In the past week, I’ve found myself retelling the same story three or four times. And, as we all prepare to restructure or amp up our real estate business models for 2020, I think that this story is a valuable one to share with you.
I once crossed paths with a man who was self-employed and worked about 40 hours a week. Then, one day, I noticed that he wasn’t going to work each morning. Several days elapsed. And, I asked if everything was okay. I then learned that he had made a recent home insurance claim and the insurance company had given them a big fat check. So, this man felt that it would be okay to take some time off until the money ran out; then he would go back to work.
This is an absolutely true story.
At the time that I observed this, I didn’t think too much about it. I didn’t know that the seeds you sow now bear fruit in 90-120 days and may have a lifelong impact on your lead flow. No matter the amount of money coming in, it is absolutely vital to work a committed 35-40 hour workweek in the field of real estate, and don’t take off too much time to celebrate that awesome transaction that just closed.
One Deal at a Time
When you work on only one deal at a time and wait until the transaction closes and wait until the transaction closes, it is often difficult to get momentum for the next one. It is true that many folks have trouble balancing the needs of a specific client or a specific transaction with the need to attend to the other contacts in your database. A career in real estate is just like a juggler or a plate spinner in the circus; you’ve got to be able to keep multiple plates spinning in order to avoid the peaks and valleys in your income.
Here are 5 ways to structure your day to avoid peaks and valleys in your 2020 income:
- Work a set schedule each week, preferably 35 hours weekly.
- For at least 15 hours of your schedule, prospect through phone calls, emails, and coffee appointments.
- Create a fixed marketing schedule with regularly scheduled activities.
- Keep closing celebrations to under one hour. If you are closing 100+ deals a year; keep closing celebrations to 15 minutes.
- Rinse, lather, repeat.
As you begin to plan your 2020 work schedule and set your real estate closing goals, always remember the story of the man with the insurance windfall. The money may last a few months, but then it will be gone. A successful real estate agent like you wants to see regular sales throughout the year. The tips above will help you achieve just that!
Best wishes to you for a very happy holiday season and a wonderful new year!