Time Blocking for Realtors
“Use your time wisely.”
That echoed in my head throughout my school years. Of course, we all know it’s true – time is money and we need to make the most of it, but how to really dig in and do so can bog you down as a new agent. A lot of things in our business are, often, beyond our control, but many things can be scheduled, planned, and prepared for. In performing these tasks, you will have a more consistent and far-reaching effect.
1) Advertising –
Set up a marketing plan. As a new agent, I remember this being very difficult, and in the beginning, I was ready to take any and all business. H
owever, advertising all over the place, is ineffective, and you will quickly see your money go down the drain. Come up with a plan, stick to it and adjust as you begin to see results. Some of the things you can start with are below.
What is your farm area?
Does that bring back the real estate school class terminology to you? In choosing a farm area, sometimes it is best to pick a place you already know or live in (or have lived in), so you already have some base knowledge and edge. Starting from Scratch is ok too! Don’t go too far, but rather, go deep and stick to that area. You will eventually see results.
Establish a budget, frequency, method and media for what you are trying to accomplish.
You should be advertising to owners of properties you have Just Sold, properties you have Just Listed, Renters/Tenants, Apartment Complexes, Divorce Attorneys, Estate Attorneys, First time Buyers, Overseas Investors, Entire Communities, For Sale By Owners, Expired listings, and Past buyers and sellers for service and followup. Of course that is just the tip of the iceberg.
Remember, Each type of person you market to will require a different approach.
2) Get yourself out there
Don’t be afraid to ask for business. Let people know what you do and how you do it and what sets you apart from the competition. Let them know what they can expect from you. Leave your cards and info wherever you may go. Meet builders, lenders, title companies, and even other agents, as well as vendors who provide the services you or your clients may need. Invite people out of coffee, let them know how your great business practices will in turn grow their business.
b. Don’t underestimate the power of personal relationships.
Make your fun time work time. Every moment is an opportunity for a sale.
Followup is what my new agents tell me is the hardest thing to discipline themselves to do! Who should they followup and in what order?
New Leads are only as good as the plans you implement and should always come first. When it comes to a new lead, time is of the essence. As more technology and resources become available, buyers and sellers are calling us when they are closing to completing their transactions versus in the very beginning. If you won’t answer the phone, the can call someone who will.
What’s next? : Cold Leads, Past Sales, and Leads in Progress
The “pipeline” is a real thing! If you don’t have any sales in progress, you should be working to build some by reaching out to any of the above. How you do that is really up to you, but since you should have initial contact with each of them already, you know how best to communicate at this point.
4) Current Files
Set up weekly calls with your transaction coordinator, assign tasks and take advantage of the resources available to you. Make sure you set time aside to followup wit lenders, title companies and to assign yourself tasks as well as keep up with your transaction timeline.
Agents should also hold themselves accountable and update all active buyers and sellers each week with updates on their home and market values as needed.
5) Organizing your Things
Last minute showings a scary thing? Don’t let them be! Get your car cleaned as needed, and make time to track your mileage (or get an app!) and itemize your receipts. Organize your marketing material, and have your print materials ready to go so they are all super accessible when you need them last minute.
6) Market Research
Know your inventory, Know your Market, your competition, incentives, and know what sells! Knowledge is really up to you and the more local knowledge you have, the more buyers and sellers will want to tap in to using you as a resource. Be an expert in your farm area, go to open houses and view homes that may be in direct competition with your listings or in neighborhoods where you often show homes.