Jack Daly, author of the best sales book, “Hyper Sales Growth”, correctly stated that “If you don’t have an administrative assistant, you are one”.

[Tweet “If you don’t have an administrative assistant, you are one. ~ Jack Daly”]

In our annual survey of commercial real estate professionals, respondents overwhelmingly stated that they are mostly in reactive mode during their days and often ask themselves where their time goes.

One of the critical factors in utilizing your time as effectively as possible is to ensure you are only working on your most productive activities. For someone responsible for originating deals, this would include tasks such as prospecting, listing, negotiating and closing. There are certainly productive, non-transaction related activities, such as planning, budgeting and self-development.

[Tweet “Effective time utilization = working ONLY on your most productive activities.”]

In regards to those non-productive activities, top producers leverage the fine art of delegation.

5 CRITICAL STEPS TO DELEGATION

 

1) Share your vision of the end result with your team, administrative staff, and/or vendors.

Simply telling someone what to do is easy and will most likely result in miscommunication and ultimately wasted time. Don’t just tell your team what to do, but why. Empower them to understand the ultimate goal of the task.

2) Set clear expectations on when you need it to be completed.

Be specific on timelines and confirm understanding of when a project needs to be delivered. Don’t just suggest “by Tuesday”, but stated “I need the draft by Tuesday at noon.”

3) Be realistic in your expectations.

Before you share what you want and when you want it, you need to perform a reality check. First, in commercial real estate nothing is life and death (some may suggest it’s more important than that, but it isn’t). Secondly, as a leader, you need to provide adequate notification and resources to your team for them to meet your realistic expectations.

4) Have the necessary systems in place to monitor progress such as a shared CRM system.

Today there are a plethora of platform options to delegate tasks and monitor progress within the framework of a team or even through vendors.

5) Remind yourself that “I can do it better and faster myself” will not make you wealthier!

If it’s not a productive activity, you really should not be performing the task. Whether it’s market research or picking up dry cleaning, there are always alternatives that are much less costly than your personal productive time.

[Tweet “You cannot get time back. Once it’s gone, it’s gone.”]

The fact is you cannot get time back. Once it’s gone, it’s gone. However, you can decide how you wish to allocate and utilize the time you have.

If time management is a challenge for you I invite you to check out our free audio series regarding the 2 greatest challenges of CRE success. You can click here to access it now.

Recent Posts

RECon 2018 Review – 3 Glaring Negatives

This week I made my annual trek to Las Vegas for the greatest commercial real estate show on earth. ICSC’s RECon 2018 had all the pomp and circumstance as the last 7 years (my consecutive attendance streak), including: the big booths, extravagant parties (shout out to...

The 5 Pillars to Grow a Great CRE Business

When I was running my own commercial real estate firm, I was busy. I would characterize most days as chaotic. Even when I did have a plan for the day, distractions, interruptions, and opportunities would appear from nowhere and knock me off course. I had bought into...

A Simple Yet Powerful CRE Marketing Tool

The following blog post is from HBS Resources President and Massimo Group coach, Blaine Strickland. I am thrilled to share that Blaine has just launched his first book, Thrive: Ten Prescriptions for Exceptional Performance as a Commercial Real Estate Agent. In today’s...

How to Find Your Specialty with 3 Questions

I am continually surprised by Commercial Real Estate brokers who lack a specialty. All top performers in CRE have a specialty. Yet, those mired in mediocrity refuse to hone in on what they can be awesome at doing. In fact, business owners of all kinds often have this...

4 Ways To Make Telephone Prospecting Easy

I once worked with a commercial real estate brokerage manager who said there were two types of people in the world – those that didn’t like to cold call, and those that lie about liking cold calling. He might have overstated his point a bit, but he does have a point....

Here’s My Weekly Plan for Maximum Results

With our coaching clients, we implement a productivity program - appropriately termed I.P.A.I.D.™. This process allows them to look back at every day and answer “yes” to the question: “Was I paid today?” I also use this approach in planning for my week. Every Sunday...