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How to avoid the ups and downs of the real estate cycle

By Steve Nottle
09 May 2022 | 1 minute read

Real estate provides us all with some incredible highs, both personally and professionally, yet, it also has a way of hitting us with devastating lows just as quickly.

The result often creates a turbulent rollercoaster ride of ups and downs that ultimately sees too many good people in our industry burn out. But it doesn’t need to be that way.

If you want your metaphorical real estate wheel to continuously turn with consistency and stability, it’s vital that you follow these three tips to enjoy a long, happy, and successful career in real estate.

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Don’t stay up, or down, for too long  

It’s imperative to understand that the highs and lows are never actually as high or as low as we think they are. That’s why it is so important to form a healthy relationship with your emotions.

Emotions are not facts that are set in stone; rather, they are often a highly evolved – and evocative – version of your reality. So, by learning to deal with your emotions in a healthy way, you can make a tremendous difference to your ability to maintain a sense of stability and inner peace.

The heightened emotions that are part and parcel of real estate can turn a good day into a bad one in a heartbeat, but there are strategies to prevent this from happening. I always recommend agents celebrate their wins and also make time to mourn their losses, but then move on quickly.

The very best in the business have developed the resiliency to do this and you can, too. 

Consistency is key

In real estate, the agents who are the most consistent in everything they do are the most successful.

They have a set routine – personally and professionally – that they consistently follow to ensure they are always working towards their ultimate goals.

Consider that someone who is honest some of the time shouldn’t really call themselves an honest person, should they? Likewise, prospecting for new clients irregularly will never result in continuous opportunities, and only providing high-level services when it suits you will never deliver consistent five-star reviews.

The most successful agents demonstrate a consistency of behaviours, actions, and standards that are a reflection of the person who they wish to be. And they do this every day – not when it suits them, or when they feel like it. They consistently follow a proven formula that ensures that they are always maximising every opportunity as well as providing superior service every single day.   

It’s the process, not the prize

There really is nothing better than achieving a spectacular result for your client, is there? They are overjoyed with the result, and your team rightly pauses to celebrate the outcome.

However, you can never afford to let the gloss of the prize distract you from the process of achievement. Top agents always measure themselves against their execution of the process and not just the end result – regardless of how happy their clients are.

By measuring your performance across the entire process, you will have created the opportunity to visibly achieve every day in a decisive way, versus relying on one potential, or past result, to blindly influence how you assess your overall performance.

Objectively assessing every aspect of your process will make the difference between whether you are regularly celebrating the wins or losses.

The prizes will come – but only when you have completed the actions constantly enough, well enough, and for long enough. There is no shortcut to success after all.   

How to avoid the ups and downs of the real estate cycle
Steve Nottle reb
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