A career in real estate can be stressful on a day-to-day basis. As a broker, you face building a business, maintaining a business, and executing a business every day. Every day, your financial results are in your hands while you navigate your professional and personal life.
The good news, in my opinion, is that based on the emotional intelligence (EQ) needed to navigate a real estate transaction, it will be an arduous feat to disrupt the agent equation in our industry. Efficiencies will be found, but buyers and sellers will always need an adviser and advocate, one that they like, know, and trust.
The nature of our business means that stress is a natural byproduct. Your mind and body are wired for “fight or flight”. We’re programmed to protect ourselves, and our brain is wired to find to identify threats. It’s always on the lookout for “danger in the weeds” which causes a constant state of “go, go, go” that puts stress on our body system. This toxin builds up and accumulates in our bodies and minds over time. How you process and manage stress should be turned into a daily exercise.
There are a few things I’ve seen brokers do that are effective and allow them to serve more clients. I’ve studied this topic as it pertains to high performance and I work one-on-one with brokers to guide them on how best to manage stress in their business and lives.
Here are a few things you can do:
- Expect at least a few disappointments every year. You will lose deals. You’ll also be surprised by opportunities and sales that come out of nowhere. The deals you lose and the deals that surprise you will balance one another out.
- Understand what you are worth per hour. Outsource the tasks that fall below your hourly rate. Use the extra time you now have to focus on improving your business or yourself. Meal prep, read a book, etc.
- Refer out deals that are not in your wheelhouse. Keep your focus narrow and deep in your area of expertise.
- Practice self-care. Take care of your body with proper sleep, exercise, diet, and mental detox. Focus on your end goals. Review your goals every day, multiple times. Rewire your neural pathways and train your brain to give you the motivation you need to level up.
- Stick to your plan. Professionals that execute a plan daily, weekly, monthly, and yearly experience less stress because they know where they’re going and how they’re going to get there. “Winging it” will cause stress.
- Keep Facebook and Instagram in the proper places. Don’t get caught up in the “pretty and perfect” and don’t forget that everyone is dealing with something. Social media is unavoidable in our business, but you can proactively filter out the negative.
- Meditate. Studies show that those who practice meditation have lower stress levels and rate higher quality of life. Meditation is to the mind what exercise is to the body. It helps us clear out mental toxins and prepares us to fend off the negativity that comes our way.
Stress must be managed proactively, not dealt with as it happens. It’s not easy to do, but it can be mastered. Start by being mindful of what is around you and know that it is your responsibility to understand how your environment affects your body and mind. Creating boundaries will be necessary to reach your goals.
This business isn’t for the weak of heart. If it was easy, there would be more “successful” agents, instead of a top 5% that does 80% of the business.