We've all been there - you're hot for months, listings are pouring in, you have a closing every week, you're getting rave reviews from many satisfied customers...and then, all of a sudden, nothing. The phone is dead. The listings are dwindling. The buyers you thought were about to place their offer decide they're just going to wait a year or so.
It's human nature in these types of situations to blame yourself, and to question if it's something that
you're doing wrong to cause the slump. And you know what? Sometimes it IS you. Don't be afraid to be brutally honest with yourself. Maybe that marketing strategy you've relied upon for years has finally become obsolete. Maybe there's another agent or team in town that's providing better incentives, or has a better follow-up script. But know that sometimes, it ISN'T you. The market tends to fluctuate often, and downtime is experienced by all agents at some point, for a huge variety of reasons. You could be doing everything right, and still have a slow month from time to time!
The most important thing in this case is to reassess, and move forward. Don't internalize the issue, and allow it to bring down your self confidence. Do research on the recent trends in your area. Talk to some of your real estate contacts and ask if they're experiencing a slow time as well. If the dead spot seems localized to you specifically, reevaluate your marketing, referral gathering, and follow up strategies to see where you can make some improvements. Ask a family member or close friend to role play with you and offer their advice or feedback on what your strong points are, and what you could improve upon.
DON'T STAY STAGNANT!! Whatever you do, don't give up! Remember that there are highs and lows in
every business venture, especially the real estate industry. Focus on building relationships with the customers you have, and with other professionals. I know it sounds cliche, but keep moving forward! Try to look at a slower time as an opportunity to hone your skills. Take some classes. Find your niche and market the heck out of yourself. Get out there and knock on some doors. Attend other agents open houses to see what's working for them. Don't be afraid to try something new!
Just keep in mind that in nearly every aspect of life there will be ups and downs. It doesn't mean that you're bad at your job, or that you should give up. Maintain a positive mental attitude, take a step back to evaluate your strengths and weaknesses objectively, and then get out there and make it happen with hard work and determination!
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