Understanding, Applying And Mastering The Four (4) ‘Kinds’ Of ‘Real Estate’ Time

Time Management is a skill ALL real estate agents need to master!  

Understanding, and properly applying, the Four (4) Kinds of 'Real Estate' Time is vital to achieving Time Management Mastery!  Colorizing each kind of time in your Weekly Planner helps with ‘visual recall’, accelerates the journey toward mastery and assists with balanced application. Remember: ‘Time is an irreplaceable resource! Time lost or wasted today is lost for eternity’!

1. Money Time (Green Time): Why color it ‘Green’? Because that’s the color of money! That’s why we refer to these type of activities as ‘Money Time’! Show me the money! At least 40% of your ‘daily activities’ should be ‘Green Time’ activities…the actives that make you money! Examples: prioritized/proactive prospecting (working your Farm Areas, working your ‘referral contacts’; listing presentations (to ‘qualified’ sellers); showing property (to ‘qualified’ buyers); presenting (‘qualified’) offers & counter-offers; hosting Open Houses etc.  Any time you go to work and there isn’t any ‘Green Time’ in your day, you are, in essence, going to work that day without the real likelihood of getting paid! Would you go to work at Walmart without the likelihood of getting paid? If you answer is NO…then don’t do it in real estate!
2. Support Time (Blue Time): Any activity that ‘supports’ your ability to make money should be colored ‘Blue’! Caution: if your days are so filled with ‘Blue Time’ activities that there’ little or no time remaining for ‘Green Time’ activities …rework your day! Move some of the ‘Support Time’ activities to earlier in the morning or later in the afternoon! But, don’t just ignore them…they ‘help’ you make a living! Examples: writing an ad for your new listing; submitting you new listing to the MLS; opening your new listing for the property inspector, putting up a lawn sign etc.
3. Real Estate-Related Time (Yellow Time): Yellow on a traffic-light denotes ‘Caution’! Same thing here!  These types of activities have ‘relevance’ to real estate but don’t make you money AND don’t support the money you’ve already made!  Examples:  The ‘monthly luncheon’ at your local Association Of Realtors; the ‘annual Holiday Party’ at your MLS; helping your best-buddy put a lawn sign on THEIR new listing etc. It’s easy, however, to turn some ‘Yellow Time’ activities into ‘Green Time’ activities! Example: If you’re going to the ‘monthly luncheon’… pass-around a promotional-flyer about your new listing.
4. Non- 'Real Estate'-Related Time (Red Time): these are all activities in your ‘Real World’ that have nothing to do with your real estate business! Typically, however, these are activities the that matter most to you! They reflect your ‘values’/priorities! Yes, we color them ‘Red’ in your Weekly Planner BUT that does NOT signify STOP don't do them! Examples: your wedding!; your daughter’s basketball game; working-out; your grandson’s birthday etc.

Time Management ‘Axiom’: Don’t trade down! Never trade-in Green Time for more Blue Time! Never trade Green or Blue Time for more Yellow Time! Never trade Red Time, however, for more Green Time, Blue Time or Yellow Time...when you do, you start losing CONTROL of your life!

Remember: ‘We don’t ‘live’ just to work…we work so we can ‘live’ better!’

Recommended Reading: The 10 Natural Laws Of Successful Time And Life Management…Hyrum Smith