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Time is money: Do the math

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

If you would like to increase your income, one of the best ways to do it is to ask, "Who's closest to the money?" and "What's closest to the money?" I earlier discussed how to determine "Who's closest to the money?" An equally important question is to ask, "What is closest to the money?" In other words, which real estate activities will be the most dollar-productive for your business? Prioritizing whom you work with is important. Equally important is determining which types of activities will yield the best return for your efforts. There are two key pieces to this puzzle. 1. What are your most dollar-productive activities? There's only one way to really know which parts of your business are the most dollar-productive and which ones are not. The simple answer is to track each one of your transactions and to treat it as a profit center. To do this, track how much time and how much you spend to close each transaction. For example, tra...