– The old way of doing business is over, and it’s time to conquer market challenges and prepare for future opportunities.
– The year 2023 has been filled with scandals, lawsuits, settlements, and bad sentiment in the industry.
– Being uncomfortable can lead to growth and change in your business and life.
– Auditing current systems and adapting to consumer sentiment is important for efficiency.
– Unwillingness to change and adapt is a significant barrier to moving forward.
– Patience is necessary when things don’t go as planned, and researching solutions is important.
– Reflecting on and addressing anger can help handle it better in the future.
– Visualizing wins and tracking them can boost morale and provide motivation.
– Accepting that not everyone will accept your offerings and focusing on where energy is best received.
– Embracing different perspectives and working together with people who have different opinions.
– Taking accountability for mistakes and learning from them is crucial.
– Clear communication and setting expectations can save time and prevent misunderstandings.
– Diversity, equity, and inclusion should be taken seriously and embraced.
– Reading banned books regularly can create empathy and broaden perspective.
– Supporting local non-profits can be beneficial for both business and personal growth.
– Getting involved in associations and organizations can bring about the desired change.
– Prioritizing family and friends and giving time to them is important.
– Taking up space and believing in oneself is necessary, regardless of part-time involvement.
– Not comparing oneself to others and focusing on what is right for one’s own life.
– Documenting everything is important for future reference.
– Taking care of physical health and helping others can lead to personal growth and referrals.
– Speaking up against wrong and bad leadership is necessary for fixing problems.
– Analyzing and understanding pain points in the worst transaction helps in preparing for future challenges.
– Prioritizing personal safety and being aware of surroundings and company.
– Setting expectations in all relationships, including work, home, and friendships, is crucial for clarity.
– Reflecting on what is important in life and how it impacts one’s well-being.
– Taking things one step at a time and breaking down challenges into manageable parts.
The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.
And with that, the 2023 season comes to an end. Friends, if this year has left you more upside down than right side up, you are not alone. Scandals, lawsuits, settlements and bad sentiment seem to be swirling like an ill-gotten snowstorm in our industry.
Chances are three ghosts from our pasts will not visit us and tell us what we did wrong and what we need to do next. Here are a few pep talks, lessons learned and maybe a little cheer to warm your cold hearts before the new year.
1. Being uncomfortable will create growth
Low inventory, high rates and mounting legal issues leave many uncomfortable and unhappy; you will have to grow and change your current methods to step outside of that comfort zone. Getting uncomfortable can sometimes lead to significant change and a new chapter in your business and life.
2. Consider new systems
Now is a great time to audit your current systems to see if they can be improved for efficiency and to match consumer sentiment. Your audience changes all the time. Choose systems that adapt to you.
3. Get out of your way and lean into your personal strengths
The biggest lesson we can all learn from this year is that your unwillingness to change and adapt will be the most significant barrier to moving forward. Do yourself a favor, and get out of your own way.
4. Gift yourself patience
Frustrated that things do not look the way you want? You are not alone. Be patient, and start researching solutions. The answers you need are out there. You need to be quiet enough to hear them.
5. Hold up your anger in the mirror
Why are you so angry? I’ve lost my cool more than a few times this year, and I’m sure you have, too. No need to be perfect, but when I’m riled up, I try to hold up that anger and ask myself what is going on and why I reacted that way. I also try to visualize how to handle it the next time, hoping that I can be less reactive.
6. Make a win board or folder
It’s more important than ever to visualize the wins. Take a screenshot, hold on to the thank you cards, or even take a moment to write a win on an index card. Start tracking these and keep these reminders close by to reference often. It’s also beneficial to see how the good stacks up against the negative.
7. You cannot make every horse drink
It’s a worn-out statement, but it couldn’t be more accurate. No matter how often you lead folks to what they need, they will not accept it until they are ready. Make peace with that, and spend appropriate time and energy where it’s best received.
8. You will not be everyone’s cup of tea
I’m pretty sure I make some folks choke on their tea when they read some of my topics. It’s OK. I’m not your cup of tea, and you are probably not mine, but there is no reason we can’t sit at the life table together and have a good conversation with different perspectives. The same person can be a villain to some and a hero to others. Let’s embrace that part of humanity when we are working together.
9. Own up to your mistakes
I’ve made many. Learning how to have those conversations after the mistake is a true art. Learning to talk about what makes you uncomfortable and taking accountability for the harm or collateral damage you have caused (intentionally or unintentionally) is a skill you need to practice, just like prospecting. This skill will change your life and the way you do business.
10. Don’t expect those around you to be mind readers
If 2023 has taught us anything, we must say what we mean and mean what we say. Don’t leave anything up for interpretation. Everyone is crazy busy. Clear communication will save your sanity. If you need help, ask for it. If you need something back in a particular timeline, set it. Get specific. Put everything on the calendar with reminders. Create a fail-proof system of expectations.
11. Treat diversity, equity and inclusion seriously
Don’t let your privilege fool you into believing these issues are not serious problems. DEI benefits everyone and harms no one.
12. Read banned books regularly to keep your perspective in check.
It creates empathy, which we all need.
13. Find a local non-profit in your area, and adopt it as a primary focus in your business
Giving back is good for you and your business.
14. If you want change in your local, state or national association, you must get involved
You can’t just be appalled. The folks who sneak into those positions often run unopposed because everyone is too busy to devote the extra hours.
15. Be careful what or who you give your time to
When in doubt, give it to your family and friends first because they are the reason we are working so hard to begin with.
16. Don’t be afraid to take up space
Even if you are in this part-time, you are worthy of being here if you want to be here. You have to start somewhere.
17. Stop looking at things as absolutes
We are human, and humans absolutely make mistakes. You are most likely doing better than you think. Just stop comparing yourself to others. What is right for you? What is right for your life? Go from there.
18. Document everything
You never know when you will need it. Write it down, take screenshots, keep your calendars.
19. Move your body, so you can keep moving your body
It doesn’t matter how you do it; your future self will thank you.
They may be the best referral source. Challenge yourself to help the people who need it the most.
21. Don’t be afraid to speak up if you know something is wrong, especially if it involves bad leadership
We cannot fix the problems by looking the other way.
22. Take a look at all parts of your worst transaction this year
Break it down. Figure out the pain points, and put them back together. This will help prepare you for the next challenge ahead.
You can move forward. It’s OK to ask for solutions and bypass the insincere “I’m sorry.” This is especially important when it comes to your own personal safety. You need to focus on your health, safety and well-being. Don’t forget for a second that there are folks out there with bad intentions. They might even be someone you know. Be aware of your surroundings and who you keep company with.
24. In every relationship you have, set expectations
Be it at work, at home or in your friendships, determine what you expect and what people can expect from you. If you need to, try this simple exercise to round this concept up. Create two columns. The first is what you need or expect; the second is what they can expect to get from you. This exercise is a great way to clarify what you want and how to get it.
This list is personal, and it’s not going to resonate with all of you, but I hope it will at least get the wheels turning for what is important to you. Getting a handle on business planning in uncertain times requires reflection on all parts of your life. Because what is the point of all of this if it doesn’t impact your life in a good way?
The holidays are rough for many folks. Period. Combined with difficult economic circumstances, all the energy and hope a new year should usher in may instead leave you feeling overwhelmed.
How do we eat this elephant? One bite at a time. I don’t have all the answers, but I am willing to continue to work on the problems at hand that my customers have and maintain the motivation to try to be my best self while doing so.
You have to have a mission in this work. You must know why you want to do this, especially in times like this. I appreciate all the kind messages I have received this year on the difficult issues we tackled together on this platform.
I want you to know that I will continue challenging myself to work on the issues that will help us learn and grow together. I’m so proud of the conversations, perspectives and debates we have here.
Your voice matters, and the work that you do counts. Buckle up friends — 2024 will be a ride I’m sure we won’t soon forget.
Rachael Hite is a former agent, a business development specialist, fair housing advocate, copy editor, and is currently perfecting her long game selling homes in a retirement community in Northern Virginia. You can connect with her about life, marketing, and business on Instagram.
Property Chomp's Take:
excited to share some insights and pep talks to help you navigate the challenges of the real estate industry and prepare for a successful future. As we reflect on the tumultuous year of 2023, it's clear that the old way of doing business is over. Scandals, lawsuits, and a general sense of negativity have left many feeling upside down. But fear not, there are ways to rise above and defy the market.
1. Embrace Discomfort for Growth: The current market conditions may be uncomfortable and unsettling, but this is an opportunity for growth. Stepping outside of your comfort zone and changing your methods can lead to significant change and a new chapter in your business and life.
2. Audit Your Systems: Now is the perfect time to assess your current systems and see if they can be improved for efficiency and to match the evolving consumer sentiment. Your audience is constantly changing, so choose systems that can adapt to your needs.
3. Embrace Your Strengths: One of the biggest lessons from this year is that being unwilling to change and adapt will hinder your progress. Get out of your own way and lean into your personal strengths. Embrace the changes that need to be made to move forward.
4. Practice Patience: Frustration is common when things don't go as planned. Be patient with yourself and start researching solutions. The answers you need are out there, but you need to be quiet enough to hear them.
5. Reflect on Your Anger: It's natural to feel anger and frustration, but it's important to reflect on why you react that way. Hold up your anger in the mirror and ask yourself what is going on. Visualize how to handle it differently next time, aiming to be less reactive.
6. Celebrate Your Wins: In a challenging year, it's crucial to visualize and celebrate your wins. Keep a record of positive moments, whether it's a thank you card or a screenshot of a successful transaction. Having reminders of your accomplishments can help counterbalance the negative experiences.
7. Accept That You Can't Change Everyone: No matter how much you try to guide others, they won't accept it until they're ready. Make peace with this truth and focus your time and energy where it's best received.
8. Embrace Differences: Not everyone will agree with you or see things the same way. Accept that you won't be everyone's cup of tea, but that doesn't mean you can't have productive conversations and work together. Embrace the diversity of perspectives and find common ground.
9. Own Up to Your Mistakes: Mistakes happen, but it's important to have conversations about them and take accountability for any harm caused. Learning to talk about and learn from your mistakes is a skill that can improve your business and personal life.
10. Communicate Clearly: Clear communication is crucial, especially in a busy and fast-paced industry. Don't leave anything up for interpretation and set clear expectations. Ask for help when needed and create a fail-proof system of expectations.
11. Prioritize Diversity, Equity, and Inclusion: These issues are serious problems that must be addressed. Don't let privilege blind you to their importance. Embrace diversity, equity, and inclusion as they benefit everyone and harm no one.
12. Broaden Your Perspective: Regularly reading banned books can challenge your perspective and create empathy. This is an essential quality that we all need to cultivate.
13. Give Back to Your Community: Find a local non-profit organization and adopt it as a primary focus in your business. Giving back not only helps others but also benefits your business.
14. Get Involved in Associations: If you want to see change in your industry associations, you must get involved. Don't just be appalled by the problems; take action and commit the necessary time to make a difference.
15. Prioritize Your Loved Ones: When in doubt, give your time to your family and friends. They are the reason you work hard, and they deserve your attention and care.
16. Claim Your Space: Don't be afraid to take up space and pursue your goals, even if you're starting part-time. You are worthy of being here, and you have to start somewhere.
17. Avoid Absolute Thinking: Humans make mistakes, and comparing yourself to others will only hinder your progress. Focus on what is right for you and your life, and go from there.
18. Document Everything: Keep a record of important information, whether it's through writing, screenshots, or calendars. You never know when you'll need it in the future.
19. Prioritize Physical Well-being: Take care of your body so that you can continue to thrive. Challenge yourself to help those in need and recognize the impact it can have on your own well-being.
20. Speak Up Against Bad Leadership: If you witness bad leadership or wrongdoing, don't be afraid to speak up. We can't fix problems by looking the other way.
21. Analyze Your Worst Transaction: Take the time to break down your worst transaction of the year and identify the pain points. This analysis will help you prepare for future challenges and find solutions.
22. Prioritize Personal Safety: Be aware of your surroundings and the people you associate with. Focus on your health, safety, and well-being, and don't forget that there are individuals with bad intentions.
23. Set Expectations in Relationships: Whether it's in work, home, or friendships, set clear expectations for yourself and others. Create a two-column exercise to clarify what you need and what others can expect from you.
In conclusion, the old way of doing business is over, and it's time to adapt and embrace change. The real estate industry has faced numerous challenges, but by following these pep talks and lessons learned, you can overcome obstacles and bet big on your future. Reflect on what is important to you, prioritize your well-being, and remember that you are capable of achieving greatness. The new year is an opportunity for growth and success, so let's conquer the market challenges together and prepare for tomorrow's opportunities.