Tips for your Real Estate Business and You

Stick to a Schedule

Working for yourself gives you great freedom but with that freedom comes an overwhelming responsibility.  It is wonderful to have the freedom to set your own hours and be in charge of your own calendar.  However, as a business owner, it’s easy to get overwhelmed by the ‘never-ending’ tasks you have to complete. This is why sticking to a schedule is vital to keeping you on track for not only your business, but your work/life balance as well. Start and end your day at set hours.  Designate specific times for dealing with administration, checking emails and running errands so you don’t get distracted by non-lead generating activities that waste time.

Invest in Relationships/Community

The heart of every good business is strong relationships, so you have to make building strong relationships your business! Calls, handwritten notes, or quick visits to your clients’ office or home with a small gift of appreciation are powerful ways to reach out and connect one on one with your clients and other ‘potential’ clients. Give back to your community and make a difference will also help improve relationships with your community and those in the community. When you go above and beyond to serve others through personal interactions or volunteerism, you prove your trustworthiness and show outstanding customer service.  This in turn becomes your megaphone for the marketplace, and you will reap the benefits through referrals.

Track Finances

When you are running your own business, finances are a serious matter. Always keep your Business and personal accounts separate.  Track all of your income and expenses for the business for Tax Purposes.  Set up a budget/spending plan for the Business and one for your Personal funds.  When handling your personal funds, factor in a rainy-day fund and retirement fund as well.  By getting your finances in order and following your spending plan for the business and your personal accounts, you will outlast the competition and be able to live a good life. Take a small business Tax Class or Lunch and Learn if needed.

Stay Motivated

In difficult and demanding times, it can be hard to stay upbeat and motivated. The real Estate business ebbs and flows constantly.  To remain positive and work through the ebbs and flows, be careful what you watch, read and listen to.  Tune into educational and informative podcasts from the National Association of REALTORS, state or local podcasts, or any of your other favorite podcasts that energize you.  Avoid people that drain you and seek out resources that provide facts-based knowledge and encourage growth and personal development.

Get a Mentor/Accountability Partner

Accountability is key when it comes to achieving goals.  We all do better when we have to answer to someone.  Find someone to be not just a MENTOR but an ACOUNTABILITY Partner. Someone who can give you tips and tricks on how they have worked the industry through the ups and downs.  The mentor should also help push you to be a better Business Person and encourage you, celebrate your successes, but also hold you to the fire and make you do what you promised (hold you Accountable)!  Some people go to Real Estate Coaches for this section.