Weird Market Cycles and Hanging In There
I’ve always marveled at the collective mindset of buyers.
There are typical market cycles that happen in a year – the first part of the year has the most price appreciation, things shift a bit in June as kids get out of school and summer starts, August can be slow with everyone out on vacation and the Fall sees another push of market activity.
But within these cycles are sub cycles.
There seems to be a collective mindset with Buyers where during these cycles the market will go dry for a few weeks. No one is writing offers on anything. And then with the flip of a switch, buyers decide it’s time to buy and everything sells.
Sometimes the news affects it, interest rates or world events, but just as often there doesn’t seem to be any notable reason. It’s like there is a mass email that goes out to buyers that says buy now, or wait a few weeks. No one knows where it comes from and when it will happen.
When the market is in one of these weird pause cycles it can be stressful as an agent. It can feel like nothing is working and your trusted tools are failing you.
And in that moment, you have to decide – do you keep showing up, or start to drift?
It’s tempting to drift. To think you’ve lost your mojo.
But it’s not you, it’s the market. And if you drift you might miss the shift when buyers re-engage.
Hang in there.
Use the pause to connect with others. Go to lunch, have some fun. But whatever you do – don’t commiserate with other agents about how slow the market is. It’s the first step to putting your mindset into a tailspin.
Hang in there. You’ve got this.
To your success!
Nicole
Signup to receive Nicole's blog posts via email weekly:
Other Posts
The Real Reason We Started Experiences vs Stuff for the Holidays
We’ve been doing experiences vs stuff with the boys for years. This year we are in Palm Springs loving the sunshine. It’s a tradition we all look forward to. We’ve gone all sorts of places: Maui, Boston, New York, Costa Rica, and Ireland just to name a few. On the last night, we pick a…
Read More
Action Plan vs Business Plan
Is it just me, or does business planning overwhelm you? I’ve tried doing a traditional plan over the years. One where you: Set an income goal Figure out your average price point and income Use that to calculate the number of sales required Break it down to how many referrals to convert to appointments to…
Read More
A Common Misconception About Mindset and Energy Work…
It doesn’t mean you’re happy all the time. Pretending that ‘it’s all good’ when it’s not isn’t helpful. I’ve been doing a lot of teaching around this in my masterminds lately, and it really hit home for a lot of people this week. Emotions are meant to be felt – all of them. They are…
Read More
The #1 Question Agents Don’t Ask, But Should
If I told you one question could lead to happier clients, and more sleep for you would you add it to your conversations? I’ve coached hundreds of agents, and every time I bring up this one question it ends up in a blank stare followed by – I never thought to ask that. Ready for…
Read More
If You’re Afraid To Take A Vacation Because You’ll Lose Clients – Read This
You’re ready for a vacation, but there’s a voice in your head telling you now is not the time. You have clients that might need help. Or, you don’t have any clients and can’t risk being gone when they finally call. You’re afraid that if they even get a hint that you are somewhere else…
Read More
Your Business Is Meant To Support Your Life Not BE Your Life
Here’s what most agents think when they get into real estate: This is going to be amazing! I now have unlimited income potential, the ability to set my own hours, and live a great life. And then one of two things usually happens: You either get busy and push off life until things calm down…
Read More
Announcing The Prosper Mastermind: The Secret to A Profitable Business and An Amazing Life
It’s been a heck of a year. You’re proud of yourself for having made it this far. You’ve got lots to celebrate, but if you’re being honest, there are some things that need to change if you’re going to keep doing real estate going forward. Maybe its: Income consistency – The feast / famine thing…
Read More
Expand Your Window of Opportunity
Crisp mornings, pumpkin spice lates, leaves that change to vibrant hues of gold and orange – and a clock that seems to tick louder by the day when it comes to income goals for 2024. Welcome to Fall. In the past, I would get really anxious right about now. I would look at the calendar…
Read More
A Message From Your Future Self
There is a future you who is glad you never gave up. Keep going! Things may not be as dire as wanting to give up, but September can bring a sense of urgency in real estate. You look at the calendar and realize there is only so much time to make close transaction before the…
Read More
It’s Okay To Opt Out Of The Conversation
It’s been 2 weeks since the NAR settlement. How’s it going? Scratch that – don’t answer that. Better yet, don’t ask the question in the first place. Yes, there have been major changes in our industry. The impact to our business, depends on who you ask. I’ve talked to agents who: Can’t get Sellers to…
Read More