As global markets shift, real estate agents are feeling uncertainty. To what extent will rising mortgage rates affect sellers? What will housing demand look like in six months? How will real estate agents adapt their business to thrive in the new climate?
While these are all valid questions, I believe the first step to turning change into opportunity is to stop and consider your mindset. When you see uncertainty in the market, do you think about everything that could go wrong, or do you see opportunities? What I have found is that in every challenge there is an opportunity. Those who are willing to upgrade their thinking and innovate their approach to the business realize opportunity far more often than those who keep the status quo.
For example, when businesses were shutting down after the 2008 housing crash, eXp World Holdings Founder, Chairman and CEO Glenn Sanford saw an opportunity to launch a cloud-based real estate company with a flexible operating model. Thirteen years later, eXp Realty continues to thrive through challenging market conditions. This summer, we will be providing the entire real estate industry a chance to level up with more access to training, coaching and opportunities to learn from top agents crushing it in this market.
For now, here are 10 ways to see the opportunities in this current real estate environment:
- Face your fear. Be honest with yourself and be clear on what you fear. Change? Failure? Discomfort? Embarrassment? Define it – this process puts it in a box and makes it smaller and less scary.
- Don’t fool yourself. Listen to your self-talk and learn to see the pattern. Don’t allow excuses or procrastination. Trade complacency for ingenuity.
- Turn off the negativity channel. Avoid the click-bait drama; remember that some people and companies prosper from your fear and do all they can to increase fear. Distance yourself from negative people and don’t sabotage your own success—find your cheerleaders who see greatness in you.
- Dream big. What could lie on the other side of change? What if you win? If you changed your habit and changed your results, what could you accomplish? What life could you be living in a year, or five years?
- Think small. Set attainable, stepped goals that lead to your big goal. Don’t try to make a massive change overnight—fight inertia with small steps.
- Find the brave ones. Who you surround yourself with matters. Bravery is feeling the fear and doing it anyway…there is courage and safety in numbers. Be emboldened by their bravery and encourage each other to success. It only looks crazy until they start winning.
- Be a student. You tend to fear what you don’t know or understand, so learn it! Find a mentor or guru, find someone who has been through it and be open to new ideas and perspectives.
- Be grateful and positive. Gratitude and positivity during challenging or uncertain times are mindsets formed by habit. Start a daily gratitude journal and watch your mindset shift. Short positivity challenges can change how you think and talk for long-term joy.
- Take action. Once you start moving forward, you harness the power of inertia rather than letting it hold you back. Action creates opportunity, opportunity creates hope, and hope drives more action. Start small, start scared, start messy – just start!
- Celebrate wins. We tend to downplay our victories and milestones, comparing ourselves to others or already moving toward the next goal. Remember that every inch you fight for in a changing market could become a mile when the market surges back. Celebrate—you earned it!
For more information, visit https://exprealty.com/.