In commercial real estate agency and brokerage today it is easy to get lost in doing the mundane and unnecessary tasks that waste time and effort. If this happens too often you will find that listing numbers and commissions will decline.
So what are the most important things that you should do every day? Try some of these:
- Researching your market
- Prospecting for new clients, buyers, and tenants
- Client meetings with current listing updates
- Presentations and listing pitches
- Prospect contact with listing detail
- Property inspections with qualified buyers or tenants
- Creating and driving marketing campaigns
- Negotiations with sales and leasing opportunities
- Following up on current deals to ensure that they are progressing forward
- Database growth and accuracy
It is easy to see that you have lots to do as an agent or broker. All of these things will help you get the income and the market share that you require. Only you can control your choices and actions as an agent.
So what happens to derail your focus? Well I have seen all sorts of pressures with many different agents. Here are some of the most common problems:
- A client wants to see you to discuss something relating to the marketing of their property.
- A prospective buyer or tenant wants to inspect a property today or in the next few hours.
- The boss of the office wants to have a meeting to discuss team performance.
- You have too many things to do in one day and no support to help you with the pressure.
- You have some marketing to do and some reports to get out that should have been done ‘yesterday’.
These things and the others that impact your day can be controlled and redirected. Only you can control your day. If you let the priorities of others take over your day, you can say goodbye to your income and market share. It’s that simple.
Here are some ideas to help you with time management in commercial real estate brokerage:
- Prospect every day before you do anything else. Your growth of market share is really important. The morning is the best time to get prospecting done.
- Leave the paperwork to the end of the day or delegate it.
- Move your client meetings and property inspections to the afternoon.
- Only take telephone calls when you have time as they will shift your focus off the things that really matter.
- If someone wants to meet with you, ensure that the reason is valid.
- You should control your diary (not the office administrative staff)
Commercial real estate agency is a great profession with lots of potential for those that focus and work hard. Good time management processes are part of that.