Time is money: What's it worth to you?

Episode 23: In this episode of The Wheel Estate Cam, real estate broker Frank LLosa recommends that you put a price on your time -- so you don't waste it. He questions whether it's really worth an hour or even 30 minutes of your time to save $5 on a product, for example.

"So many times (agents) will be frugal with their money but not frugal with their time," he says.

"What is my time worth? Twenty-five dollars an hour? One hundred dollars an hour? I will give you X dollars to drive (somewhere) ... at what price point would you say it's not worth my time?"

He says it may save lots of time to mail a real estate document with overnight delivery, as an example, even if it costs more money. Being more efficient with your time can provide you with more time to relax, "instead of running around ragged," which isn't good for the real estate professional or the customer, he says.

Comment below to share your thoughts.

Watch past episodes of the Wheel Estate Cam.

Frank Borges LLosa is the broker, founder and owner of FranklyRealty.com, a real estate brokerage in Falls Church, Va. He is the creator of the Trust Me I'm a Realtor blog and multiple listing service wiki site FranklyMLS.com. You can follow him on Twitter: @franklyrealty.

***

What's your opinion? Leave your comments below or send a letter to the editor.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.