Fear may rule the night on Halloween, but don’t panic every time you face a scare. Plunging home sales are adding to the horror of the season for real estate pros who are afraid of a downturn haunting their business. Market shifts, however, are a time to be brave, get educated on the challenges you face and revamp your approach to clients. So, face these five fears to build the courage to confront market uncertainty.
- Fear of a housing crash. The real estate market has been extremely volatile this year, going from an unprecedented homebuying frenzy to a precipitous slowdown. Many who worried a bubble was brewing may believe it’s starting to bust. But these five reasons we aren’t experiencing a housing crash can help calm your clients’ nerves. Even if you, the professional, are on edge, there are ways to break through your fear of a changing market and show buyers and sellers how a pro gets it done.
- Fear of video. Consistent, branded and valuable video content should be the cornerstone of any real estate marketing plan. If you have anxiety about being on camera, you can overcome it. “Video is vulnerable,” says Los Angeles broker Ivan Estrada, adding that negative self-talk is common. Learn how to break down your fear of video and face it head-on.
- Fear of appraisers. Many real estate professionals say they avoid interacting with appraisers, believing that communication with them is illegal or could lead to appraisal bias. But, in fact, there are regulations allowing real estate pros to provide additional property information to appraisers, including a copy of the sales contract. Know what’s allowed next time you deal with an appraiser.
- Fear of failing. Every real estate pro starts to watch their bottom line when the market begins turning. If you’ve built your business on strong foundational principles, you’ll be able to bounce back when you hit bumps in the road. So, how do you make sure your success lasts well into the future? Seasoned pros offer their most valuable advice.
- Fear of being victimized. You know real estate can be a risky business, but you may not always think safety first when you’re out in the field. You should hear why one broker wants to make sure you do. Kitty Wallace, ABR, CRS, managing broker of RE/MAX Integrity in Cle Elum, Wash., recounts her experience with a stalker who had three years of Wallace’s ads in his trunk. Listen to the Drive With NAR podcast.