Without making time for the most profitable activities, I can tell you exactly what will happen — you are going to be spending time on the most urgent items which are almost never your most profitable activities. The reason why my lead generation book is so popular with top agents is because it points to the direction of the most profitable activities in real estate. One needs now to decipher how to implement these activities on a consistent basis.
Many of the activities we cover in our systems are not done consistently by many top agents in our country. For instance, you need to choose a few seller lead generation activities. Whether you choose for sale by owners, expireds, mature people in large homes, out-of-state owners, or any of the any other amazing systems that will produce seller leads, you need to find the time to make sure they are getting done on a consistent basis. By implementing the ideas, your listings will go up, increasing your buyer inquiries. Buyers, being the demanding lot that they are, will soon cause you to be jumping through hoops at all hours of the day, if you have not followed some of the ideas shared in Buyer Net Profit.
Without time-blocking, you will find that you will always be urgently busy without getting your most profitable activities done therefore your listings will fall and buyer activity will fall. The largest difference between mediocre real estate agents and top producers is that top agents always find time to keep their pipelines filled with the most profitable activities. The most profitable activities are, of course, lead generation activities. These activities are normally time-blocked by the top agent to do himself or herself or activities for the assistant to complete.
Let me give you an example – at 9am every morning, I knew that I would spend 15 minutes researching the expireds of that day. I spent more time than anyone else researching and getting better names, addresses, and phone numbers. I then spent another 15 to 30 minutes preparing letters for mailing in the firecracker tubes. I would then start calling those same prospects. On my way back from lunch, I would time-block my day to stop by one of the most expensive expireds each day. On my way home, I would try reaching those expireds who I could not reach earlier in the day. The next day after I called all the expireds, I went ahead and sent them my crumpled letter from the previous day. There was little or no negotiation with the time-blocks. The only thing that would allow me to look the other way is a listing presentation or a family emergency.
The other activities that I would like to make certain that you time-block are just as important as your seller lead generation activities, especially activities where you knew the exact number that you need to complete. Here is what I mean — if you have a 1,000 person database and there are approximately 300 working days in a year, you should be calling six people a day to get through your database with phone calls twice in a year. It would most likely be more calls in a day, because I would like for you to try calling three times before giving up and putting them back in rotation. The same goes for the letters to the database – if you are going to be sending one letter each quarter and there are 100 working days in a quarter, you will be sending approximately 10 letters a day to get all the letters to your database for that quarter.
The magic of breaking your business plan into time-blocked pieces is that it allows you to “eat the elephant” faster and more efficiently. It also allows you to write personal notes on those letters, hand-sign them, and see if any of the letters might require special handling.
Next post I will discuss time-blocking for listing leads, buyer leads, current sellers, and more.
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