Keep Calm and Carry On: 5 Tips for Real Estate Success in a Changing Market

KEEP CALM AND CARRY ON

5TipsforRealEstateSuccess

By Megan Climer | Tressler & Associates, PLLC

@TRESSLERLAW

615-444-2345

ORDERS@TRESSLERASSOCIATES.COM

Asthedust settles

from the last two years of real estate market mayhem in Tennessee, the slower pace brings forth a new set of opportunities. While you may think this market shift is bad for business, it can open a new set of possibilities for personal and professional growth. With the right mindset and a plan to navigate a new normal, you can not only survive this market shift but you can build your real estate business to thrive long-term. Here are five tips to help you stay on track and make 2023 your best year in real estate yet.

Shiftyourmindset

It can be a challenge to tune out all the negative noise made by the media and critics. While it is important to understand how the market is changing, dwelling on market forces you can’t control can only add unwanted stress and anxiety to your new circumstances. This is why a market shift also requires a shift in mindset. It requires you to prioritize your mental health as well as your business’s health.

In 2021, Dr. Jacob Towery, adjunct clinical instructor in the department of psychiatry at Stanford University spoke about the benefits of shifting your mindset. In his interview, he shares how mindsets play a significant role in determining life’s outcomes. When you understand, adapt and shift your mindset you can improve your health, reduce stress and build personal resilience.

Dr. Towery explains the benefits of a growth mindset. “You may have heard of “fixed” and “growth” mindsets,” he says. “These terms were coined by Stanford researcher and professor Carol Dweck, Ph.D. to describe belief systems about your ability to change, grow and develop over time. If you believe your qualities are essentially unchangeable or “fixed,” you may be less open to mistakes because setbacks are seen as inherent, and impinging on future success.”

“With a growth mindset, " he adds, “you know that you can change over time, and therefore you are more open to reflect, learn and grow from challenges. Because failure is less threatening, you are more willing to embrace life’s challenges, 04

take feedback as a learning opportunity and continue to learn and grow throughout life.

With a growth mindset, you are also less likely to personalize setbacks. Mindsets can impact your outcomes by determining the way you think, feel and even physiologically respond to some situations.”

Make your mindset a priority. You can start by turning off the news and media. Shut out the negative noise that will always swirl around our world, and focus instead on what positive outcomes can be achieved in this new market. There are many, really. It just takes looking at things differently and the discipline to transform selfdefeating thoughts into new narratives that promote motivation and growth.

Makeyour mindsetapriority.

Setnewgoals

With a new market in full swing, now is a great time to reset your goals. The last two years were bountiful for many. The abundant harvest allowed little time to sit down and plan for success further down the road.

Instead of planting seeds, everyone was scrambling day and night to win the notorious bidding war. The days were hectic, full of siteunseen offers, followed by counteroffers, many above the listing price. Inventory and interest rates were low, prices were high and the buyers and sellers were active. It was go, go, go. No wonder we feel like we’re in slow motion today!

Consider this new pace your opportunity to take a breath (deep breath in…1..2..3.., deep breath out…aaaaaaaaaah). You’ve been killing it to keep up and make hay while the crop was big (as you should have). Now you have time to appreciate your success, sharpen your tools and plan for your next harvest.

Grab a journal, laptop or napkin and start making a plan. First, write down three things you are thankful for in your business. Next, write three new things you are thankful for in your business. Next, write three new things you would like to learn to support your business.Finally, write three things you would like to accomplish in your business. Adding a timeline or “by this date” to your goals can also help you measure your progress along the way, but you do what feels best for you.

Then reach out to your village. This could be your broker, your mentor, your ride-or-die bff whoever you lean on for support and guidance through life and business. Share your business goals and ask for their input and advice. Once you know your destination, it’s much easier to make a plan. With your business garden ideas in hand, you can begin to determine what resources, support or seeds you need to help your business grow.

No more worrying. We already know you’re a hard worker. You’ve proven you can handle chaos, so now it’s time to dream of what comes next and lean into your potential.

It'stimetodream ofwhatcomesnext andleanintoyour potential.

Communicatewithintention

“Communication – the human connection – is the key to personal and career success. ” Paul

J. Meyer

If you are in real estate you know how important it is to communicate. As I write this, it is hard to think of an instance in your workday where you are not actively communicating. You may wonder then, why even mention it if it's already part of your daily practice? The key word here is intention.

In a recent article featured on Forbes.com, Kevin Markarian founder of Marker Real Estate shares why communication is key to real estate success. “Want to know how to increase customer satisfaction? Want to know how to get more referrals? Want to know how to get more five-star reviews? The answer is to communicate.”

“Communication must be proactive,” he adds. “As the real estate agent, it's important that you reach out first. Every tiny step in the buying/selling process is an opportunity for a touch point, and every time you do that, your customer satisfaction rating goes up a notch.”

A new market is a perfect time to review what communication activities are beneficial to your business workflow and what enables you to create a positive client experience. Write down your communication touch points. How can you improve your communication? Where can you try something new? 10

Brainstorm ways you can make your communication experience unique and personal - instead of cold and transactional. Make the most of every touch point with exceptional and timely communication and you’re on your way to more smiling clients.

Reconnectwithyournetwork

The pandemic years did many things to our society, but one most notable is it disconnected us from one another. We were isolated in our homes. Separated from our family and friends. We could no longer attend networking events and meet new people in our community. For real estate agents and many professionals, networking with your peers and community can help sustain and grow a business. It is an important development activity for real estate success.

So, if you haven’t already, here is your invitation. It’s time to reconnect! Dust off that box of business cards and add some networking activity to your calendar.

Reach out to your friends to see what new opportunities are available in your community. Touch base with your business partners, like lenders and title companies, who support your client experience. Check in with previous clients to see what's new in their lives and request future referrals. If you’re a real go-getter and live for this stuff, host your own event or partner with someone like Tressler Title and bring networking to your home turf!

No matter what opportunities you choose, reconnecting will recharge your sales funnel and restore your love for serving your community.

Offerextravalue

One of the best ways you can build rapport and trust is to offer value. Let’s be honest, as consumers, we all love to experience “extra”. It makes us feel special, appreciated and understood. There are tons of ways you can add value to your client experience that can pay off in big ways.

If you feel your business could use a little extra boost, start by asking your clients for feedback. Several free tools like Survey Monkey, SurveyPlanet and KwikSurveys offer templates that are easy to collect feedback to create a plan to enhance your client experience and add value.

Free resources are a great way to offer extra value to your clients. The eBook you are reading today was created to offer you more value. Resources can include a variety of materials and experiences, from printable PDFs and guides to webinars and lunch-and-learns. You can build a branded client experience around helping your clients succeed.

Changecanleadtoopportunity

It is easy to allow worry and doubt to creep into our minds when things begin to change. While we cannot control the forces causing this market shift, you can use this time as an opportunity to grow and learn.

Shifting to a growth mindset can help you embrace the challenges ahead and identify ways to learn and grow. Taking time to pause and be thankful can settle your heart and mind. Approach this new season as an opportunity to set new goals, sharpen your tools and plan for your next harvest.

Seek out opportunities to reconnect with your network, business partners and community. Find new ways to offer extra value. Host a class for weary first-time home buyers, write a guide to help homeowners prepare to list their homes, or create a printable PDF checklist to introduce your neighborhood with the top places to visit. You have what it takes to succeed in this new market and keep building a business you love.

Keep calm, and carry on. You got this.

Resources:

1 https://news stanford edu/report/2021/09/15/mindsets-clearing-lens-life/

2 https://www forbes com/sites/forbesrealestatecouncil/2020/01/02/successful-real-estate-agentsknow-communication-is-key/?sh=7bb2a0a56a7c

@TRESSLERLAW

615-444-2345

ORDERS@TRESSLERASSOCIATES.COM

Tressler Title

Tressler Title helps real estate agents and brokers, homebuyers and sellers, builders and developers, mortgage lenders and investors protect and close transactions. We are an experienced attorneyowned and operated title and escrow company committed to making your closing day meaningful. Our caring team works to ensure every step of the closing process runs smoothly, all documentation is carefully managed and prepared, and your client’s interests are insured and protected. Your peace of mind starts here.

AbouttheAuthor Megan Climer

As Chief Marketing Officer of Tresler & Associates, Megan leads the marketing, communication and development initiatives for the Tressler brands. She works to strengthen the company's position as a trusted leader in the legal and real estate industries.

Megan is an award-winning web and graphic designer and writer with nearly two decades of business to consumer experience with large and small organizations in marketing, communications, business development, public relations, advertising and brand innovation.

She’s an experienced consultant, working with large and small businesses in brand development and marketing strategy and leads brand development workshops for rising and seasoned entrepreneurs. Megan is currently working to complete her first book on brand development estimated for release in late 2023.

You can follow Megan on Instagram @mlclimer, connect with her on LinkedIn, or reach out to her directly at megan@tresslerassociates.com.