Selling Real Estate In The Long Run - The Importance of Pacing Yourself

As often times happens here on AR, I read a post and it has inspired me to write a post on that or a similar subject.  This is the case here.  I read a post this morning by Jennifer Allan about a potential buyer calling her on a Sunday mourning to show them property. 

While I subscribe to her blog and like a lot of what she has to say about selling real estate, I'm already on record (Does An Agent Have A Right To A Personal Life) as having said that I think that one of the biggest problems with real estate as a "profession" is that we, as agents, don't require that the public treat us as professionals.

As I see it, the main reason that we take calls at 7:30 on a Sunday morning is because of fear.  Fear that these people will move on to another Realtor who IS willing to answer than phone, no matter when they call. 

Sadly, many times this is simply an economic reality.  The public knows that agents are a dime a dozen and they treat us as such.  Very similar to somebody who calls several different cab companies, taking the one who arrives the soonest and to hell with the other guys who are burning their gas driving to pick you up.

This being the case, maybe I should agree with Jennifer about being available at all possible times in an effort to provide "Superior Customer Service", but I don't. 

The reason why I don't agree with her is that I've ran long distances before and as anybody who has ever ran a long race knows, you've got to pace yourself.  If you work "too" hard at the beginning of a race, you'll fade near the end.  

With real estate it's the same thing. 

Real Estate offices across the country are full of young eager beavers who are out there to set the world on fire!  They get up early and go to bed late.  If somebody calls them on a Sunday morning to go see property in an hour, they're out of bed and in the shower.  Their husband, wife, girlfriend, boyfriend, buddies who they were suppose to meet be damned, they're going to go sell some real estate!

Come back to these same real estate offices 3 years later and you'll still see the eager beavers, but you won't see the same ones.  Not only are the other ones 3 years older, they're also out of the business!  One or two divorce/breakups and a whole bunch of these "emergency" clients standing them up or otherwise not being appreciative of their efforts and a lot of these agents come to the conclusion that selling real estate isn't all that it's cracked up to be.  A lot of them leave the business totally.

The ones who are going to make it are going to be the ones that realize that it's a long race.  Yeah, you've got to work hard, but you've also got to balance things.  In my experience, most of the things that we think are emergencies really aren't.  Sometimes it's lack of planning on somebody's part or maybe something is over looked, but even then, most things can be worked out during normal business hours.

If it truly is an emergency, then sometimes you do have to put in 110% in order to get the deal done, but even then it's important to remember that NOBODY can put in 110% ALL of the time!  If you find yourself in a position where you're burning the candle at both ends, then remember that you're going to have to balance that effort out with some down time.  If you find yourself in those "emergency" situations too often, then you have to ask yourself what you are doing wrong?

Personally, I have set "office" hours.  At 10:00AM to 8:00 PM M-F, they are such that most people should be able to contact me if they need, even if they have to work.  Weekends are by appointment and dedicated to "new" business (i.e. showing property or taking loan applications).  Will I answer the phone outside of these hours or make an exception for a client?  Of course I will.  If the only time a client can meet their building inspector is on a Saturday morning or if I'm sitting there trying to come up with a reason to blow my workout off, then of course I'll answer my phone or deal with "old" business, but I attempt to not make it a habit.

The big thing to remember is that it's a long race and being consistent is more important than being fast!

 

R.B. "Bob" Mitchell

ValueList Real Estate Services, Inc.

 

Bob Mitchell is president of ValueList Real Estate Services,  St. Louis' largest discount/full-service real estate and mortgage company.  If you would like to find out more about Bob, ValueList or our flat-fee listing program, please feel free to visit our web site at valuelistre.com 

 

 

 
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15 Comments on Selling Real Estate In The Long Run - The Importance of Pacing Yourself

BOB - I think that many of us get caught up in the rat race and forget to treat ourselves as professionals.  In a business that tends to be feast or famine, it is understandable why this happens.  The best solution is to try and build a steady stream of business so that there are no "slow" times which leads to desperate times.

04/29/2008 03:35 PM by Adam Waldman - Long Island REALTORĀ® (RE/MAX Best)


Bob, I agree completely. My hours are set and I very rarely change them for anyone. There are some folks that I just can't help because the only time they have is evenings and Sundays. I politely pass and refer them to someone that is more available. It's just not worth me being miserable by going outside my comfort zone.

BUT.....as I mentioned on Jennifer's post everyone just needs to find out what works for them and then do it. There is no right or wrong way....just different ways. Heck if there weren't REALTORS(R) willing to jump at a moments notice then I wouldn't have anyone to refer these folks to :)

04/29/2008 03:51 PM by Bryant Tutas-Tutas Towne Realty, Inc


I like to turn my phone off also after a certain time.  My time should be my time.

04/29/2008 03:53 PM by John Walters (Specialized Real Estate)


Bob- I think taking control of your time that you work real estate is one of the smartest things an agent can do.  Any Realtor who still says "Real Estate is my life," is surely misguided.  Every one deserves personal time, and every time I have ever told a client I was unavailable due to a personal conflict, they always understand and I've NEVER lost a client.  Agents need to stop being afraid!

Kevin

04/29/2008 08:24 PM by Kevin Bungert (Living Well Systems, Inc.)


I think you can do that when you get to a certain point but it is hard when you first start out.

04/29/2008 08:45 PM by Denise Allen Realtor@ Chesapeake (GSH Real Estate)


Bob - This is a hard lesson to learn, but I have mastered it. When I was new to the business, I would take phone calls at all hours, even one at 1 am! I also would have taken any listing that walked through my door.

After 6+ years, no more. I realize I have a family; I have other interests. I now can say "NO" and not fret all day about it. I can now tell a seller, "I'm sorry, I can't help you."

My only exception - email. Which I do check all hours of the day and night and which I will answer if I've read it, no matter the time.

04/29/2008 10:22 PM by Debbie DiFonzo, United Country VIP Realty, SW Missouri


Adam:  You're right on the mark!  If we don't treat ourselves as professionals, how can we expect anyone else to treat us as professionals?  I also agree with you on, at least attempting, to build a steady supply of new business coming in the door in order to avoid desperation!  Thanks for the comment!

Bryant:  You're right of course that what works for me or for you may not be the "right" way for someone else, BUTTTTTTTTT, there is a certain amount to be said for learning by example.  I've been doing this for going on 24 years now and have seen untold numbers of "hot-shots" come and go.  I've also seen people work themselves sick.  The agents that I've seen who have been successful over a period of time longer than 2 or 3 years have all been the ones who have made time for themselves, their family and their friends.  Not scientific, but enough for me!  Thanks for your comment!

John:  I haven't ever been able to bring myself to that point (at least not for more than a couple of hours;-), but I can definately see your point!  Thanks for your comment!

Kevin:  Actually, in my experience, I've found that not being 100% available actually attracts people.  Like that old saying goes, if you want something done, give it to a busy person.  Plus the confidence that is exuded by being in control of your time is picked up by the potential customer.  Over the years, I'm sure that I've lost some business because I've told somebody that we would have to schedule something later, but I'm almost positive that I've done more transactions because people respected me and treated me as a professional.  Thanks for your comment!

Denise:  Actually, starting out is when you really need to take control of your time!  The habits that you form as a new agent will carry forward with you through your career.  It's better to pace yourself and make it than to burn out.  If that makes any sense?  Thanks for your comment!

Debbie:  ;-)  Email doesn't count!   I've recently switched to a Blackberry where I can get my email on my cell phone...pretty cool stuff! Thanks for your comment!

Bob Mitchell

ValueList Real Estate Services, Inc. 

 

04/30/2008 12:46 PM by ValueList Real Estate Services, Inc.


Whew! I was worried - so glad email doesn't count! We now have Blackberry service here in *rural* Missouri! I will be like a kid in a candy shop!

04/30/2008 12:56 PM by Debbie DiFonzo, United Country VIP Realty, SW Missouri


As long as you're not with Sprint, whom you have to be within 15 feet of a major highway if you expect to get a signal outside of a city, you will love it! ;-)

Enjoy the blackberry!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

04/30/2008 01:04 PM by ValueList Real Estate Services, Inc.


I'm with you on this one!  I also think it's good to create boundaries with our clients and potential clients.  ie: office hours when answering the phone.  Also I once listened to interview with Gary Keller and one thing he mentioned is to pencil in your personal time with yourself and family first and then fill in the business time second, do this for the entire year.  The rule is if you have to do work on a personal day then you make up that personal day.

04/30/2008 01:24 PM by Jessica Bigger ~Eureka, CA Real Estate (Ming Tree GMAC Real Estate)


Jessica: Thanks for the comment!  I think that Mr. Keller is on to something there! ;-)  Thanks again for your comment!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

04/30/2008 01:28 PM by ValueList Real Estate Services, Inc.


Bob: I agree with you. Perhaps because we're older we know how to pace ourselves and be in it for the long haul. The other part could be that we're attempting to reach significance in some way. I say amen to the tortoises out there!

04/30/2008 11:05 PM by Paul McFadden (Exact Financial Group)


Paul:  Thanks for the comment!  I think that you're on to something there with the significance issue.  When you're younger (at least this has been my observation) you're more worried about making a bunch of money or being "rookie of the year" or Realtor of the year, etc..  When you get a bit older it becomes more about helping people and accomplishing long term goals.  Thanks again for the comment!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

05/01/2008 09:49 AM by ValueList Real Estate Services, Inc.


Hi Bob,

I know a Realtor who has strick rules about his hours and days he works. He has his policy clearly stated on his website and it is explained in a very clear, polite manner that makes you actually want to work with him!

I'm all for life/work balance. If I'm going out to meet a client in the evening or weekend, you can be sure I am staying home with the family on a regular work day to make up for the 'off hour' scheduling.

 

05/01/2008 12:08 PM by Dane Caldwell - Downtown Toronto Decorator Home Stager (2 Hounds Design + Home Staging)


Dane:  Making up for the lost time and more importantly, being in control of when you work is paramount to building a lasting business.  Thanks for following that link and I hope that you don't mind that I put it in there!  Also, thanks for your comment!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

05/01/2008 12:20 PM by ValueList Real Estate Services, Inc.


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Real Estate Brokerage: ValueList Real Estate Services, Inc.
Bob Mitchell - Realtor St. Louis
Saint Louis, MO
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ValueList Real Estate Services, Inc.

Office Phone: (314) 231-5478
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A blog about St. Louis real estate and about real estate in general from a guy who has been selling real estate and doing mortgages since 1984. I'm also the owner of ValueList Real Estate Services, Inc. a discount real estate company serving St. Louis since 1995!

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