Ways to Bounce Back from a Client Loss
Everybody knows that losing clients is a part and parcel of being a real estate agent. The thing is, if you’re not riding high with several deals in the pipeline then a client loss can have a real economic impact on your livelihood.
One of the most important attributes of a successful agent, however, is the ability to bounce back from a client loss. Even when it comes at the worst possible time.
Here are some tips on how to pick yourself up and get back into the real estate game after a tough loss.
It’s not necessarily your fault
It’s important to always remember that there are two people involved in an agent-client relationship. When a client walks, it’s not necessarily because it was anything wrong that you did. In some cases, it’s just the matter of a flaky or indecisive client.
In some instances, the client may be frustrated and blame you for a situation that you have little control over. For example, they may be disappointed by the quality of available homes in their price range. Or they may be convinced, despite all evidence to the contrary, that they can sell their home for much more than it’s worth.
A learning opportunity
Learn from every failure. Take advantage of it as an opportunity to become an even better agent. What mistakes led to the departure of the client? What could you have done differently to prevent the loss? In some cases, maybe the lesson will simply be to stay away from clients who exhibit certain types of behavior or are looking for something that you know you can’t help them find.
You career is long
Think about it, the most recent failure in the grand scheme of things. It may sting now, but how will you describe it a year from now? Or five years from now? Or when you’re retired? It was a commission you wished you could have had, but other opportunities will come your way if you stay dedicated.
Talk to a mentor
Getting past disappointments is one of the many reasons you should have a mentor in the industry. Talk with them about what happened and they will likely be able to both reassure you with similar stories from their own career as well as give you productive advice on how to remedy the situation.
Stop dwelling on it
Acknowledging mistakes is healthy. Fixating on them is not. Spend a few minutes analyzing what went wrong and try to think of how to avoid a similar situation in the future. After you’ve done that, try your best to stop thinking about it.
The best cure for the doldrums is to find something productive to do. Jump back into work. Not only does that give you something to do besides think about the loss, but working is the only way you’ll get out of the rut.