How to Manage the Highs and Lows of Real Estate
Updated: Jul 17, 2020
When asked why they decided to take this career path, many real estate agents will respond with phrases like;
“I wanted a challenging and rewarding career.”
“I wanted to help people’s homeownership dreams come true.”
“I wanted a life that was tailored to me.”
All of these answers are great and might very well be the truth. Well, the half-truth anyway. It’s no secret that most real estate agents get into the business for one reason. Money. It is well known that successful agents are able to mold their schedules to
meet their lifestyles while bringing in the income to support them. However, it isn’t an easy journey to the top. In order to become a top-producing agent, you’ll have to put in the work. You’ll be working long days and weekends in order to establish yourself.
Many new agents find it hard to balance the ups and downs of reaching success in real estate. At Dan Plowman Coaching, we believe that in order to be a successful agent you must be able to control the highs and lows, both emotionally and professionally.
Below are some tips on how to manage the highs and lows of the real estate business:
Be driven. In order to achieve the freedom you want in life, you must first have the motivation to do whatever it takes to get it. If you believe that your life and career are status quo, you’ll always be riding the real estate roller coaster ride. You must first acknowledge the ways you can do better and use that motivation to drive you.
Implement a marketing strategy. Aside from a marketing budget, you also need to implement a marketing strategy that is both realistic and driven to help you achieve your business goals. Once you have a clear and realistic strategy, it is important to stick to it in order to see improvement. At Dan Plowman Coaching, we help our coaching clients formulate strategies that work for them and hold them accountable to sticking to it.
Master the world of digital marketing. Social media platforms like Facebook and Instagram are the new word-of-mouth and provide great opportunities for showcasing your real estate business. If you aren’t familiar with social media marketing, educate yourself or hire a coach to teach you. Becoming proficient in the world of digital marketing is a great way for you to market your business and stay up to date.
Set goals. Make sure you are setting frequent goals and keeping track of whether or not you’re reaching them. This is very helpful as you strive to improve your business and will ensure you don’t fall behind. Your goals can be daily, weekly, monthly, etc., set them as frequently as you’d like but make sure to follow-up to see if you’ve met them or not. If you’re not meeting your goals, reevaluate how you’re setting them and adjust to ensure you reach them in the future.
Set realistic expectations for clients and colleagues. Often, real estate agents are so eager to please their clients and colleagues that they will make promises they cannot fulfill. This often results in unnecessary stress for agents as they are struggling to meet unrealistic expectations and disappointment for clients and colleagues when they don’t receive what they were promised. Following the phrase, “under promise, over deliver,” can be helpful when setting realistic expectations for your clients and colleagues. This will ensure that you’re never over-promising, but still allows you to deliver more and exceed the expectations of others.
Set aside time for yourself. Real estate agents are always on the go and often forget to take time for themselves to recharge. This can cause agents to become worn out and lead to stress in their personal lives. It is important to find a balance between work and personal life. It is equally important to be present for your clients while you’re at work as it is for you to be present for your friends and family members when you’re not at work. Finding a healthy balance between your work and personal life is important for your wellbeing and thus, the overall success of your business.
The journey to a successful career in real estate can at times feel like a roller coaster ride for any agent. We recommend finding a mentor or a coach to help you manage this roller coaster ride and share with you how to make the journey easier and more
At Dan Plowman Coaching, we help our clients stay on track by teaching them techniques that will help them manage their real estate career so that they can reach their highest potential while still enjoying life.
“I should not be more excited about your business than you are.” - Dan Plowman