Are You Flirting with Burnout?
It’s no secret, the real estate market is on fire. As the economy recovers and people get back to work, it will be like putting rocket fuel on an already roaring fire. Most agents are telling me they are feeling burned out, and the thought of the market getting even crazier has them overwhelmed.
I ran into one of my past students this week and he said his volume so far this year is double what he did in 2020. Last year he did 40 deals. In the first three months of 2021 he already has 20 firm deals on the books. For the record, this is not a team, this is one guy and an assistant. He was tired, but it was a good tired because he was seeing a reward for his efforts.
This brings me to my topic today. Burnout typically arises when we work too hard with no reward at the end. Agents who are working with buyers in this market are working very hard, and 19 times out of 20 they are frustrated with the outcome. They are putting in nights and weekends and after losing out in multiple offers frequently, it feels like they are working for free.
In today’s market, agents are getting maxed out. They have no time off, houses are selling in minutes, agents are running to showings, putting in offers, crossing their fingers, and losing out over and over again. Agents feel like they are on an endless, frustrating cycle of rinse and repeat. They are working incredibly hard and often no paycheck at the end of it. Many agents are getting cranky, tired, anxious, and frustrated. Does that sound like you? If it does, it is time for a wake-up call.
The cost of burnout is high. It can take months to recover (and a huge loss of income) just to feel normal again. You start to avoid your clients because you don’t like people anymore. That is not a place you want to get to as a sales professional. If you are feeling burned out, I have some suggestions for getting back on track.
First things first … recharge your batteries:
If you are feeling overwhelmed and anxious, before you can consider making changes to your business you need to unplug to clear your mind. Book a weekend retreat or a week’s vacation. Go somewhere there is no cell service and don’t take your laptop! Ask another agent to take care of your clients while you’re away. Come up with a payment structure that makes everyone happy and put it in writing. Meet with the agent the day before you leave to review your current client files and any potential issues. Contact all your clients to let them know how long you will be away and introduce them to the agent who is covering their file. If you do this, you can go away stress free and truly unwind.
Step off the hamster wheel:
If you are feeling like you are on a hamster wheel and never getting anywhere, it is time to step off and take a breath. Analyze your business. We can often be busy working on the wrong things with the wrong clients. Continuing to do what you’ve always done and expecting different results is the definition of insanity. Figure out what is working well in your business and what needs to change. Make a list. The first step to fixing a problem is identifying that a problem exists.
Don’t live a never-ending Groundhog Day
If you are already burnt out, or on the verge of it, you know something needs to change. The most successful agents are listing agents. Working with sellers gives you more control over your time. If you are currently working with buyers, use their buyer profiles as a great reason to prospect for listings that meet their criteria. Shifting your business from buyers to sellers takes time, but if you don’t, 2021 is destined to be a never-ending Groundhog Day.
Take back control:
Anxiety arises from feeling like we have too many things coming at us and we are spinning too many plates. We live in constant fear of forgetting something important. I’m a believer in TO DO lists to stay organized. When you write it down, it frees your mind from having to remember a million little details. Every morning, review your list, prioritize what you need to get done by the end of the day, and stroke items off the list as you complete them. It will give you a sense of accomplishment and it will bring a little sanity to the chaos.
Put your health first:
You can’t be productive if you are not in good health. When we get busy, the first thing we let go of is exercise, sleep, and a healthy diet. These often seem like luxuries for people who have more time than we do. Let’s make this simple … you can’t be successful from a hospital bed. Every day you need to make a conscious effort to manage your stress, laugh, eat healthier, get a good night’s sleep, and go for a walk. Trust me, you’ll thank me for it.
For me, the best way to deal with burnout is to be successful. I don’t believe burnout comes from being busy, I believe it comes from spinning our wheels and not accomplishing what we want. This business will devour you if you let it. Set your priorities. Organize your days. Choose your clients carefully. But above all else, take care of your health. You can’t look after others if you don’t look after yourself.
If you want to learn more about how to have better time management in 2021, check out https://leadersedgetraining.com/virtual-training.
Chris Leader
President
Leader’s Edge Training