You’re showing up, putting in long hours, attending training, making your calls, executing your social strategy, holding open houses—and still, you’re not getting the traction you need.
Sometimes, it’s not about what you’re doing but how you’re doing it.
This market is challenging. Consumers are leery, expectations are unreasonable, and competition is fierce.
I wish I could tell you it’s going to get better soon—and it might. But it also might not. The past three down markets in Canada lasted 5, 11, and 7 years, respectively. We’re just shy of three years into the current cycle. Add to this the dramatic social, economic, environmental, and political changes, and it’s safe to say that waiting for “normal” to return could leave you behind.
You might ask yourself: “Is Suze selling you these skills because she teaches them? Or does she teach negotiation skills because she knows that’s what I need to sell?”
This year marks my 40th in real estate. I sold in Toronto from 1985 to 2008 as a top-producing agent, much of that time in markets like the one we’re in now. Since 2008, I’ve been training agents in negotiation skills and working closely with top-producing REALTORS®.
For example, I helped Mike Majeski grow from 15 to 70 deals in seven years. His productivity has significantly increased during this current down market. I also work closely with 30 other agents producing anywhere from 15 to 100 transactions annually.
I know how to succeed in this market. It is a lived experience for me. Real estate in this environment is complex, and without the skills to deeply understand what others are experiencing, you’ll struggle to earn clients and close deals. It’s not about Communication 101 anymore; it’s about diving deep into the psychology of the people you engage with.
Let’s take an example. Imagine I provide a list of 200 online leads to three agents. One agent has advanced negotiation skills that include communication and psychology, another uses scripts, and the third is untrained. Will their results differ? Absolutely.
Here’s how it plays out:
Agent using scripts: 0-1 appointments.
Untrained agent: 0 appointments.
Agent with advanced negotiation skills: 4-8 appointments.
Now let’s take it a step further. From those appointments, how would each agent perform in the client interview or presentation? (what we call Discovery Sessions at The Nature of Real Estate) Let’s assume four appointments are set: two with sellers and two with buyers, in competition with other agents. Here’s what happens:
Agent using scripts: 1-2 clients secured.
Untrained agent: 0 clients secured.
Agent with advanced negotiation skills: 3-4 clients secured.
This pattern repeats throughout every stage of the real estate transaction. Agents with negotiation skills are consistently getting and closing the business.
There are lots of people teaching you what to do – and that’s good. You do need to do the right things but without the skills to do them well, this market will continue to delude you. Mastering the professional skills in real estate is a lifelong journey. The future belongs to the learner, not the knower.
If you can’t afford to take a course with me or join a mastermind group, start with the book Getting to Yes by Roger Fisher and William Ury from The Harvard Negotiation Project. It’s a foundational resource for building your skills.
This market isn’t going to wait for you to catch up. Equip yourself with the skills that will set you apart and make the difference between just getting by and truly thriving.