Building resilience in the industry as a real estate agent

Real estate agents will tell you that the property market swings in cycles, and that there are times when there are severe recessions, or when it seems like the market is paralysed. Everything is rosy for estate agents when the market is good. When the market hits a low point, mental resilience becomes critical because agents must find new strategies to succeed.

The markets have changed all over the world, some buyers will need to assess what impact their purchase have on their finances. Are they buying at the right time? Are they ready for the commitment? And so on. The market change should then determine the approach, in this case adaptation is necessary. Resilient estate agents must learn to adapt their approach in light of the market change.

Nobody succeeds or acquires something substantial only by daydreaming or spending every waking hour fixated on a dream. According to a well-known motivational speaker, you work eight hours a day to survive, and anything you actively do afterward is for success.

No one- absolutely no one climbs the ladder of success with their hands in their pocket. Those who will survive the current hurricane will be those who have recognised this.

The real estate industry is like a vast ocean with a plethora of swimmers. Either you swim or you don’t. Times when the market deteriorates, some agents begin to reduce their marketing efforts. The strategies they employed during peak periods are no longer effective. Instead of trying out new strategies, finding new opportunities, some just fall off track.

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Guess what? This opens the door for the more resilient ones to thrive and dominate. These tenacious agents know their clients and work with them, they empathise with them, and deliver value consistently. They no longer only look at them in terms of sales figures but more in terms of the value add and dreams brought to reality. These agents understand the psychology that drives buyers’ decisions.

When I first started in real estate, I knew I wanted to stand out. I didn’t want to do the same as everyone else. I was consistent. Despite the fact that it is perceived as a male-dominated space, it did not deter me, and the energy I brought to work paid off and continues to pay off because I keep trying.

You have to keep learning. You have to be consistent. You have to be innovative not forgetting The God factor.

Technology has advanced different ways of doing business. Balance your experience with innovation; if you do your business based only on monetary gains, you are not seeing the whole picture from the buyer’s point of view. A resilient agent recognises the importance of learning new abilities to reposition yourself in a more competitive market, learning new skills, building strong professional ethics, building integrity and a lot of client relations and management skills.

The willingness and openness to new knowledge is what makes the difference, especially in today’s age of technological disruptions.

Self-discipline is another important spice in developing resilience. I believe it is the highest form of self-love. Doing what needs to be done, when it needs to be done, whether you like it or not, whether someone is watching or not. This helps you build great work ethics and distinguishes your work from the lot.

The ability to compel yourself to pay the price for success, doing what others do not enjoy or will not normally do, doing it consistently, going the extra mile, fighting and winning the lonely battles all by yourself, is the secret to success.

Build integrity- Your Word is your Bond. The integrity behind your name will be the greatest capital you will ever need as a real estate agent in Nigeria, or in any part of the world. If for any reason your integrity is questioned in any way, all your hard work goes down the drain. Integrity and your values are your collateral. There are a lot of competent people including agents without character, and when the storm comes, it washes them easily.

Resilience is the fuel that powers you to develop a positive approach to life, making it possible for you to stay motivated in times of adversity and solve problems. With a resilient mind-set, you naturally feel the day-to-day tasks are more approachable such as closing a deal, generating leads or even marketing and sales.

Resilience is strength, if you have it, you will be able to: Stay motivated whether you are facing a crisis or not, get the strength to deal with change, get cushioned from burnout, have an improved overall health, have better mental health, build better relationships with your clients, be ready to give and receive help.