Real Estate

How to Keep Your Mojo Up in Down Markets as a Real Estate Agent

You can let negative news and market conditions affect your business and your outlook. Here’s how to keep yourself focused on the positive.

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What can you do as a solo agent to prepare for the unknown? Undoubtedly, we are seeing a shift. It all depends on how you define the beginning of that shift. There are elements of it already in play. 

This isn’t the first shift we’ve seen either. There was 2008’s Recession, of course, and jump further back — you have the 1991 crash. I was an agent at the time, operating in the Sacramento market when the market’s metaphorical roof came crashing down. In the immediate area, there were two Air Force bases and an Army depot.

Overnight, the base was occupied by tens of thousands civilian workers. Service members also left the area. In some suburbs, every home had a for-sale sign. A home would be sold knowing that 100 homes similar to it would soon hit the market.

In 2022, we are not headed for apocalyptic scenes like these, but that doesn’t take away from the stress, uncertainty and potential panic. 

What can agents do to stay above all this and keep their heads up, even when they pivot?

Stay away from the hype 

All the functions of life, including births, deaths and relocations, will continue to exist. No matter what your social media feed may tell you, shelter or housing will always be a fundamental human need. 

Negative news can quickly become the mantra. You can stop worrying about that. Take time and focus on yourself, what you can do, and what will help your practice, not the “what ifs.” 

The positive

It’s easy to get into a space where you want to quit because of all the noise around you. Focus on the positives.

Sellers will be seeking out experienced agents as the market becomes tighter. As a result, more buyers and sellers are going to depend on you, the agent, for your assistance. Keep your head up and be positive.

Positivity serves as a reminder to all clients to be positive. Highlight your value proposition, and show trustworthiness in a market fraught with uncertainty.

Systems, processes and efficiency

The agents who have spent time enhancing and improving their business’s running will transition through this period nicely and, in many cases, may pick up more business. Agents without a functioning business will begin to feel pain.

Take care of your mental well-being

You will feel more pressure to manage your finances and your business.

I know firsthand the challenges of mental illness. I’ve had to go through it myself and have come out the other end stronger and happier. Physical exercise is a great way to prevent mental health problems. Get active.

You should also turn off any media content that encourages sensationalism. This could be your news on television or social media.

Avoid negative work environments 

It could be you, your office, or the people with whom you surround yourself professionally.

Concentrate on the long-term goals and not what is happening in the next six months.

Your office can be a haven for inspiration, positivity, productivity and creativity. Over the next period, agents will require you to be a leader.

Conclusion

It’s important to remember that this all looks different for everyone, but the core goal is the same: if you take care of yourself, then you take care of your business. It doesn’t matter how much the world changes or shifts, you must continue to invest in and nurture your systems professionally and personally. 

James Becker is a veteran in the areas of real estate, mortgages, and business development. He has been doing this for over 25 year. He is currently the CEO and founder of Fusion Growth Partners. Connect with him via Facebook and Linkedin.

The original article can be found at www.inman.com

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