|How valuable is your time?|
During these last few days of December, many people make plans to do something different, take on a new challenge, or commit to a cause in the New Year – aka making a New Year’s resolution.
The options for deciding on a resolution seemingly are endless; but here’s one that can provide long-lasting benefits: Commit to saving time, a high-value commodity that can’t really be purchased.
There’s a parallel to a standard concept in the commercial real estate profession – the time value of money concept. In short, the concept that a sum of money is worth more now than the same sum will be at a future date due to its earnings potential.
Scores of books have been written on how to save time and remain more productive while on the job. To those in the fast paced, always competitive, and certainly challenging commercial real estate profession, maximizing time can be a critical factor that can lead to consummating a sales transaction or lease.Here are five time-saving practices to keep at the forefront:
Embrace technology strategically
Let’s face it: Devices, programs, and platforms have over the past few decades altered our day-to-day lives and business practices dramatically. But be prudent when adding new technology to help improve business practices. Make decisions to employ technology that maximizes time more effectively by reducing repetitive tasks or contributing to accuracy. Avoid technology that is complex and time consuming. Technology should make you more efficient, not less.
Prioritize the daily agenda
Utilize the workspace effectively
Yes, that messy desk and inbox loaded with dated email messages can result in time delays when trying to access files and data to advance an offering memorandum or distribute a property flier. Invest a little time each week to organize information for prompt accessibility, retrieval, and dissemination.
Plan periodic time-outs
Research has shown that regular short breaks each day while on the job can result in greater work productivity. As noted in this report from the American Psychological Association, work breaks provide the fuel needed to stay focused, overcome stress, and stay productive.
Conclude with a plan for tomorrow
Before ending the workday, make note of upcoming meetings, project deadlines, and required correspondence with clients and prospects. Spending five minutes before “calling it a day” can save time when back in the office the following day.
As noted above, investing in the right technology can prove invaluable in providing CRE professionals with more time that can be used productively.
Since its inception, TheAnalyst® PRO has provided commercial real estate professionals – from brokers, to leasing agents, to institutional investors – across all asset classes a comprehensive and intuitive online platform that quickly, accurately, and effectively performs property analysis calculations and delivers a broad range of marketing products.
Using TheAnalyst® PRO, within minutes, a broker can create four types of analytical reports that are cloud based and accessible across multiple devices. Here’s an example: A Discounted Cash Flow analysis for 5 and 10 years before or after tax can be created with only 8 required input fields.
Plus, subscribers can prepare marketing support tools like property flyers, brochures, flip books, and intriguing infographics that are branded with the company logo and relevant contact information. A flyer built upon a compelling design template with impactful graphics and relevant data can be created in a few minutes. Data and graphics are stored for prompt retrieval, making revisions to an existing marketing document easy.
One more thing: TheAnalyst® PRO offers subscribers online training and a support center that provides guidance on maximizing use of the analytical and marketing features. Experienced support team members are prompt to provide needed assistance.
As we close out 2021, make the commitment to get the greatest value from that precious commodity – time. Following these suggestions and incorporating TheAnalyst® PRO in the year ahead are two positive steps to take.
Have questions about TheAnalyst® PRO? Please contact us.
Wishing all a Happy New Year, and here’s to a very prosperous 2022 for all who work in the exciting commercial real estate profession.