In the world of real estate it is far too easy to turn into a workaholic and a disorganized mess. You dont sleep because you fret over what could go wrong with your clients, you lay awake at night trying to check off your mental to-do list for the day and balance it with creating a new list for the next day. We work random hours and have no set schedule so how do you (and your family) cope? Here is my list of how to handle the workload and how to get a handle on handling your business.
* Breathe- Far too many people get flustered when they have too much going on. It is easy to lose your focus and to make a potentially costly mistake. Take a deep breath, find your center, and slow it down. You are the conduit for buyers to sellers, or vice-versa. Take the reigns and set the pace for the transaction. This is not to say take 3 days to respond back but unless you are at the end of your deadline dont freak yourself out. Which brings me to my next point.....
* Watch the Clock- Be aware of your deadlines and get things done as early as possible. It will be infinately easier to get things done the day someone asks for it. The shortsale process on Equator.com is a great example. Take the 5 minutes, get your homework done and then you can go and play.
*Schedule "ME" Time- set aside some time during the week, if you can make a scheduled day/time even better. For the rest of your week, you have to run on everyone else's schedule helping and negotiating and lets face it, psychologically coaxing your clients through a transaction. This time is for you. Have a hobby, read a book, or even just veg out on the sofa but that time is yours. Block it off in your schedule if you have to! If someone asks you have an appointment, of course you dont tell them its with yourself!!
*Make Lists- It doesnt have to be a formal fancy thing, just jot down the things you need to get done for the day, week, month, whatever works for you. And dont think lists are just for your to-dos either. In my office I have a big dry erase board with my listings and buyers written in different colored markers. Next to the listings is the expiration date and the price. Buyers get starred if they are a referral, the last date I spoke with them and a price range they are looking in. In one glance I can see who/what I have in my pipeline and it is immensely helpful for matching buyers and sellers!
* Color Code Everything- In my files, buyers are blue. Both words start with B and it was the highlighter I had on hand when I started my system. But the color coding on files is helpful for me. Buyers get a blue mark on one side of the manila folder tab once they are pre-qualified. The other side gets marked when they are under contract. Sellers are pink (again, the highlighters I had on hand). One side of the tab marked when the listing is signed, the other when it goes under contract. Which again leads to my last organization tip.....
*Use Folders- Manila folders are my best friend in real estate. They hold everything you could need for your clients, if you use them properly! Do NOT let you papers for a file go anywhere besides the file they belong to. If you dont have time to file something, put it in a "to be filed" bin and schedule some time to do it. Also, the great things about manila folders is you can write all over them or staple sheets to them. On the front of every clients folder that is in a transaction I have a sheet with all the details of the contract along with contact numbers for the buyer, mortgage company and loan officer, the other agent, and title and escrow. There is also a check list down at the bottom for every step of the transaction along with a little space for notes. It is a huge time saver since you never have to dig through your file to try and find the information you need!
On the topic of folders, I have also set up folders in my email for every client and as soon as I am done with an email pertaining to a client I send it right to the folder. That way all of my information is in one spot and easy to access.
I hope this can be useful to someone who wants to get organized but just needs a little push in the right direction. I started my career in real estate as an assistant and had to build an organization system from scratch. It isnt easy but once you can run like a well oiled machine you will have time to do what you enjoy and be able to sell even more!!!!!
Wednesday, September 21, 2011
Monday, August 22, 2011
Not So Great Expectations
Its a commonly heard saying in business, "Under promise, over deliver." However, it seems like more and more REALTORs get a bad rap for promising the moon and failing to deliver. Why do you think that is? And isn't that flying in the face of the previously quoted conventional wisdom? As agents, our job is to get listings and buyers. Even better when we can get both, but are you promising something that you cant deliver? Personally, I feel it is a matter of integrity to offer only what you can provide. A put your money where your mouth is situation. If you offer something do it!! And throw a little bonus in on the side to sweeten the deal. Going the extra mile is what will make people come back to you for help in the future!
When it comes to buyers and sellers having expectations, one of the things that will help out immensely is "front loading". Meaning at the beginning be honest with your clients. Have a net sheet drawn up, show how much commissions will be. Be honest about closing costs and what the cost will be to sell the home. If you are in a tricky situation i.e. short sale, show them the cost to sell versus the cost to carry the mortgage for the home for however long they want to stay and wait it out. In 99% of cases in real estate, honesty really is your best policy!!
When it comes to buyers and sellers having expectations, one of the things that will help out immensely is "front loading". Meaning at the beginning be honest with your clients. Have a net sheet drawn up, show how much commissions will be. Be honest about closing costs and what the cost will be to sell the home. If you are in a tricky situation i.e. short sale, show them the cost to sell versus the cost to carry the mortgage for the home for however long they want to stay and wait it out. In 99% of cases in real estate, honesty really is your best policy!!
Wednesday, August 17, 2011
REALTOR.com YPN Blog #1 A Message to and from a new agent
For my first YPN Lounge blog, I thought about what a new agent who has been licensed barely six months could bring to the table that more experienced agents would want to read about. Then I realized that with my “newbie” status, I could share how the newbies on the block see the business!
As a new agent, I think one of the most important things for us to do is find someone who we see as a mentor. If you are able to cultivate a working relationship with them, all the better. If not, find someone in your office, company, or area who works in a style you admire and just watch how they succeed. Watch what they do and then try to do it one better. It was probably one person who invented the wheel, but look at all we do with it today! The same goes for something you see as success story — you do it too, and do it better if you can!!! (Unless it’s copyright infringement, of course.)
Personally, I have been extremely lucky in landing in a situation where I had a strong and intelligent woman to take the reins in our office and share what works. Having a proven producer take you under their wing is a great way to boost not only your confidence, but also your street credibility. Watch them. Copy their style. Do their grunt work! It will pay off in the end. You will, in turn, pick up their habits that put them where they are today. Also pay attention to the tips and tricks your company gives you. They wouldn’t push it if it didn’t work.
And to the experienced agents… be nice!!! The new kids, while not necessarily having their feet under them, are still your colleagues. We are still learning and doing the best we can. A good manager will help get some of the kinks worked out, but everyone should be able to remember the first contract they wrote or their first listing that got an offer! Hopefully we can all play nice in the sandbox together.
As a new agent, I think one of the most important things for us to do is find someone who we see as a mentor. If you are able to cultivate a working relationship with them, all the better. If not, find someone in your office, company, or area who works in a style you admire and just watch how they succeed. Watch what they do and then try to do it one better. It was probably one person who invented the wheel, but look at all we do with it today! The same goes for something you see as success story — you do it too, and do it better if you can!!! (Unless it’s copyright infringement, of course.)
Personally, I have been extremely lucky in landing in a situation where I had a strong and intelligent woman to take the reins in our office and share what works. Having a proven producer take you under their wing is a great way to boost not only your confidence, but also your street credibility. Watch them. Copy their style. Do their grunt work! It will pay off in the end. You will, in turn, pick up their habits that put them where they are today. Also pay attention to the tips and tricks your company gives you. They wouldn’t push it if it didn’t work.
And to the experienced agents… be nice!!! The new kids, while not necessarily having their feet under them, are still your colleagues. We are still learning and doing the best we can. A good manager will help get some of the kinks worked out, but everyone should be able to remember the first contract they wrote or their first listing that got an offer! Hopefully we can all play nice in the sandbox together.
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