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The Importance Of Time Management in Real Estate

The Importance of Time Management


Hello and welcome to Mike Ferry TV. This week of April 3rd. I am Ira Naiditch.


Time Management Techniques


Today we’re going to talk about one of our favorite subjects. Time management. How many times has Mike told us so many times that having a precise schedule can solve almost every production problem you have if you follow it? Are you following your schedule? Or do you even have a written schedule? You know, some business people are so bad at scheduling that it takes them an hour and a half to watch the TV show 60 Minutes. Now, I know that’s going to take some of you some time, maybe a minute or two to figure out. But there is one schedule that’s strictly kept. It still takes businessmen and women nine months to have a baby. Well, that’s because embryos never go on strike. They just do what they’re supposed to do, and they don’t stop until they’re done. What would happen if you did what you were supposed to do when you were supposed to do it? If you limit the amount of time you work, you force yourself to be effective in the time that you do work. And that’s the reason for a schedule so you can get done what you’re supposed to get done. Now, for those of you who may not currently be keeping a schedule, let’s talk about the three segments of a Mike Ferry-Trained agent’s day.


1.  Examples of time management for Mornings


First of all, there’s the proper morning routine. This is from the time you get up until about 12:00 PM noon. What time are you getting up? What time are you getting to the office? What can be done to organize this part of your day so you can be most effective? Well, an example of a perfect morning would look something like this. Arrive at the office at 7:30 AM and then from 7:30 AM to 8:00 AM, check your messages, check the For Sale By Owners, check the Expireds, and get yourself ready. And there are great affiliates like Arch Communication and Vulcan7 who can do a lot of that for you. Then from 8:00 AM to 8:30 AM, call for appointments and get any administrative work done. And then from 8:30 AM to 9:00 AM, role-play practice your scripts. That is so critical to do more practice and role-play. And then from 9:00 AM to 12:00 PM, prospect. Three hours. Then go to lunch and relax. This part of your schedule should be untouchable. Concrete, intense, and productive. Is yours?

“You know, some business people are so bad at scheduling that it takes them an hour and a half to watch the TV show 60 Minutes”

I know it’s hard, but if you could do it, just for that four-hour period each day, what difference would it make for your overall production and your income? How much money are you losing by not keeping that morning schedule untouchable? And again, I know it’s hard, but why let distractions get in the way? Do they when you’re on a listing appointment? I mean, when you’re on the listing appointment, do you stop to answer the phone, or do distractions get in the way when you’re in a church? “Pastor Wait! Wait! Could you please stop the sermon for a minute? This is an important call! This is a big customer! I’ve got to take this!” Well, of course, that would never happen. So why do we let distractions get in the way when we’re prospecting? Again, this morning’s schedule we call “Morning Time. Money Time.” It’s the most important of your day. There’s nothing in your personal or business life that can’t wait until noon. So that was the morning schedule.

2.   Sound time management skills: Afternoons

Next, we have the afternoon routine. The afternoon routine is from 12:00 PM noon until 3:00 PM. An example of a good afternoon routine would be from 12:00 PM to 1:00 PM. Eat lunch and relax. You need that time. You need that time to wind down because you’ve had a productive morning. And then from 1:00 PM to 2:30 PM return calls, do administrative work, do your CMAs, and study market stats. And from 2:30 PM to 3:00 PM do whatever administrative work still needs to be done and then there’s presentation time. From 3:00 PM to 7:00 PM. Prepare for appointments and go to appointments. If you’re not on an appointment, consider doing additional prospecting because if we don’t have appointments, we really need to schedule more.

“The more people who hold you accountable, the better off you are.”

Okay. Now once you have all that written down, it may look pretty easy. The key is following the schedule. Give a copy to those people who can hold you accountable. It could be your staff, it could be your Broker Manager, it could be your spouse or significant other. And if you’re really brave, you’ll give it to your clients because they’ll want to know what you’re doing. The more people who hold you accountable, the better off you are.

3.   Does your schedule align with your client’s goals? 

You know, I was sitting in an office visiting, and I saw a sign over the supervisor’s desk and it said, “If I wanted it tomorrow, I would have asked for it by tomorrow.” Interesting. What expectations do your clients have? Are you accommodating their wishes and expectations? Are you giving them things tomorrow that they really expected today? If you followed the schedule that we just discussed, how much easier would it be to both service your existing clients and generate new leads and set new appointments for new clients?

“the group of you who may be working 24/7. Why?”

And then there’s the group of you who may be working 24/7. Why? What other profession does that? And when you are working, are you doing those things that are income-producing or are you spending way too much time on the income-servicing parts of your business? While your schedule is a working document that can be somewhat flexible, imagine that Mike Ferry is personally sitting with you and watching you work. Would his assessments of your work habits be a positive reflection of how you’re treating your schedule? Or if not, what would Mike have you do differently?

4.  Income-increasing time-management tools

You know the answers to those questions. So what are you doing to prepare to improve in that area? Are you spending 75% to 80% of your time on the income-producing activities of prospecting, lead follow-up, physically going on appointments, negotiating contracts and role-playing or practicing to improve your skills? If you are great, if you’re not, how would your income change and increase? If you developed a schedule and followed that schedule, allowing you to spend 75% to 80% on those areas? The prospecting, lead follow-up, going on appointments, negotiating contracts, and practicing our skills.

5.   Flexible schedules… Flexible income?  

Time management skills. So important yet so ignored. How many of you got into this business we call Real Estate so that you could have a flexible schedule? Well, you can, as long as you accept that your production will not be as high and your income will not be as high as it could be.


You have goals, correct? They can be family goals, like a vacation or putting your kids through college. They could be anything. It could be buying a new car. The question is, are your goals important to you? If they are, your schedule is the ticket to success and your schedule needs to be written to support those great goals you have. That’s time management.  Having a precise schedule can solve almost every problem you have. Providing you follow it.

6.   When in doubt … talk to your Coach

If you’re having trouble with your schedule, talk to your Coach. If you don’t have a Coach, we certainly hope you’ll consider hiring one we would certainly be here for you and we’d love to be your Coach or go talk to your Broker or Manager. Whatever you decide to do, develop a schedule and follow it. And when distractions take you away, think about what you can do to prevent those distractions in the future. After all, isn’t that what would happen to you if you had a real job? Do you have a real job? Are you treating your Real Estate job like a real job? And if not, why not? And what are you willing to do about it?


Thanks for joining us today, and I hope this session on Mike Ferry TV was helpful to you. Now go have a great day and go list and sell some homes while I get back to my desk for my next Coaching Call. I have a schedule to follow.


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