real estate coaching tough times
October 25, 2023

Staying the Course During Challenging Times

It’s easy to get distracted when faced with so much uncertainty and change, but it’s more important than ever to stay focused as we head into the last quarter to finish the year strong. 

Recent controversies and lawsuits in the real estate industry may have you feeling anxious about what all of it means for your business. With so many potential changes and not enough certainty, it’s no wonder that agents everywhere are soaking up everything they can to learn about what’s going on. Here’s the good part, though: as an agent, you have the power to control your response to all of this.  

While the waters of the real estate industry have been a little choppy the last while, the state of the sea doesn’t prove we’re about to go down with the ship; it just means that we need to keep a firm hand on the wheel and our eyes on the horizon.  

Related reading: Eight SELF Management Strategies for Life and Business 

Tips for Staying Productive Amidst Uncertainty 

While we wait for updates and news on the lawsuits that are still ongoing, it’s important to keep on task and prepare for changes that may come. After all, business doesn’t stop, regardless of what else is going on. Buyers and sellers need you focused and ready. 

Here are some ways you can be productive and positive, even when it feels like things are rough:

  • Get trustworthy information. Get the facts straight from industry leaders and experts, not social media rumors. Ask your broker questions to understand their stance and strategies and to anticipate what will be coming down the pipe once the lawsuits are over. Knowledge reduces fear, which lets you continue to serve your clients. 
  • Control your reaction. Change brings uncertainty, but your mindset really does matter. Avoid catastrophizing or imagining worst-case scenarios. That only builds fear on things that may never happen. Keep an optimistic mindset and focus on what you can control. 
  • Focus on fundamentals. Despite legal shakeups, real estate essentials like finding listings, marketing properties, and coaching clients remain on your to-do list. Stick close to your proven business practices until you have a strong plan for making changes. 
  • Be adaptable. Markets evolve, and rules change. Position yourself to be flexible and adapt to industry transformations. Stay open to new methods and tools that could help you serve customers better, creating a plan to implement the ones that will be the most beneficial to you. 
  • Communicate calmly. Clients will take cues from you. If you are anxious, your clients will be anxious! Discuss impending changes rationally and outline what it means for clients as well as the plans you are making to adjust, and they’ll likely feel reassured because they know you have it handled.  
  • Promote home ownership. Buying a home remains one of the best investments. Counteract bad press by highlighting why real estate is still an attractive option for buyers, no matter what the industry is doing. 
  • Network and learn. Industry groups, seminars, and experienced agents can provide perspective. Hearing how others handle uncertainty will inspire you. Having a real estate coach can be remarkably beneficial in getting training and building skills. 
  • Look at the big picture. Ups and downs are part of any career. Focus on delivering value, building skills, and cultivating relationships that sustain you for the long haul, rather than focusing on the short-term issues. 
  • Practice self-care. In difficult times, prioritize rest, healthy eating, and activities that recharge you. Burnout compromises your ability to thrive and be an effective agent for your clients. 
  • Trust leadership. Let leadership address any big-picture concerns that come up, so don’t be afraid to ask for help. Your broker and industry leaders have your best interests at heart. They are busy making sense of what’s going on in the industry through its ups and downs, and they will boil it down to what it means for you and how the recent news will impact you. Stay in close contact with them for guidance and resources.  

Related reading: Propcoach – The Most Common Distractions In Real Estate That Holds You From Doing More Business

Real estate is one of the few industries that constantly changes. It has weathered past storms and emerged stronger, and will continue to do so with strong leaders and agents at the helm. Have faith in your abilities, lean on your support network, and focus on what you can control. With calm and resilience, you’ll navigate through the current challenges.  

Related reading: NAR Antitrust Lawsuit Strategy: New Commission Script for Sellers   

Calling all Real Estate Agents! Want to stay up to date on the latest news regarding the antitrust lawsuits? Check out our Lawsuit Information Hub to stay updated on the news and our training sessions to master the changes coming your way.

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