One of the hardest things in life is to just stop worrying about things we have no control over. I envy people who have that ability, but most of us don’t. We worry about all kinds of things that we have absolutely no say in and no possible way to even change it a little. With all of the information that is thrown at us daily through the internet, tv, radio, print, social media, etc., it’s no wonder that mental health issues are rampant today.
As a Real Estate Coach, I see a lot of stress and worry right now about the market, the interest rates, and the lack of inventory. All of these things fall into the category of “nothing we can do about it.” That doesn’t mean we should be discouraged, feel helpless, or give up. There ARE things that we CAN do to offset those feelings. Instead of worrying about the market, rates, and inventory, we need to ask ourselves what we can do to be successful despite those issues. What can you do today, tomorrow, this month, and this year to ensure that you will be successful, no matter what the market is like?
The first thing you can do is to dance with those who brought you. Those folks who have supported your business over the years. Your friends, family, and past clients believed in you during the good times, and believe it or not, they also believe in you now. You are their real estate expert, don’t ever let them down by stopping any type of communication with them. Keep posting on your socials, keep emailing, and keep mailing letters. Whatever you have always done to help them understand real estate, keep doing it, and never stop.
The second thing we can do is to try something new. I hear so many agents tell me that their marketing just isn’t working anymore. “There just isn’t enough inventory out there!” When I hear this, I ask them to look at their stats and tell me what percentage your market is down vs last year. The typical answer ranges from 25-40% down. My response is, “Ok, so what does that leave?”. To which I may get a response like, “Um, you’re supposed to be smart, Mr. Coach. If my market is down 40% that only leaves 60%, dumbass.” Ok, no one has ever called me a dumbass, well, not a client anyway. But I have received several looks via Zoom that said it in their eyes! I tell them that 60% is an answer, but it’s not what I’m looking for. The correct answer is MORE THAN ENOUGH! If 40% of your market’s sales are gone, there is still more than enough business left for you! Will it be easy? Nope, but that’s why you can do it! Most agents want easy, and they want to stay in their comfort zones. They don’t want to do things they’ve never done before and that just leaves the door wide open to those of us willing to try new things!
So ask yourself, “What can I do differently to get new business? What type of person needs to buy or sell a home, no matter what the market is like?” Having survived the biggest real estate crash in many lifetimes, the Great Recession, I have quite a list of answers to these questions that I share with my clients. We talk about each one and I ask them how they can go after that new business in their market. We work on a plan together and then they go get that new business. Is it easy? Nope, it takes time, persistence, consistency, and determination, all of the things that it takes to be successful in any market. Those that work the plan, stick with it, and worry about what they have control over, end up with MORE THAN ENOUGH business.
We can only change what we can change. Instead of feeling down, depressed, worried, or scared, focus on the things that you can change and not those that you can’t. Don’t let outside influences run your business or your life.