The busy real estate professional juggles a lot of balls in the air which means that as self-employed business practitioners, they have to know how to run a business, attract and keep customers, work on old and new business, and adjust to a constantly changing business environment. The best and most effective skill that you can cultivate is to learn to manage your time.

Learn what activities make you money, and which ones waste your time. Learn to delegate. And learn the ten commandments of time management.

1. You are a professional member of a team: understand that your time is valuable and limited.

Basically, you have to have certain guidelines with a team which means making a schedule and adhering as closely to it as possible. You have to stay in touch, communicating twice a day or by being in the office, or with a thirty-minute sit down meeting. Limit your time when you call in to touch base. By sticking to scheduled check-ins, you aren't interrupting each other all the time.

2. All jobs are not created equal: Set daily and long-term priorities.

I always do top priority jobs first thing in the morning, and then everything else falls into place. Sometimes things that aren't top priority become top priority, so you have to be flexible. As long as the top tier of things to do is empty, I feel that I am on track. One thing that helps is a 30-60-90 day planning board, which you can buy at office supply places. These are great for projecting mailings and farmings.

3. Know where you are going: Set short-term goals and long-term goals.

Everyday I know how many calls I am supposed to make, listing presentations I am going to go on, etc. At the end of the day, I know I have made 100 calls. I want to have a sale a day. Long term goals are accomplished in the short term - how many people am I going to talk to today?

4. Know what you need to do: Make a list of the things that must be done.

Everyone needs a time management device or more than one. Time management software is the ultimate. I personally prefer a daytime that I can carry - I need that security blanket. It doesn't matter if you have the fastest or the best method. The important thing is that you have a time organizing database managing system of some kind that works for you.

5. Budget your time: Stick to your schedule.

Realize that there are interruptions occurring that shouldn't be allowed. When someone stops by your office and wants to use for time, you have to determine - Is this a dollar productive interruption or a time wasting interruption? Then learn to say, I'm sorry, I can't right now. If it is something you want to do, then give the person a better time to come back.

6. Be flexible: Bending isn't the same as breaking.

Real estate people are type-A folks - they have to be in control. But a lot of people make the mistake that they have to adhere strictly to their schedule. Write it down and know that it isn't going to happen the way you planned. Flexibility is the key to not giving yourself a heart attack.

7. It's ok to say no: It's better not to take a job than to fail to do it.

Again, ask yourself, is this a dollar productive activity for me? Will I personally benefit or does my business benefit? If not, then I can't do it. There are only so many hours in the day. As far as volunteer work goes, that is fine, but work for a cause that means something to you, not just because you can't say no.

8. Be organized: Use a planning system.

I recommend investing in time management classes, watching how other top producers manage their time, and then use a tool such as the Franklin Planner, the Palm Pilot, or anything that will help you meet your goal.

9. Don't be perfect: Be accurate.

When you do most jobs, 80% effectiveness is acceptable. If you take your time the first time, you won't have to spend time repeating yourself or correcting mistakes. Contracts can appear very unprofessional if they are filled out too hastily, and sometimes have to be rewritten because of sloppiness.

10. Get help.

Don't be afraid to delegate. Real estate practitioners are reluctant to delegate because they think no one else will do it right, but they can't do it all. Why not delegate? You multiply your success. Do what you do best. Agents sell and list properties -that is what they do best. Let your assistant keep your schedule, handle paperwork, put up yard signs, mail cards, keep your books, etc. - that is what they do best.

Published: October 30, 1998

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Editor's Note: This article reflects the opinions of Monica Reynolds only and not necessarily the views of this or any other publication, organization or Website owner.