How To Plan Your Tasks in Real Estate
There are a million tasks you "could" be working on in real estate, but which ones "should" you work on? This is true for building any business.
If other agents have built successful businesses, then there needs to be some framework we can implement that will put us on a similar trajectory.
To illustrate how to find the most appropriate tasks to focus on, all you need is the Eisenhower Matrix and an understanding of the "Magic Zone" in this table.
The matrix has four dimensions.
Let's explore how to leverage this matrix to best leverage your time as a real estate agent.
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Let's dive in!
Real Estate Tip
The Matrix Titles:
The categories have been are labelled with how you should approach each box.
Urgent and Important (Do):
This category is where most agents "think" they spend most of their time. Truly this consists of responding to client inquiries, showing properties, and handling transactions.
The nuances with this quadrant is most people "think" they are working here, when in fact, they are working in the 3rd quadrant (urgent and not important)
Action: Nothing should get in the way of this quadrant and you should prioritize this; however, don't fool yourself into thinking you're working here when you're actually in the 3rd quadrant
Not Urgent but Important (Schedule):
Here is the "Magic Zone." If you focus your business here, it will grow. These are the tasks that are pushed back by saying, "oh yeah, I'll get that done next [week/month/year]."
Personally, this area is MORE important than the urgent and important quadrant. Why?
Because urgent and important tasks get accomplished. Most agents will move their schedules for an important showing and stay up late to negotiate an offer. However, they will push back client follow-ups, asking for referrals, posting on social media, and updating your database.
Action: The action that worked for me understood the value of these tasks—specifically, client follow-ups and asking for referrals. For most, every 40-60 interactions and follow-ups resulted in a deal. If a deal is worth $10,000, then each call is worth $200. Understanding this was the action I needed to see the value of this quadrant.
Urgent but Not Important (Delegate):
This is a pernicious quadrant. Here is where most agents, unfortunately, live. This is responding to most emails, texts, and even many calls we receive as agents. This is not prospecting or dealing with active clients. Instead, you are doing supporting tasks that could be accomplished at a more appropriate time or hired out.
Action: Complete these tasks when you have lower energy (for me, this is the afternoon). Also, if you have the means, consider hiring a part-time assistant for VA.
Not Urgent and Not Important (Delete):
We tend to know this area when we see it: mindless social media scrolling, wandering around the internet, online shopping, Netflix. It's not that these tasks should be deleted from our lives, but they shouldn't find their way into our workday.
Action: If you spend too much time here, simply aim to cut your time back by 50% for one week. This 50% adjustment will be a challenge but is not impossible. Following your first week, you can now cut that time in half. Eventually, you end up with an appropriate amount of time that is not impacting your schedule.
Zoom Out: Below is a look at the four quadrants.
Looking for more tips and advanced strategies, you can catch Episode 183 on the Rev Real Estate School Podcast.
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