To build your real estate empire and reach each of your goals you will need to manage your time effectively so you have enough of it to do your business but also have the time to take care of personal and family matters. This will take planning and discipline and a lot of hard work from you. You will have to balance everything in your personal and business life so you can devote the proper amount of time to building your real estate empire without it interfering with your family. You need to make the time to do your business and you need to make the time to take care of everything else you need to do each day.
Now, many of you will start your business as a part–time venture, and that is perfectly fine, but take into consideration that deals can be available one minute and gone the next. So managing your calendar, and staying available to resolve situations as they come up, is key. Make sure you allocate enough time to spend on your offers, respond to emails, and answer all your calls. Buyers and sellers are going to want to speak with you and you have to make sure you let them know when you are available. When we started in this business, we each had a full time job and we were finishing up our bachelors in Business. But we still had to be available all the time for calls as the business grew. After a couple of years we were able to establish a system where we could manage all the communications and still make sure no deal was at risk. But this will be different for everyone in respect to how you organize your day, your month, and your year. Being extremely organized and managing your time is key!
What we see in many of our students or aspiring investors is that because they have more freedom to manage their day, they start filling up it up with things that will not bring the results to them that they want. Make sure you have a clear to-do list that needs to be completed before the end of the day and an agenda to allocate those activities that will need to get done for the day. Otherwise you will find yourself very busy but going nowhere and having no results.
To make sure you have a block of time set out for your business, you need to actually plan out your day. To do this you will need to make a timetable each day of what tasks you are going to do and what times you are going to do them. As an example, below is a timetable of a typical day for a real estate person:
6 am to 7 am – Workout
7 am to 8 am – Have breakfast; take a shower; get dressed
(morning routine to get ready for the day)
8 am to 9 am – Send offers for the day
9 am to 10 am – Check and reply to voice and text messages and emails
10am to 11 am – Get updates on current closings and deals
11 am to 12 noon – Make list of properties you need to see today and tomorrow or clients you will meet.
12 noon to 1 pm – Lunch, and check and respond to calls, texts, and emails (that are only relevant to your business today right now)
1 pm to 3 pm – See properties and meet clients
3 pm to 5 pm – Reply to emails, take care of any loose ends and set to do list for the next day.
5 pm to 8:30 pm – Dinner and time with family;
8:30 pm to 10 pm – Journal, read and relax before bed
As you can see in the above example, that person has made blocks of time to work exclusively on their business and nothing else with any interruptions. Everything else for the day is also set out into blocks of time. It may seem a little silly to divide up your day into very specific time frames and tasks, but once you do it and practice it you will love the way it frees up your work day and lets you stay focused on doing real estate.
There are many types of time and project management resources you can use to improve on your time management and set out your blocks of time. A simple notebook can work well if you organize it properly into specific sections on each page. Physical planners, that have a cover case that holds loose-leaf pages that divide up the year by each day, allow you to plan out each hour of your day and are still in use today. You can find these planners at your local stationary supply store or online.
In today’s electronic society, your phone, tablet, or laptop can easily be used to manage your time. Most of today’s cell and smartphones come with calendar programs that let you schedule out your day and even remind you when you have pending tasks to do. You can also install third-party software that will give you even more flexibility to manage your time.
Whatever method you use to properly manage your time, make sure that you use it daily. Once you get into the habit of scheduling out your day and setting aside blocks of times for specific tasks, you find yourself to be more productive and getting the things done to build your real estate business.
Remember that your time is important and if you can’t devote the time to your business then you can’t build your real estate empire. Make sure you manage your time correctly and you will be on your way to achieving your WHY.