Florida Realtor • November/December 2024 • 10 Smart Ideas

1. Boost production: “Identify the three core activities you must complete to increase your production. … Do them at the beginning of your day, preferably before noon before the chaos of the day takes over.”—Bernice Ross, CEO, RealEstateCoach.com

2. Focus on income-producing activities: “Busy work is work that needs to get done, but not necessarily by you. ‘Work’ is any activity that directly produces income. That means setting appointments.”—Glenn Stein, broker-owner and real estate coach with Realty Executives in The Villages

3. Think about a side hustle: “Looking for a side hustle? Consider pooling your money with other investors to fund a professionally managed real estate project.”—Michelle Clardie, business strategist, Key Real Estate Resources in Los Angeles

4. Disclosure is key: “When a seller discloses property information, they could face liability if they share only part of a story and leave out negative details.”—Joel Maxson, Associate General Counsel for Florida Realtors®

5. Earn referral fees: “Research real estate professionals in feeder markets—where buyers in your area come from—to develop a referral network.”— Diane Thorpe, an agent with Pinnacle Realty Advisors in Destin

6. File quarterly tax payments: “Real estate agents are self-employed and subject to filing quarterly estimated tax payments. Talk to an accountant who can help you estimate your tax bill and file on time.”—Jasen Edwards, a life and business coach, former chair of the Agent Editorial Board of AgentAdvice.com

7. Know the new policies: Be sure to comply with new National Association of Realtors® (NAR) policies that require MLS participants working with a buyer to enter into a written agreement with the buyer prior to touring a home. Source: nar.realtor/the-facts/nar-settlement-faqs

8. Timely inspections are crucial: Sometimes a special inspection is needed. “If a condition is discovered and brought to the seller’s attention after the deadline, the seller’s obligation to fix it may be waived.”—Richard Swank, Associate General Counsel for Florida Realtors®

9. Track and measure: Real estate agents should develop the habit of “tracking and measuring everything you do, which means collecting, analyzing and understanding data … because it allows you to make informed decisions based on proof.” —Tom Ferry, founder and CEO of Ferry International, tomferry.com

10. Stay in compliance: New NAR policies prohibit the use of MLS data or data feeds to directly or indirectly establish or maintain a platform of offers of compensation from multiple brokers or other buyer representatives. Source: nar.realtor/the-facts/nar-settlement-faqs