Time management is a tricky skill to master, regardless of the industry you operate in. Many real estate agents work alone, making time management all the more important. However, it’s essential to note that having good time management skills only makes a difference if we’re spending our time on the right activities.
The first step to maximizing your productivity is understanding what tasks you should be focusing on in order of importance; only then can you develop a daily, weekly, or monthly schedule that optimizes your time. It can help to look at the commonalities between the daily schedule of top agents throughout the country. Here’s what we noticed:
1. They had a clear plan each day.
2. They dedicated a significant part of that plan to prospecting their sphere, follow-ups, FSBO, Expireds, internet leads.
3. They took time for reflection and asked themselves what went well and what they could do better to be more productive the next day.
4. They were highly disciplined and committed to their time blocks.
The 80/20 Rule
The best way to figure out what activities you should be prioritizing is to consider the 80/20 Rule, also known as the Pareto Principle; this rule states that 20% of your activities generate 80% of your results. When it comes to organizing your time, your revenue-generating activities should always come first. Lead generation, follow-up, and conversion tasks are daily musts!
Consider key impact areas of your business to help you figure out what activities fit into which percentage: Service and Support, Product offering and Technology, Lead Generation, Marketing, Sales, Recruiting, Data Management, Client Relations, Work Culture, Accounting/Payroll, etc. Anything that can be outsourced falls into the 80% bucket. Ask yourself the following questions to really hone in on your priorities.
1. What are my high-impact activities?
2. Do my activities change depending on my game plan?
3. How do I focus on these activities?
4. What if I’m not good at these activities or skills?
5. What do I do to improve my skills at key activities?
Your daily schedule will be unique to you, but all agents should be dedicating a significant amount of time each day to lead generation, lead follow-up, and lead conversion tasks. Once you break down the activities that really matter, you’ll be able to make the most out of every minute in your day.