As the shift becomes more evident, some people start experiencing fear, which is generally driven by uncertainty.
“While it’s true that you cannot control the market and where it is headed, one thing you can control is choosing how to feel about and react to your circumstances. A market shift is the perfect time to start practicing standing guard at the door of your mind and disciplining your fear,” shares Keller Williams Realty Phoenix agent Carin Nguyen.
After 10 in real estate with previous experience in finance and mortgage industries, Nguyen has seen a fair share of market changes and is a big believer in the phrase “Only I can put fear inside myself.” In times of uncertainty, you can stick by fear, or control it by asking yourself three important questions that have the power to radically change your mindset.
As you navigate uncharted market territories, Nguyen encourages you to focus on three decisions that control your everyday thinking and ask yourself these questions:
What am I going to focus on?
In times of struggle, everyone is experiencing the same thing. How you react to the situation is what will separate you from everyone else. There is no question that the market will change, but you are the one who decides what to focus on. You have the option of getting stuck on the declining stock market, but by reassessing your surroundings, you might find that there are some positives worth celebrating. For me, it’s the fact that some people that might have not had the opportunity to become homeowners will now be able to afford a home. Or, the fact that I get to shift gears and work to my full potential without the safety net of a steady market. It’s all about perspective.
How am I going to feel?
Remember, you are in control of how you feel. Instead of allowing panic to settle, this is an opportunity to shift to a mindset of gratitude. Think of this time as beginning a mental fitness regimen, or getting ready to enter the mental Olympics. In preparing for the Olympics, you want to do strength training. In the real world, if you spent one day lifting weights, that would not be enough to define your muscles. Just as in physical training, shifting your mindset takes practice.
Challenge yourself to find gratitude every day. At one point, I spent more than a thousand days posting one daily photo on Facebook of something that made me grateful. Eventually, the habit stuck and I found it easier to adjust my perspective even during dark moments. The other part of training is cardio and endurance. In real estate, this translates to increasing your lead generation activity. Lastly, to prepare for the Olympics, you would have to improve your diet. Improve the information you are feeding your brain by focusing on education during this time. This will increase your confidence greatly.
What am I going to do about it?
Take a moment to think through what adjustments will be required, and embrace the fact that they might be more than a temporary fix. Now is the time to make a change that could very well last beyond the current state. As you begin using Zoom, FaceTime, or other online resources to do showings, can they become a permanent option in your repertoire? Remember, you can always be working toward strategizing further.
Take certainty in the fact that this shift has not been the first and it won’t be the last. The market has seen dark days. It’s survived 9/11 and government shutdowns. But one thing is certain: People have never stopped buying and selling real estate. As you navigate through, focus on the things you can control, furthering your education, and thinking about the big picture. Don’t let fear dictate your actions of tomorrow.
Pivot: Shift Ahead
Real estate is shifting, but Keller Williams has never stopped preparing. Join the experts, like Carin Nguyen, who’ve proved it’s possible to thrive in a shift with a new, daily series of live training on Connect Live.