Let’s face it, the real estate industry is a highly competitive market and one needs to be strong-willed and determined to make it to the top.
But it’s not always that one can close a deal with a client and at times faced with circumstances that do not turn out to one’s favour.
Regardless, seasoned real estate specialists and industry experts chime in together to relate with similar experiences enough to dampen their spirits and strike a blow that affected their self-esteem when they first started. However, all of them have weathered the trials and have successfully moved on and ranked among the top real estate specialists.
Here are some valuable advice that helped them overcome the challenges and emerged stronger in the field;
Do not take rejection personally
The real estate industry is filled with ups and downs- there will be good and bad times. It feels good to close a deal, but it can be devastating to those that do not get what they want or expect.
An expert’s word of advice: Do not be afraid to be thick-skinned. This means that no matter what the outcome of a transaction or a presentation, always expect that things could go south and not take things personally.
The best thing to do is to always take things in stride, make every situation a valuable learning experience and move on. Failure is not always a bad thing, but it does help one to learn, try out new strategies, and become a better individual.
This is just a numbers game
Always make it a point to anticipate rejection. After all, it is just a numbers game so when you end up losing a deal. You can always look forward to the next one.
A valuable tip from the experts is to focus on all of one’s potential prospects or leads for the day and commit to giving it your best. If you have planned to present to eight leads in one day, focus your attention on preparing and presenting to all of them within the day and not to dwell on one single prospect.
Also, remember that not everyone has the same mindset, so the best way is to prepare a game plan and exhaust all possible means to get to know your leads. You may experience a lot of “no’s”, but rest assured that you will also be getting your well-deserved “yes.”
You increase your chances of getting a “yes” when you have done your homework, so make good use of that advantage to win your clients.
A “no” does not necessarily mean the end
At some point in your real estate career, you may be able to gain good wisdom to understand that a “no” could not mean the end for a prospect. In fact, it serves as a leverage for the client to open up a door to bargain, renegotiate a deal, or as a subtle way to ask for more.
To a veteran real estate specialist, it means that the prospect is trying to use a “no” to get a better deal and an agent with a good nose to understand the cue would open up a better option or provide a value-added service from the original offer.
Take this as a challenge and not dismiss the gesture. It may just be the clincher in getting the deal done.
One expert advice is to make sure to engage the prospect by fishing for topics that could be of great interest to them and find a way to recover from the situation. The key here is to not let go right away but to explore other means to make things work for the benefit of both parties.
Take time to collect your thoughts
Taking a break is not a sign of weakness, in fact, it is a time to reflect what could have been done better and to re-assess your strategies.
Always take some time to clear your thoughts so you can plan your strategies for the next prospects.
Do not rush things, especially when you feel that you are on a losing streak which could end up in a string of failures due to the lack of a well thought-out game plan.
Never be afraid of feedback
Your willingness to learn could be one of your greatest assets, especially if you want to learn to succeed. Success does not come in the same package but can be the result of determination, passion, and humility.
In the real estate industry, having a one-track mind does not win clients, but is a sure-fire ingredient for losing them. One does not have the monopoly of ideas that can win clients or close deals, rather it is a market that demands responsive agents, rather than stubborn ones.
If an agent receives a “no,” feedback must be sought in order to improve performance in the next round. Feedback becomes a potent tool to help people see what could have been done or what could be improved on.
Take on a mentor to help you grow in the industry. It does not have to be a professional relationship with a real estate guru, rather do your research in following the footsteps of recognised leaders in the field. Read their books, listen to the podcasts, or attend their conferences. These can help you get fired up and stay determined to make it big in the real estate industry.
Look forward to the long-term
Long-term goals can help one reel back from rejection in the real estate industry. Having your long-term goals within sight helps you understand that the steps that you encounter along the way will always be lined with successes and failures.
There’s no need to reinvent the wheel when you experience rejections, rather, try to devise ways to make the wheel turn faster and move further.
Make every effort to reconnect and not burn bridges. Maintaining professional relationships can help you strengthen your network and could prove useful when the time comes.
Increase your network
Take advantage of social media to help establish your personal branding. It can help you promote your business as well as help you build new professional relationships.
Social media marketing can potentially reach lots of people around the world and provide you with the visibility you need. But while technology has made it simple to reach out to a broader market, it does not want to you become lazy, rather take it as an opportunity to grow your network base and reach out to more people.
Do not take rejection as a stumbling block, rather make it a way to help you get back up on your feet so you can move on and learn from those experiences.