It’s so important to break down how much time you need to allocate to the different focus areas of your business. If you are not clear on how much time you need to spend in your CORE focus area of business building then watch the video! The formula is simple and getting this right will have a massive impact!
Click to watch the video (or simply read the transcript) below to learn more.
Here is another Coaching on the Go Moment from real estate coach Caroline Bolderston.
How to identify how much time is enough
Every time I onboard a new agent that I’m working with, I strip away their business. I start to unravel what’s currently going on, identify any gaps and we can rebuild. I have found that something keeps coming up, to me, it seems obvious and those that have been in the industry might have heard this over and over. Are you spending enough time in the number one fundamental activity of business building?
Yes, of course, I’m talking prospecting!
“Are you spending enough time is the question?”
I’ve realised that for some agents they don’t even know how much is enough time. They also struggle to identify what it needs to look like and how to structure it.
Prospecting formula
I thought I’d start with the basics and share with you that if you just look at this simplistically, most real estate agents who are working full time, this is minimum of 50 to 60 hours per week, should be spending a minimum of 20% of their time right in core and by this, I’m referring to business building.
This is where you should be reconnecting with those in your database around listings and sales. Whether they are your own or other agents. Looking at your past appraisals, your pipeline, obviously working with your key buyers.
The right formula for you
20% of 50 hours = 10 hours a week.
20% of 60 hours = 12 hours a week.
The question is this, how many hours are you spending in clear laser-sharp focus business building time?
Is it 10 to 12 hours per week? If it isn’t, we need to get it there.
A suggestion for you over the next week or two is to document how long you’re spending in that core fundamental activity. You might discover where the gap might lie.
I’ll leave that with you and I am keen to see how you go with that.
Reach out, I’d love to know your comments on this.
If you have a genuine desire to serve your clients, work hard and become the best you can be – contact me via the section below to discuss how coaching can work for you.
