You Can't Control The Fed, You Can't Control Inventory, You Can't Control...Sep 07, 2023
I could go on and on about what you can and cannot control, but why? That would just cause us to dwell on the things that we have absolutely no control over. As real estate agents, we are independent contractors and don’t have bosses telling us what to focus on. We are our own bosses; we create our own business and our own destiny.
Yes, this market is unique, different, and weird. So, we can either blame the market, say poor me, I am a victim of the Fed and the lack of inventory, or we can go to work. We can stop feeling sorry for ourselves and just work at getting business.
I’m sorry if this seems harsh, but the last few years have spoiled a lot of us in this industry. The phone rang and we got paid. Welcome to life, good times never last, and those who survive take market changes in stride. They don’t dwell on the negative, they just go to work.
Recently, I was a panelist on a broadcast of top producers in my area and we all discussed the market, our business, and how we are still producing in these market conditions. Not surprisingly, we all said pretty much the same thing, “You need to just get back to work, there’s more than enough business out there, you just need to go get it.” Here are some of the suggestions for agents who need some direction as to where to start:
- Work your database! If you don’t have a database, you better establish one fast.
- By “work”, I don’t mean to be disingenuous, in fact, just the opposite. Make calls to discuss this “weird” market and let them know that you will be there for them when they have questions.
- Use this time to find new markets! Remember when we were too busy to expand our marketing to new areas or markets? Now is the time to expand your business!
- Expand your knowledge! This ties in with finding new markets. Get educated on a new aspect of the real estate business. Maybe probate, maybe relo’s, whatever it is, get educated now.
- Seek Help! Almost every single panelist either still had a coach or has had one in the past. Coaches not only provide accountability, but they are also a source of ideas, motivation, and reassurance. But be sure your coach has experience in market shifts, and that they have actually sold real estate. Preferably they still sell real estate!
One of the panelists had just recovered from breast cancer and was still one of the top producers in our area. She said that she had a choice, to either feel sorry for herself, or to keep moving. She chose to keep moving. Of course, she had really bad days, weeks, and even months. But she kept going. So, when you are feeling down, victimized by the Fed, or just ready to throw in the towel. Think about her and be grateful for what you currently have. Remember, you will never have abundance until you are grateful for what you currently have.
Now get out there and get back to work!
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