You can experience failure in real estate. Imagine putting so much effort into securing the listing or building trust with the buyer. The next thing you know, the seller lists with another agent, and your potential buyer ends up going in another direction. Failure in real estate is hard to swallow, but it is undoubtedly a part of it.
However, along these challenges that a real estate agent may face is the opportunity to learn, grow, and practice. As an agent, you can overcome failure. Just continue pushing forward because success belongs to those willing to persevere through the challenging times.
Every real estate agent goes through challenges. And because being a real estate agent is a social job, the feeling of isolation can be present at times. When you lose a client or a listing, you might feel stuck in your thoughts, especially if you do not have a team to help you process and remind you that this happens to every realtor.
Remember that it is not just you but every agent who loses clients and listings. It is not about how challenging that situation is, but it is about responding with the right attitude when that happens.
Avoid Catastrophizing and Rumination
When you experience losing a client or listing, the feeling of failure can easily creep into your mind. Your default response is catastrophizing. You may feel like you are never good enough, which will give birth to more and more lies in your head, causing you to feel like a failure. Losing that client is all you can think about. Rumination becomes your new hobby, and that can cripple you.
So if you catch yourself in these mindsets, you have to understand that failure is not final. Learn to let it go and look forward to more significant opportunities ahead.
Everything is Practice
Overcoming failure is all about mindset. You have to keep in mind that every appointment you have and every situation you are in is a practice to become better in the industry. Do your best in each meeting but do not put too much pressure on yourself.
It is ok if you fail to close a deal with a client. It is an opportunity to learn and be better the next time. If you keep that practice mindset, you’ll see every appointment and meeting with less pressure.
Learn from Failure
There’s always something to learn in every situation, regardless of how bad it is. Sometimes, it takes failure to understand what you have to learn. Learn to process how you feel and the situation that you are facing.
Learn to ask yourself the hard questions. Where did I drop the ball? What would have caused me to succeed? How can I be more prepared next time?
Aside from asking these hard questions, you can also ask other people for feedback. Don’t be scared to ask why it didn’t work out, especially your clients. You can ask for their feedback and constructive criticism to improve your next opportunities. Do not take their feedback personally; instead, stay objective and think about how you can improve from a business perspective.
Don’t view failure as the end of your real estate career; instead, use it as a stepping stone towards a better future in your real estate career. You can always bounce back from failures.