Pin down productive vs non-productive time
Are you putting first things first? These pointers will give you a good indication of where you need to focus your attention
Priority one: productive time
Realtors help clients make the best possible decisions when buying and/or selling property. If we never did that, we would never be paid. It is the talent we bring to our operating theatre. Productive time is time spent engaging with a buyer or seller. Once a relationship is built and they get to know, respect and trust you, they are more likely to become repeat clients. Consequently, they are less likely to disagree with your opinions or negotiate your fee.
Priority two: indirectly productive time
To achieve our first priority, we need to find new buyers and sellers. Indirectly productive time is therefore time spent proactively engaging with lead generation. Without that, we would never find ourselves in our operating theatre. The focus here should be referred clients. Someone they know and respect has raved about you, so they are predisposed to trusting you and are less likely to question your ideas and rates. The last type of client – strangers – will not know you at all so it will take more time to build up a relationship with them.
Priority three: Nonproductive time
After we have gained additional clients and have helped them buy or sell their property, there is still the transactional maintenance needed to reach the settlement. While this is neither productive nor indirectly productive, it is still important – it’s just not the best use of our talents.
Based on the above, how did you spend your time last week? Did you put first things first? If you can accurately measure how you spend your working day, week and month, you will become much better at managing your time appropriately and develop the habit of putting the most important things first.
“Productive time is time spent engaging with a buyer or seller”
Ed Hatch is the president of Ed Hatch Seminars and a senior instructor for the Council of Residential Specialists in the US, UK, Europe, Africa and Asia. Based in the US, Hatch has addressed international audiences since 1990 on topics including negotiation, business and strategic planning, customer service and leadership
Words Ed Hatch