I’ll tell you 2 true stories..
There has never been a better time in history to be a real estate professional. You are living through the golden era of a fully matured industry in peak form. Without question, the opportunities for earning and achieving incredible levels of wealth and freedom have never been better. Really…
All aspects of the real estate transaction can be performed from anywhere in the world with merely an internet connection. There has never been a time before when the entire real estate transaction—from introduction to closing day—could be done without stepping foot on the premises, getting an actual signature, or physically meeting with the client. Anyone who’s been in the business for 15+ years will tell you how unthinkable this once was.
Home prices around the world have ascended to unprecedented record levels, yet the 6% listing fee continues to be commonplace for those who run their business with the best tools and tactics. The capable listing and buyer agent is far better compensated today than their predecessors were; in fact, it’s not even close..
While automation and algorithms have rendered entire industries and tens of thousands of jobs obsolete, the savvy real estate professional has never been more valuable in a world starved of human touch. Rather than replacing the agent in the center of the transaction, technology has enhanced the realtor’s speed, position, and efficiency. While tech and AI has automated so many jobs, it has actually elevated the effectiveness of the hardworking real estate agent!
I could go on..
Yet, I also know mortgage interest rates hit 8% last week and nearly 2 million transactions (nearly 35% across the US) DID not happen this year because people are locked into sub 3% mortgages.
I know many agents are struggling to keep their head above water – much less make the income they want.
I know that wars, inflation, bad government policy and persistent economic headwinds continue to hurt the real estate markets across the country.
I know we’re heading into winter and 2023 is nearly over.
I know getting a deal done can often mean working 2x as much for half the money.
I could also go on…
See, both of those narratives are 100% true. It’s all about which you choose to focus on. I am certain there are as many opportunities in difficult markets as there are in booming markets. One might be easier to identify at the surface level, but both markets have abundance if you are willing to look. In my experience, what you believe is what you achieve. If you want to see the problems, they will always be there... but SO is WHAT’S GOOD and POSSIBLE! Both are there all the time… So it’s time to choose.
Choosing to focusing on wrong one is unfortunately costing many talented agents lots of commission dollars - OR worse, their career. But make no mistake – it’s a choice!
Here’s my advice based on my experience in the trenches of selling homes for many years and coaching high-performing agents.
It all starts with a decision. To first, identify the many opportunities that do exist. Second to focus on ways to leverage those opportunities. And last - but perhaps most importantly - to not allow what’s not going wrong to derail your focus from what is going right or COULD go right. I can tell you that - for me personally and many others - this is a daily commitment.
This year I’ve traveled the country and coached thousands of realtors for hundreds of hours – both in group and 1 on 1 settings – and know firsthand far too many good agents are stuck focusing on the challenges and problems in their markets.
I say this out of love.. but those who continue to focus only on the problems are going to have a tough 2024. As a leader in the real estate education space I am on a mission to spread hope and optimism. But not uniformed optimism with false sunshine and rainbows.. I want to spread the hope which actually exists in all of the difficulty. For which there is much..
Here’s a time-tested truth many tough markets have shown us.
Those who do otherwise – which is to focus, find, and leverage the opportunities in their business – are going to be disproportionately rewarded for doing so. Your competition is pulling back. Waiting for easier times. Not investing in growth and success. Hunkering down. Playing defense. Unfocused. Unmotivated. If you’ve ever wanted a massive opportunity to get ahead in your market, 2024 looks really promising for anyone willing to refocus and roll up their sleeves!
Again with love I say... choose positivity! The glass is half-full. Invest in your skills. Your business. Your life! You are worth it, and NOW (when it isn’t easy) is the best time recommit to it all.
This is not fluffy mindset nonsense. This is tactically how you can grow your business at a time where so much market share is up for grabs for the first time in a decade!
Oh yeah one last point…This won’t last forever and soon enough; we’ll all see easier times. At which point those who’ve taken full advantage NOW will be MILES ahead of the people waiting to start. You decide which you’d prefer.
I’m here to help make 2024 your best year yet! Don’t be afraid to invest in your biggest asset – which is YOU!
© 2023 J.J FOX COACHING. ALL RIGHTS RESERVED.