The more clients you represent, the more income you can earn in your real estate business. But your time and energy only stretches so far, and sometimes, realtors bite off more than they can chew.
Real estate can be a rewarding and profitable career, but an inability to manage your time and balance multiple clients can take the joy out of the business.
Here are several tips for success:
1. Know what you can handle
Figuring out the number of clients you can juggle at one time is a matter of trial and error. Until you know your max, add new clients at a steady pace. When you receive multiple leads, it’s tempting to accept everyone as a new client. A better approach, however, is adding one client at a time. Allow yourself time to adjust to the additional workload, and only add another client if you can handle more work. Adding two or three new clients within a span of days while working with other families can overwhelm you.
2. Get help behind the scenes
Maintaining a steady income as a real estate agent requires constant marketing. Not only will you list properties on the multiple listing service and have open houses, you can build your clientele and reputation through your website and social media accounts.
But writing blog content and managing a LinkedIn, Twitter or Facebook account is time-consuming. If your business is booming and you don't have time for everything on your plate, get a personal assistant or hire someone part-time to handle some aspects of your business.
3. Focus on neighborhoods close to your home or office
If possible, another option is concentrating your business in neighborhoods or sections close to where you live or work. You'll spend less time driving around which saves time and money. In all likelihood, there are plenty of opportunities to get new listings or help buyers find properties within select neighborhoods. And when you concentrate your efforts in specific areas, you’re able to learn these neighborhoods inside and out which lets you quickly locate properties to match a buyer’s needs.
4. Use technology
Taking advantage of technology is another way to manage your time while balancing multiple clients. Rather than meet clients face-to-face to drop off information, you can scan and email documents directly to them.
5. Don’t procrastinate
Procrastinate can throw off your schedule, and you could end up working twice as long. This is the case no matter the career. To improve your time-management skills, stop procrastinating and putting off work.
Each night before work or at the beginning of each week, create a to-do list and prioritize each task. As you’re making this list, be realistic about your availability during the day. You’ll always be behind on work if you overbook your schedule.
6. Give yourself deadlines
If time management isn’t your strongest skill, not only should you have a to-do list and prioritize tasks, you should give yourself deadlines for completing different assignments. This way, you don’t spend more time than necessary handling different sides of your business.
Let’s say you’re handling your own blog content and social media. Have a set day to work on these projects each week, and then limit the amount of time you spend on projects. You don’t need to be perfect to be efficient. You can also assign yourself time limits when meeting with clients, according to their needs. You don't want to rush these meetings, but at the same time you don't want meetings to run longer than they need to. A long meeting could make you late for your next appointment and throw off your schedule.
7. Make every second count
You'll have clients texting, emailing and calling throughout the day, and you'll touch base with them to provide feedback and discuss offers. You have to make the most of every second. This doesn't mean you can't take a break, but multitasking is essential in real estate. If you're on the way to meet a client and you have a 20-minute drive, get a hands-free headset for your phone and contact other clients on the ride. You can knock out two birds with one stone and cross off a few items from your daily schedule while sitting in your car.