Staying motivated in a tough market

When you feel like all the cards are stacked against you, it can be hard to find the motivation to keep going.

In a tough market, it's easy to get to a point where you feel like:

Faced with all this negativity, how do you find the strength to stay positive?

Deep down we all know real estate sales is an energy industry. You have to be up for the challenge, and motivated to succeed. It takes serious effort to earn big commission paydays. Nothing comes easy, especially in this kind of market environment.

In this guide, I'll run you through specific steps you can take to fight through the negative noise and keep your business on track. My goal is to show you why this market is actually the best market to work in, and how you can use this opportunity to not just maintain your income, but grow your business and increase it.

Ready? Let's rock and roll.

Step 1. What's your why?

I think I just heard you grunt a little. This topic is so frustrating, right? Everyone wants to talk about 'finding your why' but what if you don't have a good answer? Does that mean you are failing somehow? The answer is no. Your 'why' doesn't have to be some epic flowery affirmation, it just needs to be specific to you. It can be as simple as:

"I want to be financially independent", or "I'm doing this to create a better future for my children" or "I want to be mortgage-free by 50..."

The goal is simply to understand why you are in a job which is both challenging, but extremely rewarding when it goes well. Knowing your why helps you pick yourself up when setbacks inevitably occur.

The gift of real estate is that at any point in time, you can engage in a series of actions (connecting with potential clients) that can generate a huge amount of income in the not-to-distant future (3-9 months). There are few people who can increase their income in a short period of time the way you can in this industry.

Step 2. Avoid negative Nancy's

Negativity is contagious. As the market gets tougher, the negativity will spread throughout your office, and every other agent wants to make you feel the way they do (even if somewhat unintentionally) because if you join them in their negative world, it makes them feel safe and reassured.

It's always tempting to fall into glass-half-full mode. It's easy to be a complainer.

On the other hand, it takes courage to see the bright side and find the opportunity in every situation, but I assure you in the long run, it's way more fun and pays a lot better!

Avoid spending time with negative colleagues, even if it means upsetting some of your friends. Find a positive buddy you can trust and focus on solutions, not problems.

Step 3. Find your mantra

What is the truth about this market that the negative Nancy's aren't seeing? What opportunity have you uncovered that others can't recognise because their downcast mindset is clouding their thinking?

Why is this market better than any other market to work in?

Here are some ideas:

  • The agents who survive this tough market will absolutely thrive when conditions change. The negative Nigels will lose hope and quit the industry, leaving more opportunities for the rest of you when things get easier.
  • Working with one buyer on each listing (rather than 10+ offers) allows you to build relationships and create clients for life.
  • It's rewarding to work in a balanced market where greed is not the dominating emotion.
  • Owners need you and your specific skill set in this market. Without your help, they could sit on the market for an eternity, or get royally screwed over and under-sell their property.
  • You get to be creative in this market. Houses don't just sell themselves anymore. You need to design marketing campaigns that get the phone ringing. A little effort in your adverts goes a long way, and it's so much fun when it works!
  • It's far easier to grow your market share. There are more listings available than we have seen in over a decade. You can build a massive local profile by controlling a large amount of stock, creating a local brand that will allow you to earn a huge income for years.

This is the market where you lay the foundation for future dominance. This is the market where the changing of the guard happens, where you become the go-to local real estate expert.


Liking this guide so far? Become a member today and start growing your real estate business.


Step 4. Set realistic goals

You can't control whether your offers fall over, whether buyers make offers in the first place, or whether tricky owners will see sense and lower their asking price, but you can control your activity.

Numbers can control:

Focus on what you can control. Judge your day and your week by whether you achieve the activity goals you set for yourself. Use a weekly checklist. If you get your activity level right, the sales (and income growth) will come.

Step 5. Ask questions that unlock commissions

Stick this phrase where you can see it every day:

Every single home would sell tomorrow at a certain price.

While we get flustered by consenting issues, title discrepancies, earthquake claims, builders reports and asbestos questions, the only thing that really matters at the end of the day is the price.

Every single listing on the market would sell tomorrow at some price. Now obviously, our job is to maximise the sale price for our owners, but it's important to keep this overarching truth in mind because it helps you avoid getting lost in the noise and it helps you make sales.

When your buyers are complaining about everything that's wrong with a property, ask:

"Bearing all that in mind, what price would this home need to be for you to buy it?"

When owners are complaining about the market, the buyer feedback, or the lack of viewings, ask:

"If we were sitting here today with an unconditional offer, what would you accept?"

Pause and wait for the answer, no matter how long it takes. Use these questions at all your buyer viewings and vendor review meetings and your business will thrive.


Want instant access to all our Agent Advice guides?


Agent Advice guides for this market

If you enjoyed today's guide. Check these out...

Kickstart your prospecting action plan
Use this 2-week prospecting plan to kick-start your marketing and ramp up for a busy end to the year.
Real estate agents: Here’s how to ask for a price reduction (scripts included)
Grab a coffee and a comfy chair. It’s time to tackle one of the toughest parts of selling real estate - asking for price reductions…
How to bounce back when an offer falls over
Ideas to help you deal with the loss, bounce back quickly and get the property sold as soon as possible.
Why this is the best market to work in (and the skills you need to succeed)
While every other agent is floundering, you can stand out from the crowd and grow your business. In this article, I’ll tell you how. This post includes vendor dialogues, advert script ideas and buyer servicing strategies.
Real estate Listing Refresh Checklist (ideas to generate more buyer enquiry)
If you are unsatisfied with the amount of enquiry you are getting on one of your properties, use this checklist to come up with ideas to get things moving.
The step-by-step guide to building a real estate business.
To get established in real estate you have two key jobs: Build a database, and show everyone you are proficient at selling houses.

Lead-generating content for tough markets

Use these feature articles in your email newsletter to educate your clients and generate more sales...

Feature Article 65 - Selling a home with unconsented improvements? Here’s what you need to know
Agent Monday - Real Estate Experts
Feature Article 90 - When to adjust your asking price
Sellers who sold 12 months ago would likely have been ecstatic at the time, selling in a rising market, getting a record price. But now, because the market has gone up and come back down, current sellers feel like they are getting a raw deal, missing out on the peak of the market.
How to negotiate when the building inspector finds an issue
If the building inspector discovers a problem that requires urgent attention, what do you do? Should you try and negotiate the price?