The hardest real estate skill to learn that pays off eventually
The hardest real estate skill to learn, and it actually does pay off over a period of time that Shana Acquisto and we’re going to talk about delegation, we’re going to talk about how much your time is worth on an hourly basis. We’re going to see who could help you. And we’re going to try to make it fun.
Ok. Those are all the things we to talk about going to make it just a second. Yeah, we’re going to see what can what can happen here. All right. So let’s talk about delegation. It’s a super hard skill to learn.
Oh my gosh, I’m trying to learn.
Yeah, I have no clue. Yeah. So I’m still you do a great job at it. I’m still trying to take the mick out of micromanagement.
And yes, you’re good at delegating, but maybe not to the full extent. Right?
Well, it depends. There’s things that are, you know, all different purposes and different intensities and different like skill sets are needed and different priorities. Yeah, so it is
If you can somehow delegate. We’re all super protective of our of our business and what we’re doing, and we can do it better than everybody else, right? So if we can learn that skill of delegation to just kind of trust and pass off a couple of things, I, you know, we talk about, how do you get more time in your day? And I think that’s the answer.
Yeah. So let’s kind of look at when you would delegate. Ok, OK. So when you would delegate is you have to look at how much you currently make. So, you know, if you’re from the most simple term is take home what you made last year, OK? Ok. And then take that and divide it, divide it by, divide it in half and then move the decimal point. And that would be how much you make on an hourly basis.
So, for example, if you made one hundred thousand dollars, then you would have earned if you work to standard work week about fifty dollars on an hourly basis. Ok. Ok. So one hundred thousand equals fifty bucks an hour. So anything that in theory is less than fifty dollars an hour in value creation or that you could acquire somebody to do it for less than fifty dollars.
So from like a pure economic standpoint, yeah. If if somebody could do something for forty nine dollars an hour for you with equal opportunity, then you would gain one dollar per hour. In theory, now it gets more extreme and makes way more sense when the is less sure. But from that simple economic standpoint, that’s what you do.
Yeah. Now you know that there are certain things in our business that we have to be licensed to do, but there’s a lot of things that you know, we could have somebody do that aren’t that requirement that they’re not client facing and engaging the clients? Right?
Yeah, no. There’s just like and sometimes it can be as simple as utilizing your family, OK and finding those items. Maybe it’s something simple, like finding a house cleaner to help you out with tasks like that. Right. And in doing that, then you’re not doing certain things that free up your time. Talking to me, I have a Swiffer that I’ve taken to Wendy today.
So I’m going to me. Those are those reach things. And then from the other standpoint, it might be, you know, like, do you mow your lawn right now? Do you do that for your own personal time or whatever? And. And that’s why. Yeah, but you would look at items like that. Maybe the and it might actually hurt your time production, but do you have like your kids do the laundry or your kids do the dishes or some types of things around the house that save you time and then give you more time to do other things right?
So there’s a whole host of things like that that would come in, and your spouse would probably be a great person to help kind of balance these out like, Hey, I’m busier, could you? And then you find those types of items. Maybe it’s things that you don’t like to do as well.
So it would make your career better if you didn’t have to do this, pick whatever thing you don’t really like and try to delegate that. Maybe then you’ll have a higher satisfaction, which in turn has a value as well.
It’s totally true. And then we had a a wise friend of ours who who’s very successful. I asked one time, How do you not be a control freak? I guess per say. And how do you how do you delegate and not worry? You know that they’re going to do the job properly? And the response was, Well, do you make mistakes, Shana?
Yes, I do. Ok, everyone’s going to make mistakes. If you trust the person, let them do the job and then you can probably fix it later. They might make a mistake. It can always be fixed.
And it’s basically, do they try?
Did they try or they trust where they are, they care. Are they truly caring about you and and that task? And if you can answer those questions, then don’t worry about the small stuff of, yeah, there’s going to be a mistake and then you just overcome it right now. If the mistake continues to happen, the same mistake, then that, you know, warrants a conversation that you need to have.
But you know, it is hard to trust. It is hard to trust that someone. But you know, something that I’ve learned is when I trust someone to do something that you know, for me, a lot of times they end up doing it better than me. So that’s OK. That’s great. Actually works out better. And it comes down to your skill set a little bit. Sometimes you don’t have all these skills. One of the things that I do enjoy, right?
So maybe that’s why I get involved. Micromanaging a little bit more is because I enjoy learning new skills. Mm hmm. Right. So that I can help lead better to give better direction and to also understand it in the future to not be so reliant upon that person. You know, if if their world change is right.
So I always like to kind of backfilling kind of self learn. So I tend to get way over involved in the beginning, which causes me a problem, right? Because then I’m too involved. Yeah.
And but but you’re also, I mean, you’re really good at your. You’ve got a lot of new stuff coming up or going on like technology, right? And you dive in and study it and learn it. So, you know, you can have those conversations with them, right? And you you have a clue about what’s going on.
That’s the idea for us. We’re, you know, in our profession, whatever we’re having somebody do, we know about it. We know what we’re asking of them. It’s not like something new. Right? So, you know, and people are going to make mistakes.
So delegation super hard skill to actually learn. But it does pay off. It does. And I would say, as we’ve learned in our career, the more we delegate and allow people to do things, it’s super hard in the beginning. But then once you start to do it, it does start to pay off, and it’s also helping that person gain some more skills and knowledge about a particular.
Your income goes up if you when you do it right and you know it increases, maybe some stress on you. Yeah, but overall it should. It should really help over a period of time. So I would challenge everybody to find one item that you can delegate to your spouse.
I delegate everything to my one item that you can delegate to your to your kids. Mm hmm. Right. And find one low level task that you could outsource or compensate somebody else to do. Not that works with us, but just somebody totally external that would free up your time to do something else, right?
It might be something you like or don’t like, but if you do those three things, then you’ll have more time to focus on the top revenue producing items. And you can kind of start taking. You said pick one thing, but you can. You’ll learn that you can pick multiple things for that one person.
Yeah, right over time. And you know, it really was eye opening for me when you said break it down on a per hour basis and then you realize, like you said, how much is that really worth? And my time to go out and get new business and be doing other things? I mean, it’s definitely worth it.
So one of the things that we delegated actually is most of our grocery shopping, and it’s really weird. But we joined Instacart and it’s worked out well for us. We’ve been on it for a long time. And the other day, to go to Sam’s in person to pick up something, and I would say that I used to go to Sam’s once a week.
No, we would go, yeah, once or twice a week, for sure.
And then what we did is you join. We joined the service and then they deliver this stuff to us. You know, there’s a marginal cost to what it is, but then you look at your time and say, Whoa, that’s crazy.
And it tells you Instacart is good at telling you how many hours that you’ve actually saved. I would say I went to the grocery store literally every day. Oh, I need one thing or two things, you know, and then you get there. And before you know it, you see all your friends, you see people, you know, and it’s an hour or so out of your day, which, you know, don’t get me wrong, I love going to the grocery store when I’m making, you know, particular specific things. I like to go to the grocery store.
What do you do? I went to Sam’s and was going in there to pick up some TVs, so I had to physically go in person and do that. And it was the first time I’d been there in so long. I have no idea how long it had been. But like everything I had was expired, like my logins to everything because I don’t even have my card anymore.
I don’t know where I was on, like one of the first people to use the scanning go app. Yeah, and I haven’t used it since.
Some time right now is a huge time. It was crazy, so that’s kind of like delegation of a simple task. Yeah, but it works out, OK?