Surviving in the 'Long Haul' Market

Surviving in the 'Long Haul' Market

If you're waiting for a dramatic turnaround in the market to save your business, stop. Instead, get mentally stronger and improve your commitment to your career.

November 2011 | By Dirk Zeller

Real estate has seen some ups and some downs over the past decade. Right now, we’re in what I call a long-haul market. What that means is that there probably won’t be radical improvements in the overall health of the industry, so people who want to stay in the business need to be committed for the long haul.

What you need to survive in a long-haul environment can be summed up as follows:
1. Your attitude toward the realities of the market.
2. Your sales skills and business acumen.
3. Your level of commitment and discipline.

It’s that last point that I want to address here.

Today’s market has revealed where agents, brokers, and companies are lacking. Warren Buffett has a great quote that I love: “When the tide goes out, you know who’s been skinny-dipping.”

Because the tide is out right now, today’s market demands more discipline, mental toughness, and consistency. If you don’t have those qualities, you’re going to be vulnerable

Let me share with you some key rules to fine-tune your discipline and attitude.

Understand That It’s Not Easy

I often hear brokers and practitioners complain about how tough the market, sellers, buyers, and transactions are today. Well, who promised them a rose garden? Whoever says success and rewards are supposed to be easy is either mistaken or selling something. It’s always been challenging. Of course, we had an easier stretch from 2002 to 2006, but that’s gone (and it really shouldn’t have gotten to the point that it did). Get over it.

Several people I know are having their best year in real estate. But they’ve mastered their attitudes and maintained a reasonable level of discipline to achieve those results. Once they grasped that concept, they were able to put the systems and strategies in place to expand their business.

Do the Tough Things First

This is a motto to live by. You won’t get ahead without taking on the tough stuff right off the bat. The odds of being disciplined enough to will your way to doing the most difficult things around the end of the day aren’t in your favor. Your energy level is low and your mental sharpness is diminished. If you want to accomplish big things, get going on them as early as possible. You have to be aware of the time and energy involved in getting through everything that has to be done.

Extraordinary Results Require Extraordinary Efforts

Don’t settle for less — expect more of yourself. Now is the time to take the market share from others. Is your competition surpassing you in commitment, skill, and performance? What do you need to do with consistency to move into the extraordinary category?

Also, what is the one thing that, if done with excellence, will make the biggest difference in your life? You don’t need to be extraordinary at 20 things. The most successful people are extraordinary at about a half-dozen. They spend most of their day on them. What are your specialties?

Never, Never, Never Give Up!

There are too many practitioners who have given up or are thinking about giving up. They’re doing so because they’re wishing for external forces — some sort of deus ex machina — to cause change and improvement.

However, real change and improvement come from within. Don’t wish it were easier; make yourself better. You might have to delay certain things in your life to get back on track.

When I wrote my first book, I stopped playing golf for a whole year. I denied myself for a short period of time. When the writing got extremely difficult, I never gave up. You can’t be defeated by the marketplace unless you quit. You might be delayed, but you won’t be defeated.

Today’s marketplace requires more. Are you willing to pay more to achieve what you want? To grab the lifestyle and income that you desire? You are the only one who can make that choice. What do you choose?

If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!

The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.

Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com