How to start valuing your time

watch_by_computer-720230-edited.jpeg“…do not squander time, for that is the stuff life is made of.” - Benjamin Franklin

They say time is money, but we think that equation could use an update: time is far more valuable than money. Think about it: if you squander the money you have, you can always earn more of it. But you can never get your wasted time back. And yet some people just give their time away as if it were nothing: they fritter it away or worse, believe they’re using it wisely when really they’re just being “busy.”

Let’s acknowledge that there’s a huge difference between merely filling your time and valuing your time. Today, we’re sharing two powerful strategies to help you make the most of the finite amount of time you have each day. 

Strategy #1: Prioritize high-yield activities

As a broker, you do only two things during a regular working day:

  • Things that win business and close deals
  • Everything else

Every single thing you do fits into one of these categories. So if you truly want to master your time, put all the things that directly impact your ability to close a deal first. It sounds obvious, right? But how do you actually organize your time? We bet it’s a little bit of this and that: a bit of prospecting, some email, various admin tasks, and so on.

Try this approach instead. Take your to-do list and divide it into two columns: activities that can directly generate income and everything else.

Now jot down all the things you do that have a direct impact on your power to land a deal. For example:

  • Calling prospects and following up on solid leads
  • Having face-to-face meetings with high-quality leads
  • Showing properties to qualified prospects
  • Asking for referrals from existing or past clients
  • Marketing or promoting your listings
  • Marketing or promoting your services

In the other column, write down all of the things that do not have a direct impact on whether you win a deal. While these activities may be important (and shouldn’t be neglected), they do not directly bring money into your coffers. For example:

  • Responding to low-priority emails
  • Conducting research (important, yes, but your time’s better spent calling prospects)
  • Organizing or reviewing your client files
  • Updating your CRM data
  • Reading industry news and updates
  • Goal setting and planning

All of these things are important, and they indirectly impact your business. But if you have to choose what to do first, always go with the activities in the first category.

For a high-powered working day, front-load all of your high-yield activities: these should be the only thing you focus on before lunchtime. If you start each day by working on those things first, you’ll be light years ahead of the brokers who spent all morning answering emails or going over reports.

Strategy #2: Pursue only high-quality leads

Now imagine that you’ve got your call list in front of you, and you’re about to pick up and dial. Do you a) start at the top and start dialing, or b) prioritize high-quality leads?

While you’ve probably got a few leads that you check in on because they maybe one day might turn into real opportunities, let’s be honest for a moment: the chances of that are slim. Our advice? Focus all—or 98% of your attention—on high-quality leads that are most likely to yield results.

Some brokers sit down and call every possible prospect because something may pan out. And the problem is that this actually feels like a productive use of time. After all, they put in the work and dialed all those numbers. But how productive was it, really? If leads aren’t being converted into clients, that time was wasted.

Remember, just because you can get a lot “done” by reaching out to everyone and anyone doesn’t mean that you’re actually getting anything accomplished.

Taken together, these two strategies can help you prioritize how you spend your time, starting today.

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Topics: Best Practices