Real estate burnout and how to avoid it

real estate burnout

Because real estate can be a 24/7 business it can easily lead to real estate burnout if you allow it to. Here are some of the best ways to avoid burning out in real estate while still being a six-figure earner.

Finding the work-life balance that works for you avoids real estate burnout

When you’re first starting out in real estate it might seem like you’re living to work. It’s true, in a highly competitive business like real estate there are dues to pay and hours to put in. But balancing work and play will make you more productive.

Three ways to balance your work life and avoid burning out are:

  • Take the same day off each week
  • Set the right expectations with clients upfront
  • Focus on a single real estate niche

Avoid real estate burnout by closing your office

Just because the real estate business can be 24/7 it doesn’t mean that you have to work around the clock, week in and week out. Closing your office one or two days a week means no phone calls, emails, or text messages.

These tips work even if you don’t have a physical office to close. Closing your office is as much mental as it is physical.

Avoid burning out by setting the right client expectations

Setting the right expectations with clients also helps agents void real estate burnout. If your office – or yourself, if you don’t have a physical office – is closed on Sundays or the weekends, let clients know right up front.

Many real estate agents are afraid do to this because they’re afraid of being seen as non-responsive. But in fact, the opposite is true. By letting customers and clients know that you have set business hours they’re much more likely to view you as the real estate professional that you really are.

Focusing on a single niche helps avoid real estate burnout

A lot of real estate agents, even those that have been in the real estate business for a while, believe that they have to be all things to all people. They figure the more they do, the more money they’ll make. Unfortunately this is one of the major factors in real estate burnout.

Focusing on a single real estate niche helps avoid burnout by concentrating your skills, knowledge, time and effort on what you’re best at. If you do that, the money – and the clients – will follow.

Five examples of real estate niches are:

  • Buyer representation
  • Commercial property management
  • Office leasing agent
  • Coworking office specialist
  • Multifamily sales specialist

 

Five Ways To Have A Work/Life Balance In Real Estate

work life balance real estate

Achieving a positive work/life balance in real estate is much easier said than done.

It’s true whether you’re a new real estate agent selling real estate full time, or an experienced broker or real estate investor.  It’s true whether you work in residential, commercial real estate, property management, or another real estate niche. Positive time management in real estate can be difficult to achieve.

Why Have A Work/Life Balance In Real Estate?

In the real estate business the more you work the more money you make.  If you work in various markets around the world, you can literally work 24/7, seven-days-a-week if you choose to do so.

This works well for a while, and a little bit longer than a while for real estate people who have no family to worry about.  And those that are able to focus 100% on their real estate business.

But after a while, no matter what you do, real estate burnout occurs.

You forget to return phone calls or emails.  You’re not able to hold an intelligent conversation with clients or friends about a topic that doesn’t involve work.  Or you make a mistake on a contract and end up getting sued.

Not good.

Five Ways To Achieve A Positive Work/Life Balance In Real Estate

Here are five tips to balancing your work and life when you work in the real estate business:

  • Email – limit reading, replying, and sending emails to one or two times per day
  • Phone calls – as with emails, limit the times when you will make and receive phone calls
  • Working hours – have set working hours and take at least one full day off each week
  • Choose clients carefully – many prospective real estate clients don’t value your time and actually have no intention of buying anything from you . . . learn to choose the ones the will make money for you and learn to say ‘No’
  • Pick a real estate niche – you can’t be an expert in every field of real estate, and you can’t be all things to all people . . . choose what you’re good at and stick to it