Being a real estate agent is challenging, to say the least. You spend most of your time trying to juggle multiple tasks to meet your goals for the day, yet you realize that you can only work for a certain number of hours before starting to burn out.
You might’ve asked, “how do I fit all these tasks in a day without feeling overworked?” Here are proven tips by Rob Thomson of Jupiter, Florida that you can apply to help you save time and money:
Create a To-Do List
At the end of each day or week, map out a plan by making a to-do list. If you continue working without a clear set of tasks, you’re more likely to let your attention wander to less important activities rather than the ones you should prioritize. Once this occurs, you’re not only putting off essential responsibilities but also leads to delays that’ll prove costly in the long run.
By putting together a list that’ll ensure that you keep your most important tasks in mind, you’ll be able to avoid these unnecessary hold-ups. Indeed, it’s satisfying to place a checkmark next to a to-do that you’ve just accomplished. Moreover, coming up with a to-do list at the end of a long day or week is an excellent way to unload your mind and put it at ease, so you can truly relax on your days off.
Establish a Routine
Throughout your career as a realtor, you won’t probably encounter two days that are 100% identical. Today, you might be in several showings, and tomorrow will be a lot less hectic with only one or two appointments.
Nevertheless, it’s still a must to create a routine, especially for the things that are within your control — your waking time, workout practice, administrative duties, bonding time with family and friends, etc.
Establishing a routine provides you numerous benefits, including reduced procrastination, increased productivity, and decreased stress. You must turn it into an integral part of your overall strategy so that no aspect of your career and personal life gets overlooked.
Leverage Technology
A busy schedule often goes hand in hand with being a real estate agent. That’s why it’s a must for you to learn how to leverage technology to your advantage so that you can save both time and money.
One good example is the automation of routine tasks like appointment scheduling, text message marketing, email follow-ups, outreach, website chat, and checklist production. To facilitate this, investing in transaction coordinator software is one of the things you should strongly consider.
Tools such as this make it possible for you to automate workflow and come up with detailed checklists for each of your deals. Once fully operational, you’ll be able to do things a lot faster, like viewing your tasks automatically in order of importance.
Learn to Delegate Tasks
Let’s face it: doing less work is the easiest way to save time. However, if you’re a realtor who’s in the process of expanding your market, this is counterintuitive. Results of several studies show that the more effort you put in, the quicker your business grows.
As a real estate professional, you can certainly choose among several options to delegate tasks in your business venture. It can be as simple as hiring a front desk staff to perform specific duties, such as administrative tasks, answering phones, scheduling calls, etc.
You may also consider hiring a virtual or in-house assistant, although it isn’t the most cost-effective move if you’re just starting or working for a smaller firm. Hiring outside help is worthwhile if it helps you enhance your brand, expand your business, and save you time. After all, there’s only so much work that a single person can handle.
Opt for Free Listings
There’s no need to pull out your wallet to pay for a listing, with so many websites and companies out there that cater to real estate agents free of charge. With so many other expenses that you have to take care of, wasting your money to secure a listing is the last thing you should ever do.
To make the most out of these offerings, make sure to exert effort in doing your homework to become aware of what’s up for grabs. The internet is filled with information, and you should be sponge-like, absorbing anything and everything you can about the available opportunities in the market.
Take Advantage of Real Estate Tax Deductions
Finally, you can take advantage of more than a few tax deductions as a real estate agent, some of which are as follows:
Commissions Paid
The fully deductible business expenses include commissions you pay to other realtors or employees that work under or with you.
Desk Fees
Desk fees between you and your broker are also deductible. However, you must keep in mind that taking the deduction for brokerage desk fees will render you ineligible to file a claim for a home office deduction.
Home Office
You can take advantage of the home office deduction if you’re conducting business out of your home, provided that you haven’t deducted desk fees yet.
Marketing and Advertising Expenses
Advertising expenses, particularly marketing materials, photography, staging, and signages, can all be deductibles.
Office Supplies and Equipment
Regardless if you’ve already deducted desk fees or home-office expenses, you can still claim other office-related expenditures, including photocopies, post-its, and other consumables you need to run your business.
Standard Auto
Every mile you drive while conducting business can be deducted from your taxes through the standard auto deduction. So, if you’re on the road for a minimum of 10,000 miles annually, you can expect significant tax benefits.
(For more detailed information about real estate tax deductions, please take the time to consult with a tax resolution professional near you.)
Managing your time and money requires skill and a considerable amount of discipline. By applying the tips that Rob Thomson of Jupiter, Florida, mentioned here, you should be able to manage your time and make your hard-earned profit work for you, even in the long run.