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Exactly When Realtors Should Review Their P&L

I was just facilitating a financial training for about 100 agents in New York and during the Q&A an agent asked me how long I spend reviewing my numbers. Here’s how I explained it to them:


On a weekly basis, I spend 15 minutes reviewing my bookkeeper’s questions, and that’s the equivalent of mowing a (small) lawn. If you don’t mow regularly, things start to get a bit messy. I’ve learned that it’s best to mow the lawn weekly.


On a monthly basis, I spend an hour reviewing my financial report, which is the equivalent of tidying up the house. This keeps the place clean and prevents things from building up.

Twice a year, I build a budget and chat with my CPA about any major changes to ensure a smooth (and proactive) tax filing season. This is the equivalent of a deep scrubbing of the place to keep everything in tip-top shape.


Importantly, only by keeping up with the weekly and monthly cleaning can I get the more difficult-to-reach places twice a year.


This is how I block my time to clean out the corners of my P&L that have been quietly accumulating dust.


This simple framework helps me feel fresh and ready to give more of myself to my life and my work, and I know it’ll do the same for you.


Happy spring cleaning!


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