What is the Work Schedule of a Real Estate Agent?
The work schedule of a real estate agent is (or should be) that similar to that of an Entrepreneur. The short answer is 6 – 7 days a week initially. 10+ hours a day.
Real Estate Agent Work Schedule Is That Of An Entrepreneur
Per the dictionary, an Entrepreneur is an individual who organizes and operates a business or businesses, taking on greater than normal financial risks to do so.
This is the role that you assume going into business for yourself as a real estate agent. Further, true Entrepreneurship is building something that eventually makes money without you present.
How Many Hours a Week Does a Real Estate Agent Work?
91 Hours A Week. That is 13 hours a day, 7 days a week. What? Does it seems like a lot to you? Thomas Edison reportedly slept 3-4 hours a night stating sleep was a “waste of time.” 1,093 Inventions later, he has gone down in history as one of the greatest inventors and businessmen who has ever lived.
I’ve got to give it to that guy. Time is finite and we are limited with it on this tiny planet. Let’s take full advantage of it. Get your real estate work schedule right from the start and you will have a lot more free time in the future.
PS – The Edison / Ford Winter Estates is located just North of me in Fort Myers, Florida. An amazing place to tour his house (And Henry Ford’s) as well as Edison’s many inventions.
With that said, you should have every intention on working at least 6 days a week if not 7 in the beginning as a real estate agent. New real estate agents should be up no later than 7am with intention on your last appointments ending around 7pm. The Realtor who works longer smarter hours will win. That’s a 72 hour work week.
Do Real Estate Agents Have A Work Schedule on the Weekends?
This is an actual question that many people type into Google. So what do you think? I think I explained it above but we will also go into detail on a sample schedule…
So, what is the typical Work Schedule of a Real Estate Agent?
The Sample schedule below shows you some area of discipline needed to be a successful real estate agent:
I would say the three most important parts of your real estate schedule are:
- Your Morning. Be sure to read Miracle Morning by Hal Elrod. I can tell you once I followed this system, my morning routine completely changed the remaining part of my days. I am able to think more clear. Less stressed. More productive and motivated. Your real estate agent morning schedule is the most important part of your day.
- Prospecting. Whether you are calling / meeting your Center of Influence, Past Clients, FSBO’s, Etc. Prospecting new business as part of your real estate agent schedule will increase sales immediately.
- Lead Follow Up. 2% of sales are made on the first contact. 3% of sales are made on the second contact. 5% of sales are made on the third contact. 10% of sales are made on the fourth contact. 80% of sales are made on the fifth – twelve contact. **Source: National Sales Executive Association. Make sure lead follow up is part of your daily schedule.
This is just a sample of what you would need to fill in your time slots for your real estate schedule. However, I would never allow anything to deter your real estate schedule from the top three mentioned above.
How can I create a full time schedule in real estate?
- Get your real estate license.
- Find a brokerage where you can sign up as a referral agent (Many times this will reduce certain costs like board membership, etc)
- Find an agent who will be willing to split every deal you bring to them at 50/50 all while training you on every step of the way. ** Don’t worry about the short term on giving up some commission. It will be worth it if you have a strong veteran agent in your corner. This could also lead to bigger things.
- Find out what it costs you to live. This will include all the costs that you have to cover for your family. Click the FREE attached spreadsheet and use as a guide when figuring this out. Income-Expenses-Personal.pdf
- If that number is $1,500 then write really large $7,500 GOAL and put on your refrigerator with some kind of motivational picture on it. This is 5 months operating expenses for you. Once you hit this number you quit your job, burn the boats at Tony Robbins says and you go full time!
- Hustle your Center Of Influence every morning 60 minutes before work and on the weekends. This is calling them, hand writing note cards, meeting them for lunch, dinner or on weekends, setting up and sending email campaigns, building your social media. Explain: “I am now a licensed real estate agent. I have a partner as well and hope you can help me out and drive some business my way.”
- You have to drum up business right now with people you know in order to jump-start your career in real estate. Do it right away once licensed.
- Create a full time real estate agent schedule that you can end up with.
**If you already have the $7,500 funds in savings (Calculate your 5 months reserve), talk with your significant other and consider going full time right away and revert to every article I have written on this site. Print out all the FREE information and read as many books as you can!
If you have the funds, then why wait? Waiting will only delay you and your momentum. You can do this.
The Beginning Should Not Be The End
The newly licensed real estate agent has to understand that this business is like a child that needs to be well taken care of, nourished and developed. Just like your real estate schedule.
When we hire a new or veteran agent on board, the first few meetings are strictly based on their foundation and real estate schedule. Without a strong foundation, the structure crumbles down.
In my initial business planning session, I break down the Foundation into 3 parts:
#1 – Your Financial Picture
So what kind of debt do you have? How can you reduce your personal overhead quickly? Remember. High personal overhead is the death of many businesses. We want to keep it as low as possible in order to keep pumping money into its growth.
#2 – It’s A Business. Not A Hobby!
I would estimate 90% of real estate agents don’t even incorporate and they get paid commissions on their Social Security Number. Further commission dollars are going directly into their personal checking account which goes to pay their grocery bills, etc. See something wrong with this? If you bought a Subway for example, would you put the cash into your personal bank account each day? You wouldn’t.
Incorporate if your state allows for it. In Florida it has to include your full legal name. Then set up a company bank accounts. Accounts to include an Operating Account, Marketing Account and Taxes Account. Pay yourself a consistent small salary each month (IE – The $1,500 mentioned above) out of your operating account along with any admin costs. Use the Marketing account for the obvious marketing expenses. And use the Tax Account for the obvious taxman (suggest 35%). ** Speak with your accountant (I am not one) and think about setting up a tax payment plan to the IRS every quarter. Prepay your taxes as it will be less of a hit at the end of the year.
#3 – What’s holding your real estate schedule back
What’s holding you back from sticking to your schedule? I always try to find out if there are any distractions going on personally. Rather, what will hold you back from giving this your full, undivided attention? Do you have issues with your significant other? Issues with other family members? Money Issues? Medical issues? What if any… And then ask yourself, what is the best way to address these?
Let’s face it. We all have some kind of bullshit. What is yours? We all have the power to change things in our lives. It’s just how bad do we want to change them.
Get your real estate schedule tight and be incredibly disciplined with it.