8 Rules of Thriving During a Market Shift

How to shift your mindset and come out ahead 

To my friends in the real estate industry,

There’s no denying these are uncertain times. It’s only natural that many of us are experiencing anxiety about the future of the industry and our ability to provide. However, now is the time to shift our mindset and focus on coming out of this ahead. 

As a business owner, I’ve had moments of doubt but I find purpose and peace by following a few key principles. I’m sharing them with you today in hopes of starting a conversation, so please take a look and let me know what you would add to my list.

The 8 “Rules” of Thriving During a Market Shift:

Check Your Mindset 

You’ve heard it before: Fear is the enemy. It’s tough, but every day you must tell yourself to focus on finding the positive and not allow negative thinking to consume you. In these trying times, people are attracted to confidence. If you project confidence in all that you do, you’re certain to gain loyalty from others.

Focus on the Opportunity

Say it with me: “What if this is the best thing to happen to my business?” Now repeat it throughout the day. What if this could be your opportunity to gain market share or knock out some projects that have sat on your to-do list? This may be the time to make your processes more efficient or set long-term goals.

Surround Yourself with Strong Partners

Stand together, win together. It’s vital to surround yourself with the people who will help you navigate this shift with confidence. Look for those that are showing leadership in their own organizations and form relationships with them. These are the people that are going to help you elevate your business and crush your goals.

If you work in a team environment, set an example for those you lead. Create a supportive environment, clearly communicate your goals and lead with confidence.

Take Care of Yourself

Don’t abandon your physical and mental health. Stick to your daily routine. Focus on the things that make you feel good and prepared to lead. Wake up, exercise, shower and get dressed for the day – even if you’re working from home. Taking care of yourself is key to keeping momentum during this trying time.

Lean On Your Peers 

Don’t try to navigate this alone. You may be isolated physically, but don’t isolate yourself mentally. This is tough on everyone and now is the time to reach out to your peers to ask how they’re doing. Share your thoughts and work to elevate each other.

Focus On What You CAN Do 

This may be the break we all needed to focus on the projects that will make a big impact but require extra time to tackle. Think of the tasks you’ve been putting off and knock them off your to-do list. Remember that time you’ve been saying you wish you had? It’s here. Use it wisely.

Evolve

Ask yourself: How can I adapt my services to meet the needs of my clients? Focus on meeting the needs of your clients, even if the method is unconventional.

Get Ready to Go Full-Throttle

What can you do now to make sure you’re ready for a market rebound? We’re expecting a combination of pent up demand, low interest rates, and potentially softened prices to lead to a strong rebound. What can you do now to ensure your business is ready for it?

This isn’t the first significant shift in the market and it won’t be the last. Following these principles will be critical to ensuring we stand together and win together. Now tell me: what would you add to this list? 

Brian Marcy

Owner, Grand Home Inspection