Do you find yourself trying to control everything? Many luxury agents are so concerned about getting everything right for their high end clients they are completely convinced that no one could do as good of a job as they can? If you're feeling that no one can do things as well as you can, you have probably fallen victim to the "I'm-the-only-one-who-can-do-it" syndrome. To rid yourself of this stress-provoking, self-defeating behavior, consider the "cost" of doing it all yourself.
We had dinner with a friend who openly admits she is a complete and total control freak. Even though she is extremely successful and has severe allergies, she insists on cleaning her own house. When we tried to persuade her that hiring a housekeeper would be a better use of her time as well as in the best interest of her health, our arguments fell on deaf ears. No one could clean her house to her satisfaction.
We then asked her to consider the "cost" of cleaning her own house. The four hours she spent cleaning the house multiplied by what she earns per hour selling luxury real estate ($150 per hour billing) means the true cost of cleaning her house herself was $600. This really got her attention! Not only was she paying a huge price in term of her health and well-being, she was "wasting" money as well!
Having a sense of balance and control in your life is important. Going overboard and having to do EVERYTHING can be both costly and potentially unhealthy.
If you feel that you need to delegate some of your work to take your business to the next level, there are a number of great options. The first and most important is to let go of the menial tasks such as running errands, filling brochure boxes, installing lockboxes, and other activities that can be handled by a minimum wage person.
You can also consider hiring a virtual assistant. You only pay for the time you use each month and since they are 1099 independent contractors, they are trained, have their own equipment, and are quite capable of working independently. Best of all, they generally work from home so you don't have to pay for office space.
If you're still feeling challenged, another option is to refer business to other agents that doesn't fall specifically into the niche(s) that you serve.
Finally, if you need one-on-one help, hiring a well qualified real estate coach is a great way to go.
Posted by Bernice Ross, Join us this week on RealEstateCoachRadio.com to hear some really great positive news about what's happening in the real estate market from Steve Cook, the Managing Editor of Real Estate Economic Watch. Believe it or not, even with all the awful news about the stock market and the U.S. credit downgrade, there is truly good news on the real estate front in many places.