In order to build a business as a real estate agent, you will need to set aside time to perform the necessary tasks. It will seem as though there are never enough hours in the day but, as you become more proficient with the work that needs to be accomplished, you will have more and more time available. You will never be able to get everything done that you want to do, but you will accomplish everything that needs to get done.

Prospecting

The number one skill necessary to be successful in real estate is to have the ability to create business. This is what prospecting is all about. Prospecting includes making telephone calls, networking, and sending out mailers. It includes open houses and door knocking — in short, everything that has the potential to bring you business. Block out prospecting time every workday; it is the most important thing that you do.

Using Floor Time Productively

Floor time, up time, or opportunity time — whatever name your office gives it, these are the hours you are asked to stay in the office and answer phones or otherwise be available for potential new business. This new business may come in due to your office's advertising, location, or reputation. It may be a phone call from someone who wants to buy or sell real estate or someone may walk into the office looking for an agent. Floor time can be productive but it can also be a few hours of nothing. Schedule your floor time but use those hours to continue prospecting. You may not be able to make phone calls, in case you are required to take calls from potential buyers and sellers, but you can address mailers, design flyers, or do other tasks that can be accomplished at any time. These tasks can be set aside if you do get new business from your floor time and they can be completed if you have nothing else to do.

Open Houses

On a slow day, an open house may end up being as quiet as sitting in your own living room. On a busy day, you may have many people come through to see the property. If it is quiet, treat the open house like floor time and work on your mailers and flyers. If it is busy, get to know the people who come through. Offer to keep in touch and, if they agree, get their contact information. Put them in your database and follow up with them the next day, and on a regular basis after that.

Showing Property

It is a little harder to block out specific time to show property than it is for floor time or open houses. You now have clients in the car and they have a schedule too. Some people look through homes quickly, eliminating the ones they don't like at a glance. Others may spend considerable time in each property. Let your buyer know up front how much time you have allotted to see property. You might say, “I have set aside three hours to look at homes today. We may not be able to see everything on our list but it has been my experience that, after three hours, it is harder to remember each individual house. If we need more time, we can get together and look again on Wednesday.”

Marketing

Set aside time for creating flyers and advertising, making calls to anyone who may be a buyer or have a buyer for your property. You may double book these tasks during floor time or an open house, but if you get busy and do not have the chance to accomplish them, it is a good idea to know they are elsewhere on your schedule. If you manage to accomplish them when double booking, you'll have some free time that you can spend any way you wish. You may want to make additional phone calls, take a client to lunch, or just go sit in the park with a good book.

Handling

Paperwork Create a calendar for every transaction so that you know what needs to be accomplished and when. Put those tasks on your to-do list and on your master calendar. Block out time to accomplish the items on the list, such as ordering inspections and coordinating with the lender.

As your business increases, paperwork increases. Some transactions can become quite complicated, but even “simple” transactions require attention and care to make it to closing. You will find this method very helpful to keep things from slipping through the cracks. Your clients will see your competence and appreciate the attention. That could mean referrals for you.

Continuing Education

Although their requirements differ, more and more states are increasing the amount of time you need in continuing-education credits. Block out time each month to take one or two classes. This way, you won't be scrambling to take everything that is required in a few weeks, or worse, a few days, as your license comes due.

You can also block out time for continuing education that has a value to you, other than license credits. You may want to take up a foreign language to help with potential clients who may otherwise be missed. You may want to take a personal marketing class or a seminar about a local project that is under way (such as a new shopping mall being built). In other words, don't limit your classes to those that give you continuing-education credits, but don't neglect the requirements of your state either.

The Ringing Phone

A natural concern about building your business could lead you to answer every phone call as it comes in, but that can sometimes be inefficient. If you have nothing to do, or you are just addressing envelopes or putting stamps on postcards, it's okay to take every phone call. However, if you are in the middle of something important or complicated, it may be unwise to answer the phone and derail your train of thought. Shifting gears too often can cause you to lose focus — and you can't afford a breakdown.

Do some time-blocking with your calls so that the ringing phone does not rule your time. Time-blocking means that you return calls during a certain period of time. It helps if you change the outgoing message on your voice mail every day. For example: “Hi, this is Annie Agent. It is Monday the fourth and I will be showing property part of the day. I will be returning calls between eleven and twelve and again between four and five. Please leave your name and a number where you can be reached during those hours. I look forward to speaking with you.” This message gives callers a sketch of your schedule for the day, and an idea of when they can expect to hear from you.