Oh yeah, can you feel it? The real estate market is on the upswing across the country, and I predict another seven-year cycle ahead. Everywhere I go and everyone I talk to is telling me how busy they are and how things seem to be improving. Now, we just need to let the media know!
Along with “busy” business comes reduced focus on the big picture. I feel strongly that a balanced real estate career is imperative to maintaining that “life outside of real estate” lifestyle we all so desperately desire; after all, our families would like to see us sometimes too! The pitfalls of our industry often include spending excess time “making hay” when the sun is shining, therefore ultimately throwing us out of balance in the other important areas of our life.
Maintaining Balance in Real Estate
So, how do you maintain balance? Well, here are some pointers to help you be productive and still remember the rest of the people in your life:
First, you need to have a business plan that outlines how much business you want to have this year, and where it is going to come from – your “food chain,” if you will. Once you know your goals, you can develop your time management component that best fits with your goals. A part of your plan must include your personal life, including vacations and time off to recharge your batteries. Take one vacation per quarter somewhere to catch up with yourself.
Next comes delegation. It is merely impossible to be everything to everyone, so consider your current status as a Realtor professional and maybe you need to start thinking about building a team. Remember, most successful agents are strong in sales, but weak in administrative duties. So, maybe a licensed assistant or part-time admin to help you with the details is in order. Next, consider looking at developing buyer’s agents and other key positions to round out your team. Treating your business like a business is the most important advice I can offer; build it for stability, and profitability will soon follow.
Broker/owners – now I’m talking to you. Be a leader and take the time to find out what is important in your agents’ lives; find the need and fill the need. If you have low-to-middle producers, help identify what will make them more productive, not just for the office benefit, but for their personal happiness too. Remember, happy, healthy and financially stable agents are of better service to their clients. Top producers need to know they are not just needed, but wanted. They have tremendous value and are often the ones overlooked the most. If you don’t take care of them, someone else will! Always keep it fun in your office with pizza parties filled with learning opportunities and fun tech updates that are simple to learn.
I think we all agree we would like to work smarter, not harder, so look for those systems that can help you focus on what you are good at, and leave the rest up to the system. Every technology ages; the only thing that stays the same is connecting with people. Don’t lose sight of high touch in this high tech world we live in. At EXIT Realty, for example, we have developed the best tools, systems and technology to assist our agents in growing their business and servicing their clients, and designed a unique compensation “formula” to help them have a life outside of real estate, thus creating balance.
Now brace for the future, and let’s all get growing in this exciting time.
Craig Witt is the president of the North Central Division of EXIT Realty Corp, which includes Iowa, Missouri, Wisconsin, Illinois, Michigan, Indiana and Ohio.