Handling stress in real estate
It’s hardly news to anyone in this industry that real estate is classed as a stressful career. It’s a job where people depend on you for a positive outcome, both financially and emotionally and where the hours can be long, the workload can be lonely, the competition fierce and the time pressure intense.
Real estate can of course also be incredibly rewarding. Agents are privileged to work with people at a seminal moment in their lives, can help them achieve their dreams and make a very real difference in their future.
In the process an agent reaps the rewards of setting and achieving personal goals, and can build a life for themselves and their family that’s financially secure and comfortable.
But like all things it’s about balance. So, here are four tips for handling the stress of real estate gathered from our growing network of agents.
Why so stressful?
In 2010, a US study of 200 professions ranked real estate number 10 on the list in terms of stress.
They noted: “Real estate agents and brokers work long, erratic hours, spending much of their time showing properties to clients. They must be extremely independent, and able to handle sales quotas and deadline pressures.”
That put real estate agents in a top 10 list of potentially stressful careers which also included firefighters, commercial airline pilots, surgeons, advertising account executives and even police officers.
Again, that probably comes as little surprise to the agents diligently working in this sector, but it does beg the question how do you go about handling that stress?
Tip 1 – It’s about balance
There are numerous stages in any real estate career when the job can feel all-consuming – whether you’re starting out, stepping out on your own or simply negotiating a tricky property transaction.
While any of these stages should command your attention, don’t forget it needs to be about balance.
It cannot come at the expense of good diet, a day off, down time, exercise and reward.
Do make set times to step away from your computer, to shut down your phone and walk away from the responsibility of real estate. For some agents that involves setting a firm routine, for others it’s about spending time with the family which their real estate career is designed to support.
Either way, balance is critical.
Tip 2 – Run your own race
For every top ranked agent taking to the stage at AREC, there are highly successful agents behind the scenes who are running their own race. They’re clear on their personal goals, their business ideals and what their career needs to achieve for them.
Real estate by nature can be competitive, but it’s your race that should matter most to you. Be honest and have clarity about what you’re personally hoping to achieve – is it work-life balance, financial security for your family, or to be the top agent in your suburb?
Then seek the assistance insight and support you need to get there.
Tip 3 – Have a support network
A support network is critical both for your personal wellbeing and also your professional development. Surround yourself with the people you aspire to be like, and seek insight from those willing to give their time.
One great thing about this industry is that there are many mentors who will share their time and their valuable knowledge to help you get where you want to go.
Tip 4 – Use technology to assist
Technology is disrupting real estate but it’s also a valuable tool for assisting agents do their job more efficiently. It can save you man hours, cut down on repetitive tasks and also allow you to focus more on money-producing activities that require the human touch.
The trick of implementing technology is finding the tried and tested tools that will serve your business aims best.
How Eview can assist
At Eview we’re a little bit different. We pride ourselves on allowing agents to retain their independence with their own brand, while supporting them behind the scenes.
We have a team of dedicated support staff handling administration areas like accounts, bookkeeping, reception, and technology, while you focus on the core business of selling or growing a rent roll.
We utilise state-of-the art technology which we draw upon as a group. We’re available to assist with any questions you may have or issues you face, but we’re also here to give you freedom to run your business your way and achieve the career and lifestyle you want.
Our role is to help you maintain that elusive work/life balance while assisting you to achieve your career dreams.
Looking to learn more about the Eview difference? Contact 1300 438 439.