Your 147 Wasted Hours Revealed

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Filed under: Productivity,Videosby Frank and Brian

19 Responses to Your 147 Wasted Hours Revealed

on February 28, 2012 at 7:00 am — MNReal-Tore says:

Because eight is “average” so some do far more and some do zero or one, don’t forget about the time busy agents spend trying to help agents along that can’t seem to grasp the complexities of our industry. Maybe Aunt Betty who’s trying her first HUD 86 page contract with first time buyer nephew Billy Bob. OH, the nightmare!
That is why the number of Realtors has been cut in half from the hay-days in MN. (not to mention 8 deals at $150k/avg is $1.2M in volume at 3% equals a smooth $40k…now pay for gas, phones, dues, computers, cont. ed., AND YOUR BROKER. McDonalds is looking pretty good!)

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on February 24, 2012 at 7:58 am — Yvette Horne says:

I think it’s pretty funny how you’re number of hours is itemized. I know I spend many more hours showing houses on one transaction, especially when the inventory isn’t all that great to select from and most buyers don’t want to purchase a handyman special. The ones that will require estimates from every professional required just to come up with an offering pricce. Just an FYI- many of us do not have assistants and we do our own farming, direct mail marketing, proofing ads for publications, website maintenance, MLS updating, blogging, not to mention the educational requirements we put in. That’s all on the backend. How about Open Houses, updating listings, taking listings, preparing and updating our presentations and researching new tools…I wish I had 147 hours of wasted time to kick back and read a book! I do appreciate your positive message and encouragement toward better time management. We could all do a little more to improve on that, I’m sure.

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on February 23, 2012 at 1:08 pm — Michael J. Maher says:

Just to show you some of your impact, I had over 50 mortgage professionals and real estate professionals e-mail me your Show because you flashed my book (7L) The Seven Levels of Communication on the screen for 5 seconds. =0) Thank you for spreading the word and please know you make a difference and your impact is growing.

Blessings,

Michael

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on February 23, 2012 at 10:31 am — Lake Lanier Realtor says:

Guys, I get your point – and I appreciate you both sharing what comes from your hearts – you are right. But… the 147 hours probably was working with these stupid banks on shirt sales, or working through “Best & Finals” or “Highest & Bests” on purchases that are meaningless terms in this day and age. Our industry used to deal on ethics, and now it is full of fraud and manipulation. Last year, for just one (1) investor we submitted 22 valid, market-value offers – got 4 purchased. Yes, some of that 147 hours now goes to another business in a different industry – what a shame.

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on February 23, 2012 at 9:26 am — hiranmarin says:

Great advice,however, I can tell you where the 147 hours were spent… On the folks that did not close. For every closing, there is another transaction that zapped just as much time & energy, but did not close. Ultimately its a numbers game, and you don’t know which client/transaction will actually make it all the way through closing & funding.

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on February 23, 2012 at 9:22 am — Divedude says:

Don’t forget the time not answering the phone and not calling back.

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on February 23, 2012 at 7:41 am — Gene Riemenschneider says:

Guys I normally like your show, but extract head from rears on this one. Closing escrows is the easiest part of my job. Sometimes I am putting in 8 to 10 offers to get someone into contract – then it does not always close. I spend a lot of time blogging and building web sites.
I’m not saying I cannot improve but your thoughts on how I spend my time is way off base.

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on February 23, 2012 at 7:35 am — David Luna says:

Frank and Brian are right. You have got to do what your competition either is unable or unwilling to do. Look at your time (which is what this video was all about) and do something more productive. Get up a half-hour earlier and read something that will set the tone for your day. Great tip today guys!

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on February 23, 2012 at 7:16 am — Lilly Hughes says:

I think this is the most wonderful advice. People need to read more anyway. You aren’t pushing any particular product (what a relief and attribute to sincerity). I find when I read a book about selling or marketing or whatever I am inspired. Thanks because now I don’t feel guilty because I’m doing something passive.

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on February 23, 2012 at 7:00 am — Panhandle Nan says:

8 transactions is bad but when did it increase to 8? For years the stats were 3? It explains why the 95% of the business is done by 5% of the agents, and I’m being generous here. Great show today.

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on February 23, 2012 at 6:55 am — Brooke Jacob says:

Amen. Great advice. We all need a daily dose of positive energy – and oftentimes the most potent form is in print! Thanks very much for your excellent show.

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on February 23, 2012 at 6:36 am — Tom says:

Great Piece…
I work in mortgage banking and spend hours each month working with borrowers that are credit challenged and unable to buy a home. I work with the borrowers/realtors in the form of credit counseling, how to improve credit scores etc., so they qualify. Then when they do qualify about 50% close with a “johnny come lately” competitor/or different realtor. I feel like I wasted the hours.

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on February 23, 2012 at 6:05 am — Michelle Flaherty Philbrook says:

I think many of those hours are attributed, unfortunately, to marketing for sellers whose homes didn’t sell, showing property to buyers who didn’t buy, or to deals that went pretty far but fell through after inspections. 1,000 hours per year = the price of tuition for the school of experience. I agree with the comment above though – in most parts of the country, 6 transactions will not pay the bills!

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- on February 23, 2012 at 6:07 am — Michelle Flaherty Philbrook says:
  
  8 transactions, that is
  
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on February 23, 2012 at 6:02 am — Nick says:

You forgot the Bar Time Motivation Hour….5 hrs X 4wks plus OT for strategic creative financing.

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on February 23, 2012 at 5:36 am — morningexpresso says:

How do agents live on 8 transactions a year? This is an expensive business to be in as far as output goes. My expenses for the year would cover at least 2 of those 8 transactions.

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on February 23, 2012 at 5:17 am — Dave Sullivan aka TheCreditGuy.TV says:

I agree… my first sales book was from Tom Hopkins it changed my life. I read 2 – 3 business books a year… thanks guy’s and when are you coming to Michigan? You should make a video and send it to the Michigan Mortgage Lenders Association

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on February 23, 2012 at 4:52 am — Helen says:

Well done. The hours, overall, were fairly accurate.

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on February 23, 2012 at 2:55 am — GMAC says:

One of your best shows in forever, guys! Nice piece!

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