Real Estate Trainer and Coach Joe Quattrucci shares more about the real estate market shift with his discussion of Shift Tactic #1: Get Real, Get Right. Joe is fresh off his stint teaching classes on Beat the Shift with Jacqie Stone at the Keller Williams Arizona Realty market center. Now he has agreed to continue his teaching and training through this series of blog posts. Here, Joe further discusses the shift and shares helpful information for agents as they get ready to take on this new phase of the real estate market.
In this blog post, Joe focuses on how agents can make the mental shift they need in order to approach the shift.
Control versus Cannot Control
During the Beat the Shift training, Joe shared two graphics that reflect the market reality real estate agents face each day:
“The market” is constantly fluctuating due to the number of buyers and sellers participating at any given time. This creates ups and downs in sale prices, inventory, and other measurables. Although agents have little to no control over this, their business income does not need to be beholden to these fluctuations. Instead, agents can focus on what they can control. They can bridge the gap between the expectations of buyers versus sellers. Agents can pivot their strategies left and right depending on changing market conditions, such that they maintain the same level of sales and income, or greater.
Yes, you read that correctly. Many agents experience a higher number of sales and income during a shifting market. This is because so many other agents are sitting on the sidelines, waiting for things to go “back to normal.” The shift may also paralyze them with fear or uncertainty.
For Shift Tactic #1, we are going to focus on an agent’s mindset. This will help agents begin taking their “unfair” share of the market.
Shift Tactic #1: Making the Mental Shift
To make the mental shift, there are four specific things agents should choose to do:
1. Face Your Fears
It is natural to avoid the things we fear. Many people do not like uncertainty or conflict, and therefore do not address fearful situations. However, these situations rarely resolve on their own. In fact, by not addressing our fears, we may be setting ourselves up for even greater issues in the future. If we can avoid the temptation to run from our fears, we can then understand them and face them with the appropriate tools.
2. Stay Focused
In the midst of uncertainty, have you ever lost your focus? Dealt with so many changing variables that you lost sight of the goal you had in the first place? This is normal–we are human, after all. But if you can keep your focus on that goal–focus on your target–then you have set yourself up to reach it! Always remember what your target is. Not sure what your target should be? Work with a coach to set goals that are specific, measurable, and time bound! Contact a KWAZ Coach and tell them you want to work with them on Shift Tactic #1.
3. Be Resourcefully Realistic
Prepare for the worst and strive for the best. This means taking the appropriate action to prepare yourself and your team mentally for the shift. You can do this by reducing expenses and reviewing your lead generation strategies. You should also utilize all the resources you currently have, and can acquire, to move your business forward.
Ask yourself questions like the following:
“Is my team’s bandwidth currently being maximized?”
“Are my team members in the right position to maximize their individual potential?”
“How can I eliminate, reduce, or zero-base my business expenses?”
Take a proactive and intentional approach to your business strategy. As a result, you will not only survive, but you will thrive through any shifting market.
4. Keep Your Perspective During Shift Tactic #1
What is it that you need for Shift Tactic #1?
- Focused Action
We often spread ourselves too thin by making everything a priority. Instead, make sure you have clarity on exactly what you want your outcome to be (this year, quarter, month, week and day). Then, prioritize your activities based on those outcomes. The 80/20 principle says that 80% of your results come from just 20% of your effort. So, what are those “20% activities” in your business? For most agents, it is lead generation.
Think of it this way: who owns your critical activities of Lead Generation and Lead Conversion?
That’s right–YOU DO!
With these critical activities, you need to develop new strategies and actions to keep these activities generating business for you. You might need to do three times the amount of phone calls as before the shift to produce the same results. Are you willing to do it?
Also, these activities will give you insight into the current market conditions. Every prospect you call and every client you speak with will deliver valuable pieces of information to you. You will learn about what is really going on in the market. What are they talking about? Do they have any questions? What are their objections? How can you position yourself as the right choice to gain their business?
At the end of the day, people will continue to rely on real estate professionals to help guide them through uncertain times. By positioning yourself as the local market expert and negotiator, you can continue to bridge the gap between buyers and seller. Therefore, you will cause your business to thrive.
Real Estate Market Shift Tactic #1: Get Real, Get Right with Joe Quattrucci
Joe is glad to share about Shift Tactic #1: Get Real, Get Right. He believes Keller Williams Arizona Realty agents should learn these tactics now so they can be successful during the market shift. By maintaining their level of activity, agents will see their market share grow through and beyond the shift.
Contact our market center today to learn more about what Keller Williams Arizona Realty can offer you in your real estate career. KWAZ is known as the best Scottsdale real estate brokerage for the exceptional level of training and support our leadership and coaching team provides. Don’t continue struggling with limiting beliefs. Join the top real estate brokerage that will lead you to the highest levels of success in your career!
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