Quick... make a list of all of the things that you do in your real estate business. Prospecting, blogging, pulling comps, designing flyers, showing property, updating your website, building your database, ordering yard signs, optimizing photos, scheduling and attending inspections, preparing your monthly mailout, sending relo packets, responding to phone calls and email, inputting listings, creating virtual tours, setting up buyer searches.
None of the activities in the first paragraph directly produce revenue. They may lead to future clients or help get your listings sold, but nobody hands you a check when you finish them. The two items you must focus on are Listings Sold and Buyer Contracts Closed. Any other activity is simply not optimal use of your time as a real estate professional.
One of your goals in 2008 should be to increase the amount of time that you spend face-to-face with buyers and sellers. If an activity does not directly produce revenue, look to hand it off to someone else who can do it more effectively and efficiently. Many new agents or those in challenging markets may not have the funds to do this right away, and that's OK. But when you start to develop a consistent income, begin leveraging your time with other people's talent. And always lead with revenue.
Kathleen Gage of StreetSmarts Marketing has an excellent article on her blog about the value and benefits of using a virtual assistant. "When done correctly, one of the greatest advantages in hiring a Virtual Assistant (VA's) is you can focus on higher level objectives while your VA takes on a huge part of your workload", she says.
But where to find a Virtual Assistant? Well, there are 494 right here on ActiveRain. Read their blogs; look at their profiles; visit their websites to see examples of their work. Another source is the Real Estate Virtual Assistant Network, "a special community where REALTORS® and Virtual Assistants can exchange business-building ideas." And if you are one of the 494 VA's on ActiveRain, feel free to add links to some of your best posts in the comments.
It's always better to work smart rather than work hard. With the right kind of leverage, your business can grow tremendously in 2008, and a Virtual Assistant may be the perfect solution. Lead with revenue, leverage with other people's talent, and enjoy the rewards of a productive and efficient business strategy in 2008.
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John:
Good post. Staying focus and having a plan and a schedule is so important when doing tasks such as prospecting. Put it on your schedule. Set aside certain times to make prospecting phone calls or prospecting in person. If you don't schedule it, it won't get done.