How to Make Tough Decisions in Real Estate

Making tough calls and having awkward conversations in real estate – whether it be with colleagues or clients – is never easy. And sadly, toughening up and knuckling down to get them over and done with isn’t an ability that comes to everyone naturally.

So, if you’re struggling in the face of difficult situations, don’t worry – you’re far from alone. One of the biggest learning curves you have to make that takes you from a real estate agent to a leader is the ability to make hard decisions that are followed by tricky conversations.

These could concern anything from business strategy to finances to complications in the sales process where you have to let a client know that their property isn’t likely to sell in time for them to meet the terms of their unconditional offer on the property of their dreams. Nobody wants to have them, and it’s natural to not want to upset other people or let them down.

However, these situations need to be managed. Avoidance of problems isn’t solving problems – it’s a problem in itself.

As a senior agent or real estate business owner, making these decisions can be pretty lonely. Despite this, there are a couple of rules you can follow that will keep you on top of the difficult calls:

Play it Straight

No matter how easy it might be to tell people what they want to hear, it’s not always going to help you in the long-run. If you’ve got a difficult conversation to have with someone, whether it be professionally or in your personal life, you need to have it, then manage the fallout.

At the end of the day, after all the sales and commission, you need to be able to look to your moral code, stand in front of the mirror and be happy with who you see staring back.

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Stay Transparent in All You do

Being abrupt and secretive with clients might lead to a bigger pay-check, but it’s not necessarily going to stick well with your moral code. If you’re struggling with what to do, make sure you act with transparency and keep your decisions within a framework of honesty. Focus on building relationships with people, not the quick wins.

You need to remain aware that the conversations you’re having with your team members and clients won’t just be left in the meeting room – they’re going to have a flow-on effect. So, it’s your job to stay straight, remain transparent and keep shooting for that originating outcome.

Act Quickly

Your team are going to understand that decisions take time, but they also need to know that the decisions you’re making are for the greater good of the business.

Additionally, if you take too long to make decisions, you might leave them thinking you don’t care enough. You need to find that delicate balance between being too hasty and taking too long, remembering that clients and your team are counting on you to make the right call.