Failure and rejection can be dirty words, particularly in the real estate business. The truth is real estate rejection should be a routine—and expected—part of the job. The trick is learning to reframe each lost prospect in a way that will help real estate professionals tweak their skills and increase their likelihood of success for the next deal.
After all, as many successful people preach, a setback is a setup for a comeback. The truth is, you will never get 100% of the clients you aim for in your career, but you are guaranteed to miss 100% of the ones you don't try.
This article is about reframing your mindset to stay positive and motivated despite rejection in the real estate industry. We will be discussing ways to turn setbacks into comebacks and how you can use real estate rejections as a learning opportunity for growth and personal development.
So, if you’re ready to keep your head up high no matter what life throws at you, let's get started!
How to Handle Real Estate Rejection
There's no one way to handle real estate rejection; after all, every agent is different, with their own unique strengths and weaknesses. However, you can use some common mental strategies to help you stay positive and keep going when you feel like giving up.
Below are some suggestions for you to try on the next time a prospective buyer backs out:
1. Take a Minute
While it might seem too simple, science supports taking a break when you feel overwhelmed by stressful circumstances. Taking a moment to handle the loss of a prospective client will allow you the time and grace to process the emotions.
Your break doesn't have to be long; sometimes, it only takes a minute or two of deep breathing to pull yourself together before assessing what went wrong. Here are some other ideas:
- Take a quick walk
- Stretch and relax your muscles
- Practice deep breathing exercises
- Drink some water
- Listen to a favorite song
- Work on an unrelated task for a few minutes
- Write down your thoughts and feelings in a journal
- Focus on unrelated work to get your mind off things
By taking the time to reset, you'll be better prepared to figure out what went wrong and how you can do better next time.
2. Always be Positive: Within Reason
Let's be honest. It's not human nature to be positive all the time, and in fact, not giving yourself time to acknowledge how you feel can increase your stress.
However, you must move forward and assess what happened honestly, reminding yourself that the new knowledge gained from the experience will help you prevent or navigate similar situations.
Remember to keep your perspective. When you're in a business where half of all brokers fail to obtain their professional licenses on their first try, it might help to know that every agent experiences real estate rejection even in the beginning stages of their career, not to mention along every stage of their success path.
3. Don't Burn a Bridge
Aside from being positive, also remember to be positive with others. It's easy to take rejection personally, especially when a prospective buyer doesn't accept your offer. But don't let your disappointment turn into frustration or anger. You should never burn a bridge with potential clients.
Even if the offer doesn't work out, it's essential to remain professional and keep the lines of communication open. That way, you can still network with them in the future and gain referrals from their friends or family members.
Plus, even if a client doesn’t accept your offer this time around, they may come back to you in the future when their needs change—so staying positive and cordial is always beneficial!
4. Ask Appropriate Questions
If you don't understand why a prospective buyer is backing out, you won't have the information you need to adapt your approach for future negotiations. This is why asking appropriate questions can be so important.
Try to find out the specifics of why they're rejecting your offer, and feel free to ask follow-up questions if you need more clarification.
For example:
- Was it the price?
- If so, do they think it's too high or too low?
- Was there something about the house that didn't meet their needs?
- Do they have any other offers on the property, and what did those look like?
Asking these types of questions will give you valuable insight into how to improve your services in the future. It's also a good idea to take feedback from clients who have decided not to go through with a deal.
If there's something you can do differently, it may be worth hearing them out and making adjustments accordingly. Not only will this make you a better real estate agent, but it will also show potential clients that you're willing to listen and improve your services if necessary.
5. Offer Your Services Still
Real estate rejection can easily discourage you from continuing to offer your services, particularly to those who have already rejected you. But it's important to remember that just because one person or company isn't interested in your services doesn't mean everyone else will feel the same way.
You can take various actions to offer your services still, even after being rejected by someone or something:
- Try networking with others in the industry; perhaps they know of a potential client or two that would be interested in working with you.
- Use online tools such as LinkedIn and other social media outlets to get your name out there and get noticed by potential clients.
- Don’t forget to reach out to past contacts that may have initially shown interest in your services but didn't move forward with a contract. They may be more likely to use your services this time because they already know you and are familiar with the quality of service you provide.
Most of all, don’t give up. Remember that luck happens when opportunity meets preparation, so continue to lay the groundwork for your next opportunity.
6. Don't Let It Bring You Down
When real estate professionals see all of their investment of time and money go down the drain with a deal, it can be challenging to find the motivation to get back out there. There are several ways you can find your mojo again:
- Avoid dwelling on failure. It's easy to get caught up in the disappointment of a failed deal, but it's important to focus on what you can learn from it and move forward.
- Maintain your motivation. Remind yourself why you got into real estate in the first place—what makes this career exciting for you?
- Find balance. Don't let rejection or frustration become all-consuming; take time out for yourself and do something unrelated to work (e.g., read a book, or take a class).
- Break down your long-term goals into smaller, more achievable ones. For example, if you need to reach 80 people each month to get ten listings, that means you only need to reach 20 people each week, or four people each day—and celebrate your small successes along the way.
- Rely on your support system. Whether it's friends, family, or colleagues in the industry, don't be afraid to reach out for help when needed.
Use these practical techniques to get you back in the game quicker after real estate rejection gets you down.
7. Keep Learning and Improving
According to psychology, there are two kinds of people in this world; those with a growth mindset and those with a fixed mindset. Those with a growth mindset are the ones who enjoy learning and improving themselves. They don’t take rejection personally; instead, they use it as an opportunity to learn and grow.
When faced with failure or rejection, these people stay positive by focusing on what they can do better next time.
As a real estate agent, there is always something new to learn and improve. You could attend seminars or workshops that teach you about best practices in the industry or get advice from more experienced agents.
You can also keep up with industry news, which will help you stay ahead of trends, so you are well-informed. A bonus to this approach is you'll also be able to stay positive because you know that each real estate rejection is an opportunity to learn something new that can help your business in the future.
Use Rejection as Fuel for Future Success
You've got this! As real estate professionals, you will face rejection, but it doesn't mean you should give up. Staying positive and taking action are the best strategies to keep going. To succeed in the real estate business, you need to know how to use effective digital marketing strategies for modern consumers.
Krista Mashore is the perfect person to help you get there; she is one of the top real estate coaches and best-selling authors out there. With her coaching company, Krista Mashore Coaching, Krista teaches people The Mashore Blueprint, which includes all of those essential tips and more. Take the next step in your career by booking with Krista today!
