The Role of Planning in Real Estate
Our economy, our industry, and even our lives are always changing. The same is true in real estate. That’s not a reason to panic. It’s a reason to plan.
Don’t get thrown off by inconsistency, whether from customer to customer or from economic season to economic season. If you spend time talking to realtors who have been in the business for more than a few years, you’ll see that they don’t get thrown off or panicked by variability or unpredictability. Change is inevitable. Seasons come and go. Dry spells may feel like they’ll last forever. High volume seasons can make us think that we’re unstoppable as real estate agents. But change is coming, and that’s okay.
Don’t get thrown off by inconsistency, whether from customer to customer or from economic season to economic season. Just like no 2 houses are the same, no two transactions are the same either. If you spend time talking to real estate agents who have been in the business for more than a few years, you’ll see that they don’t get thrown off or panicked by variability or unpredictability.
Inconsistency is inevitable. In the midst of a thousand details and several teams is the perfect recipe for unpredictability. As you move toward gaining more and more experience in the real estate industry, realize that variabilities and seasons of business will always be changing the details of your job.
This is probably the most obvious area of change we can set our clocks by. Some economic seasons convince anybody they could succeed in the real estate industry. Others weed out those we once thought were born for this. What sets you apart as a real estate agent is not whether you survive these seasons—because by then, it’s too late. What sets you apart as a real estate agent is whether you expect these seasons; whether you expect the unexpected.
Seasons of Life
As you get started in real estate, you’ll likely spend much of your time heavily networking, and this probably means you’ll end up with a handful of customers in similar places in life. So consider this: If 70% of your business in your first five years in real estate is spent working with first-time homebuyers, you’ve basically established a customer base that won’t need your business again for a few years. The season of life of your customers is going to cause seasons to naturally form in your business. So expect this. Be looking for it. And plan accordingly.
There will be times that your personal life and your professional life work together. It just flows. There will be other times that they feel like oil and water. Your personal life is going to bring seasons to your real estate business. Expecting there to be variability in how your personal life and your real estate life intersect and interfere with one another will help you stay on course and keep your head up and your vision clear.
Change is inevitable. Seasons in the economy, in business, and in life come and go. Let that inconsistency be something you expect, plan for, and work with so that you can do something spectacular as a real estate agent.