September 2, 2020

Arizona Business News

Time management tips for real estate agents

Being a real estate agent is tough.

You work so hard to bring in a lead…but there is still too much work to be done to close a deal. If you’re not in the office preparing purchase documents, you’re out there hosting an open house, inspecting the property, or having lunch with a lender.

A typical day fills in fast, and realtors often find themselves juggling multiple tasks to meet the day’s goals. But no matter how much you wish to accomplish, there are only 24 hours in a day. And you can only work for 7 to 12 hours daily before you start to burn out.

That means your time is limited!

So how can a real estate agent squeeze in all the daily tasks, without feeling squeezed? The secret lies in how you manage your time. In this post, we’ll discuss 4 tips on how to improve time management as a real estate agent.

1. Track Your Time

Tracking your time is critical for effective time management.

After all, you can’t improve how you use your time without understanding how you actually use it. Tracking your time provides insights into the inefficient processes—surfacing hidden time drains while highlighting areas that need improvement.

But how do you track your time?

Glad you asked. You can do this with the help of time tracking apps like RescueTime and Harvest. RescueTime tracks the time you spend on websites and applications while Harvest tracks the time spent on different tasks within a project.

2. Leverage Technology

Busy real estate agents can save time and money by leveraging technology.

This might mean automating repetitive tasks such as outreach, appointment scheduling, email follow-ups, text message marketing, website chat, and checklists creation. That said, transaction coordinator software is a good place to start.

With simple transaction coordinator software, you’re able to automate workflow and create detailed checklists for each deal. These specific checklists apply automatically based on deal type which not only saves you time but also allows you to see the necessary tasks automatically and quickly view transaction status information.

3. Allocate a Timeframe for Each Task

You probably have heard the saying “What gets measured gets managed.” If applied in real estate, this principle can save you a lot of time.

So how does it work?

‘Measure’ the time it takes to perform each task then allocate a timeframe for each based on your collected data. For example, if it takes around 20 minutes to create and post advertising ads on social media, your daily time allocation for social should be in the range of 15 – 30 minutes.

Should you find yourself spending more than an hour on social, you’ll be able to track and identify the activities that drained your time and flag them for better time management.

4. Delegate the Less Meaningful Tasks

Any discussion about time management for real estate agents would be incomplete without touching on delegation. There is just so much work for a single person to handle. Here’s a general rule of thumb:

If you do it more than 5 times a day, outsource it.

For example, do you often find yourself answering support related questions? Outsource it. You could hire a virtual assistant or delegate the role to your transaction coordinator. Do you post on social media platforms regularly? Consider hiring a social media manager.

By delegating the less meaningful tasks, you’ll have more time to handle the more important tasks and grow your business.