There’s a lot going on in real estate and beyond, writes broker Troy Palmquist. Here’s how to block out the things you can’t control so you can get back to business.
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From paradigm-shifting technology to leadership shakeups to hotly contested court battles, it seems that 2023 is determined to keep making noise all the way through to the holiday season. Every time you feel like you’ve got your hands around one scandal or existential crisis, another one comes rolling along.
Obviously, it’s important to know what’s going on and to keep yourself up to date on the latest news. It’s vital to know what factors are going to impact the industry in general and your business in particular.
At the same time, however, too much information — especially about things that you can’t control or predict — can have you feeling helpless, hopeless and unmotivated. It can negatively affect your mood and your mental health, not to mention your ability to move forward and accomplish new things.
Now add to that the fact that, if you’re broadcasting all of that negativity to clients, colleagues, team members or agents at your brokerage, you’re affecting their ability to move forward in a proactive way.
It’s time to stop and do some self-evaluation in the midst of all the noise so that you can get your focus back where it belongs. Here’s how.
1. Get your mindset right
If you’ve stopped doing basic daily mindset exercises like meditation, visualization and positive affirmations, it’s time to get back to them. The change you want to see begins with you, your mindset and your motivation.
Not sure how to come up with a positive affirmation for the day or tired of all of your affirmation resources? Ask ChatGPT for a positive affirmation each day with the prompt: What is a powerful positive affirmation and motivating thought for today in real estate?
2. Pay attention to the people around you
Who are you surrounding yourself with? What kinds of conversations are you having? Your mindset will only be as healthy as those you’re communicating with.
Those conversations apply to your social media and online friend group, as well. Audit your social media feeds and see what kind of vibe is there. Are you taking in positive thoughts and actionable insights or a lot of negativity and anger? It may be time to mute or unfollow some folks so that you can feel better.
3. Take positive action
Frustrated with leadership? Join a committee, run for association office or get your broker’s license. Worried about lawsuit impacts on buyer commission? Transition to a listings-based business.
An agent who keeps their head down and their nose to the grindstone will pick up market share, even in a market that people are writing off. There’s business out there and I know many agents who are doing more business than they’ve done in previous years. The difference? They’re ignoring the distractions in favor of taking positive steps and actively prospecting.
4. Ignore the haters (and don’t be one)
In any market, there are people who want to hate on those who are successful. In any market, there are people who would rather question your methods than celebrate your wins. Don’t give those people one square inch of real estate inside your headspace.
Stop worrying about why someone is giving you a hard time. Set firm boundaries for your interactions and, if possible, avoid dealing with them. If you’re spending too much time focusing on others, figure out how to move your focus back to your own business instead.
5. Rethink your business in light of your priorities
If you’ve been passively waiting for leads to appear or convert, you may need to rebrand or reboot your marketing. If you’ve been working in your business, you may need to build more leverage so that you can work on your business.
Feel like you don’t have enough financial stability? Work with a financial advisor. Join or form a team. Look at other brokerages that have additional value opportunities like health insurance or wealth planning. Go out and forge new opportunities and new alignments based on what’s important to you.
There are always reasons for feeling down and focusing on the negative. Instead, focus on yourself and the things that are within your grasp. Remember that famous adage: “What you focus on expands.” Focus on the things you love, the things that light you up, and watch them grow.
Troy Palmquist is the founder and broker of DOORA Properties in Southern California and director of growth for eXp California. Follow him on Instagram or connect with him on LinkedIn.