Handling Rejection as a Real Estate Agent

[mashshare]

No one likes being rejected, but it’s a part of life. Rejection might stir up childhood feelings from when you weren’t asked to play on a team or were picked last. It didn’t feel good as a kid, and it doesn’t feel good now that you’re a professional. The real question is, how can we turn feelings of rejection into something positive and empowering to boost your level of success?

“Luckily for you, CORE Member, we’ve produced a list of how you can handle rejection as a Real Estate Agent. Remember, that while the first step is completing any of these amazing courses, the second and possibly more important step is taking action even if it’s imperfect action.

The fact that each day is different is one of the best things about being a real estate agent. Agents meet new people, go to new places, and adapt to the changing needs of buyers and sellers, which often means changing gears at the last minute. Even though there is no typical day for a real estate agent, most of them do the same things every day.

Agents in real estate help people buy, sell, and rent homes, land, and other kinds of property. Since there is no national real estate license, agents must meet the licensing requirements of their own state. Depending on the state, agents-to-be must take a pre-licensing course from an accredited real estate school, take and pass their state exam, activate their license, and join a real estate brokerage.

The last part is crucial. Agents must work for and be supervised by a licensed broker. The broker makes sure that all the agents in the office follow the laws and rules about real estate. Some agents go on to become brokers, which requires them to get more education and work experience. Brokers usually have more duties, can work on their own, and can hire agents to work for them.

What is a real estate agent?

People often use the words “Realtor,” “real estate agent,” and “broker” interchangeably, but these words mean different things. There are different licenses for agents and brokers, and only brokers can work on their own. Still, both agents and brokers can call themselves Realtors, but to do so, they must be active members of the National Association of Realtors (NAR). Realtors are members of the NAR and follow its strict Code of Ethics. This is the main difference between a Realtor and an agent or broker.

Real Estate Agent Administrative Duties

So, what does a day in the life of a real estate agent look like? Agents have to do a lot of different things every day, from finding leads and marketing to holding open houses and closing deals. Still, many agents spend the first part of the day catching up on paperwork, so they might:

Answer text messages, emails, and phone calls
Deal with documents, agreements, and lease records for real estate
Plan meetings, showings, open houses, and appointments.
Make and hand out flyers, newsletters, listings, and other advertising materials.
Make budgets for operations that happen monthly, quarterly, and annually.
Develop marketing plans for listings
Update client databases
Research listings to make Comparative Market Analysis (CMA) reports.
Make changes to websites and social media accounts

Administrative tasks can take a lot of time, so many agents hire an assistant to take care of these day-to-day tasks. This lets the agent make better use of their time and, in the end, be more productive.

Real Estate Lead Generation

There would be no transactions and no commissions if there were no buyers and sellers. A big part of an agent’s job is to find clients. A real estate sphere of influence (SOI) strategy is one way to meet new people. This strategy focuses on getting leads from people the agent already knows. This can include family, friends, neighbors, classmates, people you work with, and people you know through other activities.

Most people buy, sell, or rent property at some point in their lives. This means that everyone an agent meets is a potential client. A real estate agent’s day usually involves meeting a lot of people, giving out business cards, and keeping track of contact information for a growing network.

After that first contact, agents follow up with phone calls, emails, snail mail, or text messages to keep their name in the minds of potential clients. Agents divide their time between administrative tasks and activities that bring in money. Agents usually spend most of their time at the office, meet with clients, show homes, and negotiate on their clients’ behalf. Still, most agents have a long list of different tasks and responsibilities to do every day, which can change with little or no notice. Because of this, there may not be a typical day for a real estate agent. This is something that many real estate agents like about their jobs.

As a realtor, you’ll go through many ups and downs as part of the job. There will be times when everything goes as expected. You’re getting clients, deals are closing quickly, and there are more potential listings available to you than you can count. However, there are times when you may wonder what you’re doing with your life. You’re having trouble finding listings, and you’re nowhere near generating leads.

Worst of all, the clients you already know have just delivered the worst news a client can deliver, they’ve decided to go with someone else. This can be particularly painful for real estate agents. It’s even more difficult if the client is a friend, someone who promised they would be there for you when it came time to buy or sell their home. It’s okay if not all of your plans work out. The stress of being a real estate agent can be overwhelming at times, leaving you exhausted and discouraged.

Why Might a Client Turn You Down?

There are a variety of reasons why a client might reject you or your proposal. The following are a few of the most common:

Not responding to your client’s inquiries in a timely manner
Not keeping up with current market trends
Being overbearing
Communication difficulties
You are not paying attention to your client’s concerns.

Fortunately, there are a number of things you can do to better yourself and handle your clients with more ease and professionalism. We’ve included some suggestions for things to think about below.

Don’t Take It Personally

We think one of the biggest mistakes we make, after being rejected, is that we take it personally. Stop taking it personally! You’re going to face rejection repeatedly throughout your career so now is the time to learn how to cope with it. We can formulate new ways of thinking to overcome rejection and, instead of taking it personally, look at it as a means of bettering ourselves and moving towards success.

Let’s say you’ve been talking to homeowners about selling their home and suddenly you receive a text message saying they are going with a different agent. You start to think “why me?”, “what did I do wrong?”, “how many more times is this going to happen?”. These responses expose our vulnerabilities. Change your thinking by coming up with a constructive way to handle the rejection and move forward:

Taking it personally: “What did I do wrong?”

Coming up with a positive solution: “What can I do to overcome this and prepare myself to be stronger and more knowledgeable the next time around?”

If a client chooses another agent over you, don’t take it personally. Rather than reacting with rage, express gratitude and move on. Make a follow-up call to learn more from the client and why they chose another agent. Maybe the agent they chose knew more about the neighborhood the family’s seeking.

Whatever the case may be, don’t take it personally. Once you understand how to better align with their needs, you’ll have a better chance of finding a more suitable client.

Be prepared to overcome this rejection in the future by learning more about the neighborhood, creating a video illustrating the benefits of living there, and then share the video on social media and with future clients. Rejection will never stop happening, but you can avoid taking it personally, learn from it and recognize that there will always be other opportunities. If you handle the situation professionally and confidently, you will appear more professional and open up more doors in the future.

Change Your Reaction

It’s also important to think about how you respond to rejection verbally. Do you find yourself becoming defensive? Angry? Aggressive? Quiet? Recognize how you react to rejection and what goes through your mind. Every interaction is influenced by your thoughts, so take the time to learn the most effective ways to respond to rejection and your prospects so you can project yourself professionally.

Your response to a situation can influence your ability to receive future referrals. When a client says they don’t want to renew their contract after the listing expires, instead of getting upset, show compassion and understanding. Make no assumptions about why they aren’t renewing. Ask calm questions about what led them to their decision so that you can learn from it. It could be about something much bigger than you, such as the recent death of a family member. Respond calmly and professionally to leave a positive impression on the customer. This will increase the likelihood of them recommending you to others, potentially leading to future referrals.

Ineffective reaction: Angry, jumping to conclusions

Effective reaction: Calm, seeking answers to improve performance

It can be devastating to learn that your client is going with someone else. Disappointed, angry, upset, and frustrated feelings are common. And if the client was someone you considered more than just an acquaintance, those feelings will be amplified even more. As a result, it’s critical to take a moment after hearing the news to allow yourself to feel these emotions privately.

Responding to this person via text or phone call without first allowing the emotions to subside can lead to complications. You risk being perceived as not only an unprofessional realtor who didn’t have the client’s best interests at heart to begin with, but also as someone who is no longer regarded as a friend. Allow yourself some time to process the news before reacting.

When dealing with rejection, your physical reaction can make a difference. Are your arms crossed across your chest when a client says they’re thinking about taking their house off the market? Do you clench your teeth? Do you have your back to them? Your body language can influence the outcome of a conversation in a negative way. When dealing with face-to-face rejection, try to maintain a relaxed posture. You can help put the client at ease by remaining calm and physically relaxed, reducing the chances of a negative impression and possible rejection.

Keep your physical self-relaxed: soft facial expression, head held steady, arms at your sides (or in hands in your lap if seated – not clasped), feet hip-width apart with weight balanced evenly (if seated, lean back in your chair).

Visualize

Visualize how you want the encounter to go before making a phone call or going into a meeting. You can use visualization to create positive scenarios in your head that will help you avoid rejection before it happens. Whether you realize it or not, your mind is incapable of distinguishing between what you’ve imagined and what is real. Imagine visualizing a successful meeting with a client and then discovering at the end of the meeting that everything went exactly as planned.

That is visualization‘s power of visualization! It assists you in reprogramming your mind to achieve your goals (think Olympic athletes). When you’re faced with rejection, take some time to visualize how you’ll overcome it so you can do it again. Visualize yourself overcoming obstacles and rejection, and your next meeting will almost certainly be a success.

While it may appear cliched, it is effective. You get better results when you set goals and work toward improving yourself. Visualize the things you want and set goals to help you get there. Keep track of your objectives along the way, and make sure you’re doing everything you can to achieve success. Consider visualizing yourself performing well in your client meeting. Visualization aids in success practice. When you visualize yourself performing well in a meeting, your mind is trained to repeat those steps in real life.

Change Your Energy

Before meeting with a prospect or client, do whatever it takes to generate positive energy and change your physical state. To boost your energy, jump around or clap your hands loudly. You’ll have a better chance of walking away with a signed agreement if you go into a listing presentation with high energy and confidence that you’ll get the listing contract.

Don’t let the fact that you lost a contract ruin the rest of your day. Recalibrating your physical energy and pushing through to the next appointment or phone call can turn your day around.

It’s time to respond to the client and acknowledge what they’ve just told you after you’ve taken a moment to collect your thoughts. This is a crucial moment because if you say something that could be misinterpreted as rude or an overreaction, there could be serious consequences. Even though you have every right to feel the way you do, you don’t want to be the real estate agent who is known for being overly sensitive. Here are some things you can say when you write that response or return the call:

“Thank you for informing me. While I would have preferred to be your agent, I respect your choice to work with so-and-so.”

“Of course, I’m disappointed that I won’t be able to work with you, but I understand how difficult it must be for you to make this decision.” I appreciate you giving me the opportunity, and I wish you the best of luck.”

“Thank you so much for taking the time to inform me about this! I’m sorry I won’t be your agent, but I wish you luck on your journey!”

Even if the client is someone you know, you must maintain a professional demeanor, which you and they should both understand. So don’t worry about being too formal, especially if you want to keep the relationship.

Role Playing

Role-playing with colleagues or friends can help you overcome rejection. You’ll build an arsenal of practiced responses as you role play the various scenarios, which will help you overcome client rejections. Practiced responses will keep you in control of the conversation and reduce the chances of losing a deal, whether you’re on the phone with a lead or giving a listing presentation to a potential seller.

Repeatedly practicing responses and scenarios will help you handle them with confidence, and you’ll develop a thicker skin when it comes to rejection.

You’ll start to develop predictable ways to handle situations and attract clients as you discover strategies that work for you. You will learn to handle rejection with ease if you visualize how, you will handle it before it occurs. Role playing can help you achieve success and overcome rejection.

Massive Objectives

Set big goals for yourself and get excited about them. Consider what you’d like to have as you advance in your career. A lavish residence? A pricey automobile? Do you have money to donate to a good cause? Is there enough money to raise a family? Travel? Once you’ve figured out what motivates you, post them somewhere you’ll see them frequently throughout the day, such as on your bathroom mirror, keychain, or computer monitor. Writing down your goals increases your chances of achieving them.

Small goals, such as acquiring five new sellers at your next open house, are important and worthwhile, but setting massive goals will yield massive results. Make 50-100 calls to leads in a single sitting, for example. You’ll find yourself getting into a rhythm, perfecting your phone skills, and handling rejection with ease if you call a large number of leads. Set big goals for yourself, work on them every day, and keep going until you achieve them. This type of goal setting will catapult you into a new level of success, making rejection seem insignificant.

For example, here’s your Massive goals: 100 lead calls today; $500,000 increase in earnings over the next 6-8 months

Listening and Communicating with Customers

We can’t emphasize this enough: the best way to avoid rejection is to begin paying attention to your client’s needs. Know exactly what they’re looking for and match your services to their requirements. Clients frequently complain that agents do not listen to and understand their concerns, and do not work to find solutions. That is why it is critical to understand exactly what your client desires.

If you’re not sure what they’re talking about, ask them to repeat themselves and clarify what they need. Listening to your potential client is the best way to please them. Communication is also crucial because it aids you in navigating your way towards achieving what they are looking for. Miscommunication can result from a lack of communication, affecting your performance and potentially costing you the client.

Are you getting rejected because of your poor listening skills? We can get so caught up in getting the contract or closing the sale that we forget to listen to our clients. It will be much easier for them to trust you if you practice patience, acknowledge client concerns, and then offer solutions. As you listen, repeat their concern while offering a solution. When people feel heard, they are more open to your suggestions and are less likely to dismiss you and your efforts. Consider the following scenario:

“I understand your apprehension about strangers entering your home during open houses. I’ve had other clients with similar concerns, and we’ve discovered that the best way to deal with it is to…..”.

You can use something in common with the prospect to build rapport if you can find it. Perhaps you discovered that your client enjoys vintage cars, which is something you enjoy as well. Use this topic to start a conversation and have some fun. Then you can move on to the next step, such as signing a listing agreement. It will be easier to build rapport with prospects if you share hobbies or other interests.

Presentation Techniques

To be the most effective real estate agent, work on improving your presentation skills whether you’re on the phone or in front of a prospect. Regularly evaluate your performance and solicit feedback from other agents and friends. The more assured you are in your presentation, the more likely you are to get what you want out of the meeting. When it comes to converting leads into sales, your confidence, willingness to help, and professional knowledge will get you far.

Perhaps your goal for this afternoon is to call five expired listings in the hopes of setting up appointments with the owners. Take notes on each call, noting any resistance from the person you’re speaking with and any positive reactions to what you’re saying.

Assume the first three calls resulted in rejection and the last two in appointments. Reread your notes to see where you can make improvements and which questions yielded the best results. Here are a few possibilities:

The prospects seemed turned off when you came on strong at the start of the call, mentioning how you could sell their home based on your credentials. When you mentioned credentials later in the conversation, prospects became more engaged.

The last two calls, which resulted in appointments, made you feel more relaxed and confident. You decide to role play before making phone calls so you’ll be calm and confident when you do.

The more open-ended questions you asked, the more information the prospect shared with you. You decide to remove many of the closed-ended questions from your phone script or reword them to make them open-ended.

Make Your Services Still Available

Just because the client has chosen someone else doesn’t mean you can’t help them in the future. You should have no problem saying something like, “I’m still here if you change your mind,” when you acknowledge the news, they’ve given you. “While I hope everything goes smoothly, I’m still available to help you if you need me, whether now or later!” You want to avoid sounding desperate, as if you’re just as eager to move on as they are, but the door remains open.

Don’t let it get to you.

Rejection hurts, especially when you really want to be the go-to person for your friends. That is without a doubt the case. But don’t get caught up in it! People, like anything else, have their own reasons for making decisions, and the majority of the time, it has nothing to do with you. Being a real estate agent comes with the territory, and it’s something you should expect to happen. Take some time to reflect on your achievements. Keep track of your happy moments in a journal. If you receive another rejection message, you’ll have something to remind you to stay positive.

Keep Up With Everything Real Estate Related

A good real estate agent is always informed about current events in the real estate market. They keep up with current events and read the news every day. Clients appreciate agents who keep up with the latest market trends and news. Keep up with all real estate market trends and make suggestions that align with them if you want to impress your client. Your client will regard you as more knowledgeable and intelligent in this manner.

One of the most intimidating aspects of a real estate career is the sales aspect; many people are afraid they won’t be able to handle rejection. Rejection, on the other hand, is beneficial because it ultimately directs you in the right direction. Rejection is already a part of life, and if you haven’t faced it yet, you’re probably not putting yourself out there enough!

Real estate is one of those careers that you must truly own and devote 100 percent of your efforts to; if you don’t, you will most likely be leaving money and opportunities on the table. For instance, when meeting new people, tell them you work in real estate!

Part of putting yourself out there is ensuring that if you fail, you will learn from your mistakes rather than beating yourself up. The lessons you learn from failure are more important than the failure itself. The worst thing people can say is “no,” which will send you back to square one! However, if you want to advance, you must usually ask for it; people will not simply hand you everything you desire on a silver platter.

It’s important to remember that most rejection will not set you back; rather, it will keep you where you are now. Not getting a promotion, for example, means you’re still doing the same job. It doesn’t mean you’ll never get the listing agreement. In fact, most agents take 3-9 months to close their first deal… which is perfectly fine! Some of the most successful and well-known names in real estate took years to establish and launch their careers.

It’s not their first business or venture, which is something that most super-successful people have in common. They tried and failed several times before finding their sweet spot and path to success. If you frame failure correctly, it can truly be an opportunity.

Remember that practice makes perfect, so being rejected numerous times will improve your ability to fail and learn from your missed opportunities. Seek out opportunities to ask for a deal or to put yourself out there; if you’re turned down, get back up and try again. If not, even better: you’ve just landed a client or a discount!

Always keep in mind that rejection isn’t the end of the world; it’s usually the start of something completely new and amazing. Have faith in yourself, keep trying, and don’t get discouraged by rejection. As previously stated, rejection is beneficial because it ultimately directs you in the right direction.

When it comes to rejection, you should know that it will happen often, but there will always be another chance. Here are some things to think about as you try to get over being turned down and build the career of your dreams:

Believe in yourself and don’t let things get to you.
Give off good vibes both verbally and physically.
Role-playing is a great way to learn how to give a good presentation and see what you want to get out of each meeting.
Keep your mind on your big goals and the reason you’re doing what you’re doing.
Really listen to what your clients say and get to know them.
Learn from being turned down and keep going.

Rejection is a normal part of business. Use it to make yourself stronger and speed up your path to success. When you start using the tips in this blog, rejection will seem like a small problem. You can do it!

That’s it for this blog CORE Member, remember to subscribe to our channel and if you feel like we’ve delivered value please share this blog with ONE person. That’s right just one person as a token of your appreciation for the hard work we put into making content that educates and helps you on your mission of building your own fortune. Remember you can read blog after blog, but it isn’t until you actually take action that you’ll start to see results. See you soon!

[mashshare]