How to Handle the Boom and Bust of Real Estate

Every real estate agent goes through the same thing, {{ first_name }}.

Sometimes, you feel flush with cash. Everything is going your way, and you’re excited and positive about your work.

Other times—more often than not—you feel broke. You wonder where your next deal is, or if you’ll ever sell another home.

This is a boom-or-bust business. It’s simply the nature of the beast.

It doesn’t matter how many homes you’ve sold. This emotional roller coaster doesn’t smooth out with experience. 

You’re not the only one on it. Your team and your clients are on this crazy ride, too. Hopes and dreams are on the line everywhere you look.

And as your emotions get jerked around, you wonder what to do about it. What can you do to make the highs last and avoid the lows?

My answer? NOTHING.

You don’t have to respond to any of this. 

The boom and bust are real in that this industry goes through cycles, just like any other…

But the emotional agony that comes with it is all a story in your head. It’s a consequence of clinging to the highs and rejecting the lows.

This is why we talk about having a Mindset of Harmony.

What does that mean?

It means you are who you are…what is, is…and what will be, will be…

And you’re not fighting any of it. When you feel flush, great. When you feel broke, great.

It doesn’t change what you need to DO every day.

Whether you have ten escrows or zero escrows, your job is the same: to cultivate relationships.

There’s absolutely no need to change your strategy or tactics based on the emotion of the moment. The only thing you EVER need to do is stay committed to your job.

That’s why Time Blocking is so critical.

When you time block, your calendar is your compass. You do what’s most important because you put it in your calendar, and if it’s in your calendar, you do it.

On a call today, we did a survey.

When we asked who had CRM time blocked in their calendar 5 days a week…about ⅔ said yes.

When we asked who actually makes their calls at the allotted time…only ¼ said yes.

This is a beautiful example of why we are where we are.

These are people who hear my coaching every day and read my blog every week. They KNOW the importance of blocking out CRM time every day. They’ve heard me say it over and over. I couldn’t possibly be more clear about it.

And yet, they still don’t do it.

They’re still chasing instead of cultivating relationships. 

The power of fear and habit takes over, and they don’t do what they know they’re supposed to do.

That’s why the emotions of boom and bust are so powerful—because you’re not doing what you’re supposed to do, and you know it.

The lows feel extra bad because in addition to feeling panicked, you feel guilty and foolish.

The highs feel good but also panicky because you’re not sure how long they’ll last or how far you’ll fall when they’re over.

But when you KNOW you’re doing what you’re supposed to do every day, you can feel at peace no matter what. 

You can recognize that there are many factors beyond your control, and simply continue doing your job the way you know you should.

This feeling isn’t the same pleasure of being flush—it’s contentment and fulfillment.

It’s stable. It lasts. It’s not subject to the boom and bust.

I’ve said it before, and I’ll say it over and over and over: chasing never ends well.

Too many agents buy into the myth that if they just sell enough they’ll be okay. So they keep chasing deals, trying to reach “enough.” 

I promise you, you’ll never get there. “Enough” is a bar that never stops moving.

There is NO AMOUNT of sales you can do that will make you feel okay. 

As long as you’re chasing instead of doing what you’re supposed to do every day, you’re gonna get whipped around emotionally…

And when you get to the end of your career, your last deal will be your last paycheck, and it will still not be enough. 

Selling more homes does not make you immune to any of this.

I’m not saying you shouldn’t sell any homes—I’m saying how you do business is more important than how much business you do.

A repeat and referral business is way more valuable than a lead generation and conversion business.

The former is built on relationships. The latter is built on transactions.

Transactions don’t compound over time. Relationships do.

Just take a look at where you are and ask yourself honestly…do you believe selling more homes will make your life better? 

You probably do.

I’m here to tell you it’s a lie. It’s an illusion.

The thing you get paid for the most in real estate is being consistent—specifically, being consistent at cultivating relationships.

(If that’s a new idea for you, I HIGHLY recommend that you read Real Estate Is Not Rocket Science.)

Right here, right now, in this email, I’m giving you the idea that will make you the MOST money…

Are you going to take it?

Are you actually going to do it?

Or are you going to ignore it and keep looking for magic bullets?

If you’re serious about becoming consistent and you’re not yet in the Daily Accountability Calls, I invite you to join us for the next 2 weeks at no cost.

Click here and fill out the form to start your free trial.