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I remember an observation that Howard Brinton, one of the funniest trainers in real estate, made many years ago at one of his seminars. He said, “I don’t have a problem if you just want to make $12,000 a year in real estate, just don’t take all year to do it. Do it in January!”
We all know folks that are working lots of hours and producing very little. In the real estate business, you only get paid for the results you produce. There’s no money in just showing up. The difference between the very successful and the wannabees is the effective use of time.
New agents have a steep learning curve and those activities during the first year may be primarily gaining experience and hands-on learning. The habits and activities that are needed to learn the business are often different than those needed to be wildly profitable. Experienced, successful agents prioritize and focus on the activities that are the highest and best use of their time. They practice habits that support creating results, rather than getting ready or being busy. Busy doesn’t necessarily mean productive.
As I coach my clients in their business planning, the simple questions of “What’s working?” and “What isn’t working” give us the clues to what priorities they can be leverage into the most lucrative rewards. Take a look over the last 6 months and ask yourself those questions, making yourself two lists. Then consider ways you can take what is already working and do MORE of that! Then look at what isn’t working and STOP doing those things. Remember, if you keep doing what you are doing, you’ll keep getting what you are getting.
Here are a few tips to help you shift from working harder to working smarter:
- Focus - Start each day by identifying your three top priorities for the day (in line with your goals). Write these down or keep them in front of you all day.
- Make your performance peak - Plan at least one "Peak Performance Day Shift" in your weekly schedule. A Peak Performance Day is one where you’ll focus 80% of your time and energy on the dollar-productive activities. Imagine the day before vacation and how you are in action and focused that day.
- Fire some clients - Life is too short to work with jerks …..and with the clients that don’t “fit.” Let go of the energy drainers, the people who don’t fit your perfect client profile, the unreasonable sellers, and the people who do not respect you and your boundaries. The people who waste your energy & time.
- Be Consistent - Work on your business, not in it. Systems can be created for almost every part of the business and give consistency to what you deliver.
- Use technology wisely - It’s not about buying the latest “toys”, but about finding the tools that save you time and money and help you be more effective. One of my favorite is the automated voice broadcasting that will leave your message on answering machines, saving you prospecting time. Automatic Response Technologies is one of the sources for this technology.
- Be curious and learn. The key to being successful in the future is to have the services people need. Pay attention to the trends by reading a wide selection of magazines and books beyond just real estate topics. Attend seminars, buy tapes and pay attention to what others are doing in other industries. CRM, Customer Relationship Management and One on One Marketing are two trends that we’ve seen mushroom in corporate business. How could you translate this into services for your sphere of influence? Become a strategic thinker.
- Create a team Relationships are the best source of attracting business. Are you nurturing your relationships? Are you expanding them?
- Have one or more coaches All great athletes use coaches! There are lots of opportunities for coaching, ranging from free to expensive, from personalized to standardized, group or individual.
- Delegate and outsource It’s been said, “If you don’t have and assistant, you ARE an assistant.” But, this doesn’t mean you have to hire s full time person. What are you doing that can be outsourced? Let go of the things you don’t do well or you could pay someone else to do. You can actually buy back hours of your time for $10-$12!
- Do what you love Discovering your uniqueness and brilliance is one of the most important things you can spend time on. There are things you are able to do and groups of people who will naturally feel affinity with you and trust you. These may be transparent to you—it’s so much just who you are, you may not see it as a strength to leverage or a as a gift. Ask others what they perceive your strengths are. Once you have clarity of purpose, magical things happen. You have more fun. People are attracted to you. Business booms!
Take some time this week to work on your business. What shifts would make you more productive? What activities, if you made them habits, would increase your effectiveness? What activities are getting in your way? Then take action! Work smarter, not harder the rest of the year.
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