Burnout is not scary as long as you know how to handle it
It can be thrilling to begin a career in commercial real estate (CRE), but there are a number of obstacles that might cause burnout. Due to issues like erratic income, inadequate training, and intense competition, 88% of all new residential and commercial real estate agents quit the business within five years. Most of them do so within the first two years. Staying ahead of burnout is essential to your success.
This thorough guide will help you succeed in this challenging sector while preserving your productivity and well-being.
You Must First Identify the Symptoms of Burnout
Understanding the signs of burnout is essential before overcoming it:
Reduced drive to work
Feeling more anxious than normal
Having trouble juggling work and life
Sleep problems and anxiety
Physical manifestations such as headaches or digestive problems
Cynicism or a lack of passion for your work
How to Battle Burnout
Remember why you began working in CRE.
Agents experiencing burnout, in my experience, are more concerned with the near future. Rather, you can gain inspiration by reviewing your long-term goal and reminding yourself of the reasons you initially chose to work in this field.
Photos of a vacation, a car, or a house you'd like to buy someday helped some of the agents I've worked with keep motivated and focused when they required a visual depiction of a portion of their long-term goals. Place these reminders on the wall or on your desk.
Open up and talk to others in your industry, chances are very high that they have experiences burnout at some point in their career and can offer advise on how to refocus.
Set Explicit Boundaries
Establish clear work schedules and follow them. To manage expectations, let them know when you are available and how quickly you will reply. For example, I usually inform clients that I will get back to them within three business hours, so if they phone later in the evening, I don't have to answer; instead, I can contact them first thing in the morning. This avoids feeling like you're always "on call" and promotes a better work-life balance.
Prioritize Self-Care
Make time for activities that rejuvenate you.
Exercise regularly: Physical activity can help reduce stress and improve overall well-being
Get adequate sleep: Aim for 7-9 hours of quality sleep per night to enhance your performance and mental clarity.
Practice mindfulness: Incorporate meditation or quiet reflection time into your daily routine.
Make time to do things you enjoy as well.
A Healthy Diet
To promote your physical and mental health, eat wholesome meals and drink enough of water. I've witnessed a lot of agents work through lunch before experiencing a low blood sugar fall, becoming irritated, and losing their mental clarity. Keep in mind that you need gasoline to keep going, and the higher the quality of the fuel, the better you will perform.
Leverage Technology and Delegation
Use a CRM system to manage your workflow and automate repetitive tasks. Delegate responsibilities where possible to focus on high-value activities that align with your strengths
Develop a Support Network
Connect with other CRE professionals, join industry associations, or find a mentor. Having a support system can provide valuable insights, emotional support, and opportunities for collaboration. A support network outside of the industry can also prove to be very beneficial (think family/friends, etc.). Look to attend industry events to network with other professionals, and learn more about your business. This “downtime” may seem not worth it, but I have consistently seen agents come back from these events rejuvenated and with their old spark for the business.
Continuous Learning and Skill Development
Invest in your professional growth by attending workshops, obtaining certifications, or reading industry publications. This can boost your confidence and efficiency, reducing stress in the long run.
Time-Block Your Schedule
Organize, and allocate specific time slots for different activities, including prospecting, client meetings, and administrative tasks. Don't forget to schedule breaks and time off.
Focus on Your Strengths
Conduct a self-assessment to identify your strengths and weaknesses. Concentrate on tasks that align with your strong suits and consider outsourcing or partnering for areas where you're less proficient.
Use Stress-Reduction Strategies
Create excellent coping mechanisms for stress.
Stretches or deep breathing exercises.
Taking regular pauses during the day
Taking part in extracurricular activities or hobbies
Make Reasonable Goals
Divide more ambitious goals into more manageable benchmarks. This strategy might keep you motivated and keep you from feeling overburdened.
Seek Professional Help When Needed
Don't be afraid to seek help from a career coach or mental health expert if you're having trouble overcoming burnout on your own. Depression can occasionally develop from "burnout." You might wish to look for professional assistance if you are feeling lost or sad and finding it difficult to handle everyday chores.
By implementing these strategies, you can build resilience, maintain your passion for CRE, and establish a sustainable career path. Remember, overcoming burnout is a process that requires consistent effort and self-awareness. Be patient with yourself and celebrate small victories along the way.
