Whether you’re just starting in real estate or aiming to get into higher-priced markets, how you allocate your time and energy has a big role in your success. Ben Bacal, a top broker with over 13 years of experience, is one of the biggest names in high-end real estate. Here’s why he says the most powerful use of your time is through building a team, delegate tasks, and focusing your efforts toward earning listings.
Get out there and prospect
There are no shortcuts to get your foot in the door: it’s all about prospecting. From day 1, Bacal understood the value of putting in the sweat and hours going door-to-door. Those efforts did not disappoint--prospecting got his first listing, then 1-2 listings per week for every 50-60 cold calls, and then a break into the high-end market.
Want similar results? Prospecting every day is your ticket to getting them. Nothing works better to get listings and referrals than making face-to-face connections, where you can show you’re trustworthy and amiable, and building rapport.
Now you know where to focus your efforts, let’s cover how you can free up the time to do so...
How much of your own administrative work do you handle? Bacal learned early on that being a one-man-show and controlling every part of the process wasn’t worth the time, disorganized paperwork, and the leads that slipped through the cracks. Once he began delegating tasks, his career really took off. That’s why you should get a virtual assistant with your first paycheck and start building a team!
Delegate paperwork and other logistics, ask friends and family to post open house signs (great for your visibility!), and have a colleague conduct the showing.
Managing follow up
Don’t let those hard-earned leads go to waste! Following up is crucial to land listings and build on your referrals. But for as important as it is, delegate these tasks to your team--a good volume of leads takes too much time and attention to manage single-handedly. Bacal learned through experience that working with a team ensures nothing gets forgotten or mixed-up, while freeing up your time to go prospect. It’s a win-win situation.
At the end of the day, it takes lots of hours of hard work to get to the top. But as one of the best in the business will tell you, most of that time should be spent getting some good exercise prospecting, while your team covers the rest.
Woodland Hills Real Estate Agency
Provides service in English, Spanish, Farsi, Hebrew, French, Arminian, Russian, and Arabic
Call at (818) 770-3660
Address: 22020 Clarendon St suite 200, Woodland Hills, CA 91367