I coach each of the real estate agents in my Productivity Program on a case by case basis. There is never just one answer or rule for every single client and issue. As we get busier with clients and opening escrows our time management skills will really be put to the test.
It is not good business practice to give up on prospecting for a day and especially not for a week to take out a client, whether they are from out of town or not. Most of the agents in my program are setting more appointments and opening more escrows. Several of the agents in my program have more deals in escrow than they've ever had in their career. Most agents' natural tendencies are to say yes to every client and babysit each escrow when they begin to get busy. While it is important to do these things, prospecting must not ever be overlooked.
So, with a very full plate, what is the right answer? What do you do? For some of you, it means leaning on your personal real estate team for support if you have one. Can a member of your team ramp up their prospecting time and make some extra calls or sit an extra open house while you are out with clients? Can your administrative assistant ramp up their duties and make some extra follow up calls for you or even run some of your personal errands so you can get some prospecting in?
If you do not have your own team, how do you manage it all? Prospecting-making calls, sitting open houses, and knocking on doors; following up with leads, managing your database, touching everyone 33 times per year, dealing with referrals, meeting clients, showing property, writing offers, negotiating, opening escrow, going to inspections, dealing with appraisals, communicating with lenders and co-op agents, getting deals to close, not to mention training, meetings and classes. Oh yeah, and spend time with family and friends, eat healthy, exercise, get some sleep, work on a hobby, contribute to your community and clean the house. Whew!
So what gives? It is critical that we WRITE down what needs to happen: yearly, monthly, weekly and daily; on a regular basis. The agents in coaching are required to write down their plans, projects, goals and commitments at least weekly. WRITING down what you will do and what you want is a proven tool of success. Almost all of us are doing more with less right now. Writing your lists down, prioritizing and crossing off items will help you manage your TIME and your STRESS immensely. (Stress occurs when we know what the right thing to do is, and we do something else.) When you manage your time with fierce determination you become more dollar productive. Constantly ask yourself, "Am I doing $10/hr work right now or $100/hr work right now?" As independent contractors all we have is our time. Many agents I speak with want to hire an administrative assistant now because each deal involves more work, even though our price points don't justify the expense. I know lots of talented assistants desperate for work. Consider getting together with a few other agents you know and sharing the cost of an assistant, even just part time. Learn to live on less, prospect instead of market and enroll as much help and support as you can.
You will have to sacrifice some things right now to survive. Only you can make the decision of what you will to let go of. Re-margin your bottom lines, professionally and personally. Trim the fat, and then trim some more. Figure out how you can still do the things that matter to you in other creative ways.
Prospect as much as possible everyday. Prospecting is the #1 most dollar productive activity an agent does. If you do nothing else, do this. Don't forget that being "on purpose" with your SOI counts! And, if you erase, you must replace. This statement is meant to put us in acute awareness when we start being too flexible with our schedules. There are only so many hours per day that we can replace with. What are you committed to? There is a price to pay for everything. What is most important? What is most dollar productive? What will get you a step closer to living the life of your dreams and attaining your Vision today?
Get focused, get committed, write everything down and take action!
Commit to more Coaching and training than ever before too. I want to see you do more than just survive this market. It's possible!
Dana Whittaker
Certified Advanced Professional Coach
Certified Real Estate Negotiator
Broker/Salesperson
702.300.7653
www.DanaWhittaker.com
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