What does an agent’s work schedule need to look like to ensure success in 2024?
So what does an agent’s work schedule need to look like to ensure they’re successful in 2024? That’s what we’re going to tackle today. 2024 is likely going to be a challenging year for real estate. Home sales are down already and they’re likely to stay tamped down in 2024. Due to all the reasons we already know. High interest rates, low inventory, you fill in the blank, but we as agents can still be as successful as we need and or want to be, but it does require having a schedule that’s set up for success. And so today I want to go through a few of those things that I think are the most important, the important things that you need to have built into your schedule. And so what does that look like?
First, I think you have to ask yourself how many hours a week are you going to work? I think you just have to get really clear on that. How many hours a week are you going to work in real estate? Keeping in mind, by the way, everybody always wants to make a lot of money in real estate. I want to make six figures, or whatever it might be. We have to keep in mind that part-time work pays part-time wages. It doesn’t matter if you’re in real estate or anywhere else. And so having a commitment to full-time in real estate, if you’re looking for those types of results, is imperative. So how many hours a week are you going to work? You need to answer that for you. Everybody’s answer to that could be quite different. To make a significant amount of money in real estate though, you’re going to need to apply yourself 40 to 50 hours a week for sure.
So how does that break down? Great question. So let’s start with the most important factor. When you’re going to your calendar and plugging things in you need to have a time block in your calendar for lead generation of two to three hours every day, Monday through Friday. You just need to have it, need to stick to it. It’s a part of real estate. Nobody really likes the fact that you’ve got to reach out to people. A lot of it’s going to have to be on the phone, but you can also send text messages, Facebook messages, you can write handwritten notes, you can send emails. There’s a lot of ways, some far more effective than others. You do need to find your own way and what your own style is with that. But you need to be spending two to three hours a day every day, Monday through Friday on lead generation.
After that comes your showings and your listing appointments, presentations, you’re meeting potential clients, that type of thing. And you need to have time filled into your calendar that you’re going to dedicate to those. And then the goal of your lead generation is to fill in the names for those. But you need to assemble your calendar. That’s starting to bring this all together. Lead generation appointments, fill in the blank with the name afterward, but you’ve got them on your calendar. Then the goal is to figure out who they’re with.
The next thing you must do is personal development. You’ve got to work on yourself at least as hard as you work on your business. You’ve got to work on your mindset. You’ve got to be reading books that are going to help you with that positive mindset. You’ve got to be reading books that are going to help you with your business acumen
So you understand, we all think we’re running a business, but are we really? Are we embracing the concepts that true business owners actually put into play in their business? The only way to start learning this stuff at a higher level, is to read books and listen to podcasts. You need to make sure you’ve got some time in that calendar every week that you do that. Maybe it’s every Thursday from 10 to 12, noon, whatever it might be. You spend that time on your personal development, you growing you.
And then also I think you need to have a separate block of time dedicated to what I call market expertise. So a certain period of time every week, it’s in your calendar. Maybe it’s Wednesdays from one to three. Whatever you fill in the time where you get out into the marketplace and learn things about it you don’t already know. Start with a very close proximity to where you actually want to do or are doing real estate.
Learn the new construction neighborhoods. Learn more about the neighborhoods around you. Where are the first time home buyer neighborhoods? Do you have a good understanding of where they are? Do you know the pool communities? Do you know the golf course communities? Make sure you’re learning these neighborhoods. And importantly, the new construction part of it. Get out there and see the new construction. Understand it. Learn who the builders are, learn what, how they’re building the homes. Build your expertise around what’s happening in the market.
And on top of that, make sure you understand what is happening with average price points, sales, days on market. That data comes from the MLS, but layer that into your market knowledge. And if you do that every week in a few weeks, you’ve learned an enormous amount about the market. 3, 5, 6, 8, 10 months from now, you’re really starting to become what someone would call a market expert, and that is so important to the future of your real estate career and your future earnings.
So you’ve got to get that market expertise on your calendar. And then there’s another big one, a day off. You’ve got to get a day on your calendar, I believe, where it’s strictly a day off. You get away from your business. Maybe it’s on Wednesdays, you’re not going to work on Wednesdays. It’s going to be hard to have that day off, at least initially as you’re building your business on Saturday or Sunday. It just is, because a lot of people want to do real estate on Saturday and Sunday, and that’s what your whole goal is. Get out there with clients. So maybe it’s Wednesday, maybe it’s Thursday, but have a dedicated day off of your calendar every week. Protect your time and allow yourself to have some space from this crazy business we call real estate
So there you go. That’s really what I think your schedule needs to look like.
If I can help you think this through, if you want some counsel on how I manage my calendar, I’m happy to show it to you. Let me know how I can help. There’s a link below where you can book a strategy call with me. It’ll take you straight to my calendar where you can book a time for you and I to chat. We’ll just talk real estate, talk business. We’ll talk about what your biggest challenges are and how maybe I can help you.