I am unsure who to give credit to for coining the phrase “change is the only constant in life,” but as soon as I accepted the expression as a positive notion as opposed to a hindrance, I was all the better for it.
When considering today’s real estate market, balancing should not equal plummeting, just as change should not equal fear. I credit the necessity of having to make a shift in the middle of a global pandemic to the place where I find myself today.
If you had told me two years ago that I was currently working as a full-time licensed real estate agent and living back in my hometown of Hamilton, Ont., I wouldn’t have believed you. I probably would have laughed and said, “who wrote a play about a real estate agent?”
Change is inevitable
In March 2020, I was living in Toronto and working as a professional actor in the theater and film/tv industry – and then COVID-19 hit. March 2020 was an incredible catalyst for so much change in my personal and professional life.
My life felt as though it stopped when I moved home. Everything came to a pause, and the difficulty was that I had no idea how long the pause was going to last. The deafening silence of the theater industry led to increasingly amplified negative self-talk that began to swirl around in my head like never before. The pandemic was seemingly providing me with the endless time that I did not want.
It took me a while to stop feeding the thoughts that didn’t serve me and look beyond my circumstances. Eventually, I was ready to utilize the time that was at my disposal. In a quest to grow and further my professional development through various educational opportunities, I decided to explore other interests. Before I knew it, I enrolled in Humber’s Real Estate Education Program. Making this change was only possible once I realized that I wasn’t closing the door on acting but simply opening a new one.
Change can be uncomfortable, but it is ultimately paralyzing when resisted.
I believe a lot of us are afforded moments of change during times when we may not want it or don’t think we need it. For instance, the real estate market has been balancing since its peak in February 2022. I’m sure many of us wish to return to that time when a quick sale could be made at a maximum profit.
However, instead of resisting change in the market, why not look beyond our circumstances and take advantage of the time at our disposal? In today’s real estate market, time is an opportunity: You and your buyers are now being afforded time to explore, deliberate and weigh all options. When pursuing a property and placing an offer, buyers can now act from a place of knowledge as opposed to fear and include conditions that aim to protect their best interests.
There is ample opportunity during this market shift
Your seller clients can utilize this time as an opportunity to develop thoughtful pricing and marketing strategies which were often sidelined by the fast-paced and, albeit, purely transactional market during the peak.
For real estate professionals, there is ample opportunity during this market shift. Inflation, rising interest rates and talks of recession are feeding the media’s rhetoric of fear and scarcity. As a result, many prospective buyers and sellers will react to this market from a place of uncertainty; more than ever, qualified professionals will be relied on. We must push forward, look ahead and focus on the work. As real estate professionals, it will not serve us to be echo chambers of the doom and gloom perpetuated by some media. It is imperative to view the shifts and changes in our marketplace as moments of opportunity.
This marketplace may be uncharted territory for some, but for me, the shift is all too familiar. It excites me to be working within a field that provides so many opportunities to nurture relationships, create a solid foundation by building from the basics and ultimately be a trusted resource for clients. It’s a people’s business, after all, which is what attracted me to the industry in the first place.
If change is inevitable, why not plan for it?
Rachel is an associate & sales representative with The O’Reilly Group and Royal LePage State Realty. She is based in Hamilton, Ont., serving Hamilton, Burlington and surrounding areas. Contact her by email ([email protected]) or Instagram (@rachelvanduzer.realtor).