Top-performing real estate agents typically spend about 70% of their time on production-focused activities, most notably: new business prospecting, lead follow-up to secure appointments, and listing presentations. The remainder of their time is devoted to administrative activities, managing teams, and problem-solving.To be successful in real estate, you need to be committed to improving your production on a daily basis. In that regard, here are nine tips that can help you increase your production efforts:
- Be obsessive about managing your time effectively. Develop the discipline to plan your day with a focus on production.
- Remind yourself daily that this is your job, and hold yourself to the same standards you would if you were, in fact, working for someone else. Be on-time. Be prepared.
- Treat prospecting time as an important appointment that you have to keep. Block it off on your calendar and do not digress unless you absolutely have to.
- Embrace the reality that you’ll have periods of frustration, fear, and even loneliness. To think otherwise is to ignore the facts, which ultimately leads to more frustration. You’re not alone.
- Lean in on accountability partners, coaches, and role-playing partners. They’ll provide you with the objective feedback you need. There’s no need to wing it on your own.
- Reward yourself frequently for reaching short-term goals, even if it’s something as simple as making your “live contact” goal every day. We’re emotionally programmed to respond to rewards.
- Develop a business plan. If you don’t have a business plan, this is the perfect time to create one. Check out this BLOG POST for tips on creating a winning business plan. Once your plan is written, keep it in a handy place and review it, frequently. It serves as your constant reminder of what you’re trying to achieve in the months ahead.
- Know your numbers. Be totally diligent about tracking your performance on a daily, weekly, and monthly basis. Track how many hours you are actively prospecting. Track how many calls you’ve made and what percentage of those calls result in a live conversation. Track your ratio of live calls to listing presentations. Numbers don’t lie. Is what you’re doing working? If not, what adjustments do you need?
- End each business day with a few minutes of honest self-assessment. Congratulate yourself for what you did right today that moved your business forward. Where and how did you miss the mark? What adjustments do you need to make tomorrow?
There is much money to be made in real estate. But you need to be focused and disciplined about your production activities to achieve the success you deserve. Use these tips (and any others you’ve picked up along the way) to remind yourself of what’s necessary to keep your eye on the prize. Good luck.
