Real Estate is considered to be one of the most attractive industries, thanks to its endless opportunities and the ability to control your own schedule. However, many real estate agents still struggle with time management and end up being overworked. Nurturing and following up on leads, preparing documentation, holding meetings, and performing marketing tasks is not an easy job, and can be extremely challenging.
The more overworked an agent is, the more their performance drops, meaning that they won’t be able to close as many deals as they’re capable of doing. According to a study conducted by the CDC’s Department of Health and Human Services, employees who work more than 40 hours a week are less healthy, less focused on their tasks and are less productive. This is why time management and task prioritisation are key for a Real Estate manager. Learning how to be smart about forming your daily work schedule will not only allow you to get more things done but will also guarantee a much more successful result.
Here are our top 5 tips on how to maximise your time and get the best out of yourself.
Having a thousand things to do in a limited time period can make anyone panic. Not knowing where to start, shuffling between tasks, and losing focus causes you to lose money. Make a habit of starting your workday by setting the priority level for each task. Even when it seems like everything is important, dividing your tasks into more urgent and less urgent ones can be greatly beneficial. A great tool, that has been around for ages, is the Eisenhower Matrix, also known as the Urgent-Important Matrix.
The Eisenhower Matrix gives you 4 different categories for your tasks:
- The Do First category – These are the tasks that are due today and that are of 1st priority. Usually responding to new leads, getting back to clients, managing your ads and performing cold calls fall under this category.
- The Schedule category – These are the tasks that are important but can be done tomorrow or this week. Help yourself by scheduling time for them in advance in your calendar.
- The Delegate category – These are the tasks that are urgent, but not as important as the other ones above. Try to delegate as much of these tasks as possible to others or use a virtual tool to get them done quicker (for example, a Real Estate CRM like Qobrix can really help).
- The Don’t Do category – These are the tasks that are not important and are not urgent. If a task falls under this category, then really there is no point of doing it all.
It might look intimidating, but it is actually quite simple. Prioritising your tasks on a daily basis will definitely make an impact on your work and will help you forget about burnouts all together.
“What is important is seldom urgent, and what is urgent is seldom important.” – Dwight D. Eisenhower
Time Tracking Tools
After you set your priorities, a good idea is to see how much time it takes you to perform each task. Using tools like RescueTime, Focus Booster, Toggl or Monday.com can help you get a visual understanding of where exactly does your time go. This way you can note down the areas where time is wasted and create an optimization plan. Wasting too much time searching for information on clients or updating your colleagues on leads? Why not invest in a CRM System that can rid you of these things. Platforms like video conferencing, electronic signatures, email distribution software can all help with productivity and allow you to use the time saved on things that matter more.
“How you gather, manage and use information will determine whether you win or lose.” – Bill Gates
Forget about multitasking
A study in the Journal of Experimental Psychology: Human Perception and Performance revealed that multitasking complicated and unfamiliar tasks takes up more time and is less efficient. Every time you jump in-between different assignments you lose focus and need several tenths of a second to concentrate on what you are doing. This might seem like an insignificant amount of time, but when you add it up from a daily perspective, it shows a different picture. Focusing on one task at a time, making sure that you finish it before you start a new one help you achieve better results and guarantee that you won’t make any mistakes. A good way to keep your attention where it is needed is to break down your goals into a list of actions, so you have a clear understanding of what you should be doing.
“I learned that focus is key. Not just in your running a company, but in your personal life as well.” – Tim Cook
Talk to your Team
There are thousands of great articles on why communication in teams is important. For example, LiveStrong.com has a great article called “Why Is Team Communication Important When in Teams?” by Alan Bass. The main idea is simple, however – two heads are better than one. Holding quick 15 minutes daily planning meetings can boost transparency, motivate and help your team to understand the direction you are going in. When everyone knows what they need to do and why they need to do it, your team will be able to work like a well-oiled mechanism. Tasks will be performed quicker and better.
“Talent wins games, but teamwork and intelligence win championships.” – Michael Jordan
Being committed at work and giving your all to get results is great. But it is just as important to give yourself permission to rest and relax. Make sure you get enough sleep, keep a balanced and healthy diet, take breaks in-between tasks and exercise at least once a week. Sometimes even a quick walk in the morning or in the afternoon can make all the difference. When your body is healthy, your mind is healthy. And when your mind is healthy, it can give you the resources needed to perform to your maximum ability at work.
“I’ve learned that you can’t have everything and do everything at the same time.” —Oprah Winfrey