Resilience is likely attributed to a Navy Seal rather than a real estate agent. However, in this market, it is an essential virtue. The industry is tough and testing. Real estate agents experience rejection and disappointment often, so the ability to rally against adversity is critical.
From a home seller’s perspective choosing a less resilient agent may look like this:
– Poor outcome. Stemming from an agent’s lack of ability to have robust conversations, especially in relation to critical feedback.
– Lack of motivation. An agent giving up on the listing when things get tough and moving onto an easier challenge.
– Unethical practice. An agent succumbing to pressure and divulging key information to prospective buyers.
According to Leslie Riopel, Professor of Psychology from Northwood University, ‘Resilient people don’t feel helpless or hopeless when they are facing a challenge. They are more likely to keep working toward a goal when they are faced with an obstacle’. For this reason we put a big focus on hiring and developing resilient real estate agents.
How to identify a resilient agent
Years of experience and marketing are easy to identify. Resilience, however, isn’t. Below is what we recommend you keep your eye on during interactions with agents.
Resilient agents always look at themselves to see what they ‘could have done’ in the wake of disappointment. Less resilient agents will look externally rather than taking the time to self-assess. This is a method used to protect the individual and deflect any criticism. This leads to repeated disappointments (and potentially poor sales processes).
If you get the feeling that your agent may not be inclined to admit when they are wrong or look to blame others then probe further.
Feedback that we often hear in the industry is from aggrieved home sellers who report that the agent lost interest in the listing after the initial buyer interest dropped off. Whether it’s diminished contact or a lack of energy, a vendor will soon see whether or not they have an agent who is keen to problem solve.
Always ask a few questions about initiative, as many agents will often tell you about their smoothest sales. Often it can be the longest, most difficult sales that shed the most light on the individual.
Ropel also highlights that “At the heart of resilience is one’s ability to adapt. Those who have a rigid view of the world will often experience a lot more stress during change than those who believe that change is inevitable”. Keep your eye out for those who embrace change and do well when difficult circumstances arise.
A good question to ask agents is how they have adapted to the recent market shift or assess their appetite for using new real estate marketing technologies. These questions will shed a light on an individual’s ability to adapt to dynamic changes and give you an insight as to whether they can think on their feet and under pressure during changing market conditions.
When agents don’t make a commitment to learning, they quickly become stagnant. Relying on the same strategies is a fast way to become outdated. While organisations should prioritise ongoing learning to help build the skills agents need for success, the individual must also take responsibility for their own potential and seek out opportunities to improve on a regular basis.
In your assessment of an agent, consider if they value learning. Choosing someone who does not, could spell trouble when resilience is required.
The nature of the real estate industry means that agents face disappointments regularly. Don’t be shy to ask an agent, ‘what major setbacks have you had and how did you combat them?’ That is a standard job interview question so why wouldn’t you ask it when interviewing potential agents for the ‘job’ of selling your home?
The market is dynamic, you may experience some unexpected events. A resilient agent will be able to partner with you, to guide you through the transaction confidently and achieve the best results for your property.
Get in touch if you would like to meet with a member of our resilient team.