Nobody stays in the sales slump forever
We have all been there when things are going well and it feels like it will never end, the deals just keep coming in, the phone is ringing every few minutes, you are considering bringing in team members to help keep you on track and then it happens; and if you haven’t experienced it yet, you should prepare for it, since in our industry it’s not so much of an if but rather a when. Of course I’m talking about a sales slump, when the phone is no longer consistently ringing and every time it does it feels like a 5 pound weight. No one looking to transact, no one returning your calls and the deal flow has become a trickle.
If you have been in sales and you haven’t had this experience you should feel blessed as it has happened to pretty much everyone who has had a long career in sales. There are just some things that happen that are out of our control or just part of a cycle; but there is a lot you can do to mitigate some of the pain. When the slowdown happens, the immediate reaction is to work harder, sometimes it helps but many times you are just prolonging the pain and creating a scenario where you are likely to burn out. I have been in the real estate business for over 25 years and I can share what has worked for me in the past.
When deal flow is down, I always take a step back to do a self-audit and see how I got here. I always analyzed the market, my processes, my systems and most importantly my mindset. I want to try to figure out if there was a shift in the market or something I needed to change about myself. Slumps often stem from subtle shifts in behavior or strategy that go unnoticed, so I begin the audit as soon as a feel a slump coming on.
The market is something you should be watching at all times, if the asset class or area you are working in starts to see a slowdown you should be on top of the market to recognize these patterns, which will help you to adjust your sales approach or you may find the need to switch to another asset class, which should then help increase your deal flow. You may still see a bit of a slowdown as you make the changes but it’s better then waiting for that asset class to come back. e.g.: office buildings in several cities are struggling and the leasing may not come back to the previous levels so you may need to adjust to retail in the same market. This is why it is critical to watch the reports on your market; or better yet, be the agent that creates the reports for their clients, which in turn will bring additional value to your client base and you will consistently up to date on your market.
To also help with slumps, make sure you follow up and stay in touch with past clients, and your sphere of influence. Communicate with them through emails and occasional phone calls which will allow you to stay in front of them. These connections are where your next business is most likely going to be generated from.
The next group to focus your time on are the potential clients that said to call back in a few months or even the ones that have ghosted you. Reconnecting with them immediately is a must. I don’t mean to send an email, pick up that 5 pound phone, call them and be sure you have a topic of conversation that will bring value to them, and don’t forget to close with a call to action. If you miss them, always leave a message, something short, such as sorry for missing them, and that you will try again tomorrow. After leaving the message be sure to send them an email to let them know you left a voicemail and that you’ll try them back again later. Here’s the key, do this methodically putting all the pressure on yourself will only make you sound rushed. Create a systematic approach and plan that you know you can execute on and this will also keep you from burning out.
I want to touch on the executing a plan a bit more here, if you get yourself overwhelmed you will kill your forward momentum. And in a slump, it’s easy to start doing too much to compensate.
Instead, build a focused routine and a daily structure you are comfortable, keep in mind if you give yourself too much to do you will just burn yourself out, but if you don’t do enough you can’t change the course, so give this some real thought before executing on them. I have some free sample daily structure forms on my website (Click here: Sample Daily Structure Forms) for you to use. Remember that everyone is different, and that you know yourself better than anyone else, what you are capable of, what you are willing to do, so make sure to be true to yourself and focus on your strengths, double down on them ie: if creating content to post everyday takes a lot of your time and stresses you out then cut that back to 3 days per week. Focus your energy where you will gain the highest returns on your time.
The people you surround yourself with can also have a huge impact in either burning out, or not, so this is something else that you really want to focus on. Debbie Downers are folks you should not be around, you need like minded people that will keep your mindset positive and allow you to focus on your goals. Keep in mind that sales are contagious—but so is discouragement. You don't need motivation hype—you need perspective, encouragement, and possibly a few fresh ideas. I always recommend speaking with your office manager, your senior or someone in your office that has been in the business a while, they have probably been through this so they can be a huge help, talk to them and don’t try and just go it alone, talking about it with someone will help.
Burnout often comes from tying identity to performance. This is a trap that we sales people fall in to, where we associate our sales results as a reflection of our value as a person. You can get through this and when you do, you will be even more well rounded as a salesperson and a human being. These slumps are potential roadblocks that can be easily be navigated but it may take some time. Stay committed to your process—not obsessed with the result. Keep showing up. Keep refining. The slump is a season, not a sentence.
This one was hard for me to start, but surprisingly effective. Start celebrating small wins like a potential new client responding or scheduling a second showing it will make you feel better and have an overall positive impact on your outlook. Celebrate these small wins by doing something small for yourself, maybe treat yourself to a nice lunch, or stop and get and try the new trendy coffee shop. This also will help train you to keep track of your progress throughout the transaction process, not just on closed deals, it should help keep you motivated. Momentum builds from consistent, small wins stacked over time.
These steps helped me get through my first slump and it also kept me from burning out, remember to take a breath. Reset your focus. Stay consistent. You don’t need to “hustle harder”—you need to be smarter, steadier, and kinder to yourself.
Your comeback always starts with one simple step forward.
