Agents Decoded: Shifting your mindset in this new season of real estate
Team leaders Renee and Jeffrey Funk advise agents to focus on relationships, strategies and opportunities during this changing season of real estate.
The direction of your business depends on decisions you make every day. Agents Decoded can help you by presenting the perspectives of seasoned pros who have been there, made mistakes, and found success.
Renee Funk: Shifting away from "shift"
Read nearly any news article or stand in a room of real estate agents, and you're bound to hear it: "Shift" — "shifting market, shifting business, shifting behaviors." It feels like an ugly word, tinged with uncertainty and anxiety. Instead, what if the real estate industry focused on a different kind of shift? A shift away from potential negative mindsets and toward the idea of changing seasons.
Seasons change — they are a natural part of any real estate cycle. And in this season, the relationships you foster with your clients, colleagues and within your community are critical for building a strong and sustainable foundation for your business. Weathering every season in the market takes more than just luck and preparation — it also takes confidence, clarity and community.
Confidence is fostered by:
Being a forever student. Whether you are a new agent, a rising-up agent or a seasoned veteran agent, always be curious to learn.
Be the knowledge broker. Know the data, including hyperlocal and national data supporting your market.
Be authentic to your learning journey. Never be afraid to admit when you may not know the answers (yet).
Clarity. Get clear on your business intentions, your purpose, your commitments and the solutions you provide to the communities you are a part of.
Community. Double down on human connections. Being an "Ambassador of Community" is one of the most important assets in your business. Build community through your neighborhood, your network of agents, your area schools, your favorite hobby or your passions.
While it may occasionally feel easier to bury your head in the sand out of frustration or uncertainty, be the leader standing tall. We're all leaders, and you do have what it takes.
Much more than a transaction, much more than a sale, real estate is relationships. The human connection is the foundation sustaining the real estate business — through every season.
Jeffrey Funk: It's a new season: Are you ready to play?
We've entered a new season in real estate. Interest rates are on the rise, and the forecast is calling for fewer sales this season. Last season's winning strategy of the highest bid with the fewest contingencies no longer applies. Like every season, this one will have new challenges but also new promises, new beginnings and lots of wins.
How are real estate agents going to win in the new season? By going back to the playbook and strategizing.
First, take time to reflect on the past season: What have you learned? What tried-and-true plays in your playbook will you carry through? Are you crafting new plays? Then, look to this season — and remember, it's not just about finding the right property for clients, but also about finding the most efficient and cost-effective solutions. Bring a mindset of contribution, and contribute to your clients!
In every season, there will be winners and there will be losers. This season may be more challenging for those who try to go it alone, so ask yourself:
Who is on your team?
Do you have a coach?
Are you collaborating with other agents?
How are your vendors contributing to your success?
As with any sport, it's not just about the game you play but also who you're playing with. Your alliance with others will serve you well. Contribute to your alliance!
Let's not forget about your raving fans — your PCSOI (Past Clients and Sphere of Influence) — those are the people who helped get you here and want to see you succeed. This is a time to reconnect with your fans. Even if they're not in the game this season, they're still interested in learning about your sport. They will be the first to shout your name when they see someone looking to get into the game. Contribute to your raving fans!
It's important to stay nimble and adaptable, just like any good sports team. The real estate market is always changing and evolving, but with the right alliance, you can be champions of this new season. Do the work and share your success. Contribute to those around you.
So strap on your cleats, real estate agents — it's time to hit the field and dominate the new season.
Renee and Jeffrey Funk lead a top-producing team, The Funk Collection, serving the greater Orlando area. They have decades of real estate experience and often speak at industry events. The views expressed in this column are solely those of the authors.