Choice-driven success: How what you choose now impacts your future

Recently, I have been talking a lot about how better performing agents make better choices.

When you look at agents and agencies, you can see clearly the collection of choices that have been impactful – both in a good way and sometimes in a bad way.

For your business to grow, you have to make constant choices around the use of the hours you have available.

When I am working with a team, we put the lead agent down as working 50 hours and their support member at 40 hours (I can hear you screaming now that you work more than that).

However, for the purpose of this exercise, let’s just work with those numbers, so together they have 90 hours available to build a business.

Every unit has wastage, so the first choice you must make is to waste as little as possible of the available hours. 

The second choice you have is how you utilise those hours across all tasks that need to be done.

My advice to everyone is the moment you allocate hours to a task, if you don’t monitor it and if you don’t measure it, you will waste a lot of the hours.

So the next choice you have to make is how you monitor and measure the hours across the task. 

You see, choices that we make today constantly affect our businesses in the future.

I was with a business just recently who made the choice, off the back of some available facts, to go from a private treaty business to an auction business.

It was a challenging choice as the area was not viewed as an auction-oriented area.

They made the choice and they supported that choice with training, drive, energy, monitoring and measuring, and now, four years down the track, as a result of that choice and the support they gave that choice, the business controls days on market and clearance rates well above their competition.

They are now clear market leaders and are the only office in that particular area to conduct auctions on a large scale.

Great leaders get the facts, then act.

I have often said that the number one reason people fail in our industry is that they can’t handle the freedom.

This industry doesn’t require you to start at a certain time everyday and finish at a certain time, you have a choice about how you spend and use your hours each day.

One of the great aspects our industry provides is a wonderful financial injection into anyone’s life, and of all the agents I see doing well, they are all choosing not to have time freedom each day, but to use those hours.

They choose, for want of a better word, not to have time freedom today so they and their family can have freedom in the future; freedom to live where they want to live, freedom to have the car they want, and freedom to send their children to the schools they want.

Each choice you make will have an impact not only on your life, but also your future.

As we come to the end of a year and the start of a new year, the choices you make about setting up your business for 2024 will determine how much momentum you will start 2024 with.

If you are choosing not to act now then 2024 may not start off the way you had hoped. 

Everyday in our industry you are given the gift of freedom, and you are given the gift of choice.

Can I suggest you choose wisely?

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Mark McLeod

Mark McLeod is the Ray White Group's Chief Strategy Officer for Real Estate. He works alongside agents and businesses across Australia, helping them reach their ultimate potential to achieve success.