A Day in the Life of a Successful Real Estate Agent

See what I did there? Tied in The Beatles song, A Day in the Life with the post title and theme. Clever, huh?

Clever, maybe, but it fits. You know you've felt that way as a real estate agent. You wake up and run run run. The next thing you know, the sun is setting, you've blown off the laundry, the kids, the spouse and everything else non-work related. Then you wake up tomorrow and do it all over again.

What does a successful agent do on a daily basis?

First, I should mention that there is no 'typical day' in the world of real estate. For many, that's a large part of the appeal of the job. If you like variety, and have a disdain for the routine, then real estate might be for you.

There are, however, some typical activities that a successful real estate agent does on a regular, if not daily, basis.

Prospecting/lead generation. This is a lead generation business. If you don't have prospects, you don't have clients. No clients equals no income equals no food on the table. 'List to live' is a common mantra in this business, but you can't take listings without generating clients. There are countless ways to prospect: working your sphere of influence (SOI), door knocking, 'geo-farming' via postal mail, using the Internet, purchasing leads, social media, and networking. You get the point — there are many ways to skin the lead generation cat. Most successful real estate agents prospect daily.

Paperwork. Ugh, no one really likes it, but the undeniable truth is that real estate transactions generate a lot of paperwork. Sure, you might be 'paperless' in your operations, but there are still forms to complete and paper to process, whether physical or electronic.

Keeping up with the market. If you managed a retail store, you would spend a lot of time counting and understanding your inventory. Ditto for a restaurant; you have to know what ingredients are on hand in the kitchen. Real estate is no different, but your inventory happens to be homes for sale. You need to understand what homes are available for sale, how fast (or slow) they are selling, local market trends, and more. Many a successful real estate agent begins their day by perusing the MLS and other sites to look at new and sold inventory.

Keeping up with the neighborhoods.Take a poll of successful real estate agents and ask them what sets them apart from other agents and many will tell you, 'I am the neighborhood expert.' One does not become said expert via osmosis. You have to study the neighborhoods you want expertise in. That's not just understanding the housing inventory, it's also knowing the local businesses, schools and even the 'feel' of the community. It's driving around at different times of the day and noticing traffic patterns. It's knowing when a new business is opening, and when another is closing. It takes time, and effort, to be a true neighborhood expert.

Continuing education. I'm not just referring to the continuing education (CE) required to maintain your license. Of course that's important, as losing your license would be highly detrimental to being a successful real estate agent. However, education is a constant thing in real estate. Besides keeping up with the market and neighborhoods, you also need to stay informed about things like current mortgage rates, changes in real estate laws and practices, and technology and tools to help you succeed. The education required to be a successful real estate agent never really stops.

But wait, there's more

Oh yes, let us not forget your existing clients. Transactions in escrow must be closely monitored. Timelines and deadlines have to be met. Calendars updated. Clients updated. There are homes to show buyer clients, inspections to schedule and attend, and lenders, title people and attorneys to bug to make sure they are on track. It's like conducting an orchestra. You have to wave the baton and make sure everyone is playing the right tune in the right key.

How does a successful real estate agent do all this, and more? Through organizational skills, to-do lists, technology tools, and the help of assistants. It's not an easy job, never has been. But you, oh successful real estate agent, will have your processes and procedures in order and your tasks identified. And you will execute with flawless precision, keeping your current clients happy, and your prospective clients lined up for your services.