Time is the most valuable thing there is in this world! Think about it…it’s the one thing that there is a fixed amount of. If you need more time, you can go out and buy some. You can’t work harder and earn more. There simply is what there is… and NO MORE. Ask any parent of toddlers (like me) how valuable their time is and you’ll probably get a pretty animated response. First; kids just grow up so fast (cliché, I know). You blink and your little one is crawling. You blink again and they’re taking their first steps. Next thing you know your sending your kiddos off to their first day of kindergarten and college is right around the corner. Secondly, I often feel like I only get mere minutes with my little guys each night. I have maybe two hours between the time I pick them up for day care to the time I put them to bed. In that time, I need to feed them, bathe them, engage them, read to them, supervise clean up and get them to brush their teeth. What I would do to have just another 30 minutes every night just to hang out with them? Time is precious…
In order to get extend my time with my family I have to find a way to be better with my time at work. Life in any business, especially real estate, can be just as busy and leave you yearning for more time to accomplish your goals. Effectively Time Blocking can make you significantly more efficient and make you feel like there are a few more hours in the day. Here’s my breakdown on those critical categories and actions that can make you more successful.
4 Areas of Time Blocking
#1 Time Blocking– Lead Generation/Prospecting (3hrs)
As an agent this needs to be your #1 priority each and every day. It doesn’t matter if you’re a new realtor or a veteran, YOU MUST GENERATE LEADS. You should treat this as an appointment that cannot be moved!!! For that reason, we strongly encourage…insist…YELL AT YOU…to set it in your daily appointment schedule. If it’s not on your calendar, it’s not important and it’s probably NOT going to happen (you know what else is probably isn’t going to happen…? You making money.) Sorry for the harsh words, but this is how strongly I feel about this. Let’s define it to be clear; Lead Generation/Prospecting is the actions that you take to create/engage NEW business. If you’ve already communicated to an individual, talking to them again is NOT considered lead generation. That would fall under Lead Follow-Up. Typical actions that should be considered Lead Generation are…
Calling on For Sale by Owners (FSBO) and Expires
Social Media Marketing
Any time you neglect THIS area of your business you are asking for trouble!!! You must consistently be working to create new business. If you don’t, you’ll find yourself having some pretty horrible months throughout the year that can wreak havoc on your life. Consistency is the key on this one.
Any time you are conducting an Open House you should be making phone calls and working your PPC, FSBOs, and Expires. This way you are double dipping your lead generation time. This goes for week days as well as weekends.
Social Media is a great way to reach the masses!!! However, doing it through the work day is NOT the most effective and efficient way to utilize this tool. Most consumers engage their social media between the hours of 8-10pm. So, that’s when you should be promoting yourself as a realtor…NOT at 10am during your prospecting time.
Within your Lead Generation block you should dedicate 1 hour of time to Lead Follow-Up. This is where you reach out to clients you’ve already had an initial conversation with. However you categorize your database you should also have a created standard and expectation for how often you are reaching out. Whether it be once a day for a “HOT” Lead or once a quarter for an “ARCHIEVED” lead this is where you should be taking the time out of your schedule to make those calls.
#2 Time Blocking– Appointments (2-3 hrs)
Setting appointments is one of the best lead indicators for future business. The more appointments that you can set the more your business is going to grow. For that reason, you should be looking to establish a daily Time Block for this action. You should also be looking to shift the time of day throughout the week that you can set appointments to better facilitate the needs of your clients. For example, mornings are open for some of your clients and afternoons are better for others. If you have both time frames available throughout the week it should be easy to accommodate your clients wants while trying to maintain the integrity of your Time Blocking schedule. Obviously, your client’s needs should supersede your schedule! Especially, in the appointments department!!!
If you have 15 hours of appointments throughout a week…YOU ARE A ROCK STAR!!! (Message me and let me pick your brain) However, if you don’t, you can simply plug in Lead Generation activities in those open gaps. Again, putting in time into Lead Generation is the biggest part of building your business. You can NEVER put too much time into it!!!
#3 Time Blocking- Farming (2hrs)
I look at farming a little differently than traditional lead generation/prospecting. This is reaching out to your neighborhood and growing your community along with your business. When you truly invest in your farm you should be able to close 1 deal a month within it…maybe more. Some of the activities I would consider part of effective farming are…
Facebook Community Page
Nightly walking of the neighborhood
For more details on this, refer to: Effective Farming: 4 Ways to Improve your Farming
#4 Time Blocking- Business Development (1-2 hrs)
Each and every day you should be taking an inventory of the industry and your business. You should be consistently looking for ways to make yourself more efficient and effective, because in the end that will have a definitive impact on your bottom line and your capacity. For that reason, you should dedicate part of each day to the development and research of new systems. Be proactive…NOT reactive to your growth! Some items that you may like to look into could be…
Who Benefits from Time Blocking
Simple answer is EVERYONE!!! But, let’s break it down anyway and hit the extremes.
For an WILDLY SUCCESSFUL AGENTS Time Blocking is critical. Each morning sitting down and establishing your goals can help you stay focused and equip you to battle the constant diversions that you’ll be facing throughout the day. Understanding that you have built in categories that have been blocked out for specific activities will ensure that you don’t become consumed and over allocate to a specific task. This to me is the most significant benefit to Time Blocking for established agents. Too often do agents find themselves on a rollercoaster of revenue through the year. This is because they fail to balance their daily/weekly schedule and neglect their prospecting time. Disciplined Time Blocking and consistent execution of the schedule will ensure that you have a steady income year round.
For those new realtors Time Blocking can be a game changer for your business. These agents may not be inundated with the myriad of daily task that can come at a more established agent. Instead the new agent has to battle a massive abys of time. Time can be daunting when you don’t have defined task to fill it. Look at a person that is recently retired compared to someone is in the prime of their professional career. The professional may be able to successfully accomplish 20, maybe 30 task, in a given day. Whereas a person that retired might feel pretty accomplished when they get 3 items off their checklist. BIG DIFFERENCE…HUGE DIFFERENCE!!! That’s because the retired person can push the checklist off until the next day. They have NO defined deadline. Deadlines push us all to achieve goals and complete our checklist. No deadlines…No achievements. For that reason, a new agent MUST Time Block with a start time and end time for each task specifically establish. This will give those agents a set deadline that they have to reach their goals. NOW, we’re starting to achieve!!!
For more details on this, refer to: Keep your Focus: Lead Indicators and Scoreboard
I have a whole Pot of Gold with a complete breakdown of the weekly calendar. NO WORRIES…you can have it for FREE!!!