The real estate industry hasn't been the same since COVID-19 hit America, over two years ago now. The real estate market has shot up and housing inventory is lower than ever. This can be tough as an agent - while business might be booming, the level of busy that agents are may not be sustainable. Not to mention, being a buyer's agent can be downright depressing right now. So how do agents stay sane in 2022?
Take a Break and Have a Plan
We know, it's not what you want to hear or what even seems possible. Maybe that break isn't a week long tropical vacation, maybe it's not even a weekend away to decompress - but be sure to regular breaks in order to avoid burnout. Avoiding burnout is critical when it comes to serving clients well. Agents need to be sharp of mind and able to get creative - not cynical, overworked, and exhausted. In order to stay sane - agents need to take care of themselves, too.
In the hectic market we are in right now, it's more important than ever for agents to work smarter, not harder. This means being efficient, having a clear vision, and executing. Stay one step ahead, however possible. This means being proactive, saying no to what isn't serving your business right now, and always preparing your clients.
Prepare Your Clients
Whether you're working as a buyer's agent or a seller's agent - be sure to prepare your clients. It's easy for things to fall off the rails and tensions to rise if clients feel unprepared and under communicated with.
Right away, prepare your clients to stay sane in the market. Let them know that most homes have multiple offers, sometimes multiple cash offers, and that the vast majority of homes are going above asking price.
Also, don't forget about inventory and be sure to educate clients on this. Both buyers and sellers need to understand how a low inventory impacts the cycle of real estate. Buyers, if they need to buy, may need to adjust some expectations and while this can be frustrating - it's necessary. This doesn't need to cause tension and be a huge stressor for agents though; just be proactive and recognize what is in your sphere of influence and what is not.
Agents can help themselves and their clients stay sane if they keep their wits about them, seek balance, and always stay one step ahead.
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