HOW BADLY IS THE MARKET MESSING WITH YOUR MIND?
Let's have the conversation no one wants to have!!
What if inventory doesn't loosen up?
What if interest rates stay where they are or go higher?
What if buyers decide to wait?
What if transaction volume drops significantly in 2023 after a sharp slowdown in most markets in the second half of 2022?
What are you going to do?
How worried are you right now?
It is crucial to understand that you have no control, NONE, over what the real estate market is going to do.
And the recent bank headlines certainly add another level of uncertainty to the market in general.
That being said...
You can't make buyers, buy.
You can't make sellers, sell.
No matter how much you need a sale and/ or closing... it has ZERO impact on the market.
This is reality and don't be fooled into thinking any differently.
Right now it is slow for most every agent, no matter their level of experience and production.
The market is NOT happening to you... it is simply happening.
Yes, there are homes selling in multiple offers.
Yes, some agents are busy.
However, busy and productive are two very different things.
If you haven't sold a home in the last 6 to 9 months, welcome to the club. You are not alone.
This market is going to challenge you in every way possible.
You will doubt yourself.
You will question yourself.
You will experience some level of panic.
No one is immune.
As the Stoics say...
The obstacle is the way.
You have three choices right now:
- Get your butt in full gear.
- Quit and stay.
- Quit and leave.
Unfortunately, most agents will unconsciously choose option #2 - the worst of all possible choices.
What does it mean to quit and stay?
It means you keep showing up. However, deep inside, you have resigned yourself to the fact that there is nothing you can do to turn your year into a positive experience. With this attitude, you are likely to just keep going through the motions, hoping for some kind a miracle and living in a constant state of stress.
You know what option #3 on the list means and some agents will make this choice this year.
I want to focus on option #1 above in this week's 2 Minute Drill.
It doesn't make a difference what the market is doing...
IT DOES NOT CHANGE WHAT YOU NEED TO DO ON A DAILY/ WEEKLY BASIS!!
Tough markets... and this IS ONE...
Demand one thing... mental, emotional and spiritual discipline.
You have to get your head, heart, and soul in the right place.
No matter what happens this year... you are going to be okay.
How can I say that with 100% confidence?
The fact that you are still here and reading this email... is proof positive you will endure whatever this challenge is. Your "aliveness" means you have weathered storms in the past and you will weather this one. If you want to think differently... that is on you. That is not reality.
However, to thrive in this market and do what is necessary...
You have to let go of both your fear and hope. Neither will serve you.
What is happening... is happening.
What is going to happen... is very much uncertain, so there is no value in worrying about it.
This market is simply a wake-up call to get better in every way possible. Nothing more and nothing less. You can worry all you want, it is not going to change anything.
Instead, go to work!!
As in every challenging market...
It means getting back to basics, sound business fundamentals.
The last thing you need is a "good idea" just because you see someone else doing something.
If you have been in real estate less than 10 years...
This market is going to be a new experience for you. Buckle up.
If you have been in business 20 to 30 years or more...
You are not a stranger to shifts in the market.
Each new market has its own personality and with it... the opportunity for success.
No market is without opportunity.
Again, fundamentals rule in times like these. There are no quick fixes and no magic pills. The search for "instant anything" will only distract you from the work that needs to be done.
The best place to start is your CRM. Stop wasting your time on social media and driving yourself crazy and take a really hard and honest look at what is going on in your CRM.
3 things must happen.
- You must make sure you have the right people in your CRM - organized, grouped and tagged in the right way.
- You must have everyone set up on a contact plan.
- You must get your dashboard down to zero as a daily practice. Meaning... do what your CRM tells you to do each day.
You hear me say these things every single week to the point you want to throw up and archive me into oblivion.
I am going to keep reminding you every single week to do these same three things.
If you think you are doing them... think again.
Every week in my coaching sessions, I get into people's CRM. There is room for improvement everywhere. Don't fool yourself into thinking you have CRM wired. You don't.
And if you commit yourself 100% to your CRM this year...
THIS WILL BE A GREAT YEAR!!
This is a relationship-driven business. It always will be.
Fear and hope will keep you focused on transactions, not cultivating and nurturing relationships.
This year is your chance to work on your business in a certain way that will dramatically increase your chances for long-term success.
There is NOTHING you can do to create a 30-day return in real estate. Get over that nonsense. Trying to get people to do what you want them to do in the time frame that works best for you is a sure-fire way to kill your repeat and referral pipeline.
SPECIAL OFFER: You can participate in the last 2 sessions of our current CRM 10-Week Bootcamp at NO CHARGE. Just click this link and register right now.
This decision will change your life.
You are going to hear exactly what you need to hear by joining these calls.