings

4. Researching a farm

5. Cleaning out your desk

6. Surfing the net

7. Reading your e-mails and responding to them if they’re not prospects

8. Updating your website

9. Getting ready to make phone calls

10. Picking up your dry-cleaning or running other errands

11. Picking up a survey

Notice that 20% activities can’t be delegated to another person. The 80% activities on the other hand, are time-consuming, less-productive activities. Most of the time, they can be delegated to someone else. Every day, list the 20% activities you would like to accomplish for the coming day. Do as many of those as you can. Then, attack the 80% activities. Don’t write down any 80% to-do’s until you’ve first identified all 20% to-do’s.