Real Estate Agents: 3 Mindsets For A Shifting Market
Times like right now are an opportunity. It might take more work than you had to do a year ago. You might need to implement new strategies. But it’s simply a fact that the harder a fruit is to pick, the fewer agents will go after it. You’ve got a unique opportunity right now: you can outperform your competition through knowledge and new approaches. The best part is this: once you learn the right strategies, the work gets easier again. Here are three mindsets you need to adopt right now to succeed when other agents are slowing down.
The River of Real Estate
The river of real estate flows on. Just because interest rates and market conditions aren’t as favorable as they once were doesn’t mean people don’t need to move. People have needs that the market can’t consider—marriage, career change, death, graduation, divorce. . . The list is endless. None of these things stop because of interest rates. Real estate is a river, and it flows on. Adopt this mindset and start dipping your toes in. Someone is going to get that business. Why can’t it be you?
Since we’ve established that plenty of people will still need to participate in the real estate market right now, what are you going to do to help them feel confident enough to move forward with a buying or selling decision? There’s a lot of fear in this shifting real estate market and countless perceived threats. Instead of ignoring those threats, you need to learn to address them, educate your clients past them, and build their confidence to such a level that they see that right now is the right time for them to buy or sell.
These threats can be anything from “interest rates are too high” to “new construction isn’t a good fit in this market.” I’m not suggesting you merely address the concern and make it a non-issue—learn tactics and strategies for dealing with the issue. Offer your clients novel solutions. While these solutions won’t be right for every situation, they’ll show your potential clients that you have enough know-how to help them find the right solutions to their threats.
While dealing with threats and helping build client confidence, it’s helpful to have some understanding of your client’s emotional state. If negative emotions are getting in their way, the ability to help them undergo emotional transformation will save deals and create pathways for your clients. This handy emotion wheel can be a great starting point for understanding what emotions naturally counteract the unhelpful ones your clients might be experiencing.
When you start to understand that transactions still need to happen and learn how to create client confidence through threat elimination, offering new solutions, and creating emotional transformation, you’ll start to close deals that other agents in your market would say are impossible right now. Don’t listen to them—you can know and do better.
These three mindset shifts come from our program, The SHIFT. For more information on The SHIFT, click here.