In real estate appraisal terms, the “highest and best use” of a property is how that property would be used most efficiently or profitably. In the same way, the highest and best use of your time as a real estate professional means making the most of those events that lead most directly to income-generating activities- sales, referrals and repeat business.
In other words. Spend more time with better prospects, using better presentations and proposals.
Real estate’s top performers and coaches will tell you the highest and best use of your time is in personal meetings, proposals and presentations. That’s why it’s vital to have a system to make the most of every marketing proposal, open house, and buyer showing. A system that enables you to convert more prospects to clients may be the best marketing investment you can make.
If you think you don’t have time to provide detailed neighborhood knowledge, consider the benefits. If you’re trying to sell a fixer-upper in a desirable area, it’s important to let buyers know about potential appreciation. When working with buyers, it’s a good idea to “sell the neighborhood” along with individual homes. This provides an opportunity to maintain buyer interest and loyalty even if a particular property is not available or doesn’t work out.