They vary widely in management styles, philosophies, and attitudes. But CEOs never lose sight of a very important fact: They are ultimately responsible for the success or failure of their business. And one thing I've found from talking with hundreds of agents from around the country, is that top producers approach things as if they are the CEO of their own business.

Once you incorporate this philosophy into your own business, what will happen? Chances are you will:

• Build the thriving, fulfilling career that you dream of -- where the money you deserve will follow;

   

• Begin to delegate more. Since highest and best use of your time is face-to-face interactions with clients, can you delegate some of the time-consuming, administrative tasks?

   

• Work with qualified prospects, by appointment, rather than rush out at the drop of a hat (or the ring of a phone) to show a house to someone who's more curious than serious about buying.

I bet you'll agree, that the top agents you know approach their careers with an entrepreneurial zeal in which they regard real estate as their business, not merely as their job! That's because they think like a CEO, plan like a CEO, and then act like an Agent CEO.

Most often, that type of planning includes the following "Six Steps to Success":

• Setting goals

   

• Creating a well-defined, achievable business plan

   

• Developing a budget

   

• Creating processes and work systems

   

• Staffing and delegating

   

• Evaluating everything they do for effectiveness

This process begins with knowing what you want. It is critical to set financial goals, and to break them down into transactions required and prospects (leads) needed to accomplish them.

When you create a business plan, one of the most important things you will be doing is planning ways to generate leads. Agents generally plan marketing and advertising campaigns. Some of their efforts focus on image-building and name recognition. The most important aspect of marketing should be lead generation. Without enough prospects, you cannot and will not reach your financial goals.

"Build a bigger funnel and pipeline," as we like to say.

Budgeting is essential, because you can't make a profit without it. I can't tell you how many agents I've spoken with around the country who don't even know how much they have made year-to-date, much less how much they have spent. It's absolutely imperative that you know how much you have coming in-and plan for it -- and how much you will be spending. You should be able to evaluate what sort of return on the dollar you are getting for your advertising/marketing spending.

Without a system in place to generate and cultivate leads, you are starting each day as a brand-new agent, complete with the peaks and valleys inherent in a disorganized business.

But in today's incredibly fast-paced and increasingly competitive marketplace, you need to integrate technology into your daily business; there is, in fact, no way around it. Again, take a look at those top producers you know. What separates them from everyone else? In so many cases, it is the way they have embraced technology as both a day-to-day business management and scheduling tool, and a customer service tool.

What if you could easily tap into the power of an automated e-mail marketing system that kept you in touch with all of your prospects? What if you had an online contact management system that made following up with past clients a breeze? Do you think you could make more money in less time? (The answer, in case you're still thinking about it, is absolutely.) There are Web-based programs that let you to do just that, so you can focus your time where you have the highest return: face to face with buyers and sellers.

Now that we've established that the best (i.e., most financially rewarding) use of your time is face to face, ask yourself:

• Can I delegate some of the time-consuming tasks that have less impact on my bottom line?

   

• Am I doing $10-per-hour (like filling flier boxes) or am I doing $300-per-hour jobs?

   

• Am I taking advantage of the cost-effective (and highly effective) technological tools and programs available?

Evaluate what is working for you: How many listing appointments does it take to obtain a listing? How many prospects do you need to obtain an appointment? How much money are you spending on advertising? How many leads are you generating? To be effective, you need to know your numbers!

How are you spending your time? Can you plan, hire help and delegate like a CEO, or do you feel like you need to do everything yourself? According to NAR, agents who hire assistants earn twice as much money as those who go it alone.

They also had more fun, because they delegated the tasks they didn't want to do and concentrated on the tasks that they enjoyed and that brought in money, like showing, selling, negotiating and listing.

By becoming the "CEO" of their own business, they created opportunities to do the things that convinced them to enter the real estate business in the first place: to make more money in less time and enjoy their free time!

Claudia Wicks is Director of Real Estate Training and Content for HouseValues, Inc. Claudia is a licensed real estate broker in the state of Washington, where she has worked for the last 27 years as an agent, broker/manager and Director of Training for Coldwell Banker and John L. Scott. Learn more about HouseValues here , or call toll-free 866-952-5042.