Should you tough it out at your current brokerage or risk the unknown by leaving? Milena Monet shares questions to ask yourself to decide.
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Feeling torn between sticking with real estate or moving on in the current market and economy? The lyrics of The Clash’s iconic song echo the uncertainty many agents face today. Should you tough it out through potential challenges or risk the unknown by leaving? Much like the consequences highlighted in the iconic song. It’s a tough call, but here are five tips to help you decide:
1. Check out the market scene
First, look at what’s happening in the real estate world. Are homes flying off the market, or are they gathering dust? Pay attention to trends like housing supply, buyer demand and interest rates.
Sticking around might be worth it if things seem promising with plenty of opportunities. But exploring other options could be a smart move if the market’s sluggish and your wallet’s feeling the pinch.
2. Tune into your personal goals
Remember why you got into real estate in the first place. Does the thought of helping people find their dream home still light you up? Think about where you see yourself in the long run.
If real estate still aligns with your career dreams and personal fulfillment, then sticking around could be a great fit. But it might be time to explore new horizons if you’re feeling stuck or unfulfilled.
3. Invest in yourself
In a field that’s always changing, learning is key. Invest in yourself by staying up-to-date with industry trends, technology and marketing strategies.
Attend workshops, get certified, and connect with mentors who can help you grow. By staying on top of your game, you’ll be better equipped to tackle whatever comes your way.
4. Mix things up
Don’t put all your eggs in one basket. Consider diversifying your income streams and the services you offer. Maybe property management or commercial leasing could be a new avenue for you. By branching out, you’ll expand your earning potential and protect yourself from market ups and downs.
5. Roll with the changes
In today’s world, flexibility is key. Embrace technology, like virtual tours and online marketing, to stay ahead. Be open to trying new things and adapting to the ever-changing needs of your clients. Those who can roll with the punches are the ones who come out on top.
Ultimately, the decision to stay or go in real estate is yours. By weighing your options, staying true to your goals, and investing in your growth, you’ll be better equipped to navigate whatever comes your way. So, as The Clash would say, “Come on and let me know,” — what’s your next move?
Milena Monet has over 15 years of experience working in real estate; she works with various clients and has a Construction Engineering Degree from the Poznan University of Technology in Poland. Connect with her on Instagram.