7 Time-Wasters That Could Cost You Your Real Estate Business



Real estate is a lucrative, competitive enterprise perfect for hard-working individuals ready to go the extra mile. However, running a successful agency can be challenging, especially if you lack clear action plans, have a sub-par strategy, or continually mismanage your time. The real estate industry is fast-paced and time-consuming, which means to be successful, you’ll have to spend your days efficiently. 

Forget 9-5—real estate is a round-the-clock gig. Scheduling is a balancing act between in-person showings and office management. When you’re not out-on-the-town showing-off one-of-a-kind properties, you’ll spend a large chunk of time marketing, advertising, and generating leads. Ultimately, real estate is a hectic, time-consuming profession that requires attention to detail and dedication to your craft.  

With a never-ending supply of responsibilities, agents—especially fresh-faced sellers—can become overwhelmed and burnt out without proper time-management techniques in place. The phrase “time is of the essence” has never rang more true than in the real estate industry, as timelines are rigid and delicate. However, successful agents have mastered scheduling complexities, allowing them to stay on track and prioritize client satisfaction. If you’re looking to jump into a lucrative profession with never-ending benefits, consider these time-management strategies to kick-start your career.

Time-management Strategies For Real Estate Agents

Despite popular beliefs, working 80 hour work weeks can set you back and significantly reduce productivity. In fact, burnt-out employees are more likely to make needless mistakes, creating extra work for them in the long run. Instead of exhausting yourself with unnecessarily long hours, work smarter, not harder, by implementing handy time management strategies specifically for realtors. 

Set up an easy-to-read schedule to layout your workday ahead of time, allowing you to pin-down scheduling conflicts beforehand. Delegate tasks to trusted assistants who can deal with minute details behind the scenes, streamlining processes and saving you time. Or, if all else fails, consider investing in a virtual office to assist with task management.

If you’re still struggling with managing your time as a real estate professional, consider the following time-wasters and eradicate them from your daily routine.

Disorganization

If you frequently lose track of emails, misplace client documentation, and misremember appointment times, it may be time for an organizational upgrade. Each day before you head home, organize documentation, sort through emails, and jot down notes in a planner to keep track of essential information. Utilize CRM platforms to quickly and efficiently manage leads and documentation, allowing you to spend more time on client satisfaction. 

Unhealthy social media obsessions

Even though social media is a powerful tool for discovering new leads, it’s easy to get carried away and focus on irrelevant comments or scroll from post to post during prime working hours. Set time limits for social media usage, and be sure to focus your efforts on responding to comments from serious buyers instead of sifting through comment after comment, wondering where the day has gone. 

An inability to set boundaries 

A perk of being a real estate agent is being your own boss and choosing your schedule. However, with great freedom comes great responsibility. If the line between work and home is blurred, you may find yourself overworked and exhausted. On the other hand, selecting your hours increases the risk of mismanaged time. Make sure you’re setting boundaries and following through to avoid burnout or unprofessional tendencies.

Mid-day Netflix binges 

Many real estate agents are currently working from home, and while remote offices have their perks, they also increase the risk for distractions. To evade hours of lost time, avoid turning on Netflix during your breaks as it’s easy to become enthralled and forget about your return to work. 

Falling prey to bargain hunters

While your goal is finding the best deal for your clients, the perfect bargain does not exist, and wasting your time searching is unproductive and tedious. Instead, focus on working with clients who have a set budget and avoid house-hunters with tiny budgets and big house dreams.

The bottom line

Taking the plunge into the real estate business is exciting and challenging all in one. Unlike typical 9-5 professions, estate agents make their schedules and manage their time independently, leading to mismanaged time and chaotic work weeks. Don’t fall prey to common real estate blunders and sidestep time-wasters to set yourself up for success.

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