Everyone is panicking! Its hysteria...and agents are going crazy. Now, don't get us wrong, we are not here to dismiss the impact. Yes, it definitely has impacted the market.
Transactions are delayed. Deals have been lost. We have had several students tell us about their deals that have gone away. Banks are changing requirements, which is making it difficult for people to qualify.
Also, people are losing their jobs and are hesitant to make any major moves right now. This is REAL. We completely understand.
We like to compare this change like a track and field track. Imagine this track has 5 lanes in it. We call this the transaction track. So now the lanes have gone from 5 lanes, down to 2. So this shrinking of the transaction track is causing a reduction in deals. But, let's look at the 2 open lanes.
Deals are still being done. People still need to move. People are still investing. People still are renting. And lenders, title companies are still making these transactions happen. So the business has not stopped, it has slowed down.
Big difference.
We belong to several WhatsApp chats, we see our students in our private Facebook group, we heard from the agents that participated in our morning routine challenge we did together. And we hear about the deals being closed. We are hearing from vendors (attorneys, title, lenders) telling us how busy they are.
What are you dwelling on? Is it an emotion or a feeling? Panicking/hysteria
What should you focus on instead of this negative feeling? How do you get control back?
Deals are still happening!
Guess what? This market turn is no different than any shift that has ever happened.
Agents are NEVER in control of outcomes. This is no different.
Control what you can control. Specifically consistently prospecting.
Now the conversations may have changed, but NOT the habits of the agents.
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