You’ve probably heard of the commonly known statistic that “87% of real estate agents fail within the first 5 years” from a study done by the National Association of Realtors (NAR). If you look at the reasonings behind this daunting stat, it essentially boils down to false expectations (mindset) and lack of time management. Like any business, it's crucial to cultivate a solid foundation with the right systems, tools, and mindset in order to effectively master your time and maximize your days.
In this article, we'll take you through 7 time management hacks for real estate agents that will help you save time, stay organized, and increase your productivity (and profits).
Let’s dive into it!
1. Time Blocking
Time blocking is essentially mapping out every part of your day. You may be thinking, I already keep all of my appointments in my calendar. However, time blocking means writing down exactly when you’re going to do every single task. Here’s a quick example (the more specific you can be, the better):
Of course, your routine may look different, but getting super granular with it can help ensure you stay on track and allot time for important things.
Along with time blocking, setting timers can help you stay on task and not lose track of time. Having a deadline on certain tasks can help you stay focused and put aside any distractions until that deadline or timer is up.
2. Theme Days
‘Theme days’ are designated days where you handle certain tasks or activities. For example, every Monday you might call your clients who are currently in negotiations or under contract to check in and give them any updates. This helps set the expectations for your clients so they know exactly when to expect an update from you every week. It builds trust amongst your clients and helps you stay organized. Of course, situations are always arising and things can change quickly at any given moment, so use your best judgment accordingly. This can also be applied to other tasks. For instance, perhaps you devote a few hours every Saturday to working on your social media posts and engagement.
3. Prioritize Tasks
Prioritize your tasks. As a realtor, you're juggling a lot at once, so it's crucial that you're prioritizing the right tasks. Once you've figured out which tasks take precedence, see which tasks can be delegated or outsourced and which tasks can be completely eliminated as they don't contribute to your goals.
4. Master your Morning Routine
Your morning impacts the rest of your day. If you’re feeling stressed or rushed first thing in the morning, you’ll likely continue to feel that way throughout the day. Creating a morning routine and implementing habits, such as making your bed, listening to a podcast, or getting a quick 20-minute workout in will boost your energy, get your mind right, and set the tone for the rest of your day.
5. Protect your Time
Avoid unhealthy distractions, people, or things that don’t support you or your vision, and say 'no' to things that don’t align with your goals. Of course, there are times when we can’t avoid certain things, people, or events. However, protecting your time will protect your mental health and help you continue striving forward personally and professionally.
6. Accountability Partners
Accountability partners are a great way to help you stay on track with your goals. Call a colleague and keep each other accountable for the goals you’ve set out for the week/month/year. If you’re on a team, you can work with a team member or your team lead. If you’re a free agent, connect with someone from your agency or even someone outside of the real estate industry, like a family member or friend, who will help you stay on course.
7. Leverage Time-saving Technology
As a realtor, it's imperative that you spend time on tasks that 'move the needle' and generate more leads every single day. Do your research on technology that can save you time and stress while allowing you to focus on income-producing activities. Finding a tool that can save you time and bring in more leads is a total game-changer.
Want to learn how Openn can help move the needle and catapult your prospect pipeline? Get a free demo today!